Thursday, January 15, 2009

Learn about insurance


You can find some common concepts explained in a simple way in:


Posted by at
Labels:

3 comments:

zhummmeng said...

Selling your whole life policy to get better cash value than the insurer at 65 instead of converting to annuity makes more sense .There is a growing market and it will prove the bane for the insurers
I know NTUC offers another another 5% for conversion to annuity of their vivolife. Is NTUC being generous? You should know the truth.
First, ntuc gets another business.
Second, and this is the very reason why ntuc WANTS TO APPEAR generous. By converting to annuity NTUC stands to save as much as 60% of the death or claim proceed. So, is ntuc generous? It is actually discouraging policyholders from holding for whole life until claim.If all policyholders hold for whole life the insurance companies will go BANKRUPPT.
So this talk and argument by your insurance agents that you need a whole life plan is big scam. It is not sincere. The company doesn't want you to do that.It will put a lot of incentives in your way to stop you from holding it for whole life.
The bad news is ,if the secondary market for life settlement takes off successfully all the life insurance companies will tremble for their days are numbered. This will expose their scam that they are hiding all these years about whole life and endowment products.
They are clever to use greedy insurance agents to promote the scams. These agents, whatever titles they are disguised, they too will meet their doom and the dooms day is near.
Consumers, wake up to this fact. The insurers NEVER had or have your interest at heart. Your money, to pay the greedy agents and upkeep the lifestyle of the ceos and their senior management is the reason for them to roll out dubious products from time to time.
Let me ask you. Are the new products getting better and better in term of more protection and more return or cash value? on the contrary, they are getting more fancifool to fool you and to distract you about the REAL reason for insurance. They are trying to bullshit you that there is such thing as life style insurance products.Spend as you save and live life to the fullest craps is a play of semantics which are confusing and ambiguous to numb your sense of rationality. With the agents pushing and pressuring you , you end up with a load of useless craps and yet you don't even know.
Consumers, support the formation of the FISCA and put an end to the dishonesty of the insurance agents.

January 15, 2009 9:22 PM
Anonymous said...

Most agents know about the products but mis-apply willfully . Almost all agents focus on few products that are to their advantage and avoid products that don't give high commission.
The agents are in the wrong trade. This trade calls for putting the interest of the clients first instead agents put theirs first.
The products they sell and push are usually whole life and endowment and regular ILPs because they earn for the agents at least 150% of whatever premium you pay and the other 100% goes to the company.
The cost of these products is high. It is Okay if in
return the agents can more than compensate in his advisory service and good protection and cash value from the products.Unfortunately the consumers are short changed by the insurance agents and the company.
If the agents are honest they must be objective in their advice and I found almost the agents are NOT honest in this respect. They can get away because equally and almost all consumers are clueless and idiotic.
Therefore there is a urgent need for a review agency to help consumers check their policies for mis-selling and misrepresentation and to seek redress from the insurance companies or FIDREC.

January 16, 2009 10:04 AM
Anonymous said...

it is well known in the industry that the mdrt, cot and tot qualifiers are the greatest abusers of mis-selling. Ironically the mdrt citation says these cheats are the cream of the profession. Indeed they are. The cream of the conman community. The best conman award. To achieve such high income means they robbed more people and the award is for robbing highest amount of money from their clients.
Consumers , you have been warned before to be wary of these people.

January 17, 2009 4:19 PM

Post a Comment

Subscribe to: Post Comments (Atom)

Blog Archive