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Showing posts from May, 2018

Trust Bank Singapore, New Digital Bank Freebies!

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Have you applied for your Savings Account or Credit Card with Trust Bank Singapore, Singapore's digital bank backed by a unique partnership between Standard Chartered Bank, and FairPrice Group? REFERRAL CODE: BZACYE0F ( it is a number zero, not letter ) Get $35 worth of free Fairprice vouchers and other freebies by just Downloading the Trust App and Open a Savings Account online with the App, simple/easy within 10mins!: Get free $10 Fairprice E-voucher (no minimum spend at stores/online) by entering this code ( BZACYE0F ) when apply for the Savings Account. Get free 1kg Fairprice Rice voucher Get free Kopitiam Breakfast Toast Set voucher Charge one transaction to your debit card to get free Fairprice $25 voucher (no minimum spend, at stores/online). Hack: Do a funds transfer of $1 or $10 from your own bank to Trustbank savings account. Then Just add your debit card number to Grab App, authenticate with $1 charge/refunded to your saving
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Should I keep my Whole Life Policies?

I have a whole life policy (death/tpd) and another 3 for CI/TPD/death. I no longer need insurance for death as I do not have any dependents and soon the whole life policies to cover tpd will end. I will still need CI, so I intend to keep at least one. So I decided to take a close look at the returns. Using interest rate calculator available on internet, I decided to work out the compound interest rate my policies are giving me. One whole life policy which I am paying monthly premium for more than 30 years is giving me about 5% pa compound interest, while another is giving me about 4%. I just received bonus payment on the policies and decided to work out the returns using the surrender values now compared to one year ago. Wow, one policy gives me a return of 11% pa for the past one year, while another 7% pa. Wow, then I should continue to transfer monies from my bank account to the insurer every month to earn higher interest right?   
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