FAQ


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Frequently Asked Questions

UPDATED: JUNE 21, 2018

Getting Started

What is FinAlly?

FinAlly is a one-stop solution with the mission to change your approach to financial planning. Our tools are designed to empower you and broaden your knowledge in financial planning, so you can make the most informed decisions for yourself and your loved ones.

How should I get started?

You can start by registering an account with us and learn more about financial planning. You can also try out our Personalised Calculators and Find & Compare tools to explore the range of products available on FinAlly.

What is the difference between buying through FinAlly and other insurance agents or financial advisers?

FinAlly is a self-directed, interactive and easy to use online portal. We provide you with useful tools, information and a wide range of insurance and investment products to choose from to meet your financial planning needs. More importantly, we help you save cost by rebating part of the adviser’s commissions to you when you successfully purchase a plan through us.

Personalised Calculators

What are Personalised Calculators?

Personalised Calculators are tools that we have developed to help you get started with planning your financial goals. With FinAlly, you can get endowment savings and fund investment plans to fund your Retirement and your child's Tertiary Education. The Protection calculator helps you analyse if you have sufficient insurance coverage for you and your loved ones.

Retirement Calculator

How does the Retirement calculator work?

Retirement Calculator will generate endowment savings and/or fund investment plans to help you fund your retirement years. Based on the income and expenses details you provide, we will help you calculate the amount required annually and for the duration of your retirement years. This figure is based on 70% of your current income and/or expenses, with an annual growth rate of 3%.

 

What should I do if I cannot find a retirement product?

If you are unable to find the product that you are looking for on FinAlly, please write to yiling@finally.sg.

Tertiary Education Calculator

How does the Tertiary Education calculator work?

Tertiary Education Calculator will generate endowment savings and/or fund investment plans to help you save for your child's tertiary education.

 

What should I do if I cannot find a tertiary education plan?

If you are unable to find the product that you are looking for on FinAlly, please write to yiling@finally.sg.

Protection Calculator

How does the Protection calculator work?

Protection Calculator will analyse the coverage you need based on your current income.

 

What should I do if I cannot find a suitable protection plan?

If you are unable to find the product that you are looking for on FinAlly, please write to yiling@finally.sg.

Find & Compare

How does Find & Compare work?

You can start by selecting the type of plan you would like to compare. Then select the options based on your personal particulars.

Who provides the insurance and investment products?

FinAlly is a trademark belonging to RAY ALLIANCE Financial Advisers Pte Ltd and is a wholly-owned subsidiary of RAF Holdings Pte Ltd. RAY ALLIANCE Financial Advisers provide a wide range of insurance and investment products from the following providers on the FinAlly platform.

  • AIA Singapore Pte Ltd
  • AXA Life Insurance Singapore Pte Ltd
  • Aviva Ltd
  • Etiqa Insurance Pte Ltd
  • Friends Provident International Ltd
  • iFAST Financial Pte Ltd
  • Life Insurance Corporation (Singapore) Pte Ltd
  • Manulife (Singapore) Pte Ltd
  • NTUC Income Insurance Cooperative Ltd
  • Raffles Health Insurance Pte Ltd
  • Tokio Marine Life Insurance Singapore Ltd
  • Zurich Insurance (Singapore)

Find & Compare does not give me a product that I am looking for. What should I do?

If you are unable to find the product that you are looking for on FinAlly, please write to yiling@finally.sg.

Easy Bundles

What are Easy Bundles?

Easy Bundles are customised plans for users with specific insurance needs. There are 3 Easy Bundles for you to choose from; Smart Start, Mid-career Professionals and New Parents. There are Basic and Premium bundles to choose from based on your budget.

What are the plans in Easy Bundles?

Smart Start is suitable for someone who's fresh out of school and is looking to kick start his or her insurance portfolio. In Smart Start, there are a comprehensive set of plans which cover Personal Accident, Hospitalisation and Health insurance and even a Savings plan.

Mid-Career Professionals is designed for someone who wishes to enhance his or her insurance coverage, and to get a head-start in retirement planning.

New Parents is meant for young families or newly married couples who are looking to plan for their growing family.

The plans in Easy Bundles serve as a general guide only. For a customised bundle based on your coverage needs, please contact your FinAlly adviser, yiling@finally.sg.

Earn

Commission Rebate

What is commission rebate?

At FinAlly, we want our users to better understand their finances by empowering them to plan for themselves. We support this process by giving our users extensive and relevant information to help them make more informed financial decisions.

RAY ALLIANCE Financial Advisers concludes the transaction by providing the product advice and completing the documentation process. Hence, to reward our users for taking ownership of their own financial planning, you, rightfully deserve the commission rebate.

 

How much commission rebate am I entitled to?

You wlll receive up to 50% of adviser's commission for all applicable products as commission rebate.

However, 30% of adviser's commission will be applied instead if you require our advisers to meet you at a location of your choice.

When will I receive my commission rebate?

You will receive your commission rebate based on the following conditions:

  • Within 90 days of waiting period from the policy commencement OR
  • After the 14 day free look period OR
  • When the commission for the plan has been received by RAY ALLIANCE Financial Advisers from the respective product provider (insurer), whichever is later.

How is the commission rebate paid out?

We will send you a cheque for the commission rebate by post.

How are the rebates paid out if my premium mode is monthly/quarterly/semi-annual?

Other than annual premium mode, for the rest of the premium modes, the rebate will only be given after the full year’s commission has been received by RAY ALLIANCE Financial Advisers.

How long will I be able to enjoy the comission rebate?

You will enjoy the commission rebate for the first three years. For the second and third year’s commission rebate, all renewable premiums have to be fully paid beforethe commission rebate can be paid out to you.

