Unfair treatment of consumers

I receive many requests for advice on insurance and investment products every week. I learned about the terms of these products from the facts and perspective presented by the consumers.

I am shocked at how the consumers are being badly treated and advised. In many cases, they were given promises that turned out to be unjustified.

Although some of the poor outcome could be due to the economic climate, a significant part is due to unfair dealings, e.g. large charges taken away from the consumer, inadequate distribution of bonus, misleading advice, predatory product design, and other bad practices.

How long can the regulators keep their head in the sand?

Tan Kin Lian

As a first step, I advise consumers to join FISCA (www.fisca.sg) The fee is only $36. Join now and build a strong FISCA to educate and help consumers. Do not wait until you are "cheated", as it will too late.