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10 Apr 2012, 12.38PM

3 comments & replies |by Guest | Learn and Earn

When insurance agents don't disclose the commission they get from pushing the product but hide the commission it is tantamount to robbery in broad daylight, isn't it? Although the law provides that agents need to disclose the commission and agents NEVER, isn't this illegal too? If the agents try to avoid telling isn't it willful avoidance?
It is time that regulator force the insurance agents to disclose all important information so that the customers can make informed decision.
If the commission is disclosed I am sure the customers' decision will be different. Commission is COST and it affects the insurance coverage and the return.
The insurance agents have betrayed the trust of their customers. Banning commission from all insurance products is the answer to eliminating the evil and scourge of society.

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Guest

10 Apr 2012, 5.33PM

Many of us won't admit that we have been robbed of our money right under nose by insurance agents. Becuase we don't want to look silly and s tupid and because the agent is our friend or some relative. We continue to bear the loss and under insurance until one fine day we say enough is enough.
Now with MAS making sweeping changes it it right time to tear up our insurance policies. What i mean is terminate them and go for the right insurance and be adequately insured. If we don't trust the agents we neeed not use them if we know DIY. Buy term SAF insurance from AVIVA or SAFRA.. Buy a few hundred thousand coverage for death and critical for less than $100 a month and invest the rest in a recurrent saving plan..
I have cut losses and I know that I can recoup the losses in no time
Don't trust the insurance agents. I knew it long time ago but was afraid to offend my freind and relatives.
Now it is different.. i urge consumers to take the same action I have taken.Cut losses and reconfigure your insurance plan to be adequately insured and start real saving. Real saving means return above inflation; above 5%.Can? yes, you can. But the insurance agents will say you can't; it is risky..Isn't it riskier to be under water, negative return for the next 20 years with wholelife insurance or endowment?

Guest

10 Apr 2012, 7.07PM

Another tip to remember is "don't buy insurance from close ones because you will be getting rotten deals" and you have no say in the decision. Remember the brother who sold an endowment plan to a brother and upon maturity he got lesser than what he paid in total premium. This is what I mean by rotten deal and there are many of them from many insurance companies and the greedy agents just push for the commission without thinking of your interest...Commission first...brothers, sisters, uncles and aunites
Ah Pekks , Ah Sohs and Ah Gong aside. My commission is king.

Guest

10 Apr 2012, 11.10PM

160% of the premium goes to the pocket of the insurance agents? It is unbelievable? Why isn't this disclosed by agents and insurers?
No wonder people are saying the insurance companies and their insurance agents are in cahoot to fleece the unsuspecting consumers. The consumers are really comatose.
If this 160% wasn't pointed out by MAS we consumers will die under insured and without funds for our retirement. What wickedness!!!!!!!

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