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SBC

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Probably say yes for CPF MSS. Not too sure when switch to CPF Life.
 
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ocs_woodlands

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seller2004 said:
Care to explain comparing cpf with insurance?
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Cpf life is an annuity backed by the Singapore govt. a commercial annuity is backed by an insurance company.

In 2008, the world's largest insurance company, AIA had to be rescued by the Feds. So far, Singapore govt has not had to be rescued yet :s13::s13:
 
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akwl88

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Earn more, spend less and invest. Term plan and H/S plan and CPF.
 
henrylbh

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ocs_woodlands said:
Cpf life is an annuity backed by the Singapore govt. a commercial annuity is backed by an insurance company.

In 2008, the world's largest insurance company, AIA had to be rescued by the Feds. So far, Singapore govt has not had to be rescued yet :s13::s13:
Click to expand...

Looking at the financial numbers of some of the insurance companies at that time, you wouldn't believe that they may be insolvent had the crisis persist. One of them was so clear that the diminution in the market value of just its top ten investments would turn the company's equity into negative!!
 
henrylbh

henrylbh

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sashti90 said:
Hi, as mentioned by several members AXA's RetireHappy plan is a pretty good plan. It is an annuity- you put in say $500/month for 15 years, let it accumulate for another 5 years, you can get back about $1,100/month for the next 15 years (good passive income) as well as a lumpsum payout at the end.

Mod:Unsolicited Content (Commercial solicitation / Ads / Referrals / Spam)
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Is $1,100 pm Guaranteed for 15 years?
 
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antonpoh

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ocs_woodlands said:
Cpf life is an annuity backed by the Singapore govt. a commercial annuity is backed by an insurance company.

In 2008, the world's largest insurance company, AIA had to be rescued by the Feds. So far, Singapore govt has not had to be rescued yet :s13::s13:
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Actually Feds didn't rescued AIA. Don't know where you get that news.

AIG to raise up to $6.5 billion through AIA share sale

If you see how sg gahmen cover their 2008 losses, they just keep holding or write off those they can't rescue. :s22:

Temasick Portfolio Lost $39.91 Billion
 
henrylbh

henrylbh

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antonpoh

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henrylbh

henrylbh

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antonpoh said:
AIA sg was making money, it's the only thing AIG can sell to return some of the bailout funds from the Feds.

http://upstart.bizjournals.com/news/wire/2008/11/11/aig-under-fire-again-for-lavish-spending.html?page=all

Anyway once i heard bad news about AIG i sold all my unit trust with them.
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How do you know AIA sg was making money? That time the investments of many insurers were badly hit - enough for them to go into deficit. That's why I strongly disagree that insurers and banks should follow the standard of recognising fair value gain.
 
antonpoh

antonpoh

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henrylbh said:
How do you know AIA sg was making money? That time the investments of many insurers were badly hit - enough for them to go into deficit. That's why I strongly disagree that insurers and banks should follow the standard of recognising fair value gain.
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If AIA is not making money, den AiG won't be able to sell it for 6.5 billion.

AiG went into deficit because they also manage funds and on a down turn many wanted to cash out.

Just my view, insurers and banks are more conservative and not reckless like temasick.
 
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