Voodooman Supersonic August 6 Share August 6 On 8/1/2024 at 7:03 AM, TangoCharlie said: Their hospitalisation plans according to recent report ranked them among the top ie policyholders pay less premium. So they have done their part for Singaporeans. As an income policyholder, I am against the sale. Premiums will start shooting up after a few years of german wayang and I will be stuck. Switching to another is close to impossible due to age and medical underwriting. Wrote to MP but mail seems to have been lost in transit. A side issue is the severe dilution of minority shareholders from the capital injections in recent years by ntuc enterprise. Big windfall at the expense of minority shareholders. Well documented by ex CEO of income. Drafted an email and sent to my MP as well. Asked about safeguards to protect IP policies holders. Read the topic will be raised in Parliament next week. Now only regulator can block the sales as NTUC is committed to sell. ↡ Advertisement 2 Link to post Share on other sites More sharing options...
TangoCharlie Supersonic August 6 Share August 6 On 8/6/2024 at 7:32 PM, Voodooman said: Drafted an email and sent to my MP as well. Asked about safeguards to protect IP policies holders. Read the topic will be raised in Parliament next week. Now only regulator can block the sales as NTUC is committed to sell. We have done our part. It Was discussed at parly today not next week. "Should the proposed deal be approved, there will be no change to the terms and conditions of existing insurance contracts," Mr Chee said." He is also deputy chairman of MAS. The way the contracts are crafted, any premium adjustments or even riders t&c can be made by giving prior notice to policyholders like myself iirc, in accordance to the contract. LLST since cannot switch. https://www.channelnewsasia.com/singapore/allianz-income-insurance-parliament-social-mission-ntuc-mas-4521771?cid=internal_sharetool_androidphone_06082024_cna Link to post Share on other sites More sharing options...
Alfc 5th Gear August 6 Share August 6 On 8/5/2024 at 8:50 AM, Atonchia said: I was in a 7 car chain collision many years ago, think I was 3rd, a Toyota wish was in front of mine, a swift was behind mine. The swift busted the radiator and was spouting white fumes at bonnet. My front was damaged at the registration plate.... Just so happened my car and the Wish was sent to the same IDAC. My claim for the rear bumper was about $15k due to the strong collision from the swift. The Wish claim was $30k with very minor damage. I show the photo of the damage and complain it's over claimed eventually think the insurer pay out $20+k. IDAC only do record .... It's the workshop anyhow inflate the claim. KNN the value of the Wish was $60k claim $30k. This is the buffet style insurance we have now, be it for motor or medical. Pay premium already must claim gao gao to be worth it. End up vicious cycle - claims by individuals go up; premiums go up for everybody, the introduced co-payment is too little to have a significant impact. IMO, this is the main issue to be addressed by the government; do not leave it to the parties (workshop/medical provider/insurer) to decide. If not, only the kum gong will pay to subsidise others, everybody will claim gao gao chiak buffet. Maybe should do more load premium on the claimant or increase the co-pay % etc 1 Link to post Share on other sites More sharing options...
Atonchia Supersonic August 6 Share August 6 (edited) On 8/6/2024 at 8:56 PM, Alfc said: This is the buffet style insurance we have now, be it for motor or medical. Pay premium already must claim gao gao to be worth it. End up vicious cycle - claims by individuals go up; premiums go up for everybody, the introduced co-payment is too little to have a significant impact. IMO, this is the main issue to be addressed by the government; do not leave it to the parties (workshop/medical provider/insurer) to decide. If not, only the kum gong will pay to subsidise others, everybody will claim gao gao chiak buffet. Maybe should do more load premium on the claimant or increase the co-pay % etc Totally agree on medical insurance. Once the medical organisation see my company's insurer they seem to know the coverage is higher than average. My dental rates for cleaning and polishing was definitely higher. Then for annual health check, there was one year I was recommended to 3 different specialist to further testing for some "anomaly reading" ..... Then eventually all 3 specialist cleared my health check say all fine. So recent years when the health check reading was same and when they recommend for further checks on similar .... I politely decline.... Edited August 6 by Atonchia 1 Link to post Share on other sites More sharing options...
