The life assured should be the parent, rather than the child.
The bottom line about taking up a life policy or full endowment on your children is the perceived worth the kid means to the parent.
My view is that a full endowment is good because it give a deterministic return of a certain percentage (3-5%) at maturity. If such money is invested on a low cost investment fund, there is no telling that the investment fund will give a good return, unless one have managed it pro-actively throughout the term.
"DELAY AFTER DELAY IN INCOMESHIELD CLAIM" screams the caption in the forum page. Since October last year when claim was first filed and repeated 'haggling' to and fro ,only partial payment recieved just, March, almost 6 months later.. No wonder they used to say NTUC never pays or pays claim slowly. This case gives enough bullets for ntuc's enemies and for people to believe the "lies" propagated by the competitors. What have ntuc agents got to say now now? Still Lies? Are you now tugging your tail between your hind legs and admit defeat?
there are so many insurers, and i am sure there will be problems here and then, no one is perfect.
anyway, there are so many insurers to choose from, why cry foul over isolated incidents?
I am sure Mr Tan has in his time met with so many complaints, this are policyholders who do not wish to take explanation and they resort to go to press to think it will work better, even if the policyholder is at fault.
some even complain to MAS but end up no case for insurers to answer.
this are everyday happenings and I am sure this is not the only case, many insurers faces such everyday due to some unreported misunderstandings.
sure, ntuc is not the only insurer, so why insure with ntuc when such report will cause one to lost confidence?
Do you know how many complaints against insurance agents? Do you how many went unreported? Do you know how many do not know how to complain? Do you know many do not want to complain becuase they let it go? Do you know many don't even know that they have the right to complain? Do you know many don't know that they have been screwed up by insurance agents? Why this happened? MAS is not strict. It pays lip service. It closed both eyes. It leaves to companies which are the least to be trusted. Second reason is 99% of customers are stupid and idiotic.Some think they know but actually they know nothing. Third reason is insurance agents know that the above two are like that , that they exploit them. If you add up all the above they can run to thousands. Do the companies care? They don't care as long as no one comes to their attention. The CEOs are like the agents. They worry about the bottom lines like agents worrying their pockets. Do the CEOs care how the agents sell? They don't want to know. They don't care how they sell; it can be immoral, illegal, unethical, all they care is sales. The criticism is not leveled at ntuc only . It applies to all.
The life assured should be the parent, rather than the child.
ReplyDeleteThe bottom line about taking up a life policy or full endowment on your children is the perceived worth the kid means to the parent.
My view is that a full endowment is good because it give a deterministic return of a certain percentage (3-5%) at maturity. If such money is invested on a low cost investment fund, there is no telling that the investment fund will give a good return, unless one have managed it pro-actively throughout the term.
"DELAY AFTER DELAY IN INCOMESHIELD CLAIM" screams the caption in the forum page.
ReplyDeleteSince October last year when claim was first filed and repeated 'haggling' to and fro ,only partial
payment recieved just, March, almost 6 months later.. No wonder they used to say NTUC never pays or pays claim slowly.
This case gives enough bullets for ntuc's enemies and for people to believe the "lies" propagated by the competitors.
What have ntuc agents got to say now now? Still Lies?
Are you now tugging your tail between your hind legs and admit defeat?
there are so many insurers, and i am sure there will be problems here and then, no one is perfect.
ReplyDeleteanyway, there are so many insurers to choose from, why cry foul over isolated incidents?
I am sure Mr Tan has in his time met with so many complaints, this are policyholders who do not wish to take explanation and they resort to go to press to think it will work better, even if the policyholder is at fault.
some even complain to MAS but end up no case for insurers to answer.
this are everyday happenings and I am sure this is not the only case, many insurers faces such everyday due to some unreported misunderstandings.
sure, ntuc is not the only insurer, so why insure with ntuc when such report will cause one to lost confidence?
Do you know how many complaints against insurance agents?
ReplyDeleteDo you how many went unreported?
Do you know how many do not know how to complain?
Do you know many do not want to complain becuase they let it go?
Do you know many don't even know that they have the right to complain?
Do you know many don't know that they have been screwed up by insurance agents?
Why this happened? MAS is not strict. It pays lip service. It closed both eyes. It leaves to companies which are the least to be trusted.
Second reason is 99% of customers are stupid and idiotic.Some think they know but actually they know nothing.
Third reason is insurance agents know that the above two are like that , that they exploit them.
If you add up all the above they can run to thousands. Do the companies care? They don't care as long as no one comes to their attention. The CEOs are like the agents. They worry about the bottom lines like agents worrying their pockets. Do the CEOs care how the agents sell? They don't want to know. They don't care how they sell; it can be immoral, illegal, unethical, all they care is sales.
The criticism is not leveled at ntuc only . It applies to all.