Shocked with bonus cut

I received a copy of this letter written by a policyholder to the appointed actuary of NTUC Income.

Dear
I'm glad to receive the INCOME 2008 annual Bonus Statement yesterday but was shocked with the contents.

My family of 5 have a total of 25 insurance policies with NTUC INCOME, nothing else but our trust on the house brand that give us protection and more reasonable returns.

I'm deeply disappointed with the new formulas used in calculating the annual bonus.

My family 5 Living Policies got the greatest hits. Based on the presentation by your agent, I accepted these Whole Life Policies and hope that in case needs arise, I can anticipate the Cash Value at that point of times in need. Now that INCOME told us
that we can expect the good returns after we leave this world and amount is up to INCOME mercy at that time. We have lost on planning of our insurance asset and unable to anticipate the amount we can get.

Your cut of about 50% in annual bonus for Whole Life Policy give a BIG BLOW to INCOME Policy Holders.