Saturday, September 16, 2006

Income policyholder forced to switch to another insurer



I wish to register my observation on some industry practice in the field of insurance.

The recent purchase of my Honda Odyssey from Kah Motor in March this year came with several perks and discounts.

During the purchase, I was given the understanding that most of the financial benefits from the purchase "price package" are tied up with my signing up with AXA on car insurance.

After unsuccessfully negotiating to stay with Income on car insurance, I proceeded with the deal knowing fully that I would be able to switch back to Income after the deal had gone through, with the same NCD benefits intact.

I wish to express disagreement with such industry practice as it does not allow customers a "real" free choice. Such arrangements made between car distributors and Insurance companies concerned literally armtwist customers into signing up with insurance company not of their choice. And in the process, benefits and favoured services may be lost and unrecoverable.

Having stayed with Income for many years on different forms of insurance, it is perhaps most apt at this point in time, that I thank Income's various departments and agents for excellent services rendered, especially during my car's recent encounter with accident and repair, of which much stress was spared.

Please forward my view and appreciation to the departments and personnel concerned.

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