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Insurance + investment are bad financial decisions
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amerz
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 Sep 2 2009, 09:18 AM
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almost all stand alone Health Insurance have this term: QUOTE This policy is renewable at the option of policyholder until the occurrence of any of the following:
(g)termination of coverage for all policies in a certain market and the Company withdraws this policy completely from the market accordance with the Portfolio Withdrawal Condition’.
Portfolio Withdrawal Condition
The Company reserves the right to cancel the portfolio it decides to discontinue underwriting this insurance Cancellation of the portfolio as a whole shall be notice to the policyholder and the Company will run expiry of the period of cover within the portfolio. Worst case scenario, get hit by CI and next year the plan has been stopped. |
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amerz
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Sep 2 2009, 05:18 PM
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QUOTE(allenultra @ Sep 2 2009, 03:54 PM) Somehow I do have a policy where if I being hit by CI/TPD/OAD, I will collect my sum insured but my rider attach will continue. Eg. my medical and CIWP. I do feel the extra premium paid for the protection is worth it. hmm, your H&S rider is attach to ILP? can u verify that your H&S policy writing don't have this term: This policy is renewable at the option of policyholder until the occurrence of any of the following:
(g)termination of coverage for all policies in a certain market and the Company withdraws this policy completely from the market accordance with the Portfolio Withdrawal Condition’. |
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amerz
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Sep 2 2009, 08:02 PM
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QUOTE(allenultra @ Sep 2 2009, 05:37 PM) Oops. Mine is traditional plan. H&S rider attached to it. Not an ILP. I need to read my policy to verify that, I bought HLA Premier Life for myself and my siblings.  I will try check if any of the HLA unit-linked product comes with such feature as well. HLA website seem not working properly~  Thanks, really appreciate if you can verify the renewal term on HLA H&S. coz currently I'm searching for stand alone H&S. |
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amerz
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Sep 2 2009, 08:45 PM
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QUOTE(leecy @ Sep 2 2009, 08:26 PM) I would not explaining to you what GE can offer as standalone medical plan. We have H&S plan that is quite all right. GE stand alone also have the term "we cannot renew our policy if the plan is being withdraw from the market". are all stand alone H&S have this term?  |
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amerz
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Sep 3 2009, 04:05 AM
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Don't you guys worry the worst case scenario that can happen to us? if the plan is being withdraw. am I overreacting allenultra, thanks, yup I know Pjusa making a H&S database. I can wait, there's no rush for me. Just that I notice this the only downside of standalone H&S. numbertwo, basically, that's mean if the insurer not making profit out of this plan. they'll withdraw it from the market rite. This post has been edited by amerz: Sep 3 2009, 05:25 AM |
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