{"id":9935,"date":"2026-04-28T11:09:51","date_gmt":"2026-04-28T03:09:51","guid":{"rendered":"https:\/\/www.fmos.org.my\/?p=9935"},"modified":"2026-04-29T15:25:35","modified_gmt":"2026-04-29T07:25:35","slug":"alleged-mis-selling-single-premium-investment-link-insurance-plan","status":"publish","type":"post","link":"https:\/\/www.fmos.org.my\/en\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/","title":{"rendered":"Alleged Mis-selling &#8211; Single Premium Investment Link Insurance Plan"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Yap visited XYC Bank and met with a sales manager, who introduced a single-premium investment plan combining investment features with life insurance protection, underwritten by ABC Insurance. The plan required an annual premium of RM100,004 and provided coverage for Total and Permanent Disability, as well as overseas critical illness treatment, up to age 70.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Yap\u2019s initial intention was to place the funds in a fixed deposit. After the sales manager explained the product\u2019s features and benefits, Yap proceeded to sign up for the plan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Yap received a welcome call from ABC Insurance in Mandarin, as he communicates exclusively in that language. During the call, its representative explained the product features, premium amount, policy term, and the 15-day cooling-off period. Approximately 11 months later, Yap realised that RM100,004 was payable annually rather than as a one-off payment. He requested XYC Bank to refund the full premium paid, contending that he had intended to place money in a fixed deposit and was not interested in an investment product.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>FINDINGS<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">Evidence from ABC Insurance\u2019s welcome call and the documents executed by Yap indicates that there was no misunderstanding or miscommunication between Yap and the bank\u2019s sales manager regarding the nature of the investment-linked insurance plan.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>OUTCOME<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">The case manager recommended in favour of XYC Bank on the grounds that the product\u2019s nature as an insurance policy, the 15-day cooling-off period, and the consequences of early cancellation were clearly disclosed to Yap. Yap did not provide any compelling evidence to substantiate his allegation that the sales staff had misrepresented the product or misled him during the sales process.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yap visited XYC Bank and met with a sales manager, who introduced a single-premium investment plan combining investment features with life insurance protection, underwritten by ABC Insurance. The plan required an annual premium of RM100,004 and provided coverage for Total and Permanent Disability, as well as overseas critical illness treatment, up to age 70. Yap\u2019s [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":9936,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26,25],"tags":[],"class_list":["post-9935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-islamic-banking-payment-systems","category-case-studies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alleged Mis-selling - Single Premium Investment Link Insurance Plan - FMOS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fmos.org.my\/en\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alleged Mis-selling - Single Premium Investment Link Insurance Plan - FMOS\" \/>\n<meta property=\"og:description\" content=\"Yap visited XYC Bank and met with a sales manager, who introduced a single-premium investment plan combining investment features with life insurance protection, underwritten by ABC Insurance. The plan required an annual premium of RM100,004 and provided coverage for Total and Permanent Disability, as well as overseas critical illness treatment, up to age 70. Yap\u2019s [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fmos.org.my\/en\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/\" \/>\n<meta property=\"og:site_name\" content=\"FMOS\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-28T03:09:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-29T07:25:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/AR-Case-Studies-08.png\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"501\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"commsadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"commsadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/\"},\"author\":{\"name\":\"commsadmin\",\"@id\":\"https:\/\/www.fmos.org.my\/en\/#\/schema\/person\/8fbea4ebb5130d485f32d0731efd4689\"},\"headline\":\"Alleged Mis-selling &#8211; Single Premium Investment Link Insurance Plan\",\"datePublished\":\"2026-04-28T03:09:51+00:00\",\"dateModified\":\"2026-04-29T07:25:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/\"},\"wordCount\":276,\"publisher\":{\"@id\":\"https:\/\/www.fmos.org.my\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/AR-Case-Studies-08.png\",\"articleSection\":[\"Banking, islamic banking &amp; payment systems\",\"Case Studies\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/\",\"url\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/\",\"name\":\"Alleged Mis-selling - Single Premium Investment Link Insurance Plan - FMOS\",\"isPartOf\":{\"@id\":\"https:\/\/www.fmos.org.my\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/AR-Case-Studies-08.png\",\"datePublished\":\"2026-04-28T03:09:51+00:00\",\"dateModified\":\"2026-04-29T07:25:35+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#primaryimage\",\"url\":\"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/AR-Case-Studies-08.png\",\"contentUrl\":\"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/AR-Case-Studies-08.png\",\"width\":500,\"height\":501},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.fmos.org.my\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Alleged Mis-selling &#8211; Single Premium Investment Link Insurance Plan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.fmos.org.my\/en\/#website\",\"url\":\"https:\/\/www.fmos.org.my\/en\/\",\"name\":\"FMOS\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.fmos.org.my\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.fmos.org.my\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.fmos.org.my\/en\/#organization\",\"name\":\"FMOS\",\"alternateName\":\"Financial Markets Ombudsman Services\",\"url\":\"https:\/\/www.fmos.org.my\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fmos.org.my\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/FMOS_hori-logo_fullcolor-Custom.png\",\"contentUrl\":\"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/FMOS_hori-logo_fullcolor-Custom.png\",\"width\":262,\"height\":50,\"caption\":\"FMOS\"},\"image\":{\"@id\":\"https:\/\/www.fmos.org.my\/en\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.fmos.org.my\/en\/#\/schema\/person\/8fbea4ebb5130d485f32d0731efd4689\",\"name\":\"commsadmin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fmos.org.my\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a05f4bcfd9343a8f8d132e42c78c8681f5478a61135065e2d36ad22020b81651?