NTUC Income pays claims promptly

Hi Mr Tan,

I read your blog. I wish to give this feedback to you.

I heard from many Financial Advisers that NTUC is always very slow in their administrative processes, especially with regards to claims. Some claims can go up to half a year and they are still unsettled.

As a leading cooperation, is this acceptable? I wonder if you are aware of this happening on the ground.

JHN

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Dear JHN

95% of our life insurance claims are settled within 7 days. We pay more quickly than other insurance companies. This is published in our magazine and our website.

The financial adviser wants to scare you to avoid buying your insurance from NTUC Income. The reason is clear. If you buy from them, and they sell your a plan from another insurance company, they will earn a large commission. It could be up to 1 years of your savings.

I will leave you to make the best judgement.

Tan Kin Lian