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Singaporean,
have you not read NUTS’ posting?
Raising fund by exploiting and conning the unwary aunties and uncles’ fear is easiest. Ask the greedy agents to lie to the auntie and uncles that the return is better than banks’ FD (although comparing to the bank is banned but do you think they care?.) There are many of these uncle and aunties.
ntuc agents either use fear or greed to con their clients.
They hope to be #1 by using this under the belt strategy.This product has financial planning value except conning.
Compared to the 0.75% Per annum Fd rate offered by some banks,
The 2.8%per2 years indefinitely better.
I wonder why an insurance company needs to raise funds since they are getting contributions monthly from policyholders. Have they overspent on their own salaries such that they are now unable to payout those insurances due? If such, it is dangerous for people to put their money in such a company.
ReplyIf you expect the organisation to go back to their roots and sell term insurance and personal accident to construction workers, labourers, cooks, clerks, storemen, etc you can tan ku ku. The CEO and senior mgmt will vomit blood first. The Board of Directors will also be jumping and banging table. Like that how to collect $50K director fees liao?
Moreover they just spent a bomb renovating their HQ and staff lounge and recreation centre, not to mention having to set aside a million dollars for their Barcelona Spain holiday trip in Apr 2011. How to recoup all these money and still get 3-6 months bonus?
ReplyAnother desperate move to boost their sales..heard they are trying to recapture the #1 with weighted premium again…even after SM Goh asked them to go back to their old original goal. The original goal was to provide affordable, value for money insurance products to the man in the street……..the supreme goal and NOT to be obssessed with #1 with all the craps products.
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