Frequently Asked Questions and Answers

Insurance Transactions Important Notes


1. Who are the insurance companies in FSMOne Insurance?

1. Manulife (Singapore) Pte Ltd
2. NTUC Income Insurance Cooperative Ltd
3. Tokio Marine Life Insurance Singapore Ltd

2. How do I receive the commission rebate?

We will rebate 30% to 40% of total commissions that we receive from the insurer with respect to your insurance policy to you, for up to a maximum of 6 years or when the commission ends, whichever is shorter. (Refer to FSMOne Pricing Structure)

For the avoidance of doubt, total commissions refers to the basic (agent) and overriding (company and manager) commissions that insurers pay out upon successful inception of an insurance policy.

The commission rebate will be accrued and paid out to your Fundsupermart’s cash account only after each anniversary year of your insurance policy as long as we receive the commission from the insurers. Only insurance policies where premiums are paid for in cash mode (cheque or GIRO inclusive) will be eligible for commission rebate.

Shield plans, Eldershield supplements, or any other policies purchased using CPF Medisave/SRS, are excluded.

In addition to the unlikely event that you terminate your policy prematurely before the policy anniversary year, FSMOne Insurance may not rebate the commission to you in view of any commission clawbacks imposed upon us by the insurers, if any.

3. Do I Need to pay a fee?

You do not have to pay a fee as we retain part of the commission for the services once the policy is approved.

4. How do I receive my policy documents after my proposal has been accepted by the insurer(s)?

We will request the insurers for the policy documents to be delivered to us first. This is to facilitate any further administrative processes before mailing them out to you.

5. Can I surrender the insurance policy via FSMOne Insurance if I do not wish to continue?

Yes, you can approach us for any enquiry, administrative requirements or actions required pertaining to the insurance policies bought through us where we will submit instructions on your behalf to the insurance company.

Alternatively, you may also contact the insurance company directly if you wished to.

6. Where can I view my insurance policy details?

After receiving the proposal documents and updating them in our information system, you can login to your Fundsupermart account to view your insurance policy details.

7. What is the difference if I were to purchase via FSMOne Insurance or from the insurance company?

For the same product, whether bought with Fundsupermart or directly from the insurance company, there will be no difference with regards to the benefits, coverage or premium offered.

One difference is that, you will enjoy a discount by receiving a 30% to 40% rebate on the total commission that we receive from your policy insurer.