Which insurance is good ?

Which company do you sign up your personal life policy with ?


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Feb 20, 2004
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#1
I am interested in signing one :)

Please share with me your experience and view of each company.

I would be appreciate if you can share the pro and cons as in differences between the companies.

I have these in mind.

- AIA
- NTUC
- Great Eastern
- AVIVA
- Predential

I hope we can all understand better. :thumbsup:

Some information

Manulife
Manulife and John Hancok was merged last year. The merger creates the largest life insurer in Canada, second largest in North America, and fifth largest in the world.

AIA/AIG
AIA in the latest ratings score double A's ratings instead of tripe A's rating.
 

eric69

New Member
Dec 22, 2003
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Global Village
#2
alwayschampion said:
I am interested in signing one :)

Please share with me your experience and view of each company.

I would be appreciate if you can share the pro and cons as in differences between the companies.

I have these in mind.

- AIA
- NTUC
- Great Eastern
- AVIVA
- Predential

I hope we can all understand better. :thumbsup:
I personally holds insurance policies from AIA, GE and NTUC. Basically their products are similar. But I try not to put all my eggs in one basket. Actually I think that the ins product you eventually buy will depend on who's pushing them to you. I ended up buying my AIA policies from a army mate, my GE from my uncle, and NTUC from my colleague.

I think NTUC is more reliable, since it's more of a local company. I have no reason to back that up, just my personal sentiments.
 

jsbn

Senior Member
Jul 24, 2002
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Planet Eropagnis
#5
alwayschampion said:
I am interested in signing one :)

Please share with me your experience and view of each company.

I would be appreciate if you can share the pro and cons as in differences between the companies.

I have these in mind.

- AIA
- NTUC
- Great Eastern
- AVIVA
- Predential

I hope we can all understand better. :thumbsup:
I don't have a specific one. My ex-classmate's working at Philips Securities as an independent Financial Planner. She usually recommends to me one that she thinks suits my needs (and pocket). No specific brand.
 

Feb 20, 2004
498
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#6
Just want to share some of my experience, i have met up a insurer and he calculated my monthly expenses and so on. He will advise to insure as much as possible. Usually we will settle down with something we are comfortable with.
 

Gymrat76

Senior Member
May 10, 2004
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#7
AIA is the one for me... when buying insurance always go with the big companies with proven track records. I once bought a hospitalization insurance policy from Malaysia, a local company. After I made one claim, they sent me a letter saying they were discontinuing my policy :angry: Damned pissed off man. Important to ensure if you're buying hospitalization/medical insurance that you have guaranteed renewal. Also important is to get a good agent.. makes it all the more easier to get things done like when doing claims and such
 

eric69

New Member
Dec 22, 2003
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#8
alwayschampion said:
Just want to share some of my experience, i have met up a insurer and he calculated my monthly expenses and so on. He will advise to insure as much as possible. Usually we will settle down with something we are comfortable with.
Insurance agents will always say that you are not insured enough. Basically the higher ins amount you buy, the higher is their commission. No matter how sincere they may be, money is still part of their agenda.

Over the years I have learnt that most important policies are still the medical ins policy, housing insurance and life insurance. Thre's no need to buy more for personal ins, becos later on, when having children, still need to buy child education ins, their life ins etc. So all and all, don't exceed 20% of your disposable income on ins products.

Investment-linked ins policies are currently having some bad press. Be caution when buying theses.
 

wiki

New Member
Sep 16, 2004
114
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40
weekee.fotopic.net
#9
alwayschampion said:
I am interested in signing one :)

Please share with me your experience and view of each company.

I would be appreciate if you can share the pro and cons as in differences between the companies.

I have these in mind.

- AIA
- NTUC
- Great Eastern
- AVIVA
- Predential

I hope we can all understand better. :thumbsup:
I bought Manulife, they have one quite interesting saving package that is quite comprehensive and at the sametime allows you the option to convert into life insurance once it matures
 

Funny

Senior Member
Apr 2, 2005
0
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#11
swimcraze said:
from my own experience, it is the insurance agent that makes the BIG difference...(most insurance policies are competitive depending on your needs)
Yup! I agreed with swimcraze. Is the service and sincerity of the agent. Some ppl buy insurance becos of friends & relatives. This is not the correct way. In the end, they bought something that they do not need. Even if the relatives or friends buy them due to their close relationship, the insurance agents should see to their needs & affordability.

