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Poor payout for consumers who paid premiums into Eldershield

The Independent
By The Independent

The former Chief Executive Officer (CEO) of NTUC Income, Tan Kin Lian has expressed that consumers are getting a poor payout for their premiums paid into Eldershield. He made the claim in pointing to data in his website.

Screengrab: http://tklcloud.com
Screengrab: http://tklcloud.com 

“The insurance companies are making a profit margin of 30 percent after providing for reserves for future claims,” Mr Tan said.

He added that they were making huge profits, “maybe $100 million a year”.

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