【明報專訊】■AIA保單成立形式，如果附設條款中有「bankruptcy remote」及用信託形式處理保單，萬一母公司進入破產程序，保險公司還是可以按照正常情况，因應客戶要求作日常賠償及退保等；若沒有這條款，當母公司進入破產程序，就算保單持有人要索償，也要全球一齊排隊，要排到何時則難說
■一般保險保單的受保人要索償或提取資金，主要看現金價值，供款期愈長現金價值愈大，故頭兩三年新做保單受保人受今次事件影響不大，「Cut單」與否要視乎個人情况
■現金價值屬高或者已差不多取回已供保費的受保人，如果「Cut單」，就可免萬一AIG破產而受到影響
■終止保單取回現金一般需時一個月，另一方法是使用持有的人壽保險單去貸款，保險公司貸款手續寬鬆，如購買有儲蓄成分的保險，毋須任何證明文件及抵押，已可借到不高於保單列明保金的金額
post from yahoo.hk
Wednesday, September 17, 2008
AIA保單持有人自救法
【明報專訊】■儲蓄保險
若供款多年，累積了一定水平現金紅利，美聯金融集團行政總裁施德芝建議「錢在身邊較安全」，現時最好終止保單取回保金；若只供了一兩年，現金價值不高，無論AIA是否「出事」，斷單的作用也不大
■醫療保險
萬一保險公司進入破產程序，所有保單持有人會成為債權人，要索償就要排隊申索，隨時要等一年半載。受保人若擔心中途遇上意外未獲賠償，最好先將醫療保險轉至第二間公司，但要留意須成功投保新保險公司及保單生效後才斷單，以防未能享有保障
■投資相連保險
尚乘財富策劃董事兼行政總裁曾慶璘坦言，投保人若押注在環球基金，當中又主打歐美等股票或債券，投資回報會受重創。不過，由於AIA只是扮演中介人、託管人角色，在今次事件中最不受影響，取不取回有關資金，要視乎投資者是否急於用錢，若在市况不好時沽出基金，將要承受投資損失
Post from yahoo.hk
若供款多年，累積了一定水平現金紅利，美聯金融集團行政總裁施德芝建議「錢在身邊較安全」，現時最好終止保單取回保金；若只供了一兩年，現金價值不高，無論AIA是否「出事」，斷單的作用也不大
■醫療保險
萬一保險公司進入破產程序，所有保單持有人會成為債權人，要索償就要排隊申索，隨時要等一年半載。受保人若擔心中途遇上意外未獲賠償，最好先將醫療保險轉至第二間公司，但要留意須成功投保新保險公司及保單生效後才斷單，以防未能享有保障
■投資相連保險
尚乘財富策劃董事兼行政總裁曾慶璘坦言，投保人若押注在環球基金，當中又主打歐美等股票或債券，投資回報會受重創。不過，由於AIA只是扮演中介人、託管人角色，在今次事件中最不受影響，取不取回有關資金，要視乎投資者是否急於用錢，若在市况不好時沽出基金，將要承受投資損失
Post from yahoo.hk
Government announces $85 billion loan to save AIG
WASHINGTON - In a bid to save financial markets and economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion emergency loan to rescue the huge insurer AIG. The Federal Reserve said in a statement it determined that a disorderly failure of AIG could hurt the already delicate financial markets and the economy.
It also could "lead to substantially higher borrowing costs, reduced household wealth and materially weaker economic performance," the Fed said.
"The President supports the agreement announced this evening by the Federal Reserve," said White House spokesman Tony Fratto. "These steps are taken in the interest of promoting stability in financial markets and limiting damage to the broader economy."
Treasury Secretary Henry Paulson said the administration was working closely with the Fed, the Securities and Exchange Commission and other government regulators to "enhance the stability and orderliness of our financial markets and minimize the disruption to our economy."
"I support the steps taken by the Federal Reserve tonight to assist AIG in continuing to meet its obligations, mitigate broader disruptions and at the same time protect taxpayers," Paulson said in a statement.
The Fed said in return for the loan, the government will receive a 79.9 percent equity stake in AIG.
Earlier, Fed chairman Bernanke and Paulson met with Sen. Christopher Dodd, D-Conn., Majority Leader Harry Reid, D-Nev., and House Republican leader John Boehner of Ohio, to brief them on the government's option.
"At the administration's request, I met this evening with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. They expressed the administration's views on the deepening economic turmoil and shared with us their latest proposals regarding AIG," Reid told reporters. "The Treasury and the Fed have promised to provide more details in the near future, which I believe must address the broader, underlying structural issues in the financial markets."
On Tuesday, shares of the insurance company swung violently as rumors of potential deals involving the government or private parties emerged and were dashed. By late Tuesday, its shares had closed down 20 percent _ and another 45 percent after hours. Still, no deal emerged.
The problems at AIG stemmed from its insurance of mortgage-backed securities and other risky debt against default. If AIG couldn't make good on its promise to pay back soured debt, investors feared the consequences would pose a greater threat to the U.S. financial system than this week's collapse of the investment bank Lehman Brothers.
The worries were triggered after Moody's Investor Service and Standard and Poor's lowered AIG's credit ratings, forcing AIG to seek more money for collateral against its insurance contracts. Without that money, AIG would have defaulted on its obligations and the buyers of its insurance _ such as banks and other financial companies _ would have found themselves without protection against losses on the debt they hold.