The most basic things for insurance needs should b life policy follow by health, accident, saving and investment. If u have all these kind of policies, you are more or less just enough insured(stil depend on your needs). Although some ppl suggest term insurance instead of life. This depend on situation and needs. They say life returns is low compare to outside investment. This I do agreed. But the thing is do they know how to invest? Are you the expert in investing? Can u make sure that you will not lose your hard earned $? Term insurance do not have any return unless u r dead. Term insurance get more and more expensive when u get older. Can u still afford it when u grow older with no return?

Life policy force u to save and the premium is level. No matter how old they r, they still pay the same so the younger u buy the cheaper it is. This is good for ppl do not know how to save and invest. U never know what is going to happen. If anything happen, u pay little $$ for the premium and get some $$ for ur love ones. Is always the ones that are living suffer the most.

Eric69 say that insurance agents ask u to buy becoz of commission. Not all insurance agents are ilke that. Perhap, u have not meet a good one yet. It is true that they earn commission thru selling policies. Insurance have to make a living too. They are also humans. Their career life are not easy.U tot they sit in the office, the money will drop thru the sky. This is the harsh reality that they have to face, GOT WORK THEN GOT $. The higher the premium the more they earn and the more policies they sell the more they earn( Of coz lah).

All insurance agents must go thru personal financial review for all their clients(is a must requirement by MAS), so therefore, they are cannot anyhow sell policies that does not meet clients needs and sell high premium policies to clients.

It is also stupid for insurance agents not to meet clients affordability. Lasping of policies due to clients poor affordability will affect insurance agent performance also. Usually the affordability is 10% of the client pay.

Don't always buy policies due to which one is the cheapest. As the saying " monkey gets peanuts". Sometimes, hard to compare also. U can't compare orange to an apple. Sometimes ppl will say that insurance are cheating ppl $. How come cannot claim when they are hospitalise or get illnesses. This is because they do not take note of what they are buying and do not understand the terms of the policies. They are too many kinds of policies. Different kinds meet different needs. So u got to tell ur insurance agents what u really want to cover when things happen.

Claimant and efficiency of the company also important. GOOD INSURANCE AGENTS serving u is the most important. U must be at ease with ur own insurance agent, have to clear your every doubts with them and treat them like ur friends.

So happy buying for ur protection needs. :)
 

therat

New Member
Nov 26, 2003
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#12
I'm using AIA and GE.
AVIVA always tie up with banks and credit card.
Receive all from UOB card card and DBS card. Selling abt personal accident plan, hosital plan.

presonally , I don't like NTUC... had a feeling it's insurance very little that's why premium little. and heard from ex-collegue (donkey yrs back).. sth like life insurance only insurance if u die @ singapore / Malaysia.. somewhere in Asia. If happen u die @ US.. too bad...
Can choose place to die , want mah.. ;(

I prefer AIA and GE as they are world-wide if "bad luck" kenna sth oversea at least my family can claim.
especailly I go tour every yr
 

Feb 20, 2004
498
0
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#13
Funny said:
Yup! I agreed with swimcraze. Is the service and sincerity of the agent. Some ppl buy insurance becos of friends & relatives. This is not the correct way. In the end, they bought something that they do not need. Even if the relatives or friends buy them due to their close relationship, the insurance agents should see to their needs & affordability.

The most basic things for insurance needs should b life policy follow by health, accident, saving and investment. If u have all these kind of policies, you are more or less just enough insured(stil depend on your needs). Although some ppl suggest term insurance instead of life. This depend on situation and needs. They say life returns is low compare to outside investment. This I do agreed. But the thing is do they know how to invest? Are you the expert in investing? Can u make sure that you will not lose your hard earned $? Term insurance do not have any return unless u r dead. Term insurance get more and more expensive when u get older. Can u still afford it when u grow older with no return?

Life policy force u to save and the premium is level. No matter how old they r, they still pay the same so the younger u buy the cheaper it is. This is good for ppl do not know how to save and invest. U never know what is going to happen. If anything happen, u pay little $$ for the premium and get some $$ for ur love ones. Is always the ones that are living suffer the most.

