Monday, April 24, 2006

Guess who says that NTUC Income don't pay claims?

For the past 30 years, our competitors' agents have been trained by their sales managers to tell the customers, "NTUC Income does NOT pay claims".

Is this true? Of course, NOT.

NTUC Income has paid several hundred thousand of claims over the past years, and quite promptly. Our motto is: "Prompt and Fair Settlement of Claims".

Why do these competitors' agents target NTUC Income?

The answer is simple. NTUC Income offers better terms to our customers. It is a fact. The only way to get customers to buy their expensive products (ie pay higher premium to the competitor products) is to tell a lie.

Unfortunately, many Singaporeans believe the lie. They pay a higher premium for the privilege of being served by a more expensive insurance company.

But many more Singaporeans are savvy. They ignore the lie and take their insurance with NTUC Income. We have 1,200,000 policyholders who fit into this category. They know the real facts and make the right choice.
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5 comments:

Alamah said...

Someone whom i know have two life insurance policies. One from NTUC Income, the other one from AIA.

NTUC Income took about a week to settle the claim based on the Nomination. AIA did not pay but after more than a week, they ask for a Letter Of Adminstration. The family members do not know what is Letter of Adminstration and where to get one.

How long will it take for the Letter of Administration to be issue? Where do i get it? Do i have to hire a lawyer? The decease has less then $500,000 estate?

April 26, 2006 2:37 PM
BlinkyLucy said...
This comment has been removed by a blog administrator.
April 26, 2006 5:48 PM
Thomas Phua said...

Insurance company exist to pay claims, and reputation of an insurer is not in sales, but claims.

So for a competitor to kill off his competitor, it is obvious to discredit them or like what Mr Tan mentioned, tell lies about their claims.

I always believe all insurers will try to pay off claims as fair and prompt as possible.

Those agents who sell on telling lies will not survive long in the industry as most insurers will not want to lost their reputation over a claim.

Income has been most compassionate and even beyond prompt and fair in some claims as reflected in the claims stories in their website.

One of them who wrote in happen to be my friend, he was paid for a PTD when other insurers (3 insurers then) did not admit the PTD condition, and it is only when Income admitted the PTD claim that other insurers honoured the claim.

This tells me that Income is more compassionate in dealing with claims.

April 26, 2006 6:59 PM
Kenneth Wee said...

Is it fair to say that "competitors' agents have been trained to tell customers..."?

For me, I did not hear such comments from my agents but a friend who's car windscreen was hit by a pebble and broke. He was just lamenting about his experience duing the claim process.

May 13, 2006 7:06 PM
Max said...

Not true yaw. I am a buyer of NTUC insurance. When i acquired my cancer in 2008, NTUC Income not only took 3 weeks to administer my claim, it pestered my doctors for medical documents that i had already presented. In the end, they stated that the disease was pre existing when I was perfectly healthy for my whole life. I had a medical clean slate. It was outrageous. I finally contacted my MP which wrote letters to Income that got me my claim. There after, i switched to Great Eastern. I believe every insurance company will have its cracks. But because of this one, i'll never buy NTUC again.

May 09, 2011 9:38 AM

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