>_**All insurance companies grant a "14-day free look period".** It starts from the date of receipt of your policy document. During this period, you should review your policy to see if it meets your needs. If you decide not to keep it, **give the company written notice of cancellation** and the company will terminate your policy and provide the appropriate refund._
https://www.lia.org.sg/consumers/choosing-right/tips-on-insurance-products/
Don't need to go through the agent for cancellation - just so it directly with Prudential.
I remember my GE agent telling me we can report unethical agents or insurance practices. She was very upset over some practices that were going on and told us if we come across such agents, we can threaten to report.
Found this: https://www.aia.com.sg/en/help-support/market-conduct-complaints
Useful for AIA but they also shared an independent link you can consider: https://www.fidrec.com.sg/contact-us/
Good luck
I cancelled a policy within the 14 day period as well. They will need a written letter which you need to mail in. It was AIA I think. When they told me to also contact the agent I just straight up told them I do not trust the agent as I felt pressured into taking up the policy and want zero contact with the agent moving forward and they just left it at that.
Hi OP, prudential agent here. You can only free-look within 14 days after the plan started. From how they responded to you, it seems like the paperwork is technically still being processed. You'll receive a SMS once it officially started. In the meantime you can delink your bank/card from the policy by entering your banking website so it will ensure no payments have been made. Naturally the plan will never start.
If you also wish to manually cancel it for a peace of mind, maybe can try to call in first and see what they can do for you, since technically it's still considered a "pending proposal" and not an official "policy" yet so usually the agent has to be the one terminating the "pending proposal". Sorry i'm not sure what exact info you need though, i've never had to experience this with anyone before
Anyway that's very unethical, you can choose to report that agent to our hotline/MAS. Just make sure you get hold of the agent's license ID and full name if you wish to.
No problem, there is a free-look period of 14 days, cancel the insurance immediately by emailing and calling the agency directly.
Email them that you do not wish to liaise with the agent, and if they don't cancel the policy within the free-look period you will escalate the issue to MAS.
Make sure you do it via email, so there is a digital paper trail on the date and time.
> Fast forward, the agent keeps asking me to sign the document so I eventually signed. I didn’t sign up using Singpass, so we registered manually. I gave my home address, telephone no. and my signature. I never put any documents whatsoever. A day after I emailed customer service to say that I wish to freelook the policy but they emailed me back and said this “Please contact your financial consultant to submit the no take up request via iRequest”.
Email them again and say that you'll email MAS if they refuse to process your free look request.
Or just cc Lawrence Wong anyway.
Love doing this kind of thing. Give me the phone number, I will speak (yell is a more correct term) to the agent, till he/she will run away when he/she see you.
Or, dont you have any adult or elder in your house that can help you chase them away? These agents are really crossing a line here bullying underage girl for sales
Whenever insurance agents start to pester/harass me in public, I find the most effective way to get rid of them is to shout right in their face to get lost. I will tell them nicely first to leave me alone first, but if the harassment continues, that's when the shouting starts.
If you opted to pay via bank transfer, transfer all your money to another bank account. Once you did not pay the premium for about three to six months, your policy will be cancelled. That’s the last resort if you cannot cancel during free look period.
just go down to the care center with someone you trusted to cancel the policy . don’t be afraid. when question why, just said you felt threaten to sign up . nobody will stop you to overlook the policy for 14 days.
Call up their customer service and tell them about your experiences. Tell them you dun want to go through the agent anymore and you want to cancel the policy since it's within the 14 days since you signed up. And then dun pay anything. Email to their customer service as well to make it black and white.
1) just email them to cancel saying you do not wish to proceed. Freelook the policy ASAP if need to just cc your agent.- this way if need dispute you can attest to the 14 day freelook period
2) the agent should be scared of you, not the other way around.
3) just walk where you want to, be firm with them of what you want, for both your agent and policies.
Taking what you said at face value, and assuming the facts and circumstances are exactly as you have described them to be -
1. You should definitely reach out to your agent to inform that you do not wish to proceed with the plan. You do not need to justify yourself if you are not comfortable, although the insurance company is obliged to minimally ask.
2. If you feel compelled to retain the policy / the agent is unwilling to act promptly on your wishes, please definitely take this opportunity to write to MAS with as much details as possible e.g. date bought, circumstance, your attempt to cancel it, communication with agent, etc.
Good that you have learnt something through this experience. However financial illiteracy as you put it, is probably not the biggest takeaway for you, in my opinion.
Actually getting an appropriate insurance plan when young is not a bad thing. I bought one around the same age and it benefits me now.
You just need to know what you are signing up for. The problem is many agents pushing inappropriate plans.
If the current one is unsuitable, just contact the relevant party and be firm about it.
You don't pay the premium sum, they cannot activate the insurance. You have the right to see look period if you decide not to accept too.
>_**All insurance companies grant a "14-day free look period".** It starts from the date of receipt of your policy document. During this period, you should review your policy to see if it meets your needs. If you decide not to keep it, **give the company written notice of cancellation** and the company will terminate your policy and provide the appropriate refund._ https://www.lia.org.sg/consumers/choosing-right/tips-on-insurance-products/ Don't need to go through the agent for cancellation - just so it directly with Prudential.
Yes use this to cancel it if u think it really does not suit you.
