• find CI term is expensive

• cancer treatment cost coverage under Shield Plan has gap.

Recommend INCOME: Complete Cancer Care.

20% discount for first year premium. Until end March 2024

a) Over commitment of premium by clients.

Beyond clients’ budget.

b) Overlooked short term financial needs resulting in cash flow crisis.

c) Inappropriate product recommendation.

d) failure to adequately share MATERIAL info with clients.

Insurance payout will go to bank to offset your loan. Hence, better to buy own Home insurance.

https://www.myskillsfuture.gov.sg/content/portal/en/training-exchange/course-directory/course-detail.html?courseReferenceNumber=TGS-2020500606

(Those EIS policies that have exclusion e-LOG will not be auto issued. Client needs to request from INCOME.)

Policy number:

Diagnosis:

Date of admission/ day surgery:

Length of stay:

Surgical code:

Attending doc:

Hospital:

Estimated hospital bill:

Deposit required:

Hospital email (if any):

Email to healthcare@income.som.sg

Also have problem with KYC reason on recommendation.

a) QBE

b) Allied World

Information provided by Brenda.

Asked by Jaz Goh

KaySiong

By focusing on the powerful concept of creating a dream board to manifest one’s aspirations. Jenny delves into the importance of setting clear goals and systematically working towards them.

The session begins with an exploration of the significance of visualizing the desired end result, emphasizing the role of a dream board as a tangible representation of one’s goals. Participants will gain insights into the art of crafting a dream board that vividly captures their aspirations, fostering a deep connection to their dreams.

Workshop Learning Objectives

1. Building Resilience and Perseverance

2. Understanding the Power of Visualization

3. Strategic Goal Setting and Planning

Workshop Outlines

• Identifying your inner motivations

• Starting your journey with a clear end in mind

• Breaking down your goals into smaller pieces

Target Audience

Financial Advisor representatives and Practitioners who are willing to learn new grounds of soft skills knowledge and like to make a difference and impact to others.

According to Life Insurance Association, one is recommended to have,

Death - 9 to 10 years of annual income

Critical illness - 4 years of annual income

(This is base on five years of recovery period)

a) Many of your clients have increased in their income and monthly expenses.Their coverage needs to be increased

b) Those clients in their late forties and early fifties bought advance CI plans since there was no early CI coverage more than a decade ago. Would they need early CI coverage? If premium is too high, can explore to cover Cancer since it is the most fearful condition.

Are you aware women have a higher chance of CI during menopause period?

You can google to read up more.

c) Clients who don’t like to buy term(no cash value), ILP may be a good product since it address protection and retirement.

https://www.lia.org.sg/media/3976/lia-pgs-2022-key-findings_final-8-sep-2023.pdf

You can consider to add those points in your Basis of Recommendation.

http://www.go.gov.sg/financialplanningguide

https://www.lia.org.sg/media/4159/lia-guide-to-medical-underwriting-for-life-insurance-edition-2024.pdf

https://www.moneysense.gov.sg/planning-your-finances-well/