This housewife will lose $10,000 because she was misled by the bank officer to buy a 8 year saving plan when she intended to place a fixed deposit.
The bank officer did not tell her that it was an insurance policy and she would lose all of her savings if she cannot continue the policy for the second year. She had no income and could not pay the second year premium.
This type of mis-selling is quite common. Why is MAS still allowing the banks to carry on this activity?
Read my details and find out how to avoid this grievous mistake here.
http://www.fisca.sg/ArticleDisplay.aspx?ID=575&Name=Bank-misled-customer-into-buying-a-8-year-saving-plan&View=A
The bank officer did not tell her that it was an insurance policy and she would lose all of her savings if she cannot continue the policy for the second year. She had no income and could not pay the second year premium.
This type of mis-selling is quite common. Why is MAS still allowing the banks to carry on this activity?
Read my details and find out how to avoid this grievous mistake here.
http://www.fisca.sg/ArticleDisplay.aspx?ID=575&Name=Bank-misled-customer-into-buying-a-8-year-saving-plan&View=A
No comments:
Post a Comment