On Sunday, the South China Morning Post published a letter written by former Singaporean Presidential candidate, Tan Kin Lian. If you don’t know who Tan Kin Lian is, read this blog post.
In his letter, Tan Kin Lian says:
“I support the view that the legislation in Hong Kong should require the insurers and intermediaries to act in the client’s best interest.”
And most notably:
“If this approach is too problematic, the legislators should consider taking the approach of the United Kingdom and Australia, which ban the payment of commission for life insurance policies that are taken primarily as an investment vehicle.”
You can read the full letter HERE.