Why Investment-Linked Policies Still Have Its Merits

As consumers get savvier about insurance, the Do-It-Yourself (‘DIY’) approach of “Buy Term and Invest the Difference” is gradually gaining in popularity. Briefly, it is the combination of buying a term life insurance and investing the “savings” from the lower premiums being paid. This contrasts with Investment-Linked Policy (‘ILP’) which has both life insurance and investment components. An example would be the AIA Pro Achiever which has been designed to include both insurance and investment elements in the most optimal manner. In general, ILP is preferred by consumers who want more exposure to investments than what other life insurance products may be able to provide. Therefore, it will be too foolhardy to dismiss ILP altogether. It definitely still has its merits and exists to benefit certain groups of consumers and situations.

ILP invests in a methodological and structured manner

One of the biggest merits of purchasing an ILP is to have investment professionals take over the actual investing. An example would be Mercer’s partnership with AIA to manage the investments under the AIA Pro Achiever policy.  As a leading global investment consultant, Mercer possess the requisite expertise and rigor to manage and grow the investments in a methodological and structured manner.

Furthermore, the premiums collected under the AIA Pro Achiever policy will be fully earmarked for investment right from the start. Expenses for this ILP are also low since no sales charge will be levied. Bid-offer spread is also not applicable. What these imply are that every dollar contributed will have the potential to experience investment growth. Therefore, policyholders can afford more time with their loved ones with the knowledge that their investment portfolios are under the experienced hands of Mercer.

On the other hand, the DIY approach is prone to possible lapses. That is because it is not uncommon for one to juggle multiple roles (eg: the hardworking worker, the responsible parent) simultaneously today. During stressful periods, emotions could go on overdrive while investment may take a backseat instead. As a result, a case of “overwhelming emotions” or “absent-mindedness” could potentially ruin any well-planned investment strategy. However, by buying an ILP, such incidents can be avoided since the investment component has been outsourced to professionals. Regular-premium ILPs also employ a dollar-cost average approach that helps to even out market volatility. Over the long term, it allows the policyholder to fully reap the benefits of staying invested in the market.

AIA

ILP is a flexible finance instrument

ILP is a flexible finance instrument that can be catered to investors according to their risk-appetite profiles. For instance, the AIA Pro Achiever policy offers 3 types of portfolios; Adventurous, Balanced or Cautious. This provides a choice for policyholder to select a portfolio that best matches his or her expected returns/risk profile. The flexibility extends further as policyholders are able to switch or rebalance their funds from time to time at no additional fee. This is critical as risk appetites would naturally evolve when certain life milestones are reached.

In addition, AIA provides leeway for policyholders to adjust monthly premiums especially since one’s cashflow could fluctuate from time to time. For instance, during an unexpected windfall or upon receipt of annual bonuses, policyholders have the option of topping up their premiums. Likewise, when liquidity gets tight, policyholders are at liberty to take a premium holiday. Finally, there is always the option of making withdrawals when a critical need or emergency arises.

ILP also serves as a life insurance

Let’s not forget that ILP also doubles up as a life insurance which means that there is a death benefit attached to it. On this, investment-linked policyholders are typically covered up to the policy value or to the amount that they have invested. This offers an extra peace of mind as immediate family members would be able to receive the sum assured in the event of an untimely passing. A noteworthy feature of the AIA Pro Achiever is the additional death benefit payout of 100% total regular premium paid in the event of accidental death during the first 2 policy years.

AIA also recognises that with increased life expectancies, policyholders may prefer to stay invested longer. Therefore, AIA Pro Achiever allows policyholders to stay invested till age 100 (also the policy maturity)! Furthermore, AIA Pro Achiever actively rewards policyholder that stays invested for the long term. Firstly, charges for premium holidays, partial withdrawals etc are waived after the 13th year of paying premiums. Upon reaching this milestone, policyholders are also awarded an extra 5% allocation on their premiums annually. Such loyalty features suggest that the AIA Pro Achiever provides even more value for money for policyholders that stay invested longer.

Get in touch with an AIA appointed representative to find out more about the AIA Pro Achiever today!


Nothing in this article should be construed as constitute or form a recommendation, financial advice, or an offer, invitation or solicitation from Money Digest to buy or subscribe for any securities and/or investment products. Any past performance, projection, forecast or simulation of results is not necessarily indicative of the future or likely performance of any company or investment. The content and materials made available are for informational purposes only and should not be relied on without obtaining the necessary independent financial or other advice in connection therewith before making an investment or other decision as may be appropriate.