Eric69 say that insurance agents ask u to buy becoz of commission. Not all insurance agents are ilke that. Perhap, u have not meet a good one yet. It is true that they earn commission thru selling policies. Insurance have to make a living too. They are also humans. Their career life are not easy.U tot they sit in the office, the money will drop thru the sky. This is the harsh reality that they have to face, GOT WORK THEN GOT $. The higher the premium the more they earn and the more policies they sell the more they earn( Of coz lah).

All insurance agents must go thru personal financial review for all their clients(is a must requirement by MAS), so therefore, they are cannot anyhow sell policies that does not meet clients needs and sell high premium policies to clients.

It is also stupid for insurance agents not to meet clients affordability. Lasping of policies due to clients poor affordability will affect insurance agent performance also. Usually the affordability is 10% of the client pay.

Don't always buy policies due to which one is the cheapest. As the saying " monkey gets peanuts". Sometimes, hard to compare also. U can't compare orange to an apple. Sometimes ppl will say that insurance are cheating ppl $. How come cannot claim when they are hospitalise or get illnesses. This is because they do not take note of what they are buying and do not understand the terms of the policies. They are too many kinds of policies. Different kinds meet different needs. So u got to tell ur insurance agents what u really want to cover when things happen.

Claimant and efficiency of the company also important. GOOD INSURANCE AGENTS serving u is the most important. U must be at ease with ur own insurance agent, have to clear your every doubts with them and treat them like ur friends.

So happy buying for ur protection needs. :)
You seems to be very good. Btw, where do you get your policy from ?
 

Funny

Senior Member
Apr 2, 2005
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#14
alwayschampion said:
You seems to be very good. Btw, where do you get your policy from ?
Hahahaha.....!! Interested and a believer in insurance mah. AIA! I make claimant(small amount) once from them. Very fast and efficent. Heard from others that they make claimant from them also no problem. :)
 

Feb 20, 2004
498
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#15
Funny said:
Hahahaha.....!! Interested and a believer in insurance mah. AIA! I make claimant(small amount) once from them. Very fast and efficent. Heard from others that they make claimant from them also no problem. :)
How about NTUC, NTUC seems to be cheaper.
 

Funny

Senior Member
Apr 2, 2005
0
0
0
#16
alwayschampion said:
How about NTUC, NTUC seems to be cheaper.
All insurance companies have their pro and con lah. Anyway cheap doesn't mean good. Expensive also doesn't mean good too. All I can say good financial adviser is important and you should know what is your own needs. Read the terms and condition carefully. Actually some ppl forget what the agents told them abt the terms and conditions. And when things happen, they accuse the agent of not telling them(heard from agents). Of course, there are some terms and condition which some agents did not tell them. But do remember there are always waiting period for critical illness for making claimant from their policies. Do try to understand that insurance company also need to make $$ and is a win win stiuation for both parties. Do not worry abt insurance company cheating you of ur $$ or the insurance plans have veri negatives effect on the clients becos MAS keep veri close tabs on all the insurance industry in singapore. ;)
 

#17
Funny said:
Hahahaha.....!! Interested and a believer in insurance mah. AIA! I make claimant(small amount) once from them. Very fast and efficent. Heard from others that they make claimant from them also no problem. :)

i agree....i have made a few medical claims from AIA before and it was very fast! Made some medical claims from overseas using NTUC and they were also very fast and efficient! very competitive market lah...
 

snowspeeder

Senior Member
Feb 16, 2004
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36
www.themenatwork.com
#18
Most insurance policies are quite similar. Important thing is to find one that suits your needs, don't just follow what others are doing blindly. Another thing is the agent you're buying from, be it someone you know or not; he/she has got to be committed in this industry, and not just a part timer in this field. His/her depth of knowledge in insurance products is essential in advising you the range of policies for your consideration.
 

#19
snowspeeder said:
Most insurance policies are quite similar. Important thing is to find one that suits your needs, don't just follow what others are doing blindly. Another thing is the agent you're buying from, be it someone you know or not; he/she has got to be committed in this industry, and not just a part timer in this field. His/her depth of knowledge in insurance products is essential in advising you the range of policies for your consideration.

totally. the worst senario is to have an insurance agent who works as a part- timer and then decides to change his job ;)
 

Feb 20, 2004
498
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#20
I recieved a cheaper quote from Prudential than AIA with the same premium.

Is there any difference rather than in pricings ?
 

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