Sunday, December 23, 2012

Questionable products and insurance policies


zhummmeng said...

There are many of these products lately. The insurers are running of products that they are rolling out scams hoping through their unethical greedy army of insurance salesmen con their customers into buying.The products ask so much of the customers' sacrifice yet pay very little, below inflation.Eg... the customers are asked to lock up their money for 7-8 years and be paid only 2.3% return or one time ntuc offered their Growth plan(already removed) 2.8% for lock in of 10 years. The customers are MUCH better off investing in a low cost low risk investment that pays average 6% without lock in , and liquidity.
This is the problem with insurance companies , they lack conscience and fair dealing.Worse they exploit the greedy, also lack conscience agents who have the trust of their customers.
This is the dirty industry now and where commission is the evil behind the product peddling.

Lye Khuen Way said...

Which Singaporeans , except those PAP card carrying members and their spouses would not agree ?

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