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Cooperative, A Lesson To Be Learned from NTUC Income

I was absent from blogging for quite some time. The main reason would be my new job at NTUC Income. As of this month, I am working there as a Software Developer.

Let’s not dwell on my personal excuse (^_^)v for not blogging. During the first day orientation in my new workplace, there was this session which the new staffs are lectured on the Cooperative values and principle. Initially, when I looked at the orientation schedule, I thought this session will be a session about working with colleagues, how to interact to other employees and Teamwork (thanks to my miserable English (T_T), I totally mistranslated Cooperative ). To my surprise, it was about the philosophical and historical lecture about NTUC Income. I was shocked and happy at the same time, knowing that my company is a Cooperative, or we Indonesians call it ‘Koperasi’.

While the lecturer was explaining the cooperative values and the history of NTUC Income, my mind wandered remembering my Elementary and Secondary school time, which was the time when I was introduced to the concept of Cooperatives as the Backbone of Indonesian Economy (’Koperasi sebagai Soko Guru pembangunan Ekonomi Indonesia’, CMMIW).

Although the concept of Cooperative is good and definitely suitable for Indonesia as most of its citizens are in the middle and lower class. I somehow become pessimistic with it. Mainly due to my own experience of the rise and fall of many Cooperatives in Indonesia. And partly due to the practice of corruption which is prominent in Indonesia.

As the Lecturer continued discussing about the cooperative values and history of NTUC Income, I feel like I was inhaling a fresh air, a very fresh one. The success story of NTUC Income, which was started in 1970 with a mere capital of SGD$1.2M and 14 part time staffs, growing and expanding, now become a huge enterprise with 1440 staffs, and asset of SGD$18 Billions, is an inspiration for me to believe again in the concept of Cooperative.

I have a really good feeling that I will love my new job dearly. Or as my Singaporean friend say ‘Die die must try to contribute …’

 

Insurance, Which one is suited you best?

I will start working on this insurance company starting on 3rd of May. So here’s my take to familiarize myself with the insurance world.

Well, if you don’t have any insurance plan right now, the basic idea of which insurance to take:

  1. If you are single, get the insurance that covers you more on the medical/hospital expenses
  2. If you already have beneficiary (wife, children), get insurance with more on the permanent disability/death coverage

The question is, what if you get married, do you need to change your insurance plan? Unfortunately, I haven’t seen any insurance company that allows you to switch back and forth between plans. If you know one, please share it with us. Any thoughts ?

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