Tuesday, June 14, 2016

Regulator need to be more stringent

Raymond Fong said:
May I share my thoughts on this? I feel that our regulator needs to be more stringent and active in the regulating the insurance industry, particularly the low sum assured and payouts for products that have a savings component and the complete removal of the non-guaranteed portion in the illustrations table. Regulators should also look into how agents are pushing products that are high in commissions rather than helping their clients conduct proper financial planning.

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