Appreciation Lunch

Appreciation Lunch with fellow members from CFP Examination Board. Missing the boy in the cup ūüôā

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Autism Awareness Day


As explained by Autism Resource Centre (Singapore), Autism is a lifelong developmental disability that affects a person’s ability to make sense of the world and relate with others. Thus they are often misunderstood by many from their behaviors and some may choose to avoid interaction with them.

Some good news – Autism is is not a disease and it cannot be ‚Äėcaught‚Äô or ‚Äėcured‚Äô. Many with autism become successful members of society with early¬†intervention and education.

2nd of April is Autism awareness day, please share the right information regarding autism to people that you know.


Severe self-injury is a behavior that occurs in a some of children and adults with autism spectrum disorder (ASD). For that reason, many insurers rejects application of a person with autism. In additional to creating awareness for autism, there is a need to create an awareness of this plan that is created specially for children with autism. It covers both the parents and the child for different benefits.

The table of coverage is as below.


Disclaimer: The information in this website and the links provided are for general information only and should not be taken as constituting professional advice from the website owner.

For advice, please send your queries to

Investment Seminar

We had our first seminar in 2018 on the 20th March 2018. The investment seminar started with Mr. Robert Rountree who is the Global strategist from Eastspring Investment sharing his insights and 2018 outlook on the financial market. It was followed by Mr. Isaac Low, Principal Partner and Head of Investment Advisory of Avallis Financial, sharing how our approach to investing can add value to our client’s portfolio while maintaining controlled risk exposure.

Thanks to Eastspring Investment, Avallis Financial and the many who had worked behind the scene to make this investment seminar a success.

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The next seminar will be on Estate Planning and should be in May 2018. Let me know if you are interested so we can keep you update on the seminar.

Changes to Integrated Shield Plans(ISPs)

It is likely that you are reading this because you are concern or confused with the changes to the private integrated shield plans today(07/03/2018). In case you are here by accident and still unaware of the changes, you can read the  following for more information.

5% co-payment for new Integrated Shield Plan riders to help address over-consumption of medical services

Before discussing about the changes, let us first understand the need for it.

The following is a premium table for insured age 1 to 75 of an ISPs from one of the service providers in 2008 and in 2018. These premiums can be partially paid from the CPF Medisave Account up to the withdrawal limit base on the insured’s age.


In order to cover both the deductible and co-insurance, the insured need to purchase the rider as below. It also shows the increase from 2008 to 2018.


The premiums for the main plan had increased 20 to 30% and the riders increased almost 200% to 300%. While different insurers may had adjusted their rates differently, the fact is all had sky rocketed over the last few years. Thus a change is needed and the question is¬† “what” and “when” .

Before going to the details, let’s see if you are affected. The application date of your policy determines the impact of the new changes to your private integrated shield plans. The chart below shows the impact of the application dates on your ISPs.


Do note there is no changes to your policy if it was applied before 7th March 2018. However, we cannot rule out the possibility the insurers of making any changes to the plans.

What are the changes?

The patient must bear the lower of 5%  or an annual cap of S$3,000 co-payment for new Integrated Shield Plan riders.

To manage cost, insurance companies will also also have their approved panel of doctors. The annual cap of S$3,000 applies if  the insured is treated by the doctors in the approved panel or had received prior approval from the insurer on the treatment. This works similarly to some of your employee benefits where the insurer requires your medical consultation to be with a particular GP.



Example of the new IP Claim 

Example 1



If there is no rider purchased, the patient/insured will have to bear the full amount of $13,150 assuming the balance is claimable by his IP.



Example 2Capture


We can see from the two examples that the new IP has not much impact on small bills. The bill size needs to be at least $60,000 in order to have any difference between a preferred and non-preferred or pre-authorised and not pre-authorised treatment.


There are a few options that we can do to reduce or remove the 5% gap. There is no right or best way to do it and it depends on individual’s objective as well as budget. If you had purchased your IP before 7th March 2018, good for you. If you had not, please do so ASAP instead of KIV for any changes from insurer.

My colleagues and myself are conducting sessions for groups who need any clarification on the changes or to know how it affects you. All you need is to have a minimum group of 5 and we will arrange for a session for your group or staff.




