Saturday, May 31, 2008

Restructuring of bonus

At the annual general meeting of Income, I pointed out that there are three groups of participating policies:

Series EV - introduced in 2007, 2008
Series LP - introduced in 1993
Other series - introduced before 1993

Only the LP series and 1 product under the EV series are subject to the restructuring. Two products under the new EV series are not being restructured.

Income has said earlier that they are not restructuring the other series, because these policies have been issued long ago. I asked the board to review the decision on the two new EV products. Why are they not subject to restructuring?

It is important that policyholders feel that they are being treated fairly and consistently.

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