Thursday, May 29, 2008

Terminal Bonus cut to nil

Hi Mr. Tan,

You should quote to the press about Z cutting of terminal bonus to 0% somewhere in the early 2000. Sometimes the press is not totally transparent especially when advertising revenue is at stake. Even one of the journalist can be quoted on Z advertisement for a product.

I am surprised that the newspapers did not use Zs cancelling of terminal of bonus as a real example of what can happen and had happened to warn the public about the change of bonus structure.

I was an agent with Z then, I felt that that was downright disgusting, unethical and leaning towards abusive misrepresentation and fraud. I was surprised that MAS actually allowed Z to do that.

I hope you can use this experience to warn policyholder of how vunerable it can be especially when there is no guarantee since the press is reluctant to bring it for fear of losing advertising revenue. I apologise that I cannot identify myself as I still have my friends in Z.

Wishing you the best and thank you for the effort in warning about the repercussions of the change of bonus structure.

Inspire88
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2 comments:

zhummmeng said...

Your are right , everybody is in cahoot to defraud the consumers. The press will see who they can bully. They will weight the opportunity cost before they embark on what they call
investigative journalism.
To expose the insurance companies or go against them there is too much advertising revenue at stake. Don't expect them to tear apart the products and reveal the rottenness.
Like the current bonus saga which press came out to give true and objective report. None!!!!!They are beholden, financially, to the insurance companies.

May 29, 2008 2:20 PM
tatos@irc.rizon.net said...

Yes. I think most people should know what/which company does unethical things towards frauding/misleading their clients.

This should at least make Insurance Companies think twice before 'making drastic alterations' to their payouts and incur negative public reputation.

May 30, 2008 7:50 AM

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