A Clear Comparison Between Whole Life And Term Insurance Policy.

Whole life insurance and term policies have been closely associated with one another. There have been many writings that have talked much about them, but so far, nothing has compared them acceptable. There are some factors through which the prospective insurance buyer can look into if they have not yet decided on whether to buy whole or term insurance.    Duration of protection provided -term life, as the name suggests provides coverage for only a certain limited period.

Normally, you can buy one that is as short as one year and as long as 30 years. The length of duration will entirely depend on your needs and financial capability. Since it is not permanent, you would have to renew it every time you deem that you still need protection. Whole life, on the other hand, offers protection that lasts for a lifetime; from the moment you purchased the whole life participating policies singapore until the day you die.   

Premiums – term life insurance quotes are always way lower compared with whole life participating policies Singapore. This is the main reason why the permanent plans are preferred especially by average Joes more often than not because of their limited purchasing power. To be fair, whole life rates are not expensive for a good reason. Such type of plan provides cash saving facility that adds more money to what the beneficiary will get come to the demise of the policyholder. In a nutshell, it’s like putting some funds in a bank that will accumulate little interest after some time even you occasionally withdraw or not.  

Upsides -aside from the lower premiums, term life plans are easy to understand. There are no complexities in terms of taking a grasp of what advantages the policy can provide you and claiming of the death benefit. This is because apart from the insurance protection, it can give the policy owner no more gain whereas the whole life has a cash saving facility. This allows the plan holder to borrow money from the policy and he wouldn’t have to repay it. This is because the extra money he pays would be allotted to a separate account that is invested in the market. If it’s left untouched, all the proceeds will be added to the death benefit.   Downsides -since both whole and term can be bought over the internet, those who are fond of buying life insurance online can be lured by hoaxers. This is the reason why it is of paramount importance that caution is observed all the time. Term plans can be short and so the chance of outliving it is high. If you didn’t buy the return of premium type, you wouldn’t get a single penny the moment it lapses, and you are still breathing. As for whole life participating policies Singapore, its hefty premiums are the main factor that drags it down. It seems that it’s just for few chosen people with deep pockets.   Its suitability to your needs -each and everyone has different needs. Busybodies can opt for instant life insurance because their schedule will not permit them to go anywhere to deal with trivial things such as insurance plans.

This matter is quite objective. You alone will know the extent of your needs and which category of plans will suit to you. Carefully examine your beneficiary’s needs alongside with yours so that you can know which to go for “

Online Mutual Funds: Basic Strategies

Are you interested in investing on online mutual funds? Then better make sure you’re armed with the right tips. Begin with the following:

1. Scrutinize the funds company. Don’t immediately fall into marketing hype. One of the advantages of opting for online funds is you can easily compare them. Gather at least 3 to 5 types of them and find out which will provide you with the best returns for your investment.

Scrutiny is also highly important so you don’t end up falling into scams, which are very common once you’re online. If you’re asked to pay for hefty fees, even upon signing up, then you should be wary. Make sure that the website has an About Us page, details of which you can research. Most of all, ensure that the company is properly registered and therefore authorized to handle investments.

2. Decide how much to invest. Though mutual funds require investors to contribute a certain amount of money, you have full control over how much you are willing to give. As a beginner, it’s best if you start small or at the minimum amount. Then as you earn, you can invest the earnings into your account. This way, you don’t end up investing all the time but not getting something in return.

3. Determine where you want to invest. There are actually different types of online mutual funds, depending on the securities where you want to invest and the possible returns you can obtain. For example, there are mutual funds for bonds, stocks, and T-bills. It’s always recommended to diversify. This way, if you don’t earn much on stocks, you can depend on bonds. T-bills are the most secure. Needless to say, you have the authority on where to place your money.

4. Think long term. If you want to feel the impact of mutual funds, then you should be willing to invest in a long-term basis. This means you should wait around 2 to 5 years. This is because the value of your investments can fluctuate.

5. Don’t settle immediately for best-performing assets. Investments are risky since they can fluctuate. This is the reason why you should not immediately fall for those that are said to be best performing. They may earn well now but you are going to lose a lot the next day. Again, it’s a whole lot better to earn small but steady.

Making Your Banking Experience Truly Pleasurable (Part 1)

It’s never enough for consumers like us to find a bank that offers everything we need. We want them to provide us with great customer service for an enjoyable banking experience. However, what you don’t know is you can also help to ensure it yourself that it is a pleasurable one.

Here are some tips on how to do it:

1. Consider automated banking.

Singapore believes in automation. It makes things more efficient and fast. Majority of the banks already have their own website where you can open accounts, such as current accounts, foreign currency current accounts, saving accounts, fixed deposit, foreign currency saving account, and foreign currency fixed deposit. You can also apply for mortgages and credit cards.

2. Avail of VIP banking program.

If you have been a loyal client and you have invested a considerable asset, then it’s time to ask if you can avail of the VIP banking program. When you are part of the elite, you can have your own account manager, investment portfolio facilitator for faster service and authentication process. You can also easily open up new accounts.

3. Determine the various banking services for non-Singaporeans.

Some products and services are intended for permanent residents and citizens only. Get to know which ones are ideal to you, as a non-Singaporean, especially in the areas or mortgage and other types of loans. Avoid mulling over those that are not meant for you.

4. Always ask.

If something bothers you or you’re suspicious of, don’t be afraid to ask questions. Customer support is available 24 hours a day, 7 days a week. You can reach out to them through e-mail, landline phone, and fax. You will realize how you avoid going through a lot of hassle just by asking questions.

5. Know the schedules of banks.

Banks in Singapore are normally open from 9:30 a.m. to 3:00 p.m. Others do extend their times. Majority are open during Saturdays, while there are others who provide services on Sundays.

