Siewkhim asked if NTUC Income has responded to my question about adjusting the bonus to reflect the "actual experience".
I had sent a question regarding the maturity value of the 5-year Growth policy belonging to my wife that will be maturing in August. I pointed out that the maturity value is far short of and does not reflect the "actual experience" during the past five years. I have received a reply that my issue will be attended to "officially". I have not received any further communication after two weeks.
This is the style adopted in most organisations of Singapore. Keep the customer waiting. Do not engage in any conversation. When you are finally ready, give an official reply and defend it strongly. It reflects a disrepect for the rights of the customer.
As this is a complicated matter, I will wait for another one or two weeks, before I take it up at a higher level.
I also intend to raise the issue of the bonuses and cash values of other existing policies that are far short of the "actual experience". A few of my personal policies fall in this category.
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06/29 - 07/06
- Losing its cooperative character
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- Improve public transport
- Use of asset share in Malaysia
- Cooperative credentials
- Disclose the Asset Share of the Policy
- A Gracious Society
- Public Transport in Singapore
- Low yield on maturing Growth policy
- Losing faith
- Delay in handling a theft claim
- Ask for relevant information
- Bonus that reflect the actual experience
- Outsourcing of work
- Saving regular to buy a Life Annuity
- Switching to a new rider for Shield plan
- Is it time to invest in the stockmarket?
- Investing to get a retirement income
- Financial planning and inflation
- Put People First
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