Getting covered for critical illnesses.

The following is an email from a regular reader, Tree:


Hi AK,

Let me talk to myself a bit too. :)

To start with, I think it is important for readers to understand what CI coverage is for... it is actually term insurance coverage for the 30 illness, which are likely to lead to either death or TPD of some form.

A lot of people have signed up for CI coverage only to find out years later that they are not covered when they contract one of the 30 critical illnesses (mainly due to the clause, for example cancer, only end-stage [stage 4] is eligible for claim). That is where early CI coverage came in. Even then, the requirement for early CI is still quite stringent.

Understand that the coverage is very very narrowly defined within the illnesses (read: very very seriously ill).

It is thus very very important all readers, for this insurance, to go over the details of the coverage so that you do not become disillusioned, furious, shocked, dismayed, disappointed, upset etc. with the actual coverage.

So CI coverage, like term insurance, is for your family. It is to help your family cope with the bills caused by the illness if it occurs, but only the very seriously ill version.

Since you have a family and you are bread winner (I assume), you ought to get the CI coverage for your family if your family cannot cope with the bills if you *choy choy choy*.

If your family can cope with ease, it is optional.

Same reasoning with early CI.

Please note that with the coming implementation of Medishield life, there will be better coverage overall for hospitalisation and as such, the need for CI coverage decreases.

Related post: SAF Group Insurance and CI coverage.

Singapura Finance: Electronic application through ATMs.

I have participated in quite a few rights issues before and the way I do it has always been to visit a POSB or DBS ATM. However, we must not take for granted that this is always possible.

I went through the online document on Singapura Finance's rights issue and found that they will only accept electronic applications through the ATMs belonging to UOB or OCBC.

This is terribly inconvenient for me since the only bank I still keep an ATM card for is POSB. This card can be used at ATMs belonging to DBS too, of course. Combined, they have the biggest network of ATMs in Singapore. There is no reason for me to hold ATM cards belonging to UOB or OCBC. Well, not until now.

I will have to pay a visit to UOB to apply for an ATM card which would probably see only a one time usage. What a bother.

So, for anyone who is a Singapura Finance shareholder, in case you do not already know, please take note of this. Don't go to a DBS or POSB ATM on the last day for acceptance (27 November) only to be surprised.

Announcement:
RIGHTS ISSUE OF 79,342,945 NEW ORDINARY SHARES

Related post:
Singapura Finance: 1 for 1 rights issue.

How to be better investors?

I had a conversation with a fellow blogger whom I have grown to respect earlier today and he said that I might want to remind readers of the fact that I am not infallible. Although I think that I have continually mentioned this in my blog, it doesn't hurt to say it again.

As I don't have much time to blog this weekend, sharing my conversation with him is a good way to generate a blog post which I believe is useful rather quickly.

Yes, I know, sneaky AK!

How to be better investors? Know that we are not infallible.

Read the blogs mentioned in the conversation:
1. Managing exposure in AK's investment portfolio.
2. How to size our more speculative positions?
3. How to make recovering from losses easier?
4. Excuse me, are you an investor?