The person who is supposed to give me an explanation on how the insurance premium emailed me, telling me a big piece of good news.... they are going to give me 10% discount. It is so kind of them *LOL*:
From: "Cyndiie Yong" s000699@income.com.sgTo: XXX@yahoo.comCC: "Goh Peng Hong" , "Cho Lai Weng" , "Stacia Lim" , "Edwin Wong" , "Belinda Sim"
Subject: Renewal Premium for XXX9999X - Pol no. 0082910147-02
Date: Mon, 4 Jul 2005 18:44:11 +0800
Mr Tan
We have reviewed your case again and are prepared to allow a 10% special discount for this year as the increase for pick-up models are too steep.
The final renewal premium is $1549/-.
regards
Cyndiie Yong
Executive, General Insurance dept
NTUC Income
Cooperative...Your Partner for A Better Life
DID : 6877-3074See that? They are willing to give me 10% discount, is it because I asked for references or they think that I am a good customer to keep?? I do not have an answer....Anyway, I still cannot figure out how the sum is derived:Date: Mon, 4 Jul 2005 20:43:25 -0700 (PDT)
From: XXX@yahoo.comSubject:
Re: Renewal Premium for XXX9999X - Pol no. 0082910147-02
To: "Cyndiie Yong"
CC: "Goh Peng Hong" , "Cho Lai Weng" , "Stacia Lim" , "Edwin Wong" , "Belinda Sim" bsim@income.com.sgMs Yong,
I quote you: "The increase is between 5% to 10%, depending on the make and model of the commercial vehicles."
My gross premium last year was $1207. This year, it is $1722. As you have said, there is an increment of 5% to 10%. The maths is like this:
1722 - 1207 = 515
515/1207 * 100 = 42.67%
How does this related to the 5% to 10% increment you have explained? Can you explain how you have derived at the sum more clearly? With the special discount you have given, 10% discount from $1722 = 1549 is correct. But,
1549 - 1207 = 342
342/1207 * 100 = 28.33%
I still do not see how this is related to the 5% to 10% increment on all makes and models of commercial vehicles. It will be good to hear the calculation from you. Thanks.
Regards,
Tan XXX XXXXI felt so sad after reading her email........ I totally cannot figure out how the premium is derived..