Buy Basic Insurance Directly and Save on Commission from 2015

Just wanted to share a great piece of news. Singapore consumers will be able to bypass insurance agents to directly buy basic insurance at lower costs.

For a start, the Monetary Authority of Singapore (MAS) will require all insurance companies that serve the retail market to offer three categories of protection products through the direct sales channel. They are term life insurance products with total permanent disability (TPD) cover, whole life insurance products with TPD cover and optional critical illness rider attached to term life or whole life insurance products.

Please refer to the website for the original news article published on the Straits Times.