Here is another case where the policyholder bought the Friend Provident Global Advance plan from an independent financial adviser and was very angry that the adviser did not recommend a product that is good for the customer.
In this case, the Effect of Deduction is more than 40% of the accumulated premium. This is extremely high.
I suggested to the policyholder to sue the financial adviser for breach of compliance under section 7.2 and 7.3 of the Financial Adviser's Act.
I am also healing to round up several people who want to join and take collective action.
http://www.fisca.sg/ArticleDisplay.aspx?ID=449&Name=Friend-Provident-Global-Advance---case-2&View=A
In this case, the Effect of Deduction is more than 40% of the accumulated premium. This is extremely high.
I suggested to the policyholder to sue the financial adviser for breach of compliance under section 7.2 and 7.3 of the Financial Adviser's Act.
I am also healing to round up several people who want to join and take collective action.
http://www.fisca.sg/ArticleDisplay.aspx?ID=449&Name=Friend-Provident-Global-Advance---case-2&View=A
1 comment:
Maybe got big loading for non-standard life???
Anyway, you should NEVER NEVER use any insurance companies for investment or savings.
Only pure insurance --- YES the type where you "throw money away" if nothing happens to you!!
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