They just sell insurance from Manulife, AXA, Asialife, HSBC and
some lesser known companies.
They always say because they are IFAs, (Independent Financial
Advisors), they can recommend a plan that best suit your
requirement. This is not true. They sell based on which policy
gives them a higher com.
Go at your own risk. Just because they are not the normal AIA,
prudential, ntuc, common insurance companies doesn't mean they are
any better. In fact, I'll pick AIA/prudential/ntuc/great eastern
any day.
Examples of other IFAs are IPP Capital, First Principle, etc.
There is this term "Vesting" that applies to their companies.
Meaning they will still receive commission from their insurance
sales even after they had left the company. (AIA/ntuc/GE/prud/ they
do not get anything if they leave.) So if I'm with this IFA today,
I sell you based on the plan that gives me the highest com. 2-3
years later, I may jump to another IFA or quit this line altogether
and work some other job, and I'll still continue to get the com
from the premiums you are paying. Good right?
And, if you need help/clarification/claims on the policies you had
bought, I'll ask you to call the company directly. It's hands off
for me.
And I'll bet you the person who took over your policies from me
won't good a good job for you. He's getting nothing servicing
you.
Cheeers.