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Is Owning A Credit Card For Necessary You?

Weigh the advantages and disadvantages of owning a credit card, before signing up for one!

WHY YOU MIGHT NEED IT

Here are some of the convincing points that highlight how useful owning a credit card is:

1. Practical for Globetrotters

Singaporeans desire to discover the world’s wonders beyond its concrete jungle. As travelling became increasingly convenient nowadays, there are several options for payment. One is through credit. There are three primary reasons why travelling with a credit card is practical.

Firstly, travel arrangements such as room reservation and car rental are usually done with a credit or debit card. Secondly, it adds a proof of financial capacity when trying to acquire a Multiple Entry Visa in some countries. Lastly, there is a sense of relief to know that you always have access to emergency funds while travelling.

Image Credits: pixabay.com

Image Credits: pixabay.com

2. Protection against Crooks

I was once robbed when I was young. I let my guards down as I was accompanied by my friend. After watching a fantastic film, I noticed that my wallet was missing. My friend and I frantically searched for it for hours. I even left my contact details to the cinema staff, but I had no luck! I had to accept that a decent amount of cash was gone. The unfortunate ordeal applies to my house keys as well as my debit card. To prevent identity theft, I had to immediately contact my bank. The process took two days.

If I only carried a credit card, the gravity of the situation may lessen. Credit cards are not tangible as cash. It is also not linked to your savings account. Many establishments ask for further identification for significant purchases. Furthermore, you can simply report a lost card thru a phone call.

3. Essential for Good Credit Report

Gone are the days when you solely think about budgeting your allowance. Welcome to the adult world whereby property owners and automotive establishments judge you by your credit report. Some of the best interest rates are offered to the people who carry impressive credit report.

It takes no genius to realize that using your credit card sensibly builds a good credit report. If you are suffering from a bad one, it is time to rehabilitate through a realistic financial plan.

WHY YOU DO NOT NEED IT

Here are some of the convincing points that highlight how owning a credit card is a recipe for disaster:

1. Tempting for Impulsive Buyers

Whether you believe it or not, we all have a control over our shopping habits. You can either be a frugal shopper who regularly reads consumer reviews or an impulsive shopper who regularly submits to tempting offers. For a person who has a difficult time in resisting a purchase, equipping yourself with a credit card may be harmful for your finances.

Using a credit card diminishes the sense of awareness as you are spending the money that you do not have. You are likely to shop based on your wants than on its costs. On the other hand, shopping with cash may allow to contemplate about your purchase. You buy what you can only afford to pay for now.

2. Solely for Smaller Purchases

If your primary purpose for owning a credit card is to cover your fondness for retail therapy, owning a credit card is not necessary. It is a good idea to save up for purchases costing S$250 or less. The delayed gratification allows you to contemplate about the coveted product.

Swiping a credit card is helpful for bigger purchases that you want to pay in several chunks such as purchasing a new laptop as well as financing your child’s education.

3. Unnecessary for Savvy Planners

One of the famous tests involving Typology highlights the dichotomous nature of people who are calculated and people who are spontaneous. The latter plans out several areas of their lives before jumping into a decision. While, the former enthusiastically goes with the flow.

I, for one, plan out my entire budget for the month as well as the funds that will go to savings and the emergency fund. Setting up an emergency fund entails keeping at least 6 months’ worth of your salary. If you have a strong emergency fund, it is unnecessary to have a credit card for emergencies.

Image Credits: pixabay.com

Image Credits: pixabay.com

Sources: 1 & 2

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Where to get Cheap T-Shirt Printing in Singapore?

Where to get Cheap T-Shirt Printing in Singapore? 

Printing T Shirts in Singapore is definitely one tasks that many people have experienced. This is no surprise as t-shirts and apparels are customizable items that is commonly used for CCA t-shirts, events, corporate wear, promotional and many more uses. Many people prefer t-shirts when casually dressed in Singapore. It is a very common perception that t-shirts give a casual look and are very comfortable. T-shirts can serve as perfect giveaways and getting same t-shirts for the whole team is has also become a common trend. T-shirts are becoming more and more common with time. 