Voodooman Supersonic August 6 Share August 6 On 8/6/2024 at 8:44 PM, TangoCharlie said: We have done our part. It Was discussed at parly today not next week. "Should the proposed deal be approved, there will be no change to the terms and conditions of existing insurance contracts," Mr Chee said." He is also deputy chairman of MAS. The way the contracts are crafted, any premium adjustments or even riders t&c can be made by giving prior notice to policyholders like myself iirc, in accordance to the contract. LLST since cannot switch. https://www.channelnewsasia.com/singapore/allianz-income-insurance-parliament-social-mission-ntuc-mas-4521771?cid=internal_sharetool_androidphone_06082024_cna CHT's doesn't give me much comfort with the below reply. The premium on my IP plan is payable annually. Come on, NTUC will profit from the sales of NTUC Income and someone will have to pay for the acquisition at the end of the day. Looks like it is a done deal. INCOME EXPECTED TO FULFILL OBLIGATIONS Mr Chee, who is also Transport Minister and Second Minister for Finance, said MAS also believes that a competitive market is the most effective way to "meet the insurance needs of Singaporeans" and facilitate access to affordable insurance options and good service over the longer term. For existing policyholders, MAS expects Income to fulfil its obligations under the terms of its existing contracts, he said. "Should the proposed deal be approved, there will be no change to the terms and conditions of existing insurance contracts," Mr Chee said. 1 Link to post Share on other sites More sharing options...
TangoCharlie Supersonic August 7 Share August 7 On 8/6/2024 at 11:38 PM, Voodooman said: CHT's doesn't give me much comfort with the below reply. The premium on my IP plan is payable annually. Come on, NTUC will profit from the sales of NTUC Income and someone will have to pay for the acquisition at the end of the day. Looks like it is a done deal. INCOME EXPECTED TO FULFILL OBLIGATIONS Mr Chee, who is also Transport Minister and Second Minister for Finance, said MAS also believes that a competitive market is the most effective way to "meet the insurance needs of Singaporeans" and facilitate access to affordable insurance options and good service over the longer term. For existing policyholders, MAS expects Income to fulfil its obligations under the terms of its existing contracts, he said. "Should the proposed deal be approved, there will be no change to the terms and conditions of existing insurance contracts," Mr Chee said. Well, I also believe a competitive parly is the most effective way to meet the aspirations of Singaporeans and facilitate access to affordable cost options and good service over the longer term. We are on the same page Min CHT!😄 If the insurance market is so regulated to protect policyholders, I wonder why govt run Medishield life, cpflife themselves. Tan boh eng? 2 Link to post Share on other sites More sharing options...
Spidey10 Supercharged August 7 Share August 7 On 8/6/2024 at 11:38 PM, Voodooman said: CHT's doesn't give me much comfort with the below reply. The premium on my IP plan is payable annually. Come on, NTUC will profit from the sales of NTUC Income and someone will have to pay for the acquisition at the end of the day. Looks like it is a done deal. INCOME EXPECTED TO FULFILL OBLIGATIONS Mr Chee, who is also Transport Minister and Second Minister for Finance, said MAS also believes that a competitive market is the most effective way to "meet the insurance needs of Singaporeans" and facilitate access to affordable insurance options and good service over the longer term. For existing policyholders, MAS expects Income to fulfil its obligations under the terms of its existing contracts, he said. "Should the proposed deal be approved, there will be no change to the terms and conditions of existing insurance contracts," Mr Chee said. say only, 2 yrs later can quietly do the necessary changes... just like what they did and commit to the ex CEO 2 yrs ago....else why would the ex ceo, and ex ex ceo all come out to say that this not right and going against the nature of the corporate policy.... hhhhmmmm sounds like deja vu with another scenario the WP and LMW was harping on in Parli for the past yr....will they listen and put pple 1st ? 1 Link to post Share on other sites More sharing options...
