Mr. D bought an special endowment plan from a large life insurance company. He paid a monthly premium of $1,000 for 5 years, making a total contribution of $60,000. The premium stopped after that.
The policy was supposed to pay to Mr. D a cash payout of $24,000 at the end of the 5th 10th and 15th year. The total payout would be $72,000.
When Mr. D received the cheque for the final payment at the end of the 15th year, he realized that he had only received one payment previously. On further investigation, he discovered that he did not receive the first payment of $24,000.
Find out more about this case in
http://www.fisca.sg/ArticleDisplay.aspx?ID=548
The policy was supposed to pay to Mr. D a cash payout of $24,000 at the end of the 5th 10th and 15th year. The total payout would be $72,000.
When Mr. D received the cheque for the final payment at the end of the 15th year, he realized that he had only received one payment previously. On further investigation, he discovered that he did not receive the first payment of $24,000.
Find out more about this case in
http://www.fisca.sg/ArticleDisplay.aspx?ID=548
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