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.
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.
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