Which form of distribution channel would give you the best advice? Through the Agency model, the Bancassurance model or the IFA model? We will discuss more about that later.
A lady have wrote in to The Straits Times Forum on the 25th July 2011 sharing her experience of getting insurance advice from [...]
Like everyone else, the past holidays have been filled with feasting and gatherings, updating and gossiping. Most were of no particular importance. However, I would like to share a story about Investment-Linked-Products (ILP) told by a friend who works in an insurer.
An old lady went to the insurer after she received [...]
1 year ago, an FA firm (not an IFA) ran a promotion that offers a ‘free’ first year term coverage by rebating the whole first year premium. Now that promotion has backfired and the insurer wants to claw back more than $7m in commissions and volume discounts due to the high [...]
A major life insurance company in Singapore has embarked on on aggressive drive to increase their private integrated shield plan market share. They are now knocking door to door asking if you have upgraded your shield plan. While the one that knocked on my door was courteous and not pushy. I cannot say [...]
An insurer placed an advertisement in today’s The Straits Times announcing their record of never reducing their bonus for their participating policies since they started more than 60 years ago. The are maintaining this “unmatched record” this year. According to the information I got, this move to reassure the consumers was prompted by [...]
On Good Friday morning, I received a call from a friend asking about the medishield plan for her baby girl as she has to be hospitalized for further investigation due to persistent cough. Sensing that she was abit lost, I explained to her the admin procedures and told her not to worry about [...]
The Life Insurance Association (LIA) has released the performance figures for the life insurance industry for the year 2008. I’ll just zoom into 2 points in the report which I find disturbing.
Claims Payout
A total of $5.12 billion was paid out, out of which only $359 million was [...]
Many a time, you can find insurance companies dangling freebies to attract customers. It is not unusual to find them at electronic and pc fairs where they will display advertisements showing freebies such as digital cameras or printers. You would have mistaken them as another electronic booth!
It is very common to find [...]
My client ask me about a mid term savings plan that gives a impressive return (considering the current low interest bear market). She was introduced to the plan by a bank Relationship Manager (RM) when she wanted a fixed deposit. This is how the RM illustrated the plans to her:
Interest in saving account [...]
When deciding what brand of buying cookies to buy, do you find yourself going for the one with nicer and more expensive-looking packaging if you have no preferred brand? This is normal. The nice picture, the nice texture of the packaging and the exotic name gives us a impression of a delicious cookie. [...]