How many of you have watched this latest movie, “The Avengers”?

For every 10 of you reading this blog post, I can guarantee at least 5-6 of you have watched this movie, because it is soooo popular…

My facebook feeds are flooded with people “checking in” the cinema to watch the movie or filled with snippets of reviews, line of thoughts about the movie. Overall, the movie was awesome, though I feel, some part of it should be trimmed away. i love fast action movie

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So, what does Avengers got to do with financial planners in Singapore?

When I first watched the movie with my girlfriend, the first thing that struck me about the movie other than the explosive stuffs, was the importance of taking responsibility and teamwork.

As a financial planner, clients entrust us with their money. We need to take responsibility to manage their money well, recommending them plans, consistent with their risk profile.

We need to take responsibility to provide them with a trusted counsel, by placing their interest at heart. instead of our company

We need to take responsibility to be open, honest and transparent with all our clients, at all times in our professional dealings. Do not suppress information, omit, delete or adjust, just to induce a sale..

If we can take responsibility, take ownership to help our client meet their financial goals while advocating such principles…….. This is what I call, the champion mindset with a loving heart!

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Second lesson that I get from the movie is the power of teamwork.

Recently, NTUC Income Muslim financial consultants did a roadshow at the Halal Food Expo 2012. To get our company to subside the rental fee + set up cost, we need to hit a certain target, a multiplier of the total roadshow costs.

As this is one of the roadshows that involved high costs, naturally the target is high. A few of our top producers contributed, but we still plagued with an irritating shortfall. Alhamdulillah, when all gives their share, we hit the target set, and get our roadshow subsidised.

This can only happen with the power of teamwork. Instead of relying on the producing consultants in the team, all put in effort and give their bit. That is where, goals are achieved and barriers are lifted. Hope you learn something from this post. Insya’Allah.

My other related posts that may interest you:

• The Best ROI for Regular Premiums ILP In The Whole Industry, In Singapore
• What Is The Single Most Important Lesson You Learnt In Personal Finance?
• Real Reasons Why Financially Successful People Continue To Work Hard….

 They are claiming that only their insurance company provides investment in Takaful fund.

Dont be misled. Till date, I do not understand why this group of individuals need to mislead the public that only their insurance company promotes Takaful investment funds. My opinion, even if you want to claim monopoly over shariah compliance funds, there is no need to bring down other Muslim financial planners from other insurance companies in Singapore.

For the record, I am writing this blog post, to balance the perpetuated, biased views, on Islamic finance in Singapore…. and I will like to put things in the correct perspectives.

NTUC Income Cooperative, Muslim financial consultants also promotes Takaful fund. http://www.income.com.sg/fund/frame.asp?fundid=4

We do not want war. We want peace. Wassalam.

My other related posts that may interest you:

• Is there such thing as Halal Insurance In Singapore?
• Q & A on NTUC Income Investment Linked Policy
• What to Look For In an Investment Linked Policy?

You can contact me, Financial Consultant, Helmi Hakim @ 96520134 for more details.

I will be very happy to assist you!

My other related posts that may interest you:

• Singaporeans……Answer these 5 Questions Honestly Or Else….
• Reduction Of Posts To Once A Week…
• Personal Finance Is Meant To Be Simple.

(Myself and my client interviewed by BERITASuria, Malay news channel, few days ago. Click the link to view video)

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This new fatwa, is a fatwa that has been much welcome by the Muslim community who owns  insurance policies in Singapore .

The fatwa will affect all Muslims who have an insurance policy with insurance companies in Singapore with effect from Sept 2009. This is because since Sept 2009, Muslims can only use irrevocable nomination for their insurance policies and there are many limitations to it.

This fatwa does not affect policy taken before Sept 2009.

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 Before : Can only make Irrevocable nomination.

When a policyholder does an irrevocable nomination, he will automatically gives up right of the policy to nominees. He cannot take a loan on the policy without the approval of the nominee and worst still if there are more than 1 nominee.

As he has given out his right, the maturity of his insurance policy will also not be his but belongs to the nominee(s).

If he is single, he will face problem as he cannot  nominates his parents, as stated in the form only nomination of spouse or children are allowed.

If he is married, he cannot change his nominees on his own accord. He needs to seek permission from his nominee(s). Things get complicated, if husband and wife faced marital problems and then divorced.

For policies with critical illness coverage, should he make a claim due to diagnosis of any of the illness, the claim proceeds will be payable to the nominee. Though the nominee can give back to the policyholder, but why can’t it be paid directly to him. At the state that he is in, it seems like he has to beg for it. What if..what if..the nominee are not ‘trustworthy’?

Now : with revocable nomination.

Alhamdulillah, now with revocable nomination, he is free to nominate anyone he wants. There is no need to go through the emotional trauma of ‘not trustworthy nominee’ as he can change the nomination without the nominee approval, in the future.

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On a sidenote, if you have a portfolio of insurance policies, endowment, annuity, or investment linked policies with your insurance companies, and you need help to do revocable nomination, you can call always call me for assistance. I will be very happy to help you. Insya’Allah…

My other related posts that may interest you:

• Why Yearly Financial Review Is Very Important???
• Vivolife : NTUC Income Limited Premium Insurance Policy
• Insurance Riders: What The Heck Is This All About?

There are basically 2 broad categories of schemes for the civil servants. Non MSO and MSO.

CPW and CCS (Non MSO) are schemes for civil servants who joined before the year 1994.

Whereas MSO, are schemes for Civil Servants who joined after 1994.

If you are a civil servant, who joined after year 1994, you do not have any medical insurance coverage. The government of Singapore credits additional monthly 1% of your payroll to your Medisave for you, to buy a private hospitalisation insurance plan.

To me, it surprising, when I realise that a lot of civil servants, do not have a comprehensive medical coverage for themselves and their love ones. In my 4+ years of experience, as a financial consultant, I have only done 4 death claims, but for hospitalisation claims, I have done many…. Below is an example, of one of my client’s son who was hospitalised at a private hospital in Singapore recently.

Protect your love ones. If you and your family do not have a comprehensive medical insurance coverage and have been contemplating to get yourself covered, I urge you to take action now.

This is because the cooperative is giving 10% discounts on first-year’s premiums when you sign up for IncomeShield plan from now till 30th April 2012. Call me, and I will assist you!

My other related posts that may interest you:

• Why You Must Get Your Hospitalisation Insurance Plan COMPLETE With The Rider….
• Medishield Coverage For All Newborn Singaporeans And Permanent Residents
• Top 5 Reasons Why You Must Have Insurance