Fundsupermart now sells insurance from Manulife, NTUC Income and Tokio Marine. Who knows, more may come on board. What is unusual is that it is not an online self-direct purchase. This is not a ‘web aggregator’ which MAS wanted (which is for self-directed persons to compare different products online). It is the traditional one-one advisory approach. They promise to rebate 50% of the commission. They are also not solely selling term insurance as they can sell whole life as shown in this latest article: HERE

I think this is the start of the price war for insurance where rebate of commissions become more rampant.

With MAS push towards more pricing transparency and ease of comparing products (via the web-aggregator), encouraging customers to buy ‘direct’ plus the competition on the lowest commission, it is a matter of time that commissions race towards sub-zero. The unit trusts upfront fee took about 10 …