My friend told this story. 25 years ago, when he started working, he bought a few insurance policies from company X. The agent keeps coming back to him every few years, to advice him to change to a new plan. He took the advice.
Later, he realised that the agent was taking him for a ride. The agent was not looking after his interest. Each time, when he changed the policies, the agent earned a big commission again. He cancelled all the policies, and dropped the agent.
Later, he moved to company Y. The agent gave him good advice, and served him well until today.
Both company X and company Y are not NTUC Income. My friend said that he now buy his home and car insurance from NTUC Income.
Advice: Do not allow your agent to advice you to switch your policies to a new plan. You will lose most of your savings. The agent earned a high commission during the first two years.
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