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(Very Good)
NTUC Income

NTUC Income Hot

 
(1 Review)
 
(8 Reviews)
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NTUC Income Centre 75 Bras Basah Road Singapore 189557
 
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David Tan http://thesmartlocal.com/media/reviews/photos/thumbnail/64x64c/6c/b0/96/_1-1350116749.jpg
Listing created by David Tan on October 13, 2012    

NTUC Income was set up in 1970 to provide affordable insurance for workers in Singapore and to put value for customers above profits for shareholders.



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Genuine insurance provider

NTUC Income was the first insurance company that I got contact with, and has since been one of the companies that I would considered for purchasing insurance.

People might asked why NTUC? They are just a co-operative insurance, how can their bonuses be more and better as compared to others since their commission to the advisors are lesser than the outside competitors. They are just a supermarket place.

Hmm.. but isn't that precisely the point. Why are there still advisors working with them, especially the mature ones, if their commission is not as good. Everyone wants to earn more right? I had talked to a few different agencies before. For those advisors who are young and in the sector, the feel that they give me is also one of sales pitching. They always appeared more interested to sell you a product to get more money, than to see you a coverage beneficial to oneself. And who can blame them?

But for NTUC, i feel their sincerity as they approached their business by seeking a proper plan for their customers. It is precisely this passion of them that drives them to continue in this business although commission is lower and there are still in the same line for such a long time.

Would you want a long term relationship with your advisor, or one that sells you a plan and then disappear from the service in a years time.

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User rating summary from: 8 user(s)

Reliable insurance provider

My parents and I am currently signed up for life-long plans with NTUC income. In view of not only our health but of possible future plans that may require a large amount of money, we signed up for the Dependent's protection scheme as well as the guaranteed life annuity plan.

I find the policies good as the value of my father's Dependent's protection scheme is worth a few hundred thousand. In event of a sudden demise, and he is the sole breadwinner of our family, it will be enough to tide us through a few years till I graduate from university to take over the responsibility of caring for my family. Moreover, the annuity plan guarantees returns regularly on the money we parked with NTUC income, and the constant flow of cash has so far been reliable. In fact, my father's degree of trust is such that he is encouraged to buy the company's shares as he feels that generally, this is one company that can be banked on to produce reliable results.

In recent times, my own good impression of NTUC income has grown as well. For example, if you should take the opportunity to go to its webpage, simply admire the diversity of choices and options available, NTUC Income virtually covers every aspect of insurance, savings and investment we will ever meet. A bonus point would be the hilarious ads it places in cinemas to promote itself, though not very pertinent to this review, is worth mentioning as it has left is permanent imprint on my mind (a sign of a good advertisement).

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Warm and sincere agents

My first insurance policy is from NTUC income. A decade ago, just out of college, I got approached by this warm middle-aged lady who somehow got me to sit and listen to her preach on the benefits of the many policies NTUC income offers. Unlike many 'professional financial planners', she was very slow in her closing 'preach' and that made me feel that she was really sincere in helping me achieve my financial goals and was not just focused on closing the sale.

The few encounters I had with few other insurance companies haven't been so warm and sincere. Most of them were only too keen to close the sale and once the deal is done, they will disappear from the surface of the earth and looking for them for follow-ups becomes your own responsibility.

Over the years, as I emerged out from university to joining the workforce to becoming a freelance, she (my NTUC income advisor) has been advising me in the different stages in my life which policy or changes I should take up. Each time I need to know the status of my policy or take up last minute travel insurance, a quick call to them will settle it. With the stable and secured background of NTUC, I do not need to worry about the money I put into the policies. Everything is well-looked after.

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(Updated: January 12, 2013)

Value for Money Insurance Provider

Hi have been using NTUC Income as my insurance provider for my motor vehicle. I am very pleased with the service I must say. When I wanted to renew my motor insurance, they gave me great advice on the pros and cons of renewing it on a half yearly or annual basis. More recently, I contacted them for some changes that I wanted to make and the service was the best I've ever received from any insurance company.

Not only did they do a follow up of their own accord but they also provided a quick turnaround on my request within 1 day. Also, their online site is the most user friendly that I have seen. It works mostly if you have a lot of insurance from NTUC though as it gives you a detailed overview of the different insurances that you have and the expiry date and agent in charge. Impressive!

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Must make apple to apple comparisons

I have insurance policies from the major insurance companies and I can only say that NTUC Income has the lowest premium for a certain value coverage as compared to other insurance companies.

I had told the same thing to agents from the other insurance companies and they always told the same thing. I had to make a "apple to apple" comparison. I had heard agents telling me stories of how difficult it was to make claims from NTUC Income especially those people that bought their car insurance.

NTUC Income being mass market seem to be not so selective about their agents. I had met up with agents from many insurance companies and I personally felt that the NTUC Income agents I met were the least professional. They seemed to have too many customers they need to serve and wanted me to quickly sign up a policy with them so they can move on.

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Value for Money

After a bad experience with another agency, I did some research and realized that NTUC insurance plans are among the cheapest on the market. Some friends informed me that their service and claims process fall short of those from other insurance companies. However, I was fortunate to have a good NTUC insurance agent recommended to me.

He met me and explained in great detail the plans I was interested in. He even advised me which I would need and which could wait till a later date when my finances were more secure. It was clear that he was much more concern about me as a client then as a potential cash cow to be milked.

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no hard selling

One thing about NTUC Income is that they do not have any hard selling, or any vendors which constantly call people to buy their insurance. I personally find that annoying. Hence, I feel very comfortable purchasing insurance with NTUC Income as I don't feel pressured.

Recently, I just bought a travel insurance for myself at a discounted price. It is very worth it as the insurance covers many things which gives me a sense of assurance when I go overseas. My family always purchase insurance from NTUC Income because of its reasonable prices as well. Most importantly, their staff are very friendly and helpful. I would definitely recommend NTUC Income to those who are looking for a good insurance agent.

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Insurance for the masses

NTUC Income provides insurance policies for the masses in Singapore. From travel insurance for your round-the-world trip to an emergency fund for rainy days, one can find something here that caters to their needs.

Unlike private firms such as AIA or Prudential, the plans at NTUC Income are far from expensive. I have bought an insurance policy from one of the advisors here for my backpacking trip last year, and I found myself satisfied with the service I received. Despite misplacing some belongings, as soon as I proved the claim, they gave me my reimbursement within two weeks; speed that is lacking with several other companies.

Good for basic needs.

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Dependable, with lots of plans.

I went into the NTUC Income office located at Ang Mo Kio Hub last week, and I found myself admiring their efficiency at leaving many counters open to cater to the queue. It took me only 10 minutes to speak to a financial adviser about certain plans I'd been reading up on.

After about 20 minutes, I left the office and I have to say that I was impressed by the financial agent. She borke down all the nitty gritty details for me and did not use any confusing lingo. She was neither pushy nor desperate to close the sale. I find this refreshing.

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