Terrorism not covered by policy (Travel Insurance)

http://www.thestar.com.my/News/Nation/2014...ade-to-premium/

If within a week, most probably the case is still under review by the Underwriters or in the midst of getting approved.

You may call the agent to cancel and get full refund of the premiums paid.

You may also call the Customer Service if the agent is being uncorporative about it.

Anything that is foreign in the body after the policy has started over the 120 days is covered.

If it was before the policy started, then it is considered pre existing. Not covered.

The insurer may contest to the claim if the claim is ambiguos if it was within the contestibility period.

No. If there is clear evidence that the case is a pre existing prior to policy inception even if it had surpassed the incontestable period, the policy may be null and void.

Investment thread --> https://forum.lowyat.net/topic/3186068

Here we are selling insurance, meant for protection, NOT investment.

PruBSN is Syariah compliant (for Muslims) while another is not.

No it will not. You can get those corrected easily. Just call your servicing agent.

Go to the website of the insurance company and call the Customer Service. Alternatively you can also walked in to the counter to get it done.

You can also ask them to get you a new agent.

It would help if you tell us the insurance company that you are insured with. There are many agents here and I am sure they would be able to help you.

For Prudential, the waiting period, look at the attachment. For Critical Illness, it is 60 days and for Specified Illness, it is 120 days from the date the policy is in force.

Accidents is covered immediately upon the policy is in force.

The list of Specified Illness is mention under the Exclusions.

As you may already know, the insurance is a contract and in any contract it cannot be one sided.

Without the Waiting Period, people will not take insurance when they are healthy. We might as well wait till we got cancer and then only take insurance.

Rest assured that once the Waiting Period is over, the cover will start. I had clients making claims 8 mths after policy in force for kidney stones, bill Rm32k & slip disc 7 mths after for Rm42k.

This post has been edited by roystevenung: Aug 17 2014, 09:14 AM


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As long as the condition that is being claim does not fall under Exclusion and Waiting Period, then there is absolutely no reason why the insurer will decline the claim.

Do note I mention Exclusions, which includes any pre existing illness.

If you had any medical condition that is of significant fact that may impact how the policy is being underwritten and had it declared, then you should have nothing to worry about on the future claims.

Piece of cake if you study. If you cant pass PCE, how can your clients entrust you with a LIFETIME policy?

Dapat credit for both PCE & CEILI mark forgot liao

In my opinion insurance can come later. At least after you are more stabilized in your job.. aka confirmation.

Buying insurance is a long term commitment and you need to be financially stable prior to commit to a lifetime insurance plans.

Learn to save and invest first, unit trust, stocks, short term FD for parking emergency funds.

Once you got the investment portion in place, only look at insurance.

I may get flame by agents here but what else is new

You may ask wongmunkeong or pinkspider on various investments strategies

Rule of the thumb, for insurance, no more than 10% of your income. If you spend too much on insurance, you will not have much left to invest to make your money grow.

It would be better if you invest and using the returns for the investment to finance your policy.

Ini soalan ke cadangan?

Even if the Insurance company has the feature of an Early CI, it does not mean that one will need to get it. Well unless the parent is worried that the 4 year old will develop Early CI symptom at young age?

A tip: If a small child develops Early CI symptoms, most likely it is a CONGENITAL condition, and bummer, Congenital conditions are not covered. If you understand what is CI & Early CI, it rarely occurs in stages when we are young.

Also, adele123 has also ask why the need for RM100K life on the child? The child has no responsibility towards the parent. A minimal, RM 20K~RM30K (enough for the funeral) should suffice.

Better to save the premium on the child policy and buy more life cover for the father instead (if he had not done so).



Buying premium waiver for both the father and child makes better sense.

Should the father is death/Total Permanent Disable (TPD)/Critical Illness (CI), the policy premium will be waive until the child has attained the age of 25.

Should the Child is Total Permanent Disable (TPD)/Critical Illness (CI), the policy premium will be waive until the child has attained the age of 80 (for the medical) and most likely when the medical ends, one would prefer to cash out the cash value.

No, if it is under personal, the maturity or sum insured is not subjected to tax. However the increase of income is subjected to tax.

If it was under the company, then the maturity or sum insured is subjected to 20% tax.

Any path you choose also need to pay tax

This post has been edited by roystevenung: Oct 14 2014, 01:57 PM

If you were to surrender a policy below 2 years, the agent's high fringe & persistency will be affected. If it was below 6 years, then the agent loses the income. Any policy above 6 years, the servicing agent will not earn anything.

That said, it is up to you whether you want to surrender the policy. It is your money, not the agent's money. You should not be worried on the implications on the agent.

Do note that if you are surrendering a policy that comes with cash values, the cash values will be paid after minus any premium owed (if any).

In addition, if you were to take up a new policy, any hospitalization/medical history will need to be re-declared subject to underwriting. Apart from that the Waiting Period will start over and the new agent will get his/her commission.

This is why it is NEVER beneficial to you as a client to surrender a policy and take a new one.

Take a wild guess who is paying the new agent's commission?

This post has been edited by roystevenung: Oct 26 2014, 09:56 PM

At age 50, it would be money wise spend on the medical card rather than PRUcancer.

<< PRUcancer Brochure >>

It can be affordable if you can add in a high deductible to it, example RM3K or RM10K deductible.

This is nothing new as even the Global International Insurer practice some sort of deductible at older age to bring down the insurance charges.

How old is the person (age next birthday) & gender?

This post has been edited by roystevenung: Nov 1 2014, 11:28 PM