T-Shirt Printing in Singapore: 

Many people believe that there are not many benefits of ordering customized shirts when there are plenty of prints and designs available in the market. You might not know it yet but there are numerous benefits of buying customized printed tees. Some of these benefits include; 

i. Highlighting the Personal Styling:

One major advantage of opting for a customized t-shirt is that a person can define his/her personal styling. The ready-made shirts and designs are pretty good too but these somehow limit the styling of people ordering a customized shirt which allows people to show their style the way they want. These personal styling can be easily achieved via the silk screen printing process. 

ii. Money Saved:

When buying ready-made t-shirts, often people end up putting the shirts away but in case of the customized shirt, there are no such chances. This is because customizing provides them a way to get rid of designs they don’t want and make alterations to existing design. The chances of the money being wasted are negligible in this case. 

iii. Provide a Way of Marketing: 

With the passage of time, the marketers are coming up with new, fresh ideas for marketing. One of the ways you can market your business or brand is through customized t-shirts. You can make your team member wear t-shirts with your company or brand logos printed along with an eye-catching illustration or phrases. This is an easy, simple and cheaper way to market and publicize your brand. Want T-shirts for your team? Or as a giveaway at a corporate event? Or for a competition? The big question is, where do we go to save money to get the best & cheapest t-shirt printing in Singapore?  

At Meowprint, you can get any type of t-shirts printed be that in a small quantity or in a bulk quantity at great prices. They are one of the leading and most reliable T-shirt printing Singapore hub which has a vast variety of shirts to choose from. There are many other options for you to choose from when buying printed t-shirts in Singapore as the t-shirt printing industry has been prevailing in the country. Being the leading provider allows them to provide competitive prices to the market. 

Why Choose Meowprint? 

Have you ever googled “T-shirt printing Singapore” and yet find it very frustrating and time-consuming going to different vendors trying to find the best items and prices for your needs? For a start, Meowprint has the largest t shirt printing catalog and this will save you time from browsing different websites altogether. Get what’s available in Singapore from Meowprint alone. Below are some of the items they provide. 

  1. General T-shirts:

The general t-shirts category includes; plain cotton round neck t-shirts, plain dri-fit round neck t-shirts, multi-tone dri-fit t-shirts, v-neck t-shirts, raglan-sleeves t-shirts, long-sleeves t-shirts, ringer t-shirts, Muslimah wear, anvil long sleeve hooded tee, tultex blend tee, and anvil camouflage tee. 

  1. Polo Shirts:

Polo shirts are also very popular among the people of Singapore and that is why they provide a various category of these shirts including; plain cotton polo t-shirts, plain dri-fit polo t-shirts, multi-tone polo t-shirts, multi-tone dri-fit polo t-shirts, mandarin collar t-shirts and long-sleeves polo t-shirts. 

  1. Outerwear:

In the category of outwear, Meowprint offers many options to choose from. The options include; hoodies, windbreakers, jackets, sweatshirts, varsity jackets and bomber jackets. 

  1. Singlets:

Following are the types of singlets available ; dri-fit singlets and cotton singlets. 

  1. Workwear:

Shirts, F1 uniforms, work jackets, and vests are all available in the category of workwear. 

Design Lab: 

There are many forums and platforms in Singapore from where people can get their customized tees. But with Meowprint, people get a chance to design their own tees. People can use their ideas and artistic skills to design their own t-shirt prints. There is no such thing as choosing from the available designs as the people are given a chance to make their own designs. This way the risk of a specific design being out-of-stock is reduced. This is an amazing service being offered by the most reliable tee shirt printing Singapore hub. 

This service is not offered by any other clothing brand any t-shirt printing hub in Singapore and this is the reason why many people has chosen Meowprint t-shirt printing services. The shirt is your canvas, design the shirts according to your taste and personality, and let no one limit your styling ability. With this platform, they can also then extract the designs you wish to print and incorporate them really quickly. You can even enquire directly via this platform. 

There are many features within the design lab. Some of these features include 

i. Add Text:

This tool is a very helpful tool if you wish to add a little text such as a famous quote, two-liner or a cool tag to your shirts. You can now write anything you wish was on your shirt in whichever font, color or size you want. 

ii. Add Clipart:

This option allows the customers to add images of any available designs and if you wish to get an image of your choice printed on the shirts than you can simply browse and add the desired image. This is a very amazing feature. 

iii. Your Design: 

This is a feature which provides the customer the option to use the shirt as a canvas and show their artistic skills. You can make whatever you like with any colors and designs you want. 

iv. Design Ideas:

With this option, the customers can use any of the available designs from the platform if they cannot think of something cool or sober. 