Are there differences in the rebate percentage if the appointment was done during or after office hours?

Yes, there is a difference. You will be able to receive 50% of the adviser's commission if the appointment is fixed during office hours and if you were to complete your documentation at the RAY ALLIANCE Financial Advisers' office. However, if you require our advisers to meet you at a location of your choice, you will only receive 30% of the adviser's commission.

Are there products or plans that are strictly excluded from commission rebate?

Yes. Selected General Insurance plans, Integrated Medical Shield Plans, Eldershield Plans and CPF Investment Schemes are excluded

What is the commission rebate for Fund Investment?

Commission rebates for fund investment come in the form of lower or zero subscription fee, depending on the amount invested.

 

Referral Fee

What are the benefits of the referral programme?

At FinAlly, our goal is to help our users enjoy meaningful cost savings for doing their own financial planning. We want to encourage you to share these benefits to your friends and relatives. In return, RAY ALLIANCE Financial Advisers will reward you with an additional 25%* of the adviser's commission as a referral fee. For example, your friend gets a 50%* rebate on the adviser's commission and you will get 25%* of adviser's commission rebate based on his/her purchase.

*15% of adviser's commission will be applied as referral fee instead if your friend requires our advisers to meet at a location of his/her choice.

 

How do I make a referral?

When you register for a FinAlly account, you are automatically enrolled to be a Referrer. To complete the process, you would need to sign an introducer agreement with RAY ALLIANCE Financial Advisers. Click HERE to join now if you have not registered with FinAlly.

How is the referral fee paid out?

We will send you a cheque for the referral fee by post.

How will the referral fee be paid out if my premium mode is monthly, quarterly or semi-annually?

Other than annual premium mode, for the rest of the premium modes, the rebate will only be given after the full year’s commission has been received by RAY ALLIANCE Financial Advisers.

How long will I be able to enjoy the referral fee?

You will receive a one time referral fee on the first year.

How long does it take to receive the referral fee?

You will receive the referral fee based on the following conditions:

  • Within 90 days of waiting period from the policy commencement OR
  • After the 14 day free look period OR
  • When the commission for the plan has been received by RAY ALLIANCE Financial Advisers from the respective product provider (insurer), whichever is later.

Are there any hidden costs or additional fees?

There will be an annual adminstrative fee of $20 for the first three years to process the rebate. The fee will be borne by you, less off from the commission rebate you are entitled to.

The administration fee is currently absorbed by RAY ALLIANCE Financial Advisers until 1 July 2019. Subject to terms and conditions.

Products

Who provides the insurance and investment products?

FinAlly is a trademark belonging to RAY ALLIANCE Financial Advisers Pte Ltd and is a wholly-owned subsidiary of RAF Holdings Pte Ltd. RAY ALLIANCE Financial Advisers provide a wide range of insurance and investment products from the following providers on the FinAlly platform.

  • AIA Singapore Pte Ltd
  • AXA Life Insurance Singapore Pte Ltd
  • Aviva Ltd
  • Etiqa Insurance Pte Ltd
  • Friends Provident International Ltd
  • iFAST Financial Pte Ltd
  • Life Insurance Corporation (Singapore) Pte Ltd
  • Manulife (Singapore) Pte Ltd
  • NTUC Income Insurance Cooperative Ltd
  • Raffles Health Insurance Pte Ltd
  • Tokio Marine Life Insurance Singapore Ltd
  • Zurich Insurance (Singapore)

What should I do if I cannot find a product that I am looking for??

If you are unable to find the product that you are looking for on FinAlly, please write to yiling@finally.sg.

General

Is there anyone at FinAlly that I can contact when I need further information or clarification regarding my insurance policy?

Please write to our friendly financial adviser, yiling@finally.sg.

What should I do when I want to make changes to my insurance policy?

Please write to our friendly financial adviser, yiling@finally.sg.

What should I do when I want to make a claim?

Please write to our friendly financial adviser, yiling@finally.sg.

Are medical check-ups required?

It depends on your medical condition and the insurer’s medical underwriting guidelines. Please write to our friendly financial adviser yiling@finally.sg and she will help you with the answers to your questions.

What is the difference between buying through FinAlly and other insurance agents or financial advisers?

FinAlly is a self-directed, interactive and easy to use online portal. We provide you with useful tools, information and a wide range of insurance and investment products to choose from to meet your financial planning needs. More importantly, we help you save cost by rebating part of the adviser’s commissions to you when you successfully purchase a plan through us.

What is the buying process like?

Buying through FinAlly is easy! Once you have selected the product you like, book an appointment and one of our licensed advisers will meet you to process the purchase. This can be done at either our office or at a mutually convenient time and location*.

*Please note the commission rebate will then be 30% of adviser's commission.

What should I do if the insurance policy I want is not found on FinAlly?

If you are unable to find the product that you are looking for on FinAlly, please write to yiling@finally.sg.

How do I know whether the purchase is successful and the insurance coverage is in force?

After submitting the policy application, a dedicated adviser will be appointed to you by RAY ALLIANCE Financial Advisers to answer all your enquiries. He/she will also guide you and update you on all policy matters.

Why can’t I complete the purchase entirely online? Why do I still need to go to RAY ALLIANCE Financial Advisers' office?

FinAlly serves as an informational portal. For purchases, the current regulatory landscape requires all users to be advised by a MAS Licensed Financial Adviser. RAY ALLIANCE Financial Advisers is a MAS Licensed Financial Advisers (Co. Reg. No. 1999000852W)

How do I make the first and subsequent payments? Can I pay using a credit card?

Different insurers and their products have varying payment options. Please consult our licensed advisers at RAY ALLIANCE Financial Advisers and they will advise the best possible option(s) for you.

Do you have any questions? Talk to us!

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