6. Research.

Before you open an account, get to know and prepare the required documents. Study how banks process accounts too, so you’d know what to expect when you go there.

How to Increase Your Foreign Currencies While in Singapore


One of the best investments you can make even when you’re in Singapore is foreign currencies. If you know how to pick your currencies right, then you will realize you can soften the impact of currency fluctuations. It’s also easy for you to do international business.

But how do you exactly increase your currencies while in Singapore? Here are good ideas:

Open your own foreign currency bank account.

There are two general types of foreign currency accounts you can open while you’re in Singapore. These are foreign currency savings account and foreign currency current account. The difference between the two is that the latter is as good as cash in the form of check. With the savings account, though, you may be provided with an ATM card, which you can use to withdraw funds in several automated teller machines in the country, as well as internationally.

Opening a foreign currency bank account doesn’t have to be too difficult. A number of banks accept non-Singaporeans, though you have a much higher chance of getting accepted if you’re already a citizen or a permanent resident, you already have an existing account in the bank, or you are at least 21 years old.

To apply you simply need to drop by the bank and submit all your required documents. For non-Singaporeans, you may be asked of your passport, employment pass, and salary certification, to name a few.

There are a number of things you need to consider before you officially open this bank account. First, know what types of currencies are being accepted. There are hundreds of currencies in the world, but only a few of them are accepted by banks. This is because they want to go for the most stable or the most traded. That’s why a foreign currency account may accept only 5 or 10 currencies maximum.

Then you need to have an idea about the opening balance. Usually you need to put up at least 2,000 SGD to open a foreign currency account. You also have to know about the minimum balance you should maintain. Sometimes it can differ among currencies. Other amounts you should be concerned of are overdrafts and below-the-limit fee. Most of all, determine how much interest you’re going to gain. This is how you can earn from your currencies. Most definitely the higher the interest the better.

To better monitor your account, look for a bank that has an online banking service. Even if you’re traveling, you can still keep track of the currencies going in and out of your bank.

Engage in forex trading.

Trillions of money go in and out of the forex market every year. That basically tells you how huge and successful forex trading is. Moreover, because of the presence of trading platforms, you can trade at the comforts of your own home. Unlike in foreign currency accounts, there are more major players in forex trading, around 100 or more.

To begin forex trading, you need to have a forex broker. If you wish to make use of the platform, then it’s best if you can try the demo account. Though only good for a couple of days, you will have a general idea of how the technology works and how to trade in real time. You don’t have to worry about funds, since you’re given virtual money.

If you want to utilize a real forex broker then you have to choose wisely. First he or she must be certified or properly registered. The person should exhibit excellent knowledge and skill in forex trading. It is also essential he or she respects your financial decision, though your forex broker is free to provide comments or pieces of advice to you.

If there’s one huge negative thing about forex trading, it’s the fact that it’s risky. There’s no guarantee you will profit all the time. Nevertheless, there are also ways on how you can soften the impact of your losses.

Purchase a mutual fund.

Actually there are many different types of mutual funds, and one of these is called currency mutual funds. Like forex trading, you invest your mutual funds in a variety of currencies. However, you will feel the success of your investment in the long term. That’s why you have to be very patient. Hedging is usually undertaken to soften the blow of currency fluctuations.

Invest in certificates of deposit.

You can further diversify your account by investing in certificates of deposit. You can get them from banks, so you still need to inquire if they offer such portfolio. But if ever they do, you can actually invest your CDs in several foreign currencies. The interest rates will be based on the chosen currencies.

Diversification is key when it comes to boosting your foreign currencies. Couple it with persistence, clear knowledge, and discipline, surely you’re on your way to increasing your wealth in Singapore.

Rules on How to Be Successful in Forex

Success in forex can be formed by adopting a number of strategies. And making use and following the right rules. Each of the rules are important in each own special ways. But when all of these rules are followed and the right strategies are implemented, then the effects are strongly positive. For this reason, it is important that you follow all rules in order to increase the chances of succeeding when participating in forex.

  1. Don’t get into the market without a trading plan. It’s like getting into the war without being backed by arms. In foreign exchange, the plan identifies the possible entry and exit from a position and also underlines the money management criteria. The good news is that the technology has given traders with the capability to test some moves and trades before actually performing and risking real money. This is called backtesting which allow users to test trading based on historical information. This form of testing is good if checking the viability of the plan. Once the backtesting has revealed positive results, then the real trading can be initiated. And when you are in this market, it is always important to stick on the plan even though at the start the plan seems to be encountering a rough spot.
  2. When participating in this kind of trading, consider this as a serious business. Though this is just a part-time on your part, still there should be that valuation that this is a serious business. Just like the regular business, usual setbacks like expenses and losses may occur and you should be ready to face these.
  3. Take advantage of technologies. Often the success in this kind of market can be defined by the extent of technology use. And it is safe to assume that majority of the successful forex traders are maximizing the newest technologies. One such technology that can be used is charting platforms. These platforms can be used to view and analyze the market. Also, did you know that smart phones can now be used in tracking market and currency movements? Using all these technologies allow each player to fully grasp the market.
  4. Always follow the market movements. Getting into the market is like a continuing education. You have to pay attention to the market- how it moves and how it operates. It is also important to be knowledgeable in economic indicators. All these things will help you and the investors form important decisions and trades.
  5. In this business, it is important to risk what you can afford to lose. Losing all money including the one that can be used for education is never a wise move.
  6. In relation to this, it is best if you know how to stop trading. There’s a time to stop the financial bleeding and this happens if the trading plan is not working, or you are simply an ineffective trader. Perhaps this is the time to reevaluate the plan, or to simply leave forex for good.

These rules are just the starters. There are advanced rules in forex that can be considered as well. But when all these are considered, then your engagement with forex will be a fruitful one. fffff