My general impression is that the policyholders have been badly treated by the insurance company and have been made to lose money as a result of the unfair treatment.
I advise them to lodge a complaint with FIDREC. The website is www.fidrec.com.sg. If they need advice on how to lodge a complaint and is willing to pay $500 for the assistance, I can recommend someone to handle it for them. If they know how to handle the complaint on their own, they can save on this cost.
I am very sad to see so many consumers being badly treated by the financial institution. The situation seems to be getting worse in recent years. I hope that the Monetary Authority of Singapore will carry out an investigation into the practices of these financial institutions.
Tan Kin Lian