Site syndication http://www.wilfredling.com Thu, 09 Sep 2010 12:49:12 +0100 FeedCreator 1.7.2 http://www.wilfredling.com/images/M_images/joomla_rss.png http://www.wilfredling.com Site syndication http://www.wilfredling.com/content/view/1274/9/ While Singapore is now famous for having tons of cowboy financial advisers claiming to give financial advice and yet selling detrimental products to consumers, the United Kingdom is facing a big problem relating to cowboy Will Writers. As an example of “mis-seling’, some Will Writers charged as much as ₤12,000 upfront for executorship services only to go out of business... My Blog - My Blog Thu, 09 Sep 2010 10:49:40 +0100 http://www.wilfredling.com/content/view/1249/9/ When I do financial planning, it has become a norm to uncover horrible worms from my clients’ portfolio. In a particular life insurance bought from a famous company in 1993, the agent showed an illustration in which by the end of 30 years, the whole life par cash value will be $67,650 and the coverage will be $154,300. Nothing is... My Blog - My Blog Tue, 07 Sep 2010 11:00:00 +0100 http://www.wilfredling.com/content/view/1273/9/ I just saw the news about a dementia patient whose fixed deposit worth $48,000 was “gone.” Well, it was not really gone but the account was supposedly to be held in a POSB joint account with her daughter but the bank permitted the dementia patient to close the account and open as a new joint account with another family member.... My Blog - My Blog Tue, 07 Sep 2010 09:07:19 +0100 http://www.wilfredling.com/content/view/1272/9/ The British Premium Bond is a bond issued by the British government. The bond can be redeem at par value by the government. However, instead of paying coupons regularly, it issue lottery tickets regularly. Weird! I wonder can this be bought in Singapore? See HERE (http://en.wikipedia.org/wiki/Premium_Bond) My Blog - My Blog Tue, 07 Sep 2010 04:25:58 +0100 http://www.wilfredling.com/content/view/1271/9/ I was shocked to learn that the Singapore Permanent Resident (PR) status can be purchased through some MAS scheme. I learn about it from a newspaper report. I tried to google it and found it on various websites but not on MAS website itself. To buy the Singapore PR, it appears that one should invest SGD 5 million with... My Blog - My Blog Mon, 06 Sep 2010 22:20:54 +0100 http://www.wilfredling.com/content/view/1270/9/ On 28 Jan 2010, MAS proposed investors must take a test before they invest. This was discussed in a consultation paper entitled "MAS Issues Consultation Paper on Regulatory Regime for Listed and Unlisted Investment Products" (http://www.mas.gov.sg/resource/publications/consult_papers/2010/Regulatory%20Regime%20for%20Listed%20and%20Unlisted%20Investment%20Products.pdf). The respective firms are now busy implementing the new rules. This means, these tests are confirmed. My Blog - My Blog Mon, 06 Sep 2010 21:23:21 +0100 http://www.wilfredling.com/content/view/1269/9/ I was eating my lunch today when I overheard a father telling his daughter that she could only visit the library during the school holidays. When school reopens, she is prohibited from visiting the library because she will need to study for her exams. She is only permitted to visit the library after the final year exams. When I heard... My Blog - My Blog Sun, 05 Sep 2010 10:18:45 +0100 http://www.wilfredling.com/content/view/1267/74/ In a recent high court case of Soh Eng Beng (as executor and trustee of the Estate of Soh Kim Poo, deceased) v Soh Eng Koon (http://www.singaporelawwatch.sg/remweb/legal/ln2/rss/judgment/11483.html) was a case with regard to an ambiguous clause in a Will. The judge has to decide the exact meaning of the clause. But as I read the case, my opinion is that it... FAQs - Market Practice Thu, 02 Sep 2010 03:18:36 +0100 http://www.wilfredling.com/content/view/1265/9/ Here are the insurance charges for an ILP bought in 2002 by my client from an adviser 8 years ago.I asked her to get the latest benefit illustration with the mortality and morbidity charges from the insurer. $100,000 death benefit and $50,000 critical illness, they are paying an annual premium of 1,826.40. When she bought the policy, she was 44.... My Blog - My Blog Wed, 01 Sep 2010 19:06:18 +0100 http://www.wilfredling.com/content/view/1264/96/ Hi Wilfred, I'm a 29-year-old single, living with my parents and a younger brother. One of my single friends in her late 30s asked me, why did I buy whole-life policy. I was stumped for a while. As singles do not have a dependent and I do not foresee myself getting married, do we actually need a whole-life policy, ILP... Ask Me - Ask Me Wed, 01 Sep 2010 18:38:26 +0100