"It might not just bring down other financial institutions in the U.S. It could bring down overseas financial institutions," said Timothy Canova, a professor of international economic law at Chapman University School of Law. "If Lehman Brother's failure could help trigger AIG's going down, who knows who AIG's failure could trigger next."
New York-based AIG operates an insurance and financial services businesses ranging from property, casualty, auto and life insurance to annuity and investment services. Those traditional insurance operations are considered healthy and the National Association of Insurance Commissioners said "they are solvent and have the capability to pay claims."
Post from yahoo.sg
It also could "lead to substantially higher borrowing costs, reduced household wealth and materially weaker economic performance," the Fed said.
"The President supports the agreement announced this evening by the Federal Reserve," said White House spokesman Tony Fratto. "These steps are taken in the interest of promoting stability in financial markets and limiting damage to the broader economy."
Treasury Secretary Henry Paulson said the administration was working closely with the Fed, the Securities and Exchange Commission and other government regulators to "enhance the stability and orderliness of our financial markets and minimize the disruption to our economy."
"I support the steps taken by the Federal Reserve tonight to assist AIG in continuing to meet its obligations, mitigate broader disruptions and at the same time protect taxpayers," Paulson said in a statement.
The Fed said in return for the loan, the government will receive a 79.9 percent equity stake in AIG.
Earlier, Fed chairman Bernanke and Paulson met with Sen. Christopher Dodd, D-Conn., Majority Leader Harry Reid, D-Nev., and House Republican leader John Boehner of Ohio, to brief them on the government's option.
"At the administration's request, I met this evening with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. They expressed the administration's views on the deepening economic turmoil and shared with us their latest proposals regarding AIG," Reid told reporters. "The Treasury and the Fed have promised to provide more details in the near future, which I believe must address the broader, underlying structural issues in the financial markets."
On Tuesday, shares of the insurance company swung violently as rumors of potential deals involving the government or private parties emerged and were dashed. By late Tuesday, its shares had closed down 20 percent _ and another 45 percent after hours. Still, no deal emerged.
The problems at AIG stemmed from its insurance of mortgage-backed securities and other risky debt against default. If AIG couldn't make good on its promise to pay back soured debt, investors feared the consequences would pose a greater threat to the U.S. financial system than this week's collapse of the investment bank Lehman Brothers.
The worries were triggered after Moody's Investor Service and Standard and Poor's lowered AIG's credit ratings, forcing AIG to seek more money for collateral against its insurance contracts. Without that money, AIG would have defaulted on its obligations and the buyers of its insurance _ such as banks and other financial companies _ would have found themselves without protection against losses on the debt they hold.
"It might not just bring down other financial institutions in the U.S. It could bring down overseas financial institutions," said Timothy Canova, a professor of international economic law at Chapman University School of Law. "If Lehman Brother's failure could help trigger AIG's going down, who knows who AIG's failure could trigger next."
New York-based AIG operates an insurance and financial services businesses ranging from property, casualty, auto and life insurance to annuity and investment services. Those traditional insurance operations are considered healthy and the National Association of Insurance Commissioners said "they are solvent and have the capability to pay claims."
Post from yahoo.sg
Sunday, September 14, 2008
Good advise(2)
*Here are some great ways of dealing with the burdens of life:*
* Accept that some days you're the pigeon, and some days you're the statue.
* Always keep your words soft and sweet, just in case you have to eat them.
* Always read stuff that will make you look good if you die in the middle of it.
* Drive carefully. It's not only cars that can be recalled by their maker.
* If you can't be kind, at least have the decency to be vague.
* If you lend someone $20 and never see that person again, it was probably worth it...
* It may be that your sole purpose in life is simply to be kind to others.
* Never put both feet in your mouth at the same time, because then you
won't have a leg to stand on.
* Nobody cares if you can't dance well. Just get up and dance.
* Since it's the early worm that gets eaten by the bird, sleep late.
* The second mouse gets the cheese.
* When everything's coming your way, you're in the wrong lane.
* Birthdays are good for you. The more you have, the longer you live.
* You may be only one person in the world, but you may also be the world to
one person.
* Some mistakes are too much fun to only make once.
* We could learn a lot from crayons ... some are sharp, some are pretty and
some are dull. Some have weird names, and all are different colours, but
they all have to live in the same box.
* A truly happy person is one who can enjoy the scenery on a detour.
*Have an awesome day and know that someone has thought about you today
FW: Good Advice
*Stress*
A lecturer, when explaining stress management to an audience, raised a glass of water and asked: 'How heavy is this glass of water?'
Answers called out ranged from 20g to 500g.
The lecturer replied, 'The absolute weight doesn't matter. It depends on how long you try to hold it.
If I hold it for a minute, that's not a problem
If I hold it for an hour, I'll have an ache in my right arm.
If I hold it for a day, you'll have to call an ambulance.
In each case, it's the same weight, but the longer I hold it, the heavier
it becomes.'
He continued, 'and that's the way it is with stress management. If we carry our burdens all the time, sooner or later, as the burden becomes increasingly heavy, we won't be able to carry on.'
'As with the glass of water, you have to put it down for a while and rest before holding it again. When we're refreshed, we can carry on with the burden.'
'So, before you return home tonight, put the burden of work down. Don't carry it home. You can pick it up tomorrow. Whatever burdens you're carrying now, let them down for a moment if you can.', my friend put down anything that may be a burden to you right now. Don't pick it up again until after you've rested a while.
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