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a05f4bcfd9343a8f8d132e42c78c8681f5478a61135065e2d36ad22020b81651?s=96&d=mm&r=g\",\"caption\":\"commsadmin\"},\"url\":\"https:\/\/www.fmos.org.my\/en\/author\/commsadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Alleged Mis-selling - Single Premium Investment Link Insurance Plan - FMOS","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.fmos.org.my\/en\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/","og_locale":"en_US","og_type":"article","og_title":"Alleged Mis-selling - Single Premium Investment Link Insurance Plan - FMOS","og_description":"Yap visited XYC Bank and met with a sales manager, who introduced a single-premium investment plan combining investment features with life insurance protection, underwritten by ABC Insurance. The plan required an annual premium of RM100,004 and provided coverage for Total and Permanent Disability, as well as overseas critical illness treatment, up to age 70. Yap\u2019s [&hellip;]","og_url":"https:\/\/www.fmos.org.my\/en\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/","og_site_name":"FMOS","article_published_time":"2026-04-28T03:09:51+00:00","article_modified_time":"2026-04-29T07:25:35+00:00","og_image":[{"width":500,"height":501,"url":"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/AR-Case-Studies-08.png","type":"image\/png"}],"author":"commsadmin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"commsadmin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#article","isPartOf":{"@id":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/"},"author":{"name":"commsadmin","@id":"https:\/\/www.fmos.org.my\/en\/#\/schema\/person\/8fbea4ebb5130d485f32d0731efd4689"},"headline":"Alleged Mis-selling &#8211; Single Premium Investment Link Insurance Plan","datePublished":"2026-04-28T03:09:51+00:00","dateModified":"2026-04-29T07:25:35+00:00","mainEntityOfPage":{"@id":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/"},"wordCount":276,"publisher":{"@id":"https:\/\/www.fmos.org.my\/en\/#organization"},"image":{"@id":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/AR-Case-Studies-08.png","articleSection":["Banking, islamic banking &amp; payment systems","Case Studies"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/","url":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/","name":"Alleged Mis-selling - Single Premium Investment Link Insurance Plan - FMOS","isPartOf":{"@id":"https:\/\/www.fmos.org.my\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#primaryimage"},"image":{"@id":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/AR-Case-Studies-08.png","datePublished":"2026-04-28T03:09:51+00:00","dateModified":"2026-04-29T07:25:35+00:00","breadcrumb":{"@id":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#primaryimage","url":"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/AR-Case-Studies-08.png","contentUrl":"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/AR-Case-Studies-08.png","width":500,"height":501},{"@type":"BreadcrumbList","@id":"https:\/\/www.fmos.org.my\/alleged-mis-selling-single-premium-investment-link-insurance-plan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.fmos.org.my\/en\/"},{"@type":"ListItem","position":2,"name":"Alleged Mis-selling &#8211; Single Premium Investment Link Insurance Plan"}]},{"@type":"WebSite","@id":"https:\/\/www.fmos.org.my\/en\/#website","url":"https:\/\/www.fmos.org.my\/en\/","name":"FMOS","description":"","publisher":{"@id":"https:\/\/www.fmos.org.my\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.fmos.org.my\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.fmos.org.my\/en\/#organization","name":"FMOS","alternateName":"Financial Markets Ombudsman Services","url":"https:\/\/www.fmos.org.my\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fmos.org.my\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/FMOS_hori-logo_fullcolor-Custom.png","contentUrl":"https:\/\/www.fmos.org.my\/wp-content\/uploads\/2026\/04\/FMOS_hori-logo_fullcolor-Custom.png","width":262,"height":50,"caption":"FMOS"},"image":{"@id":"https:\/\/www.fmos.org.my\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.fmos.org.my\/en\/#\/schema\/person\/8fbea4ebb5130d485f32d0731efd4689","name":"commsadmin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.fmos.org.my\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a05f4bcfd9343a8f8d132e42c78c8681f5478a61135065e2d36ad22020b81651?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a05f4bcfd9343a8f8d132e42c78c8681f5478a61135065e2d36ad22020b81651?s=96&d=mm&r=g","caption":"commsadmin"},"url":"https:\/\/www.fmos.org.my\/en\/author\/commsadmin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/posts\/9935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/comments?post=9935"}],"version-history":[{"count":2,"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/posts\/9935\/revisions"}],"predecessor-version":[{"id":10014,"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/posts\/9935\/revisions\/10014"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/media\/9936"}],"wp:attachment":[{"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/media?parent=9935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/categories?post=9935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fmos.org.my\/en\/wp-json\/wp\/v2\/tags?post=9935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}