The Straits Times reported that policyholders of AIA have to continue to pay more premium, i.e. longer duration of premium payment. This was due to poor investment returns.
As many as 120,000 policies are affected. These are the policyholders who bought the Financial Guardian, Choice Life and Prime Life.
Many years ago, when the advisers from NTUC Income approached me to make the same projections to the policyholders, I refused to do so. I think that it is too speculative.
But, the agents from AIA did roaring business by making this projection. Now their policyholders are disappointed and have to suffer in silence.
NTUC Income does not use marketing gimmicks to sell our products. We offer "honest" insurance products that are fair and good for our customers.
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