Tkseah Supercharged August 7 Share August 7 Tommy Koh also disagree with the sale... Link to post Share on other sites More sharing options...
TangoCharlie Supersonic August 9 Share August 9 "He said Allianz was approached by Singapore to explore combining its capabilities in these segments with Income’s local franchise “to bring Income into the 21st century and make them successful" Typo or slip of tongue? Who in Singapore approached him? He meant Singapore govt? https://www.straitstimes.com/business/allianz-profit-up-better-than-expected-75-in-second-quarter Link to post Share on other sites More sharing options...
TangoCharlie Supersonic August 24 Share August 24 Wow, my bro showed me the revision of premiums (up 20%) for his income preferred plan wef sep 2024. It will propel income to 3rd highest in lifetime premium per MOH table (based on info as at April 2024) from 3rd lowest, if other insurers staying put at current level. Rider premium increase is insane. Up 75%. Shocking! Link to post Share on other sites More sharing options...
RadX Moderator yesterday at 05:33 AM Share yesterday at 05:33 AM Deal is off https://www.channelnewsasia.com/singapore/ntuc-income-allianz-deal-singapore-government-edwin-tong-4675491?cid=internal_sharetool_iphone_14102024_cna 3 3 Link to post Share on other sites More sharing options...
inlinesix Hypersonic yesterday at 05:55 AM Share yesterday at 05:55 AM With a higher solvency requirement, NTUC has to put up more money. Yahoo!!!! Link to post Share on other sites More sharing options...
Throttle2 Supersonic yesterday at 06:00 AM Share yesterday at 06:00 AM On 8/6/2024 at 6:50 PM, jcmm said: We should allow foreigner in parliament too. Already quite a handful currently😅😂😂 Link to post Share on other sites More sharing options...
Tkseah Supercharged yesterday at 06:00 AM Share yesterday at 06:00 AM On 10/14/2024 at 1:33 PM, RadX said: Deal is off https://www.channelnewsasia.com/singapore/ntuc-income-allianz-deal-singapore-government-edwin-tong-4675491?cid=internal_sharetool_iphone_14102024_cna Machiam pap NCM created the problem then pap act hero solved the problem.. 😆 1 1 Link to post Share on other sites More sharing options...
Voodooman Supersonic yesterday at 06:01 AM Share yesterday at 06:01 AM On 10/14/2024 at 1:33 PM, RadX said: Deal is off https://www.channelnewsasia.com/singapore/ntuc-income-allianz-deal-singapore-government-edwin-tong-4675491?cid=internal_sharetool_iphone_14102024_cna Looks like @TangoCharlie kbkp works. I also wrote one to my MP. Erection coming. Now, COE next? 1 2 Link to post Share on other sites More sharing options...
Throttle2 Supersonic yesterday at 06:05 AM Share yesterday at 06:05 AM On 10/14/2024 at 1:33 PM, RadX said: Deal is off https://www.channelnewsasia.com/singapore/ntuc-income-allianz-deal-singapore-government-edwin-tong-4675491?cid=internal_sharetool_iphone_14102024_cna Flip prata liao lor. at first right hand say its a damn good correct deal. now left hand say not in public interest after public make noise. well done well done sack lim boon heng and ng chee meng together? save some costs too 1 1 Link to post Share on other sites More sharing options...
Throttle2 Supersonic yesterday at 06:13 AM Share yesterday at 06:13 AM On 10/14/2024 at 2:00 PM, Tkseah said: Machiam pap NCM created the problem then pap act hero solved the problem.. 😆 And they keep repeating this. Yet there are so many goons who keep allowing them to continue Link to post Share on other sites More sharing options...
Wt_know Supersonic yesterday at 06:15 AM Share yesterday at 06:15 AM alamak ... Aunty Lucy cannot rename to Aunty Emma liao ... ↡ Advertisement 2 Link to post Share on other sites More sharing options...
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