http://financial.xiemeishi.com/

Xie Meishi, 180 Kitchener Road #09-01/06, Singapore (2026)

25/01/2024

I have seen many people overlook the importance of insurance.

I do not think that they have difficulty understanding what each insurance policy covers. 📝

Rather, the lens of seeing how paying regular premiums for insurance becomes just another expense or an unnecessary burden.🔍

I feel that way too... 😶‍🌫️
.. Especially when my premium date is around the corner.

However, I do strongly believe that getting the right insurance during your unique phase of life is crucial for any solid financial plan.

What do you think?

29/12/2023

As we reflect on 2023, many of us may feel a sense of dissatisfaction and confusion when it comes to our finances. 😳

We may have felt lost, unsure of how to make progress or achieve our goals. 🛣️

Amidst these feelings, we often find ourselves wondering why we haven't been able to create the financial stability and success we desire. 🚩

We may question our choices or feel overwhelmed by the challenges we've faced.🤯

𝘐 𝘬𝘯𝘰𝘸 𝘐 𝘩𝘢𝘷𝘦.

But here's the thing...
.. 2024 can be a fresh start. It's the perfect time to set new financial goals and create a roadmap for success. 💰

By taking the time to plan and set clear intentions, we can regain control over our financial future and move towards a more satisfying and fulfilling life. ☺️

𝘗.𝘚. 𝘐 𝘧𝘪𝘯𝘥 𝘪𝘵 𝘶𝘴𝘦𝘧𝘶𝘭 𝘵𝘰 𝘸𝘳𝘪𝘵𝘦 𝘮𝘺 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘨𝘰𝘢𝘭𝘴 𝘥𝘰𝘸𝘯 𝘰𝘯 𝘮𝘺 2024 𝘱𝘭𝘢𝘯𝘯𝘦𝘳 𝘴𝘰 𝘵𝘩𝘢𝘵 𝘐 𝘤𝘢𝘯 𝘳𝘦𝘧𝘦𝘳 𝘵𝘰 𝘵𝘩𝘦𝘮 𝘢𝘯𝘥 𝘴𝘵𝘢𝘺 𝘰𝘯 𝘤𝘰𝘶𝘳𝘴𝘦.

20/12/2023

With the impending increase of the GST to 9%, it is crucial to carefully assess your financial situation and strategize for your expenses. 📝

One of the ways to cut down on expenses is to reduce taxes by making use of tax reliefs — which are deductions or exemptions from taxable income.💰

✨𝘊𝘶𝘦𝘴 𝘚𝘶𝘱𝘱𝘭𝘦𝘮𝘦𝘯𝘵𝘢𝘳𝘺 𝘙𝘦𝘵𝘪𝘳𝘦𝘮𝘦𝘯𝘵 𝘚𝘤𝘩𝘦𝘮𝘦 (𝘚𝘙𝘚) ✨

When you put money into your SRS account, your taxable income will consequently be reduced. 🏦

💡Depending on the tax bracket your reduction of taxable income falls in, you can save up to $800 in taxes.

Planning your finances does not need to be complicated. Start now and save more with the SRS Scheme. 🤗

11/12/2023

📢 How many of us are truly open and transparent about our finances when seeking insurance plans? 📢

𝘤𝘳𝘪𝘤𝘬𝘦𝘵 𝘴𝘰𝘶𝘯𝘥𝘴

Most of us hesitate to fully disclose our financial status and goals, even to our trusted financial advisors.🫨

As a traditional Asian, discussing money matters openly is often challenging.

Some of my clients have already conducted thorough research on the plans they need and their costs before meeting me. 🧑🏻‍💻

Others struggle to remember their existing plans and require a review and revision. 🤔

However, regardless of the type of client you may be, one thing remains undeniable — having a financial advisor who comprehends your needs and goals is vital for achieving financial stability and security. 😇

If you haven't done a portfolio summary already, seek out an advisor whom you trust and feel at ease sharing your financial information with, and cultivate a relationship based on trust and mutual understanding. 🤩

02/12/2023

Your dog has chewed up your insurance policies, leaving you unsure about your coverage in case of hospitalization. 😱🐕⁉️

You are overwhelmed by the incessant flow of insurance letters reminding you to pay for your next renewal cycle and providing updates that you are disinterested in. 🫥

So, what's the solution?

