Dear Mr. Tan,
Thanks for your blog and your insurance tips, they are very helpful to us laymen. I have the following policies with NTUC Income: (details of four policies are provided).
Do they give value for money? Do you recommend me to terminate them? Should I switch to Term for any of them? If you like, you can also put these examples in your blog to for illustration.
REPLY
I suggest that you write to NTUC Income and ask for the following information for each of your policies:
a) Cash value when you terminate the policy now
b) Cash value in 5 years time
c) Premium payable for the next 5 years
d) Amount of coverage provided by each policy.
You will be able to make a better decision, when you get the relevant figures. You can show the figures to me, and I will help you to make a decision.
Read this FAQ:
http://www.tankinlian.com/faq/exist.html
Besides getting ntuc for some details, get an independent qualified adviser to review your policies objectively. Ask the adviser to see what to keep and what to throw. Also ask to see if there was any mis-selling or misrepresentation or non disclosure.
ReplyDeleteIf you have suffered any loss or loss of opportunities you can lodge a complaint with the company.
Remember to review your policies frequently to check for rubbish which you were beguiled into buying. Get second opinion.