Sunday, July 27, 2008

High cost of advertising

I met a friend at a function. He told me that he had all his policies with Income previously. Recently, he decided to buy a life annuity from Great Eastern. He did not like what was happening in Income recently, with the high cost of advertising and the change in bonus structure.

I told him that Great Eastern may not offer a better deal, compared to Income. But, he was quite sure about his decision.
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4 comments:

Loh Hon Chun said...

Once a bad impression is imprinted onto someone, everything looks black and white (no longer colourful).

hongjun

July 27, 2008 4:03 PM
siewkhim said...

I think NTUC Income is gradually transforming itself into a Commercial Cooperative Society. Under such an entity it can enjoy the privileges of being as co-opt and at the time maximised profits not for its members.

We should only involve ourselves with insurance companies when we intend to buy purely protection assurance policies e.g.term, motor, hospital & surgical, disability income, personal accident etc. NEVER NEVER involve in participating and investment-linked types products or their hybrids. They are very dangerous and complicated crapy products!!!!!!!!!!!!!!!!!

July 27, 2008 4:41 PM
zhummmeng said...

Too bad the distrust has been created.That is more to come. You will be hearing surrender and termination from now.
It should have foreseen this.
GE's annuity may not look bad in the long term. Any difference is marginal, worth the heartache and uncertainty that may happen who knows when.

July 27, 2008 7:37 PM
Falcon said...

That it had dragged so long without any positive feedback is no longer a singular issue with NTUC Income. People are getting the perception that the NTUC ministers, who are also PAP ministers are no longer worth their million dollar salaries for not putting this matter right. I will certainly, if given a choice, not vote for these ministers who do not seem to have an interest in the ordinary folks like us.

July 27, 2008 10:41 PM

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