Give better value to consumers

Some people, presumably insurance agents, dislike my postings on the bad practices of life insurance companies (i.e. cut in bonus, high charges, low yields, rejection of claims) and continue to make personal attacks against me in their anonymous postings.

It is better for these people to realise that the life insurance companies should change its bad practices and treat consumers fairly. This would be beneficial for the long term growth of the industry. Any business can thrive only when it offers value to its customers.

I also hope that my postings will prompt the insurance companies to change its products to offer a better return to its policyholders. Lately, I saw from some benefit illustrations that the distribution cost and effect of deduction has been reduced, i.e. give better value to consumers. Although they are still high, it is a step in the right direction.  More can be done.

REQUEST. Please do not use this posting as another opportunity to "bash" the insurance agents or products.


Tan Kin Lian