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Anonymous
Hi guys,
Someone from a bank called me to explain their new bank-exclusive product and then offered to enroll me.
It was an insurance product that pays $X per day of hospitalisation.
I said I would like T&Cs, following which they declined on the basis that it was a bank-exclusive product, not available to non-bank customers. Is this a legit practice at all?
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Elijah Lee
22 Oct 2024
Senior Financial Services Manager at Phillip Securities (Jurong East)
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Maybe ask the name of the product. else just move on. no shortage of products
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No stay
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I wouldn't buy insurance from the banks.
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Practice wise, i will always reject it...
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Hi anon,
Such products tend to be accident plans (which require no underwriting) and the benefit would be a payout in the event of hospitalization due an accident.
It is a straightforward product but you have the right to ask for more information before making any decision.