i am not in the insurance line. currently, cos do not discriminate potential policyholders according to their occupation. but i anticipate that when claims experience gets too much, they may consider this factor. e.g. by loading premium according to 'hazardous' occupation.
I never have problem claiming from my AIA insurance. quick fast hassle free claims
The agent has no duty to advise you of your rights. The agent is a salesman, which means his job is to present the good side and to hide the bad side - this is what all salesmen do.
If you are naive enough to rely on your agent, then you would only have yourself to blame if things go awry later.
Always read all terms and conditions yourself.
Your analogy of boss/employee is not the same. The employee owes a duty of care to the company. The agent is in a position of conflict.
Last edited by eikin; 22nd August 2007 at 08:48 PM.
Its called fine print for a reason you know. Its not the agent's duty to go through the fine print with you.
The thing that I dont like about this case is that INCOME should welcome any "disabled" persons to try to be useful to the society ..... pay them the full amount and encourage him to actually try to be useful.... like signing cheques and other light duties rather than stay at home, doing nothing...
always the Light, .... always.
Agents will explain all the main features of the products and services.....
All the important details of cover and benefits.
Any significant or unusual restrictions, warranties or exclusions such as frauds and wars.
Any significant conditions or obligations which you must meet.
We are HDD of PC & FT are MB add to storage;
so PC never hangs with enormous storage capacity - LKY
from the many postings here, it seems that all insurance companies makes it difficult to claim, esp big amounts, which is aimed at preventing fraudulent claims.
so our best strategy is to buy small policies or few small policies and from a few companies. this will prevent us from putting all our eggs in 1 basket.
any other strategies ?
ntuc makes my blood boil.... they still want to appeal!!!
hah~ I've never liked and supported INCOME.. the only stupid mistake was to buy that Pioneer policy while I was a chow recruit cos I got no choice. CSM say MUST buy so LL made to sign the policy.
INCOME is cheap, CHEAP.. you pay peanuts you get monkeys.
How fortunate for leaders that men do not think. - Adolf Hitler
For whoever is wondering what happened to some of the previous posts, I deleted it.
Keep the conversation simple and clean. Quote only when necessary. Multiple quotes in forum is as good or almost as good as the start of heated arguement.
Independent smaller insurers usually fare better in my eyes. Why? They really need to go that extra mile to hang on to the small little slice of the market share they have.
If you think claiming your own insurance is difficult, wait till you try claiming against someone else who also has a policy from the same company! This would be especially true for motor insurance.
from what you sprouted so far, you have only basic or hearsay understanding of the industry.
I work as an agent up to the position of sales manager in 3 different insurance companies so i reckon i know what i am talking about.
What I'm saying is, if an agent doesn't do those things, do we have a legal course of action against him?
If it is merely a guidance document (ie the agent can't be punished or barred for practising for not following the directions), then it isn't that much of a use?
There are many different types of salesmen, and I did not intend to use salesmen as a derogatory label. There are sales people who say "all there, see yourself", and there are those who explain the product to you, demonostrate, give you after sales service etc. An insurance agent may fall within either extremes of the spectrum.