Coffeeshop Chit Chat - |
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Coffeeshop Chit Chat - |
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Once you reach 55, you cannot use you CPF to pay the annual fee for the scheme. Bastard PAP say that now your CPF money is under retirement account. So if you want to continue the scheme, you have to pay hard cash to the bastard insurance company or your insurance is rendered null and void. Most of the people do not have the cash to pay in order to continue the scheme and NTUC Income or Great Eastern will be very happy because, all these years, the CPF money collected from them is free money. They don't have to pay a single cent if you die. You die your business.
All term insurance schemes operate the same way regardless of where you are in the world or who you vote for in Singapore.
This is NTUC. It is not exactly a private company. It had access to army camps, civil servants etc. There is an element of trust that is given to State run or associated entities. Not many people read the fine print and most agents will avoid telling this.
This is NTUC. It is not exactly a private company. It had access to army camps, civil servants etc. There is an element of trust that is given to State run or associated entities. Not many people read the fine print and most agents will avoid telling this.
The CPF schemes that were introduced after 1985 is no longer what it was supposed to be. The British created the CPF and not the PAP but it was the PAP that ended up using it for building the country paying a dismal interest rate. It is also now an escrow for housing debts and medical bills.
People have been misled.
Try telling a hawker who does not read or understand English what the terms are.
The NTUC is doing what is most cost effective for the people. If they tried to sell whole life policies with a medical rider. none of their targeted clientele would be able to afford the premiums and they'd end up with no insurance whatsoever.
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The point I am making is that this Govt gave the impression that CPF will be sufficient, NTUC is for the workers etc and all be sweet.
Singaporeans need to admit responsibility for their own follies and not try to pass the buck.
various plans (term and comprehensive or whole life) are spelled out on their website, including policy conditions. ah gu ah kow can always seek 2nd, 3rd opinions and advice from their children, relatives or friends with secondary education.
Leongsam give up lah!! U r trying to defend the indefensible!!! Many if not most people don't know squat about insurance so they are being led like rats by the piper. Just look at the Eldercare scheme....only after outcry then they start to improve it. U need to keep slapping them to get things done the right way!!I never got such an impression. My dad didn't get that impression. Neither did my mum or my siblings.
Any hawker or worker can easily add up monthly CPF contributions to know how much they'll have upon retirement.
They'd also be capable of working out how far the total would go after retirement.
Hawkers are better at arithmetic than I am. My production operators knew how to calculate their overtime entitlements down to the last cent and were quick to point out any errors.
Singaporeans need to admit responsibility for their own follies and not try to pass the buck.
Frankly, I don't know why anyone bothers to run the country anymore. If I was a member of the elite, I'd emigrate to my Swiss Alpine Villa to enjoy life instead of trying to pander to a bunch of spoiled brats.
All term insurance schemes operate the same way r.....
However, when the hawker reaches 60, his children are supposed to provide for the father who toiled daily to put them through school and university.
Insurance should no longer be needed if his children live up to their responsibilities.
Sam, it cms like ur still living in de dark ages. How many children 2 u think takes up or are able 2 take up de responsibility 2 sppt der parents esp wen deyr having a fair share of der own problems in Sgp???? How much 2 u think dey can 2 4 der parents esp wen dey have 2 worry abt how they're going 2 put der next meal on de table 4 der families??? Ur living in an Ang moh cuntry aren't u???? How many cases have u heard of children sppt der parents der???? Such being de case, Y shd it b any diff here in Sgp????
Singaporeans seem to have this naive idea that the government is supposed to take care of them from cradle to grave. No such promise was ever made and the tax system was never designed to fund such a scheme. Personal responsibility has always been the order of the day and I agree with that.
The NTUC is doing what is most cost effective for the people. If they tried to sell whole life policies with a medical rider. none of their targeted clientele would be able to afford the premiums and they'd end up with no insurance whatsoever.
The govt operates on the assumption that everybody needs some sort of coverage when they're young adults bringing up a family. However, when the hawker reaches 60, his children are supposed to provide for the father who toiled daily to put them through school and university.
Insurance should no longer be needed if his children live up to their responsibilities.
Singaporeans seem to have this naive idea that the government is supposed to take care of them from cradle to grave. No such promise was ever made and the tax system was never designed to fund such a scheme. Personal responsibility has always been the order of the day and I agree with that.