Wednesday, October 28, 2009

Benefit illustration for a Cash Back Policy

A reader asked me to use an actual case of a cash-back policy. If you have bought this policy, please fax the benefit illustration to 6405 3100.
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5 comments:

Don said...

Hi, Mr Tan, i'm interested to send you the benefit illustration for my cash back policy, but i do not have a fax, can i send a scan copy over to your email instead ? What is your email ?

October 28, 2009 8:01 PM
Anonymous said...

email address is on top of the Blog. www.tankinlian.com.

I am not TKL but a regular reader. Also want to know your question above thus become a bit of KPO. ;-)

October 28, 2009 9:08 PM
Don said...

Thanks Anonymous, had send the email to Mr Tan.

October 28, 2009 10:45 PM
Anonymous said...

those with cash back policy , have them reviewed for mis-selling and misrepresentation. see FISCA for help.do it early before you incur more losses.Your agent definitely played you out. IT is a rotten product.

October 31, 2009 6:11 PM
Carol said...

In reply to Anonymous, Cash back policy / endowment plans with coupons payout is NOT a rotten product. Different plans cater to different persons' needs. If you wish to have disciplined savings regularly, it is a good plan. However, it is not advisable to withdraw the coupon payments, usually after 2nd year. Instruct the insurance companies NOT to send you the coupons payout. These coupon payments are then redeposited with the insurance companies for a slightly higher interest then what most banks offer (though not guaranteed rates). I strongly advise consumers to find out more about the financial rating of the insurance companies and historical performace of the product before commiting a plan. Might be true that a lot of insurance agents are just looking at closing you and take their commission. However, do keep in mind that NOT all people have risk appetite. They prefer to save safely yet enjoy higher interest then the banks.

December 12, 2009 10:16 PM

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