Singapore Insurance

After certain groups were asking that Medisave be allowed for the detection of breast cancer, Health Minister has responded. I agree with his response and feel that medisave should be indeed kept for a rainy day instead. HEALTH Minister Khaw Boon Wan said on Sunday that he was 'sympathetic' towards the need for women to have mammograms, but said he was concerned about people depleting their Medisave accounts too quickly. Speaking after house visits where he helped distribute food hampers to 260 households in a rental block in Marsiling, he said: 'Don't forget, Medisave was for hospitalisation. It is for sick people - in fact, very sick people, who have bills of around $2,000.' He was responding to an appeal from Minister in the Prime Minister's Office Lim Hwee Hua to let women use Medi-save to pay for breast cancer screenings. Mrs Lim said on Saturday that helping women aged 50 to 69 form a habit of screening for breast cancer every two years is a current priori...

Just managed to browse through the news to see this article pasted below: UNITED Overseas Bank (UOB) has sold its life insurance unit for $428 million to UK's biggest insurer Prudential, in a move that will free up some capital to strengthen its core banking business. The so-called 'alliance' will see UOB distribute Prudential's life, accident and health insurance products in Singapore, Indonesia and Thailand for at least 12 years. UOB Life Assurance, which was incorporated in Singapore in 1990, has over $2 billion in assets as at September last year. It also has 50,000 policyholders who hold a total of 70,000 policies. It has no agents. UOB Life's products are distributed mainly through channels like bancassurance - or the sale of insurance and other similar products through a bank - and through independent financial advisers. At a briefing on Wednesday, UOB Group's deputy chairman and chief executive Wee Ee Cheong said that UOB Life is a 'relatively small ...