Sunday, April 27, 2008

Disturbed by cut in annual bonus

Dear Mr. Tan
I was disturbed by the lastest news that Ntuc Income had declare to cut our annual bonus and by doing this, they will increase our maturity bonus. I was not convince how can this method benefit me in the long run.

I had called Income's hotline and had spoken about this issue. However, nothing can be resolved as they stand very firm that they do this is to benefit to the policyholder. I had total 6 life policies been affected could you give me some advise regarding this issue.

REPLY
You can ask NTUC Income to show you the cash value of your policies for the future years, based on the old bonus rates and the revised bonus rates. You will be able to see if the change in bonus is fair. It is their duty to provide a clear explanation of the change in bonus, especially as they are making a major change of this kind.

If they do not respond to your request, you can write to MAS and ask their assistance.
Posted by at

5 comments:

Anonymous said...

What did your agent say? My agent told me to complain and sue ntuc to wake up the new management.

April 27, 2008 10:12 PM
Anonymous said...

Don't waste time. Sue ntuc.

April 27, 2008 11:52 PM
Anonymous said...

Report to CASE or MAS and sober up this company.I am considering cancel my policies too.

April 28, 2008 9:08 AM
Khiat Han Hwee Adrian said...

I strongly discourage readers to terminate their policies just because the company changed their bonus scheme.
No one knows for sure whether this will be for the better or worse.

It will not to be the benefit of the policyholder. Check out with your insurance adviser and discuss the issue.

Adrian Khiat
http://akhiat.blogspot.com

April 28, 2008 9:20 PM
Anonymous said...

There is nothing to discuss with our agent. What can they do? They would speak and defend the company.
You say better. You are naive, adrain. You think it is like revosave. I take your money and i pay you back a bit more after 20, 30 years later. You believe that? In simple language a bird in the hand is worth two in the bush. Now the bird is about to be taken away and to be returned to you in 25 years time and it might end up in HO CHI MING on someone's table.
I don't even know i can last. i dont even know if I need money in the near future. It is so uncertain now.

April 28, 2008 11:00 PM

Post a Comment

Subscribe to: Post Comments (Atom)

Blog Archive