Rainman 1st Gear September 19, 2008 Share September 19, 2008 (edited) I have a 5+ years life/endownment plan with AIA, if I backout now I will incur $6k penalty straight... Should I just wait and see? People working in the front line of related trades, what's your thought on this? Edited September 19, 2008 by Rainman ↡ Advertisement Link to post Share on other sites More sharing options...
Snowbell Neutral Newbie September 19, 2008 Share September 19, 2008 I have an endowment plan for 6years already too, but am still holding on to it. Just wait and see. Link to post Share on other sites More sharing options...
So_nice 6th Gear September 19, 2008 Share September 19, 2008 just hold on bah. it seems tat the singapore front is still strong. Link to post Share on other sites More sharing options...
Lokech34 Clutched September 19, 2008 Share September 19, 2008 that why I always wander buy a policy keep also lost money. Withdraw also lost money. Better keep my money under my bellow Link to post Share on other sites More sharing options...
Chrispie 5th Gear September 19, 2008 Share September 19, 2008 dont worry lah... MAS will ensure AIA has enuf funds to back all policies. Singapore is safe. Our Elite govt thot through everything aldy. Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 19, 2008 Share September 19, 2008 (edited) hahah, you wish they can think thru everything. current market is unprecedented. I'm not saying that i think AIG will go under. becos i think it wont. but to me:- The only insurance one needs is the protection kind. eg...vehicle, property, health etc..... Endowment plan = i give you money for you to give me back later no way Jose! i will never buy endowment plans. Insurance to me is an expense, just like a car. dont ever think you can make money without risk from insurance. unless you are the agent.....hoho Edited September 19, 2008 by Throttle2 Link to post Share on other sites More sharing options...
Kingcopa 1st Gear September 19, 2008 Share September 19, 2008 just wait n see. MAS had strict regulation n require for insurance company here Link to post Share on other sites More sharing options...
Ccssgm 1st Gear September 19, 2008 Share September 19, 2008 Dun Worry MAS already Step In Link to post Share on other sites More sharing options...
Silver_blade Turbocharged September 19, 2008 Share September 19, 2008 If it's not your life saving...hold on for a while more. Start looking around to see what you want to do with the money when you finally surrender it or when it matured. I doubt AIA will give good dividends after what happened to AIG. They will be too busy selling some of their more profitable units, clear their debt, correct their wrongs, etc....no time to concentrate to help you grow your money. I also don't think the help from Fed will help them completely. Link to post Share on other sites More sharing options...
Hiphiphoray 6th Gear September 19, 2008 Share September 19, 2008 All trades of insurances should be ok. But the investment part im damn skeptical. One simple reason. How on earth is AIG gona repay the billions in loan, with INTEREST, within 2 YEARS!!!!!! I think they gona milk the subsidy companies slowly until all dry dry. Maybe thats why the Head of AIA left.....no more bonus to recvd liao. Better F off. Anyway, Im gona jump ship, health + investment & all, once the buddy Q @ AIA Bldg is shorter. Link to post Share on other sites More sharing options...
Silver_blade Turbocharged September 19, 2008 Share September 19, 2008 I'm less sure than you. ------------------------------------------------------------------------------------------- MAS urges AIA policyholders not to terminate policies hastily By Pearl Forss/Ryan Huang/Wong Siew Ying, Channel NewsAsia | Posted: 16 September 2008 1542 hrs SINGAPORE : The Monetary Authority of Singapore (MAS) has urged AIA policyholders not to act hastily to terminate their insurance policies, as queues formed outside AIA's offices on Tuesday, with some clients seeking to end their policies. ....With regards to AIG, MAS said: "The value of these assets is not linked to AIA's or AIG's financial condition, but like all investments, their value may be affected by general market conditions." The MAS assured the public that "AIA currently has sufficient assets in its insurance funds to meet its liabilities to policyholders"....... ------------------------------------------------------------------------------------------ MAS seems to be cautious in their words. If everything else is fine, I am sure MAS wil most likely step in to help. But if any of our banks got into trouble, I believe MAS will have to save our local banks 1st. Link to post Share on other sites More sharing options...
Sunnyboy Neutral Newbie September 19, 2008 Share September 19, 2008 (edited) Agreed with Silver_blade. That why i have surrendered 2 TP and 1 ILP, but still holding 1 which has past >10 years. Considering to take up a loan on the cash value for a period of time and pay the interest in order to buy an assurance. Edited September 19, 2008 by Sunnyboy Link to post Share on other sites More sharing options...
Seabass_sg Neutral Newbie September 20, 2008 Share September 20, 2008 dont worry lah... MAS will ensure AIA has enuf funds to back all policies. Singapore is safe. Our Elite govt thot through everything aldy. Agree . . . if wat MAS say is not true imagine the impact on their reputation and the govt if anything happen . . . no one will trust them liao . . . so i think should be alright since MAS dare to step out to reassure Link to post Share on other sites More sharing options...
inlinesix Hypersonic September 20, 2008 Share September 20, 2008 In Sg, insurance co has 2 balance sheet, Singapore Insurance Fund & Shareholder Fund. These 2 balance sheet form the balance sheet of the company. There is strict guideline on transfer from Singapore Insurance Fund to Shareholder Fund. In short, SIF cannot be anyhow use. Link to post Share on other sites More sharing options...
inlinesix Hypersonic September 20, 2008 Share September 20, 2008 If that is case, HDB should worry as most of HDB unit is insured by AHA, a member of AIG. Link to post Share on other sites More sharing options...
Fcw75 Hypersonic September 20, 2008 Share September 20, 2008 Dun queue. Read here: http://newpaper.asia1.com.sg/news/story/0,...,177376,00.html? Link to post Share on other sites More sharing options...
Albeniz Turbocharged September 20, 2008 Share September 20, 2008 Maybe thats why the Head of AIA left.....no more bonus to recvd liao. Better F off. Captain being the first one to abandon ship when disaster happens. Talking about leadership! Heard he is crossing over to a rival company. Would they have faith in him? Link to post Share on other sites More sharing options...
Rainman 1st Gear September 20, 2008 Author Share September 20, 2008 That is what the public is receiving, on actual fact nobody knows if he is asked to go.... ↡ Advertisement Link to post Share on other sites More sharing options...
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