Monday, March 24, 2008

Can you trust your insurance company?

Can you trust your insurance company on the following:

a) give you a fair deal?
b) keep your cost low?
c) handle your insurance claims fairly?
d) give you the best possible return?

Your insurance company can be trusted only if:

a) it operates efficiently
b) keeps its cost low
c) gives a fair deal to customers
d) communicates openly with you
e) makes it convenient for you to reach the right people
f) does not lock you up in a long term contract with termination penalty

The trustworthy insurance company can still make a fair profit for its shareholders, but this is done by giving good value to its customers (and not by "creaming off" the customers).
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5 comments:

Anonymous said...

Affilated NTUC organisation is playing her social role:
1. Fairprice house brand - cheaper food
2. Physio Center - cheaper health care product
3. Elder Care - affordable care for elderly
4. Child Care - affordable care for young family
5. NTUC Club - affordable lifestyle
6. INCOME today - You are NOT taxed by IRAS like private limited. What is going on???

March 24, 2008 4:05 PM
Anonymous said...

INCOME is a company that I can trust before. But, today, I do not trust it. It is becoming like the other profit seeking companies. It pays agents high commission to sell policies that give poor return to policyholders.

March 24, 2008 7:26 PM
Anonymous said...

Isn't something wrong with Income?
No tax, cooperative, no shareholders and yet the products are rip off and screw up. Revosave and vivolife are screw ups. Advertisements talk so nice like save for rainy and enjoy sunny day. Live life to the fullest. THis is a load of bull. Return 1.8% for 25 years for revosave and 3% for 25 years. How to live life to fullest and enjoy sunny days during retirement? Everybody got to work and toil to the fullest and retirement is always rainy days.
Why? What happened? all savings gone to pay new senior managers and higher commission for screw up agents.Ended up with customers being screwed by screw up manager and agents.
These are the cooperative values of today NTUC INCOME.

March 24, 2008 7:33 PM
Anonymous said...

To know whether you have rubbish products in your portfolio is to seek a third party review. The reviewer will help identify the products you don't need and what and where you should have.
I bet that many people will be shocked to know that they have been dumped with a lot of unwanted and useless products by their insurance agents.
In one of my surveys I found that 9 out of 10 people interviewed had no idea of what they bought. All they knew was that they had some insurance and they never understood why they bought. They knew only 2 words, protection and saving and whatever they bought must have these 2 elements.
Have your insurance portfolio reviewed before it is too late.

March 25, 2008 12:17 AM
Anonymous said...

Bule chip stock "Ping An of China", a mega size insurance company, reported price fall of 62% after one year public listed in PRC. London based Hong Kong & Shanghai Bank is the major share holder. The China CEO was paid
S$13m (approx.) !
。“从去年10月以来中国平安A股价从最高149.28元暴跌到上周末收盘的56.06元，其间市值缩水近2/3，平安的薪酬激励难道不与股价挂钩？” 年报显示，中国平安有3名董事及高管2007年的税前薪酬超过了4000万元，其中董事长马明哲税前报酬为6616.1万元，折合每天收入18.12万元，刷新A股上市公司高管的薪酬最高纪录。

Source:
http://news.xinhuanet.com/fortune/2008-03/24/content_7847348.htm

March 27, 2008 8:40 AM

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