This consultation paper is for regulation on investment products. I suggest that the regulation should make clear that life insurance products that provide only insurance protection (and do not have any saving or investment return) do not require to have any adviser.
This will allow life insurance products, such as term insurance, accident insurance and medical insurance, can be marketed without the involvement of a financial adviser. This will reduce the cost of distributing the simple insurance products.
It also avoids the conflict of interest, where unethical advisers may influence the consumer to buy an unsuitable product that pays a bigger commission to the adviser.
Tan Kin Lian
3 comments:
Yes, no brainer and simple products should be allowed to be bought online and without the need for agents to cut down the cost.
Term
PA
medical H&S
travel
car insurance
Some FIs who after this experience will give up selling structured products altogether. However, there are some FIs who have discovered selling strucutured products are a very lucrative venture and will continue to do so. Customers should be wary of these type of FLs. Customers Beware
After paying huge commission to the "adviser" for the minobond, the "adviser" said he/she is only an introdcer.
What a joke?????!!!!!
Who's fault?
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