On 1st September 2009 a new Insurance Nomination law was introduced under the Insurance Act. This new law allows you to nominate who you wish to receive the proceeds from any life, accident and health policy that you have or are planning to buy. In the first of a two part article, MoneySENSE explains the different types of nominations you can make and how you can make them.
In the second article on the new Insurance Nomination law, MoneySENSE explains how the new law applies to different types of policies and how it might affect any existing insurance policy that you already have.
Exchange Traded Funds (ETFs) are often described as instruments that give investors the benefits of diversification at a low cost. However, it is important to remember that they are investments and therefore are not risk-free. ETFs can also have different structures and levels of complexity. This article explains the different types of ETFs available, the benefits and risks of investing in ETF's and what to look out for before investing. Click hereto read the article.
9 October 2009 - New MoneySENSE Articles
MoneySENSE has just uploaded several new articles on personal finances. Click on the following topics to learn more:
The Life Insurance Association, Singapore (LIA) has launched a new consumer guide entitled "Your Guide to the Nomination of Insurance Nominees". The guide explains how the new insurance nomination law, which came into effect on 1 September 2009, applies to various types of insurance policies. Click here to download the guide in English (PDF, 5.17MB) or Chinese (PDF, 7.04MB)
On 4 Sep 2009, the Association of Banks in Singapore (ABS) announced new measures to limit credit cardholders' liability. Click here to view ABS' press statement. Notwithstanding, taking care of your credit cards remains essential to protect yourself against credit card fraud. Even after banks introduce a cap on cardholders’ liability with effect from 1 Nov 2009, you will need to continue to safeguard your credit cards. The banks can still hold you liable for unauthorised transactions charged to your card if you have acted fraudulently, with gross negligence or failed to notify the card issuer as soon as you become aware that your card has been lost or stolen. Click here for a few key steps you should take to safeguard your credit cards.
