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Unequal bonuses upset some GE clients
Insurer to cut bonuses for most policyholders except the few who reinvested before April. -ST
By Lorna Tan, Senior Correspondent SOME policyholders of Great Eastern Life are seeing red over the inconsistent way the insurer is cutting bonuses in the wake of crashing equity markets. Most policyholders with insurers here are expecting a bonus cut on traditional or participating insurance plans after a bleak six months or so for global markets. But a small group of fewer than 200 GE policyholders will suffer no such cut. The lucky few decided to roll over or reinvest the proceeds of matured policies into a new policy before April 1.
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