Most insurance companies pay about 160% of the annual premium as commission to their agents (including overriding commission to the agency managers) for a long term life insurance policy.
If you save $100 a month, the annual premium is $1,200. At 160%, your savings of almost $2,000 goes to pay the commission. That is a lot of money.
NTUC Income pays a modest commission to our insurance advisers. Our total cost is about half of the market. This allows us to give a better return to our policyholders.
Since our advisers earns a lower commission, you should try to reduce the work for them. Do not ask them to make many visits to your home to close a sale. Try to see them in our office.
Help our advisers to improve their productivity. This will allow us to reduce our expenses and pass the savings back to you.
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