Cashless Service with Sompo PA Star

Sompo PA Star Policyholders will be able to visit any clinics in the medical panel and enjoy cashless outpatient treatments subject to the medical expenses limit specified in the policy with effect from 3rd July 2017.

All you need to do is to download the free APP using the QR Codes below, register and simply flash the ecard in the APP when you visit the clinic for consultation.

  For iPhone users


 For Android users




Professional Profile

Professional Profiles of some of the advisors in my team & myself.

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Click here for enlarged photos of the profiles


Selemat Hari Raya

Wishing all my Muslim friends, clients and business partners 

Selamat Hari Raya Aidilfitri

hari raya

Peace Be Upon You.

The importance of staying as an independent financial advisor.

I submitted an application to an insurance company and this client have a chronic medical condition. The insurer asked my client to go for a medical check up & despite all the test, the application was rejected.
I told my client,” Let’s try another insurer. This plan is slightly lower in benefits compared to the initial given the same amount of premiums paid but I told my client that lower payout is better than NO payout & not necessarily will accept the case. We put in the application and see what’s the response than you decide to go ahead or not.”
And so the application with the same medical declaration was submitted.
Insurer didn’t asked for test of any kind and sent my client a letter ” Application approved”. No extra loading, No exclusion…etc

This is one of the many situation as an independent financial advisors can do more for our clients where we can fight for a better deal because we can work with different partners.

If I was tied to that particular company that decided to reject my client’s application then there will be nothing else I can do.

Travel insurance does not cover pre-existing medical condition.

Singapore man in coma returning from Tokyo after daughter raises $250k online 

The above news was published on ST Online (01/05/2017). A sad case where travel insurance was in place but claims were rejected as the coma was caused by an heart attack which was an pre-existing medical condition before the travel insurance was taken up.

It is a common exclusion most, if not all, Travel insurance to exclude claims resulted from pre-existing medical conditions. Therefore, elderly travellers or travellers with pre-exisiting medical conditions are strongly encouraged to consider a travel insurance that covers these pre-existing conditions. It may be more costly than the usual travel insurance but having a typical travel insurance is as good as get a cheap, punctured tyre to keep in your car booth to be used as a spare tyre. Other than making yourself feel safe, there’s nothing really much it can do. NTUC Enhanced PreX Travel Insurance plans can cover some of these medical conditions.

A summary of cover for the plans is as follow


Please submit the form below you need more information for the NTUC Enhanced PreX Travel Insurance plans.



My client tried to offer cash to me…

I went to a client’s place to collect a claim form for Critical Illness. He is a client I took over from in 2006 from a colleague who had left the industry. Since then, I had provided financial advisory service to his wife who had bought some products from a bank during the financial crisis and his children’s hospital claims.


He handed over an envelope to me when I reach his place. I took the envelope because I thought it was his claims documents. Then he said,” Kim Heng, before I forget, this is for you.” I felt the envelope & know it is a little stack of notes. He said the money is a token to thank me for my service & help offered to him over the years. I rejected his gifts and told him I am just doing my job but he insisted that I take it.

After numerous failed attempts to reject his kind gesture, I guess the only way is to accept it. I think rejecting it is also not giving him “face”. So I decided to take his cash offer and then donate the money to Singapore Cancer Society to return his kind gesture back to those who might need it.



There are many rejections and down time in our business. It is these appreciation from our clients that keep us going and knowing what we have been doing is right.

Protecting your company against Cyber Security breaches with Cyber Insurance to minimise the financial damage.

PwC did a study for UK Department for Business, Innovation and Skills and according to PwC, the small businesses, the worst breaches cost between £65,000 and £115,000 on average; for large firms, the damage is between £600,000 and £1.15m. While that study was done in UK, the financial damage is estimated to be around that locally.

The financial damages on the company arises from the business loss during the downtime in a Denial-of-service attack, legal suits because of data leak or a more serious ones such as competition information are stolen in a Direct-access attack.


An MNC will most probably have the financial resources to beef up their IT teams and security system but a SME may not have the luxury of funds. The cyber criminals took advantage of  this and viewed SMEs as a softer target and a route to bigger business partners. According to Stephen Ridley, companies can follow several simple steps to reduce cyber-risks. He suggests using secure passwords such as three random words, installing antivirus and malware software on all company devices, instigating regular software updates that contain vital security upgrades and educating staff on cyber-risks.

Just like preventing ourselves from a virus attack, we can have all the vaccination jabs and precaution taken but still hit by the virus. You may want to consider having a Cyber Liability & Data Protection Insurance to mitigate the financial loss in an event of cyber security breach. There are a few such plans in the market and they typically covers

  • Third-party claims
  • Remediation costs
  • Cyber extortion costs
  • Business interruption

To share a claim experience, a company with a turnover of SGD 2M and 8 staff had their server and client’s record locked by a Ransomware software. The company had to pay SGD50,000 to the hackers in order to get their files back.

SGD150,000 was paid to the company for the loss of income, the ransom demand including consultant cost and cost to restore the network as the hackers refused to release the files after receiving the ransom payment. The premium paid by the company was about SGD 3,000 a year.

You  can make enquiries with Mohd. Faizal to attend a workshop on Cyber Security and Risk Management to know more about your company’s exposure to cyber security risk.

Do note this cyber insurance is mainly for SMEs and if you are having a business that is bigger in size, another package of cyber insurance may be more suitable. If you need more information on how cyber insurance can reduce the financial damage to your company, please submit the form below.

By submitting this form, you agree to be contacted in relation to this enquiry.



Pre-existing conditions in Travel Insurance

Ms Cheong wrote that her dad’s travel insurers MSIG informed her family that they were “unlikely to have a successful claim as his collapse was attributable to a pre-existing heart condition”.  Click for full story on Singapore man in coma returning from Tokyo after daughter raises $250k online.

Do note that it is a general exclusion in a travel insurance policy to exclude incidents arising directly or indirectly from pre-existing medical conditions. However, NTUC Income offer a travel insurance that cover for pre-existing medical condition. A comparison of the 3 plans offered is as followed.



Please read the brochure  for plan details or drop me a message.

By submitting this form, you agree to be contacted in relation to this enquiry.

Career as an IFA

While this article is from US, the datas & info are not much different from the local scene except on “How to Become a Financial Advisor”. Due to the different regulations between the countries, we have our set of rules.

Please submit the form below to arrange for an interview if you are interested to find out more about the career as a Financial Advisor, the pros n cons of an Independent Financial Advisor vs a Financial Advisor or you know someone who may be interested/suitable.

By submitting this form, you are giving permission Avallis Financial Pte Ltd and the staff to contact you via Email or Mobile for the purpose of recruitment.

Disruptive Technology Fund

  • What is Disruptive Technology?

Disruptive technologies are advances that will transform life, business, and the global economy.


  • Is this something new?

No, articles on disruptive technology can be found as far back as 1995.

  • What are some examples of Disruptive Technology?


  • What is the future for disruptive technology?


If you want to know more how you can put your money into these companies and ride the disruption wave with them, you many want to join the fund managers from Lion Global Investors and listen to what they have to say.

Date : 18th May 2017, Thursday

Time: 1900hrs

Venue: Holiday Inn Orchard City Centre

The seats are limited, please register here before the tickets are gone!

Register Here