Should an Algorithm Tell You Who to Promote?


I saw this article in LinkedIn & thought what a ridiculous idea. How would that algorithm assess my performance? How would it know what I did n what am I good at? How would it know I put in more or less effort than my colleagues? But did you realised that this algorithm has been in place for years. That algorithm is your superior. They are the algorithm to determine who to promote n how much increments one should get during appraisal.

I interviewed a candidate for the position as a financial consultant. She felt there is no financial security cos it is commission.

I shared with her my views. When you are paid a salary, the company engage you for service with a fee. If they can engage you when they need your service, they can terminate that service as well when they don’t need it. If your salary and job is determined by a third party, what kind of security are we looking at?

A financial consultant averagely have 100 clients. He may lost 10% of these clients for many reasons. Will the financial consultant be retrench? Yes, if he managed to lose all his client. Due to different expectations, a financial consultant may piss off 5-10% of his client but to piss off all the 100 clients… IMHO, that’s an achievement too.


Contributing back to the financial planning industry.


Happy Lunar New Year

Wishing you & your family good health, good luck and much happiness throughout the year.216468-P17MTK-959

Saving Challenges for the year

Do you still remember the Ice bucket challenge where you had to pour a bucket of ice cold water onto yourself and you had to nominate someone to take up the challenge? How many other viral challenges over the years that you know? Here are some for your reading pleasure.

For this year, I would like to suggest some saving challenges that can help you financially. I hope you can let me know which challenge you took and nominate someone by sharing this post. Let us show our results at the end of the year.

The $5 Challenge

This challenge requires you to put aside your $5 notes every time you get one of it.


Put your $5 note into a glass jar and you will be surprised by how many $5 notes you would had saved. These money can be used for buying presents or gifts at the end of the year or just extra savings.

You can replace $5 notes with $1 or $2  and put every dollar coin or every $2 note that is in your possession into the jar.

The savings from this challenge can be very random but it can be enjoyable especially when you see the glass jar filled with the coins or notes.

The 52 weeks Challenge

The 52 weeks challenge requires more discipline than the $5 challenge but the savings is more predictable.

First of all, we need to decide the amount of money to start the challenge.

For e.g. we can decide the amount to be a $1. We will start to deposit $1 at the end of week 1. Then $2 at week 2, $3 at week 3 & so on. The amount we deposit into the jar at the 52nd week will be $52.

The amount you will save at the end of 52 week is as below.


If we decide the amount to be $3, then it will be $3 for week 1, $6 for week 2,  $9 for week 3 and so on. The amount to be deposited for the week is :

No. of week x amount at week 1

You can also decide to deposit other amount that you prefer every week. Once you decide on the amount to be deposited, you just need to stick to the regime. It may be difficult at the start to keep the habit going and in the middle of the year, it can be difficult to set aside the amount needed but it will be sweet at the end of the year when you see the result of your perseverance.

Please submit the form at the end of this post if you need the template for the 52 week challenge.

Save-As-You-Spend Challenge

This has to be the most difficult challenge among these 3 challenges.

All you need to do is to deposit 5% of the amount spent into the jar whenever you spend an amount more than $10. So if you spend $15 on a lunch and $2,000 on a laptop, you will deposit $0.75 and $100 respectively into the jar.

This challenge not only helps you to save, it also helps to curb impulsive spending. Knowing that you are paying an extra 5% for the item that you are buying will make you think twice before paying for it.



Merry Christmas & A Happy New Year


Thanks for all your trust & support in 2017.

There were positive changes in the industry, company and myself.  We look forward to provide you with better services in the coming year!

2018 will be a year to grow my team of financial advisers & I seek your help to refer people who may be new or experienced to me and grow their business together!

Merry Christmas & A Happy New Year

Retirement Planning Seminar Part II

Avallis Financial had successfully conducted Part II of the Retirement Planning Seminar on 1st Nov 2017. The audience had a good session on retirement planning and the options that may be possible such as annuities, investment, properties etc. The advantages and disadvantages of the available options were discussed as well.


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Here are some articles on SRS that may be useful for you.

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