Page 3 of 3 FirstFirst 123
Results 41 to 51 of 51

Thread: Time to Cancel your NTUC Income Policy.

  1. #41
    Senior Member creampuff's Avatar
    Join Date
    Jul 2006
    Location
    Dover
    Posts
    5,116

    Default Re: Time to Cancel your NTUC Income Policy.

    I used to work at Income many, many years ago. Their insurance policies are good but the company has some shortcomings and known to "squeeze" agents. That said, I would still urge people to get some basic insurance cover.

    Anyway NTUC can also mean ... Never Trust Union Chief

  2. #42
    Senior Member
    Join Date
    Sep 2005
    Location
    Raffles Place
    Posts
    1,808

    Default Re: Time to Cancel your NTUC Income Policy.

    remember to read and ask carefully when u buy something from insurance.

    my fren thought he actually made money in this insurance investment but only to realise the maintenance fees has eaten up his profits instead, this info the agent never disclose to him

  3. #43
    Senior Member
    Join Date
    May 2002
    Location
    Singapore
    Posts
    1,719

    Default Re: Time to Cancel your NTUC Income Policy.

    Quote Originally Posted by vince123123 View Post
    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.
    yes, you have legal recourse. misrepresentation by the agent render the insurance company liable. complaint against agent are alway investigated and punishment are strictly enforced.

    what the thread originally is about is the poor claim handling of particular insurance comapny.

  4. #44
    vince123123
    Guests

    Default Re: Time to Cancel your NTUC Income Policy.

    Hmm, who enforces these punishments? The insurance company or some independent body?

    Quote Originally Posted by zekai View Post
    yes, you have legal recourse. misrepresentation by the agent render the insurance company liable. complaint against agent are alway investigated and punishment are strictly enforced.

    what the thread originally is about is the poor claim handling of particular insurance comapny.

  5. #45
    Member
    Join Date
    Jan 2002
    Location
    Western SG
    Posts
    1,537

    Default Re: Time to Cancel your NTUC Income Policy.

    Interesting case.
    Another case to consider. If one will on a plane and it crashed, and the body was not found/recovered. Do insurance pay under accidental death?

  6. #46
    Senior Member xunjas's Avatar
    Join Date
    Dec 2006
    Location
    Singapura
    Posts
    6,490

    Default Re: Time to Cancel your NTUC Income Policy.

    a true story to encourage Income policy holders,

    quoting a friend case, he had a surgery to repair torn knee ligament in 2003. Till 2005, PA and AIA will accept him to buy policy under standard term and conditions. PA and AIA excl. that leg. Only Income accept him under standard terms and conditions with no extra charges or exclusion. In 2006, his recovered knee had to undergo surgery due to torn ligament. He filled up claim form and mailed the claim form by normal mail.

    After 7 days, he received his claim by interbank transfer. He found out that Income underpaid his medisave claim. He called up Income and the medisave was transfered in 1 week time.
    Last edited by xunjas; 24th August 2007 at 01:38 PM. Reason: addition

  7. #47
    Senior Member
    Join Date
    May 2002
    Location
    Singapore
    Posts
    1,719

    Default Re: Time to Cancel your NTUC Income Policy.

    Quote Originally Posted by xunjas View Post
    a true story to encourage Income policy holders,

    quoting a friend case, he had a surgery to repair torn knee ligament in 2003. Till 2005, PA and AIA will accept him to buy policy under standard term and conditions. PA and AIA excl. that leg. Only Income accept him under standard terms and conditions with no extra charges or exclusion. In 2006, his recovered knee had to undergo surgery due to torn ligament. He filled up claim form and mailed the claim form by normal mail.

    After 7 days, he received his claim by interbank transfer. He found out that Income underpaid his medisave claim. He called up Income and the medisave was transfered in 1 week time.

    i do not know how that make income better? they insure him, they have to pay him....
    doing what they have to do should not impress anyone.

  8. #48
    vince123123
    Guests

    Default Re: Time to Cancel your NTUC Income Policy.

    My sentiments too.

    Quote Originally Posted by zekai View Post
    i do not know how that make income better? they insure him, they have to pay him....
    doing what they have to do should not impress anyone.

  9. #49

    Default Re: Time to Cancel your NTUC Income Policy.

    Quote Originally Posted by Snowcrash View Post
    Interesting case.
    Another case to consider. If one will on a plane and it crashed, and the body was not found/recovered. Do insurance pay under accidental death?
    i think this should be covered by the airline...not sure insurance in sg covers that a not also...

  10. #50
    Senior Member
    Join Date
    May 2006
    Location
    Volcano Land
    Posts
    2,351

    Default Re: Time to Cancel your NTUC Income Policy.

    Uh... abit OT. But regarding the airline crash where there are multiple claims from dead/alive, the insurance company has only a limited liability for "the crash". e.g. up to 5million in total. even if the total amount sort after by the claimants are more than that amount.

  11. #51
    Senior Member
    Join Date
    May 2002
    Location
    Singapore
    Posts
    1,719

    Default Re: Time to Cancel your NTUC Income Policy.

    Quote Originally Posted by Yatlapball View Post
    Uh... abit OT. But regarding the airline crash where there are multiple claims from dead/alive, the insurance company has only a limited liability for "the crash". e.g. up to 5million in total. even if the total amount sort after by the claimants are more than that amount.
    ?????????????????????????????????????????????????? ??????????????????????????

Page 3 of 3 FirstFirst 123

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •