Admin executive paid yearly insurance premiums higher than annual pay

[tiny]

She saw the projected yield then cannot think properly?

 

[FT_FTW]

Nothing about the article to condemn the despicable sales tactics of UOB salesperson. Paint the picture she is a stupid poor woman with little education that's y in such shiat.

154

 

[NMSS_2]

such polices shouldnt be accepted by the management as well cause of the possibility of being defaulted.

the agent and the approver will kenna!

it is not a loan.

 

[jenny89]

380k is sales price is it
She thought she will have 380k cash

 

[benbenboi89]

thats what happen when u make these kind of products commission based. its not straight forward like buying vegetable or milk in the market where individual can make simple decisions.

consumers are often mislead, MAS knows it but continues to allow the industry to thrive.

who knows this is just one case out of the many uncover cases??

 

[Nano_YanGz]

Dont know dont anyhow gong. Banks where got insurance agents 1

Anyways, banks and financial insitution sucks.

They force their rm and sales force to grind sales for them through high quota. Levergaging their human relationships. Knn

prudential let UOB sell their policy. the person most likely is a "personal banker" whom is hired by the bank, but they are allowed to sell all kinds of financial products, including insurance. Singpost used to sell also, now not sure.

 

[fishbuff]

This type confirmed is gong gong dai dai part of the 70% one.

pap love this type deep deep.

 

[CuteBeaver]

http://www.uobgroup.com/about/careers/why_join_uob/core_values.html

 

[geniuspear]

i hear frm my fren who working as UOB rm that alot of misselling there leh... gt old aunty kana dupe to sign endownment that put 50k a year for 5 years BUT she tot she was signing for 10k a year for 5 years end up saving wipe and go the branch knee down and cry

heard the FAA complains there v high but the banker alot making millions ....

lol wtf

 

[ocs_woodlands]

Any job that involves being a salesperson can cause a person to be unethical.

That's why, call me old fashion or anything else, I will always want my daughter to be a professional. At least, a person will have the choice to be ethical. For sales, the temptation is too great.

 

[dark_aLLeY]

Nothing about the article to condemn the despicable sales tactics of UOB salesperson. Paint the picture she is a stupid poor woman with little education that's y in such shiat.

154

We should spread awareness about this.

 

[shizuka_b]

Wow, this one seems to be improper factfinding also. Must be the aunty sign all the blank forms, and the salesperson fill up and submit.

 

[foreseer]

a lot of banks are like that not just UOB

last time my mum went to put in money at DBS. the first thing RM say - wah so much money (not a lot, maybe 100k odd), want to put in our Fixed Deposit/Investment?

then my mother say "dont want lah, need these money. if not need money how?"

then the RM told her - if you need money can borrow from us

borrow your mother lah, got money then put in bank lend you. if no money then borrow from you, your interest rate very low har?

banking industry is ******* dirty and dark one. they take all our money go lend and spend like no tomorrow, then when shiet hits the fan all run away no need to go jail. then give us "promised returns" and interest rates all low like shiet.

banking adds no value, just shifting funds around only. i only use savings and at most fixed d, funds transfer etc.

Some of the so-called services is just to fleece unsuspecting consumers

 

[Dark84]

$350k from divorce. Lawyer takes $250k.

Now guys, did you all say WC owns us ? Or rather, it is the fcking lawyers?

 

[foreseer]

they see late middle age/elderly aunties and uncles first thing is to aim their money.

and u know what? these so called "retail bankers" many of them badmouth and see old uncles and aunties no up. yes this is their so called conduct and character. all equally devious and unscrupulous

 

[Dark84]

Ah shutups la.. All sales profession are dirty from car salesmen to the durian seller.

Our job is to sell. We are just doing our job ok?

If not for sale persons, who earns the money for organizations?

If businesses don't make money, how to hire middle and back office people like you all?

Look at the big picture . All is lInked one

a lot of banks are like that not just UOB

last time my mum went to put in money at DBS. the first thing RM say - wah so much money (not a lot, maybe 100k odd), want to put in our Fixed Deposit/Investment?

then my mother say "dont want lah, need these money. if not need money how?"

then the RM told her - if you need money can borrow from us

borrow your mother lah, got money then put in bank lend you. if no money then borrow from you, your interest rate very low har?

banking industry is ******* dirty and dark one. they take all our money go lend and spend like no tomorrow, then when shiet hits the fan all run away no need to go jail. then give us "promised returns" and interest rates all low like shiet.

banking adds no value, just shifting funds around only. i only use savings and at most fixed d, funds transfer etc.

Some of the so-called services is just to fleece unsuspecting consumers

 

[GBC]

Reminds me of the bank selling the mini bonds with the so called "guaranteed" returns..

 

[Jeremy1]

That's why I never like sales line.

Basically I treat them like beggars..................

 

[Dark84]

Stupid man. Just take the $100k divorce money and plonk into a spread of sreits.

Liquid and returns surely higher than that 4% which isn't even guaranteed in the first place

Not to forget the amount of fees that pru collects lol

Source: http://www.straitstimes.com/business/insurance-premium-higher-than-her-pay

 

[Jeremy1]

Reminds me of the bank selling the mini bonds with the so called "guaranteed" returns..

Next time must used a recorder as source of evidence...................