1️⃣ Contribute to recycling ♻️

2️⃣ Organize the papers for future reference, knowing that you'll address them when the time is right 🖇️

If you're finding it mentally exhausting to determine whether you have a private hospitalization plan in addition to Medishield Life (which is compulsory for all Singaporeans and PRs)...
.. this short video guide is here to help! 📽️

There are currently 7 insurance companies that offer Integrated Shield Plans (IP):

1. Prudential
2. AIA
3. Great Eastern
4. HSBC Life
5. NTUC Income
6. Singlife
7. Raffles Medical Group

Make sure you know what you have and don't have.

Review your coverage annually so you can make necessary changes to your insurance policies without wasting money on duplicate coverage. 🤑

11/11/2023

How often do we find ourselves saying, "If only..."?

It is inherent in human nature to experience a longing or yearning to alter the past.

But what I am truly saying is...

Insurance doesn't necessarily solve all our problems.

It is a form of risk management, and while it can help alleviate some of our possible financial worries—it cannot erase them completely.

Carl and Ellie's plans were often thwarted by unforeseen circumstances and unexpected expenses.

From another perspective, their Paradise Falls trip had fallen down the priority list as they aged and faced more pressing matters such as health concerns, retirement, and really... just living.

It prompted me to contemplate the fundamental aspects that hold true significance in life—our well-being, connections, and moments we cherish.

Dig deep into your purpose to uncover your WHY, and perhaps use insurance as a means to reach your end goal quicker.

13/10/2023

"I am truly sorry. The underwriting outcome has an exclusion based on the health declaration."

As I hit the "send" button, I knew what was to come. The client's furious response would be filled with accusations of poor service, inconsiderate behavior, and a lack of understanding of their urgent financial needs.

True enough, the client ultimately opted to change their advisor (me) and secured a policy with a different insurer.
The successful reason for zero exclusions—withheld information in the health declaration submission.

While the client currently has a policy without any exclusions, the insurer still reserves the right to challenge claims when they are submitted.

This means that the insurer will check the declared health conditions against all documents provided during the claim process.

If any discrepancies are found, the insurer may refuse to pay out the claim.

Losing a client in exchange for full transparency and integrity may seem like a high price to pay, but it is crucial in maintaining the trust and credibility of the financial advisor-client relationship.

28/09/2023

Want to level up in life? Focus on personal growth, health, and relationships.

But don't forget about financial planning.

22/09/2023

My breath quickened.

𝑊𝑎𝑠 𝑠ℎ𝑒 𝑔𝑜𝑖𝑛𝑔 𝑡𝑜 𝑠𝑒𝑙𝑙 𝑚𝑒 𝑠𝑜𝑚𝑒𝑡ℎ𝑖𝑛𝑔?

𝑊𝑖𝑙𝑙 𝐼 𝑏𝑒 𝑎𝑏𝑙𝑒 𝑡𝑜 𝑡𝑒𝑙𝑙 ℎ𝑒𝑟 𝑛𝑜?

I don't like the feeling of being pressured into something I don't need.

And because of that, I lost a long-time friend who started in the insurance industry in her early 20s.

I had no doubt that she had my interests at heart and wanted me to start off with some protection coverage.

But I couldn't bring myself to do it, and she was hurt by my refusal.

We often think of insurance as a necessary evil. 😈

We need health and life insurance coverage in case something happens, but we don't want to feel like we're being "sold" something.

It's important to find an agent who respects your decisions and is willing to work with you.

Find someone who is transparent and upfront with what they are offering, as well as one that you can trust.

If you are not mentally or emotionally ready to commit, you should be allowed the freedom to decide when it is right for you.

