Tuesday 7th Sep 2010 12:11 PM
IFA can now distribute AIA products
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Mon, 08/04/2008 - 10:41
Would this signal the things to come for the industry?
but i think not much ppl would love to take AIA products?
They are so expensive as compared to similar products from other insurance companies...
hahhaa you are right
can sell doesnt mean will sell. hard to justify the premiums unless some ppl really like brands they are familiar with
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MSN: Kelvintcw@hotmail.com
yeah...
sometimes i think of the AIA policy that I have, i feel that it's really a waste of my money... pay so much premium but coverage is not that attractive...
That time when i purchased the policy was because I did not really know how to compare products between different insurance companies and thus bought this AIA policy. But after learning how to compare, it's really not worth the money...sianzzzz.....next month shall be the month when i will terminate my AIA policy liao..
sometimes i think of the AIA policy that I have, i feel that it's really a waste of my money... pay so much premium but coverage is not that attractive...
That time when i purchased the policy was because I did not really know how to compare products between different insurance companies and thus bought this AIA policy. But after learning how to compare, it's really not worth the money...sianzzzz.....next month shall be the month when i will terminate my AIA policy liao..
Be careful ... sometimes for some policies when you terminate you suffer a heavy loss for example endowment policies so if you have policies similiar to suffering a heavy loss when u terminate...a better advice would be to continue with it.
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
sometimes i think of the AIA policy that I have, i feel that it's really a waste of my money... pay so much premium but coverage is not that attractive...
That time when i purchased the policy was because I did not really know how to compare products between different insurance companies and thus bought this AIA policy. But after learning how to compare, it's really not worth the money...sianzzzz.....next month shall be the month when i will terminate my AIA policy liao..
Be careful ... sometimes for some policies when you terminate you suffer a heavy loss for example endowment policies so if you have policies similiar to suffering a heavy loss when u terminate...a better advice would be to continue with it.
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
it's alright...because that policy of mine has no cash value...so it's like the premium which i paid last year is fully used up when it is due for renewal this year.
Just my 2 cents opinion, before cancel the term policy, make sure you are covered by another insurance company. Only cancel the old policy after new policy inforced for 3 months and above.
What's the AIA policy that you are intending to terminate? Is it a WL, ILP or term?
It's a personal accident plan, i intend to look around for another personal accident plan from another company, which offers better coverage for the same premium or less.
AIA's product is kinda expensive and the coverage is not very "value for money"...
Totally agree with qwerty123. Expensive...
This is actually not something new. Years ago, some of the IFA companies were actually distributors for exempt insurance companies.
The agreements were subsequently terminated.
Come visit the Den of the Lion Investor for more investing ideas.
http://www.lioninvestor.com
Think recently they had this Signature plan that covers 500k or 1 million accident plan?
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
AIA now has private investments for wealthy investors...hmmm....
www.aia.com.sg/privatesolutions/
www.aia.com.sg/privatesolutions/
Haha, now insurance also want to copy the banks, coming out with different tierings for their customer segments...
but i guess wealthy investors would probably have private bankers investing for them...why would they need insurance companies to invest for them?
haha
haha
My guess would be the insurance companies want to offer the wealthy investors another alternative option?
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
hmmm...probably true also...
but if the investors are savvy enough, they would probably have already known that most funds offered by insurance companies are also available as standalone pure unit trust investments...lol
As regards to the current news about AIG, what will happen to AIA policyholders if AIG collapse(i don't know what is the correct word to use)?
What happen to AIG? Don't think AIG will collapse ar.. They are the largest in terms of assets?
No no no..what happened to Enron? what happened to the one of the BIG audit firm supposed to do auditing for them?? Recently UK largest Travel agency also collapse and got winded up suddenly.. Therefore size does not matter...
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
I do not know much about audit firms.
But when insurance is concern, there is a requirement for the insurance companies to maintain a certain level of cash reserve. It is a total separate account with the shareholder ones.
Even if the company really go bankrupt, there will definitely be a brought over by another insurance company.
This is what my agent told me: US government has loan AIG US$85 billion. AIG is saved. AIG can't afford to collapse as it has a lot of transation with other banks or insurance company. If AIG collapse, other banks and insurance companies will follow soon as they do reinsurance and therefore it's interlinked and chain reaction.
And she's asking me to read the news and claim that i am under the influence of other companies insurance agent...wtf...
maybe i should clarify a bit here...
i asked her initially based on the current problems AIG is encountering, what effects would it have on AIA and its policyholders?
Initially she answered me that they have seperate funds and AIA would not collapse...So, i was a bit "mischevious" and tried to test her firmness on this issue by saying i am still a bit doubtful, trying to see how she would be able to convince me...
but $85 billion is alot of money!!!
wonder how long would it take for the company to repay back the loan...especially now whereby consumer confidence is shaken and people might think twice about buying insurance that have any dealings with AIG( for example, it's subsidary units, AIG General Insurance and AIA)...company revenue would be affected and it might take an even longer time...or if the worst happen, not able to repay the loan...
That's what i feel...
So what does she say??
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
whatever she said is posted in post number #20...lol
regarding the things which i mentioned about in post #21, i never ask her...dun feel like talking to her anymore...
latest news...AIA's VP-cum-GM has just resigned and claimed that it has nothing to do with the current crisis...hmmm....any comments on this anyone?
Insurance companies indeed has a strong stand in the industry. Especially under the strict supervision and regulation under MAS, Singaporeans can be safe from the turmoil. However, personally, I feel that certain bonus for the polices might be indirectly affected.
Hm.. Usually key appointment holders resign from thier position after several big issues happen. Is hard not to relate to the crisis they are facing. It just my personal opinion.
my agent msged me yesterday to say that the GM was asked to leave because he was too late to assure the public and result in the chaotic scenes...therefore he was asked to leave..
Wah he so suay ah...how was he suppose to assure the public when the AIG issue came out last min...:S Aiya when you are paid so much and when somethings happens the top guy usually takes the blame ... as paid more = more shit to tah...
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
Wah he so suay ah...how was he suppose to assure the public when the AIG issue came out last min...:S Aiya when you are paid so much and when somethings happens the top guy usually takes the blame ... as paid more = more shit to tah...
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
i dunno whether is the agent telling me the truth or just cooking up a story...but anyway, i dun trust the agent too...so it doesn't matter to me...
Alot of AIA agents jump to other companies too.. Now the trend to ask: " Your agent jump to which company"?
we should redirect the question back to AIA: "How's your financial health?"
We should redirect the question back to AIA: "How's your financial health?"
They sure say goood... fantastic... lots of buffer... blah blah blah...
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
i terminated my policy and my agent has not contacted me...
i think she also predicted that this would happen..haha
Did you make a loss when you terminate your policy?
nope...because that policy doesn't have any cash value...so it's not an issue for me..
i terminated another AIA policy of mine today.
I am currently clear of all AIA's policies!!
AIA = Ailing In Agony