Monetary Authority of Singapore (MAS) said that it will launch a review on current financial products with the aim of lowering the costs of the products as well as raising the quality of advice given by the agents.  I actually find these expected changes to be quite welcoming; however, I do wonder about the effectiveness and the speed at which these policies will be implemented. Cost Reductions of Life Insurance Policies One of the main proposals is to examine the cost structure of life insurance policies where not only the agent receives the fees but the supervisors as well. According to Mr Ravi Menon, Managing Director of MAS, “for a whole life insurance policy, the total commissions and overrides earned by the representative and his supervisors would be equivalent to about 160 per cent of the insurance policy’s annual premium.” It is one of the reasons why I ......