Thursday, August 31, 2006

Support our Insurance Advisers

I wish to make this appeal to the general public. Support the insurance advisers from NTUC Income.

They earn a modest commission. It is about half of the commission paid to other company's agents. As they do not earn much, you should not make them spend too much time to close your business.

The lower commission allow us to reduce our expenses and give you a better return on your life insurance savings. In most cases, we give 10% to 20% more on the maturity of your policy. If the maturity amount is $100,000, you can get $10,000 to $20,000 more from NTUC Income.

Some companies (not NTUC Income) make unrealistic projections of their return. They pay high commission and incur high expenses. Many years later, they are not able to fulfil their projections. Their policyholders are disappointed, but it is too late.

You can trust NTUC Income. We keep our expenses low and give a better return to our policyholders. Please support my insurance advisers. Help us to help you.

Tan Kin Lian
Chief Executive Officer
NTUC Income
Posted by at

3 comments:

globevestor said...

I would suggest that you consider to convert most of insurance advisers to financial planners. For my case, I will buy insurance products directly from Income since I can do research online.

August 31, 2006 6:28 PM
Tan Kin Lian said...

We have consultants (or financial planners) based in our business centers in Bras Basah and Tampines.

Many customers are coming directly to them.

August 31, 2006 6:45 PM
Tan Kin Lian said...

Dear Alamah

Don't worry.

Many of our insurance advisers, who stay with us, earn quite well and are well rewarded.

They can provide high touch service
using e-mail, mobilephone and the traditional face to face visit.

They have to manage their time well.

Some prefer to earn high commission for their high touch service, so they move to other companies.

I hope that their clients are aware of the high cost of the service. It can amount to 10% to 20% of the amount received on maturity. It is a lot of money.

Many high commission agents will not be around when the policy mature and the clients find out that they get a poor deal.

Like the recent case of the policyholder from Prudential who found that the projection has reduced by $150,000.

September 01, 2006 7:13 AM

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