Sunday, July 11, 2010

FAQ - Existing Life Policies

Many people asked for my advice on what to do with their existing life polciies, which has been giving a poor yield. My views are set out in this article.
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3 comments:

Anonymous said...

Check them for mis-selling , misrepresentation and unethical selling. If there is a fact find form
there will be the evidences. Even there is no fact find form before the implementation you can still check for mis-selling and conflict of interest. There bound to be.
The question is do the policyholders willing to take up issues with company and the agents or MAS? Probing can reveal all the 'skeletons in the closet'.
Policyholders can actually demand the refund of all premiums paid plus the interest or sue the agents or the companies. These cheats must not be allowed to go free. They must be punished As you can see many only discovered it after many many years.
What is MAS doing? Caveat Emptor?

July 11, 2010 1:56 PM
Anonymous said...

Yes, so what if they have found out that they were cheated by their trusted insurance agents?
Are they taking actions, sue them, report to MAS?
If not , they are wasting their time and Mr. Tan's time.
I think the policyholders are incorrigible.No balls, lah.

July 11, 2010 7:37 PM
Anonymous said...

Yes, Caveat Emptor.
Else what do you think MAS has been keeping mum all these decades.
Sitting behind their desks and counting their pay and bonuses are all MAS officials do.

July 11, 2010 10:18 PM

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