Lifting the veil on insurance pricing
While the CompareFirst portal is a boon, buyers should do their homework as pre-existing conditions may be an issue for some types of cover
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Genevieve Cua
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A DECADE ago, getting comparative quotes on life insurance plans was an uphill task, even for a financial journalist.
Today the CompareFirst portal (www.comparefirst.com.sg) - a joint effort by the Consumer Association of Singapore, MoneySense, the Monetary Authority of Singapore and Life Insurance Association - has finally lifted the veil on pricing, particularly for larger insurers that traditionally deal only through tied agents. CompareFirst was launched earlier this week.
This journalist hopes the transparency will spur insurers towards even more competitive pricing.
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