Dear Mr Tan,
I will not buy anymore structured products or anything sold by financial institutions after this lesson. I wished I had seek your advice two years ago.
But you also mentioned don't invest in whole life, endowment, policies, etc. I don't understand what you mean? I had total 8 policies with Income and all bought when you were CEO. Can you explain please?
REPLY
I also had 15 whole life and endowment policies over the years from NTUC Income, covering me and my family members. These policies offered good bonuses and a fair return on maturity in the past years.
Today, things are different. Income is now run on different principles - quite similar to the other insurance companies. I have decided to cancel a whole life policy, where the bonus has been cut.
I will decide on the other policies later.
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