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I bought a Toyota Wish from Borneo Motors a couple of months ago. The salesman offered me the standard AIG Auto Protector policy (supposedly "comprehensive"), which I took as using some other insurance would incur a penalty. This seems to be fairly standard practice among many dealers, including ADs. I saw this letter published in the newspaper a few days ago (I think it was on 2nd June): In case it isn't clear, the writer (Tan Siak Khian) is claiming that there are clauses in this standard policy that exclude coverage for unnamed passengers falling outside the age range 16-65 (meaning the young and the elderly) and also passengers who are intoxicated (meaning that if you are the designated driver ferrying a drunk passenger around, that passenger will not be covered in the even of an accident). I checked my own policy yesterday, when I was relatively free. I've attached a photo of the offending section. It appears the letter writer was spot-on in his observation (look at parts d. and e.). I'm now worried about the implications of this contract on coverage for my 12-year old child and my elderly parents. Does this mean I can't safely carry them in my car anymore? I've never heard of "named passengers", but does AIG expect me to nominate them personally to ensure coverage? My sales guy at Borneo was of little help - I asked him to clarify this a few days ago, but he has yet to respond. BTW, my father's Nissan Note from Tan Chong was also insured under this AIG scheme, and that also has weirdness - he tells me the policy only applies if he (the driver) is under 65, but he did declare his age correctly at the time of application (and they approved it!). I don't think any of our other policies (with other insurers) have these issues. I'm making this post to advise others to read through their policy terms very carefully, and if possible, share what they find. I'm also asking for advice about my options. I believe I can cancel my AIG policy and get the remaining premium, but there's always a penalty for early cancellation. Do you think that I should be able to make a case for waiver of this penalty given the (in my view) unjust clauses embedded in this contract? Also, I wonder if this legal language falls afoul of the Motor Vehicles (Third-Party Risks and Compensation) Act (CHAPTER 189)? Quoting, Interestingly, the Act talks about the liability of the user, but does not directly address the liability of the insurer? Or is that implied since the Act is about insurance anyway?

Former F1 driver, Alex Zanardi, has won a Paralympic gold medal in paracycling with a timing of 24:50.22. Upon victory, the Italian celebrated by sliding out of his cycle and lifting it over his head with one hand and the other punching into the air. Alex Zanardi is a person who doesn't bow down to setbacks. About 11 years ago, Zanardi was competing in a CART race in Lausitz, Germany when a horrific accident claimed his pair of legs besides loosing over 70% of his blood before he got to the hospital. He was in coma for three days and his heart stopped more than once. After the accident, Zanardi learnt how to use prosthetic legs. "You don't know how many times I fell just taking ridiculous small steps. It was bloody hard," he told the BBC. He took up paracycling later on to keep himself fit. Zanardi began to compete in the sport in 2007 at the New York City marathon when he was invited to attend the event's pasta party. He decided that if he was going, he should take part. He came in fourth in the race and subsequently came in first in 2011 at the same event. Zanardi's journey to Paralympic gold was not easy too. He crashed his favorite bike a few weeks before the actual race. I hope Zanardi

With so much death and sickness around, I am thinking of buying the above, anyone can share with me the pros and cons of the above, given it is a long term commitment and will cost $1300 a year without any returns.... Serious question, pls do not flame me saying that I am a half past six financial planner.