Transparent Instant Quotes: 

They also provide transparent instant price quotes on their website. Unlike any other online retailer in Singapore, they provide this service to help people calculate the amount they are going to spend on their t-shirts and apparelsThis saves customers a lot of time by having an estimated price in their budget consideration without even having the hassle to get in touch with 10 different suppliers. By being transparent, they are confident they provide very competitive rates in the market to ensure you get cheap and high quality apparels & prints with no worries. 

Customer Feedback: 

Nothing can be more convincing than hearing the review of genuine customers. That is the place where you can actually know the real feedback from the customers. They have been rated five on five stars in customer reviews, a platform powered by Facebook. You can navigate to the reviews webpage of their website and there you can see the long list of positive feedback from the customers. The team practices professionalism and patience with all their customers. 

Recent Projects: 

 

The recent projects being worked upon or already completed are a proof of how reliable this online retailer is. The largest tee shirt printing Singapore catalogue providers are one of the most professional online retailers of Singapore. 

Some of their recent projects include; 

i. Singapore Airlines: 

mp1

This was a very important project for the company. The logo of the company was to be printed on the shirts. This project was completed on 26th September 2017. 

ii. Google Asia Pacific: 
mp2

This project is an example of the shirts that are used in the events for the core teams. It is the choice of the customer to provide an already designed logo other than this the customer has an option to design the logo using the design lab. This project was completed on 12th October 2017. 

iii. Roadbull Logistics Pte Ltd 
mp3

This project was completed on 26th September 2017. We provide shirts with the creative design of a bull and vehicles combined. 

There are many other projects on which they are currently working. The team tries their best not to delay any orders to ensure that the customers do not have to go through any inconvenience. 

Conclusion: 

These are the top-most reasons why one should choose Meowprint as their t-shirt printing shop stop. Not only do they provide cheap t-shirt printing to help you save money, many of the attributes being practiced here cannot be found in many other online retailers. Once you order from here and try out their service, you will know why they are the largest and the most trusted tee shirt printing online retailer in Singapore. The team practices exceptional business ethics attributes such as professionalism and dedication. 

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With up to 14% returns, consider Peer-to-Peer Lending in your investment portfolio

Alternative investments are gaining popularity due to the high returns that they potentially yield. One such alternative investment that is worth looking at is peer-to-peer(P2P) lending or commonly known as debt-based crowdfunding.

The concept is simple – small and medium business owners looking for funds to expand their businesses take up business loans which are crowdfunded by investors. The interest paid  back by the businesses is the return on investment for the investors.

Funding Societies is a licensed and approved P2P lending platform in Southeast Asia. It is the industry leader with over 30,000 investors in Singapore, Malaysia and Indonesia. As the only P2P lending platform to  win the MAS FinTech Award (SME category, 2016), Funding Societies has also won global recognition, being recognised amongst the Top 250 FinTech companies globally by CB Insights and winning the prestigious SME Global Excellence Award by United Nations’ ITU Telecom.

Here, Funding Societies explains why and how you can invest in P2P lending, a unique investment asset class that is complementary to traditional investments:

LOW BARRIERS OF ENTRY & POTENTIAL HIGH RETURNS

As an Investor, you can read the easy to understand factsheet prepared for each loan and invest only if you like the loan. The minimum investment amount is just  $100 and you can earn interest up to 14% p.a.!

If you are too busy and do not have enough time to read the factsheet then you can invest via the Auto Invest feature. Just set your parameters and let the system invest for you.

On the platform, you can invest in two types of investments:  Term Loans and Invoice Financing. The investment periods for both investments are relatively short, 1 – 12 months for Term Loans and up to 3 months for Invoice Financing.

MONTHLY REPAYMENT TO RE-INVEST EASILY

Suppose you invest into a term loan of 12 months this Christmas, you’ll receive part of your principal and interest paid back on a monthly basis until next Christmas.

Here’s an illustration:

Assuming an investor invests $100 in a loan of 10 months at 12% p.a. interest rate. The monthly repayment is calculated below.

mg1

Therefore, the total interest earned by the investor is $10 at the end of the 10 months.

Assuming that the same investor invests 10 of such loans (10 x $100 per loan), he gets $110 in monthly repayments. The total interest earned will be $100.

Furthermore, the investor can reinvest his interest and principal multiple loans to achieve a compounding effect. Here’s another illustration:

mg2

As shown in the above illustration, the investor re-invested his monthly repayment into new loans and was able to get $109, instead of $100 without re-investing.

