Bonus should be based on actual experience

Dear Mr. Tan,
Sorry if my posting seem to attack you, but i just want to clear the issue of the statement you said about me of " taking consumer for a ride".

I did mention that as a consumer, if the insurance company can provide me the projected maturity return at the end, I will be happy. (Higher return seem like a dream, lower return I will not trust that company anymore).

I do not support the insurance companies but accept that it thing we can't change. I never bought growth plan from ntuc income before, therefore want to find out whether did you previously as CEO of NTUC provide consumer higher than the projected return. (I know you gave good return for regular endowment).

Finally, I'm not an agent or manager from Income, but ex-agent from your competitor.
vfocus

REPLY
During my 30 years as CEO, Income give a good return to policyholders as follows:
> expenses are kept low
> 98% of the surplus are distributed as annual and special bonus to policyholders

During the 1980s and early 1990s, the bonus rates were increased every few years - made possible by the good investment yield. From 1998 to 2003, the bonus rates were reduced due to the low interest rate environment and two financial crisis.

Since 2004, the investment yields have been exceptionally good. In my view, the surplus is more than adequate to restore the bonus cuts in recent years.

This approach should be applied to all participating policies, i.e. regular and single premium policies. All participating policies should be treated fairly.