Sunday, August 22, 2010

Review of Life Insurance Policies

Many readers have asked for my assistance to review the life insurance policies that they now hold. They ask if they should continue or give up their existing policies. Please read this FAQ to get the necessary inforamtion for the review and be prepared to make a donation to FISCA.
http://tankinlian.com/admin/file.aspx?id=126
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2 comments:

zhummmeng said...

It is time policyholders have their policies reviewed to see if their so called trusted agents con them into buying the policy.
Many people bought insurance policies wihtout actually understanding them. They bought them becuase other people were buying or being persuaded by their relatives or pressured into buying by insurance agents or conned into buying at the roadshow or enticed into buying because of gifts and vouchers.If you bought your insurance like the above I strongly advise that you have your policies reviewed.In all likelihood you were conned, mis-sold, misrepresented because of conflict of interest, ie the insurance agents only interested to sell you a high commission product and not your concern .
This is the time to know the true color of your agents..If you have been conned, you can prove it you can take action by demanding the return of all premiums paid or lodge with MAS. Don't take it lying down. You have the right and your agents wronged you. Why should you lose because of the greed and conflict of interest of your agents.It is time to open your eyes big .

August 22, 2010 10:37 AM
zhummmeng said...

Hi,
Did you realise that you buy life insurance without fact find and if you tick option 3 or product advice you will LOSE all your rights to any recourse if something goes wrong with the product?
Did your agent alert you to this warning?
You are warned 2 times, one before and one after you signed.
Did your agent highlight to you this warning of loss of all rights if you tick option 3?
I am very sure all you policyholders were not aware of this warning and your agent didn't warn you too.
What does this warning mean?
It means you cannot complain against the agent or the company on any thing. You are fully responsible for the product you bought and you have implicitly bought the product on the basis of caveat emptor(buyer beware). Did you open your eyes and ears big before you made this choice.\ or the agents made the choice for you without you knowing it.If this is the case you can lodge it with company or the MAS for non compliance.
If you have bought the product based on option 3 it means also that you are a savvy investor who knows everything about insurance and the agent merely executed the deal without advice because you didn't need.
This is one of the many important matters that the insurance agents should tell you so that you know what you are getting in.
Know your right and never trust the insurance agents. Product pushing agents don't have your interest at heart. They just want to quickly close the deal and get the commission.Be careful of agents who use computer to sell to you. This method is even worse for the agents will take shortcut and short change you. Set aside time and make sure that they go through everything with you. Ask questions. It is your right.

August 23, 2010 4:30 PM

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