LICENSED AND COMPLIANT

Funding Societies holds a Capital Markets Services license issued by the Monetary Authority of Singapore.

They have also gone through multiple  internal and  external audits to ensure that all processes are compliant.

Funding Societies is also one of the first peer-to-peer lending platforms to use an independent escrow account to handle all investor funds. What this means to you as an investor is, Funding Societies does not have direct access to your funds and the funds and investments are safeguarded by the 3rd party trustee (which is also licensed by MAS).

STRINGENT IN CREDIT RISK MANAGEMENT

The key risk in this investment is businesses defaulting on the loans. However, Funding Societies does thorough due diligence on the company to minimize this risk, which is why the default rate is also one of the lowest in the region at just 1.4% as at 30th November 2017. The returns are priced based on risk, amongst multiple factors. As an investor, you have full autonomy to choose which loans you want to invest in, based on your risk/return appetite.

Funding Societies advocates the “skin in the game” concept. The company and members of the management team invest their own money in every loan to not only co-share the returns but also risks with all the investors.

SMART FEATURES TO MAKE THINGS BETTER FOR YOU

Auto-invest feature reduces the time required to monitor opportunities. Simply input your preferred parameters and the system will do the rest.

Live chat with Miyu the chatbot on Funding Societies’ website and get your queries answered 24/7!

Even though Funding Societies is an online platform, they offer a personal, offline experience for investors. Investors can  email, call or visit their office for a no-obligation chat. Funding Societies is also a winner of the Best in Customer Experience for Alternative Financial Services this year, awarded by Retail Banker International. Try out the platform for yourself to experience it!

SIGN UP NOW TO BE AN INVESTOR WITH FUNDING SOCIETIES

Join more than 30,000 other investors on Funding Societies’ platform, and earn returns of up to 14% per annum. Make your $100 (or more) work harder for you this year and collect your ‘bonus’ next Christmas! Sign up as an investor with Funding Societies now.


Disclaimer

This article is contributed by Funding Societies.

It should not be construed that Moneydigest is endorsing this article or any of the products and services provided by Funding Societies.

Nothing in this article should be construed as constitute or form a recommendation, financial advice, or an offer, invitation or solicitation from Funding Societies to buy or subscribe for any securities and/or investment products. Any past performance, projection, forecast or simulation of results is not necessarily indicative of the future or likely performance of any company or investment. The content and materials made available are for informational purposes only and should not be relied on without obtaining the necessary independent financial or other advice in connection therewith before making an investment or other decision as may be appropriate.

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Asia’s Interesting Superstitions Surrounding Money

Proud of its value for racial harmony, Singapore is a country that fuses people from different nationalities. Each nationality has formed a culture built on their own set of practices, rituals, and beliefs. Said beliefs do not have to be logical all the time as superstitions exist. Some of the superstitions surround heavy issues like money.

If you are interested to learn more about the Asian diversity in financial superstitions, continue reading this article.

IN JAPAN

The eccentric country of Japan is known for many things. One of which is their ability to morph paper figures – the art of Origami. To attract good fortune or wealth, you will need to put an Origami frog inside your wallet. The word “frog” in their language (“kaeru”) is a homonym for the phrase “to return”. Hence, putting an origami frog in your wallet entails the continued circulation of money.

IN CHINA

As the age-old saying goes: “a purse on the floor is money out the door”. Putting your purse or handbag on the floor famously symbolizes your detachment from wealth. On the bright side, keeping your belongings at close proximity lessens the chances of object misplacement or theft.

IN KOREA

Whether you are shaking your nerves away or acting on an automatic response, you must avoid fidgeting your legs in Korea. This common mannerism is frowned upon as it is believed that you are literally shaking off your good luck or wealth.

IN PHILIPPINES

Have you been experiencing an annoying itch in your palm? Do not forget to put this “itchy palm” in your pocket immediately. What may seem like a product of insect bites is deemed to mean incoming wealth. Regardless of the origin of the itch, Filipinos believe that you must expect to receive money in the next couple of days.

IN SINGAPORE

One of Singapore’s superstition roots from the Chinese beliefs about the numbers eight and four. They believe that number eight is fortunate and number four is unfortunate. These meanings were associated based on the Chinese language. You see, these words are homophones for the words “prosperity” and “death” respectively.

Image Credits: pixabay.com

Image Credits: pixabay.com

Try negotiating a discount if your apartment or condominium unit ends with number four. Research showed that it will work in your favor!

Sources: 1,  2, 3, 4, & 5

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