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Thread: All AIA insurance policy holders come in...

  1. #61

    Default Re: All AIA insurance policy holders come in...

    You seem inclined to believe your own speculation than what others are telling you. Getting 20% interest over 5 years is not hard. Without knowing anything about your plan I can only hazard a guess that the plan gives you a maturity benefit of 120% (guaranteed?) of the single premium in 5 years which is an annualised return of 3.7%. Doing a search online I found this These are stat board bonds which are considered risk free, if the company invest in slightly more risky assets (AA bonds) it would get an even higher yield. Still the company needs to deduct it's expenses, commissions, profits from the yield of the assets, a net yield of 3.7% to the PH is a bit high so I'm guessing your plan is capital guaranteed but with non guranteed bonuses?

    As to your question of whether the firm will lock in the full amount of assets on par, in short the answer is yes. Why? because it is required by legislation. You might think it is stupid but that is what MAS requires. The company is not holding 1 mil in cash but 1 mil in bonds that are expected to generate the cashflows needed to pay off the benefits 5 years later. Even the assets they hold are subjected to restrictions. The assets need to be a good match by term, nature and currency to the liabilities meaning you cannot use junk bonds or property or equity to back your liabilities that are guaranteed. Well actually you can but if you choose to mismatch your investments there are requirements for you to hold mismatching reserves. These are significant and generally the company will try to avoid mismatching as far as possible.

    Everything I state are factual and not my own "feel" or speculation. I can't tell you how I know without divulging too much about mysef which I am not willing to do considering I don't get anything out of this.

    Btw, agents don't know that much about the financial situation in a company, trust me. Don't get carried away and start blaming everyone.

  2. #62
    Moderator ortega's Avatar
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    Nov 2004
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    Default Re: All AIA insurance policy holders come in...

    a reminder:

    from MAS

    in short:

    Given the current uncertainty and volatility in the international financial markets, MAS reminds market participants to be responsible in disseminating information to the market. This includes electronic communications such as emails, commentaries on online forums and blogs.

    Disseminating false or misleading information, either knowingly or without considering the accuracy of the information, to induce the sale of securities or affect prices of securities is an offence under the Securities & Futures Act (SFA). It carries a fine not exceeding S$250,000 or jail term not exceeding seven years, or both. We will not hesitate to take action against any party that creates or spreads false rumours which cause disruption to our financial system.

  3. #63

    Default Re: All AIA insurance policy holders come in...

    LATEST AIA BAD NEWS: GM of AIA Insurance has jumped ship and resigned

  4. #64

    Default Re: All AIA insurance policy holders come in...

    So how? AIA Insurance Singapore now got no General Manager...

  5. #65

    Default Re: All AIA insurance policy holders come in...

    Quote Originally Posted by Exposure View Post
    u are an agent ??

    i know just one fact.. when there many ants attacking an elephant.. the big elephant will eventually die even ants are small but many
    Dear Friends,

    I am concerned. If you have been following news.. especially today.. as fellow clubsnappers. I hope you guys stop the propaganda.

    MAS has warned against spreading rumours and anyone who spreads falsehoods that disrupt the financial system. MAS said the spread of misleading information such as emails, online forums and blogs and commentaries will carry a fine of up to $250,000 or jail of up to seven years, or both. (From Straits Times today, 20th September 2008)

    I urged you to remove any rumours that you may or have posted online or emails.

    Does it matter if I am an agent? Hmm.. well, it doesnt matter even if I am, as I am not the one who sell you your big policies.
    Well , I am just concerned on this thread going out of order.

    Stop the propaganda. With no prejudice again.
    Last edited by stanleyfu; 20th September 2008 at 09:41 AM.
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  6. #66

    Default Re: All AIA insurance policy holders come in...

  7. #67

    Default Re: All AIA insurance policy holders come in...

    So far, my comments refers to the problem AIG and the sentiments are echoed off from the media regarding the initial unstable situation in AIA. Also, I refer to a particular group of agents who sells to my family and not to the entire cohort of agents or the company in question.

    My sentiments is no different from the man on the street, those whom reporters interviewed who queued for refunds.

    If any party or agents felt insulted by my sentiments, then my apologies. But whether agent or non agent, put yourself in the shoes of the people who invested to feel the heat.

    On the side note, I honestly believe there are good agents and bad agents out there on the street. Have you bought a policy which the agent pocket the money (with checque issued to his name) without issuing a policy? My family encountered before. This is not a joke. We could have gotten him in jail for a mere $8k policy, but the decision was to let it be and never to buy from him again. So, there are good and bad ones around. We just have to trust those who can be trusted.

  8. #68

    Default Re: All AIA insurance policy holders come in... come the Executive Vice President quit at this time?

  9. #69
    Member/Tangshooter falconite's Avatar
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    Default Re: All AIA insurance policy holders come in...

    Haa... did Mark sell u the policy himself? Haiya.. go to your agent lah... !! What good is a GM that skips a company when he is needed (looses all credentials... abd so strange that Manual Life still wants him). So If i were u.. I wil not stir a panic.. so long as you call your AIA agent and he or she is still there to answer your call... That would be like what COntaxable says... good agent loh. Cheers!
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