Seth’s Blog on Finance

Banks Should Not Act Like Insurance Agents: ST Forum

I refer to the following letter sent to Straits Times forum by Ms. Jessie Loy:

Banks should not act like insurance agents

RECENTLY, my husband and I were looking to buy some insurance policies. As we had previous bad experiences buying through insurance agents who were keen on pushing only their own companies’ products, we thought of buying through banks instead.

Since most banks are now positioning themselves as one-stop centres offering a suite of financial products, we thought they would be independent. We were wrong.

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