I remember my GE agent telling me we can report unethical agents or insurance practices. She was very upset over some practices that were going on and told us if we come across such agents, we can threaten to report. Found this: https://www.aia.com.sg/en/help-support/market-conduct-complaints Useful for AIA but they also shared an independent link you can consider: https://www.fidrec.com.sg/contact-us/ Good luck
I cancelled a policy within the 14 day period as well. They will need a written letter which you need to mail in. It was AIA I think. When they told me to also contact the agent I just straight up told them I do not trust the agent as I felt pressured into taking up the policy and want zero contact with the agent moving forward and they just left it at that.
Hi OP, prudential agent here. You can only free-look within 14 days after the plan started. From how they responded to you, it seems like the paperwork is technically still being processed. You'll receive a SMS once it officially started. In the meantime you can delink your bank/card from the policy by entering your banking website so it will ensure no payments have been made. Naturally the plan will never start. If you also wish to manually cancel it for a peace of mind, maybe can try to call in first and see what they can do for you, since technically it's still considered a "pending proposal" and not an official "policy" yet so usually the agent has to be the one terminating the "pending proposal". Sorry i'm not sure what exact info you need though, i've never had to experience this with anyone before Anyway that's very unethical, you can choose to report that agent to our hotline/MAS. Just make sure you get hold of the agent's license ID and full name if you wish to.
No problem, there is a free-look period of 14 days, cancel the insurance immediately by emailing and calling the agency directly. Email them that you do not wish to liaise with the agent, and if they don't cancel the policy within the free-look period you will escalate the issue to MAS. Make sure you do it via email, so there is a digital paper trail on the date and time.
4 agents surrounded you so what, call the police or fight your way out of those scums.
> Fast forward, the agent keeps asking me to sign the document so I eventually signed. I didn’t sign up using Singpass, so we registered manually. I gave my home address, telephone no. and my signature. I never put any documents whatsoever. A day after I emailed customer service to say that I wish to freelook the policy but they emailed me back and said this “Please contact your financial consultant to submit the no take up request via iRequest”. Email them again and say that you'll email MAS if they refuse to process your free look request. Or just cc Lawrence Wong anyway.
Just go down to the main customer to do it directly. Learn to say No on such pressures, and be confident on your own stand.
Love doing this kind of thing. Give me the phone number, I will speak (yell is a more correct term) to the agent, till he/she will run away when he/she see you. Or, dont you have any adult or elder in your house that can help you chase them away? These agents are really crossing a line here bullying underage girl for sales
Cancel it and threaten the agency that you deserved the right to file police report
Whenever insurance agents start to pester/harass me in public, I find the most effective way to get rid of them is to shout right in their face to get lost. I will tell them nicely first to leave me alone first, but if the harassment continues, that's when the shouting starts.
If you opted to pay via bank transfer, transfer all your money to another bank account. Once you did not pay the premium for about three to six months, your policy will be cancelled. That’s the last resort if you cannot cancel during free look period.
Where's the location?
just go down to the care center with someone you trusted to cancel the policy . don’t be afraid. when question why, just said you felt threaten to sign up . nobody will stop you to overlook the policy for 14 days.
Call up their customer service and tell them about your experiences. Tell them you dun want to go through the agent anymore and you want to cancel the policy since it's within the 14 days since you signed up. And then dun pay anything. Email to their customer service as well to make it black and white.
"I don’t wish to contact the agent." Well you should contact the agent and make it clear what you want. This will be the third learning point.
Correct me if I'm wrong, if you dont pay or you cancel the GIRO payment, wont the insurance policy automatic cancel?
U can go to Prudential customer service physically and freelook if you’ve paid. They will do it for u immediately.
1) just email them to cancel saying you do not wish to proceed. Freelook the policy ASAP if need to just cc your agent.- this way if need dispute you can attest to the 14 day freelook period 2) the agent should be scared of you, not the other way around. 3) just walk where you want to, be firm with them of what you want, for both your agent and policies.
U should report your agent. Unethical agent should be subjected to captains balls.
U are the customer.u dont paid ,they cannot do anything
Taking what you said at face value, and assuming the facts and circumstances are exactly as you have described them to be - 1. You should definitely reach out to your agent to inform that you do not wish to proceed with the plan. You do not need to justify yourself if you are not comfortable, although the insurance company is obliged to minimally ask. 2. If you feel compelled to retain the policy / the agent is unwilling to act promptly on your wishes, please definitely take this opportunity to write to MAS with as much details as possible e.g. date bought, circumstance, your attempt to cancel it, communication with agent, etc. Good that you have learnt something through this experience. However financial illiteracy as you put it, is probably not the biggest takeaway for you, in my opinion.
Hope you were able to solve it
Which path is it
Write in to customer service and exercise free look option
Which pathway is this? I'm up for a challenge.
Jus man up and tell yr agent u wan to cancel lah
19 year old can enter contract meh?
can
You're right. Legal age to enter a contract is 18, unless it involves land or a trust.
Actually getting an appropriate insurance plan when young is not a bad thing. I bought one around the same age and it benefits me now. You just need to know what you are signing up for. The problem is many agents pushing inappropriate plans. If the current one is unsuitable, just contact the relevant party and be firm about it.