08/09/2023

𝙒𝙝𝙖𝙩 𝙖𝙧𝙚 𝙧𝙞𝙙𝙚𝙧𝙨 𝙞𝙣 𝙞𝙣𝙨𝙪𝙧𝙖𝙣𝙘𝙚 𝙥𝙡𝙖𝙣𝙨❓

Riders are additional coverage options that can be added to an insurance plan. They provide additional protection for specific items or scenarios not covered by the main policy.

Depending on the type of rider, they may offer more coverage in a certain area, such as a disability benefit, or provide coverage for different kinds of losses, such as an accidental death benefit.

𝘾𝙖𝙣 𝙧𝙞𝙙𝙚𝙧𝙨 𝙗𝙚 𝙗𝙤𝙪𝙜𝙝𝙩 𝙖𝙨 𝙖 𝙨𝙩𝙖𝙣𝙙𝙖𝙡𝙤𝙣𝙚 𝙬𝙞𝙩𝙝𝙤𝙪𝙩 𝙩𝙝𝙚 𝙢𝙖𝙞𝙣 𝙥𝙡𝙖𝙣❓

No, riders are only available for purchase in conjunction with a main plan or policy.

Riders provide additional coverage beyond what is offered with the base policy and cannot be purchased separately.

Depending on the type of rider, there may also be certain eligibility requirements that need to be met in order for the rider to be valid.

𝘿𝙤 𝙬𝙚 𝙧𝙚𝙖𝙡𝙡𝙮 𝙣𝙚𝙚𝙙 𝙧𝙞𝙙𝙚𝙧𝙨 𝙞𝙣 𝙤𝙪𝙧 𝙞𝙣𝙨𝙪𝙧𝙖𝙣𝙘𝙚 𝙥𝙡𝙖𝙣𝙨❓

Riders are not necessary for every insurance plan.

They can be a useful addition to an existing policy. However, they provide more protection and coverage for specific scenarios that may not be included in the main coverage.

It's important to consider your needs and budget when deciding whether or not a rider is right for you.

While riders can provide valuable additional protection, it's important to make sure that the premiums are worth the added coverage.

23/08/2023

🌍 Today, let's discuss integrated shield plans—a vital piece in your healthcare planning puzzle.

👩‍⚕️ You’ll learn about the riders in your Private Integrated Shield Plan and what co-insurance and deductible riders are.

From there, you can better understand how these riders kick in when this hospitalization plan gets triggered by a need for surgery or you have to be warded due to various health or medical reasons.

🔍 As a reminder, the main purpose of integrated shield plans is to provide you with additional coverage for your hospitalization expenses at private hospitals and A-class wards in public hospitals.

17/08/2023

Integrated Shield Plans (IP) are private health insurance policies that cover hospitalization and certain major medical costs on top of what is covered by MediShield Life.

Deciphering the intricacies of the Integrated Shield Plan (IP) and distinguishing it from MediShield Life can indeed pose challenges.

The first hurdle lies in understanding insurance terminologies and the exact benefits offered by IP.

Unlike MediShield Life which is a basic health insurance plan for all Singaporeans and permanent residents, IP is a private insurance policy that provides additional health coverage on top of what MediShield Life offers.

The complexity of the different types of IP plans available is another stumbling block.

Each insurer offers distinct plans with varying premiums and the extent of coverage. This diversity can leave policyholders confused, trying to strike a balance between cost and comprehensive coverage.

Furthermore, comparing IP with MediShield Life necessitates an understanding of how the basic health care coverage provided by MediShield Life is incorporated into IP.

While MediShield Life provides coverage for life with payouts for hospitalization in B2 or C class wards in public hospitals, IP extends this coverage to include stays in private hospitals or Class A/B1 wards in public hospitals, with additional benefits depending on the specific plan.

In a nutshell, it is this enhanced coverage that sets IP apart from MediShield Life.

Xie Meishi

25/01/2024

29/12/2023

20/12/2023

11/12/2023

02/12/2023

11/11/2023

13/10/2023

28/09/2023

22/09/2023

08/09/2023

23/08/2023

17/08/2023

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