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Upgrade Living Policy to cover 40 dread diseases
21 Apr 2018 (76 views)

Dear Mr Tan,
I am a owner of the NTUC Living Policy ( LV85) since 1996 . Its contract covers 36 dreaded diseases and permanent diability (PD) provison for up to age 60 years. Today, NTUC has equivalent policy but covers 40 dreaded diseases and PD for age 70 years. 

I opine that for my policy to remain relevant as a solution, NTUC should rationalize my contract that I have coverage of 40 dreaded disease and PD for age 70 year. Not withstanding NTUC as a cooperative, it is also a fair act of social responsibility. In fact I expected them to be proactive and to initiate necessary action .    

REPLY
You can ask NTUC how you can upgrade the cover to 40 dread disease. See what they say. You can email to me when they send the terms of the upgrade to you.

When I was in charge of NTUC Income, I upgraded the existing Living policies at no additional charge whenever the policy was upgraded to include more cover.  I made this decision because the claim rate was low and the existing premium was able to provide the wider cover. 

I did not want to overcharge the customers and make an excessive profit.


 


Upgrade Living Policy to cover 40 dread diseases
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Dear Mr Tan,
I am a owner of the NTUC Living Policy ( LV85) since 1996 . Its contract covers 36 dreaded diseases and permanent diability (PD) provison for up to age 60 years. Today, NTUC has equivalent policy but covers 40 dreaded diseases and PD for age 70 years. 

I opine that for my policy to remain relevant as a solution, NTUC should rationalize my contract that I have coverage of 40 dreaded disease and PD for age 70 year. Not withstanding NTUC as a cooperative, it is also a fair act of social responsibility. In fact I expected them to be proactive and to initiate necessary action .    

REPLY
You can ask NTUC how you can upgrade the cover to 40 dread disease. See what they say. You can email to me when they send the terms of the upgrade to you.

When I was in charge of NTUC Income, I upgraded the existing Living policies at no additional charge whenever the policy was upgraded to include more cover.  I made this decision because the claim rate was low and the existing premium was able to provide the wider cover. 

I did not want to overcharge the customers and make an excessive profit.