1) if i remember correctly, room & board is 150? is that enough for the hospitals that you might be going to?
2) is 2000 a year a comfortable amount for you to pay?
3) the other guy mentioned a good point if you understand what he's trying to tell you. which will indirectly lower down your expenses, and to your advantage.

to simplify... assume features of all medical cards out there are the same. the difference being the coverage amount, thus resulting in less/more insurance premium.

Room & Board 100, 150, 200, 300, 400? this will determine the type of room, whether shared >2, or double, or single.

if you choose higher room & board, it also comes with higher annual limit, and lifetime limit. medical cards do come with limits on the amount claimable.

For your comparison sake...

My policy reads ... this was in the medical card.

So ya, if they cancel the whole portfolio, then my medical card kaput.

Supposedly life insurance companies usually has guaranteed renewable feature. General insurer usually on a yearly renewable basis. Whether life insurance company is doing it due to regulations (to guarantee renewable, etc), i have no idea.

This post has been edited by adele123: Jan 29 2015, 09:05 AM

Additional note: it is for insurance companies to assess whether one needs to do medical check up. Also... You might want to consider medical card with deductibles. And possible auto conversion to no deductible version upon retirement age. This way, you pay alot less during your working years. Since you are covered by companiy's insurance.

If you know what i mean. Lazy to type using ipad...

i didn't double check. what i meant was life insurance companies usually guarantee renewal on medical card. wasn't specific enough.

was typing with the ipad.

actually one must be specific on the insurance type. example MH17 case, which i don't know what it's being categorise as but it seems to fall under the category of terrorism, act of war which is not covered under MOST if not all, personal accident insurances, which includes travel PA. now but under life insurance, it will be paid, because life insurance will pay regardless of one dies (assuming no fraud, etc) EXCEPT suicide within first 12 months.



Also, medical card doesn't exclude extreme sports. well, at least in the case of allianz, AIA. Usually all insurance companies are the similar, if not exactly the same. Not promoting, just happen to have two brochures lying around.

As much as I support freedom of speech, this particular forummer has been around complaining EVERYTHING about insurance companies with no ABSOLUTELY NO objectivity in his statements whatsoever. It’s totally a round-about of non-healthy discussion. So, maybe just leave it at that and actually help forummers who have actual questions.

Still want to discuss…

Yes, government hospital is an option. but we cannot have EVERYBODY flocking government hospital... it's not possible... government spending increases, we as the citizens loses as well. because instead of money going into development, it goes to expenditures like this. My rationale is logical right?

If one really so disgusted with insurance, yes, self-insured is possible. You act as your own insurer. But why insurance companies exist? To diversify risk… they want to make money like any other companies in this world. Not a charity organisation.

No point discussing further round and round on I was not covered, or I was covered and I didn’t have to pay xxx amount.

not about encouraging and discouraging... my simple point is... we can't have EVERYBODY going to government hospital.

so i made my choice, i bought insurance, i go for private. because i can afford it. then others who really can't afford, can seek their medical treatment...

from my personal experience la, they will probably ask questions about it, but as long as you declare which you have to, it should proceed as normal.

unless you are super unhealthy. but as you said, clear. so, good things, dont need to worry about mentioning. you are obliged to answer the questions truthfully.

it may attract questions, but underwriter also won't ask 10,000 questions.

to me, not over 5 years... 4 years and 3 months? i think rationally should submit la.

Erm... hypertension and diabetes is the norm nowadays also. to me, i'm not an underwriter, i also won't load or anything. funnily, my dad has lung cancer too... but the question asked if he contracted before age 60. so my answer is NO. which is the truth anyway. so ya...

honesty best policy. as a person and to an insurance company too... to avoid inviting problems in the future. it is weird that one who is honest invites more question and a dishonest one won't invite any but... in the spirit of uberrimae fidei (utmost good faith) declare lo...

Er, no offence, how much of the thread have you read?

some of them do medical exam because of company's benefit, personal reference, etc... so once they have gone through the medical exam/check up, THEY MUST declare because it's one of the questions insurance companies ask.

When you bought, the insurance company will assess if a medical exam required.

Hmm... diabetics... that's the tough part. plus at age 62... also tough... to get a medical card, can try but let's not be hopeful... maybe the experienced agents here can give an opinion. since i'm no agent and no underwriter.

Upon submitting your application for insurance, it is for insurance companies to inform you if you need to do any medical examination or not.

could be very simple ones without even any chest xray or blood test. depending on the sum assured purchased and other circumstances.

You did not mention any explanations on what you bought, how much spent or what's your other insurance planning... But then anyhow looks like you are not interested.

There's a possibility of full refund. after all, it's not like insurance companies don't know their agents mis-sell. of course, to 'win' in a dispute, one should at least have good back up and reason.

i've heard whereby agent refunded to client to hush it from insurance company (but whether this is really true i have no idea but i'm definitely not surprised). You can lodge official complaint to the insurance company, BNM, FMB, etc... i mean, even insurance companies don't want to reach that stage, if they really believe the agent mis-sell. Too much questioning later on by BNM as well.

or you can just terminate, lose some money... and take it as a lesson.

This post has been edited by adele123: Feb 3 2015, 06:46 PM

if i'm not mistaken, EPF and insurance are the only exception. bank cannot touch.

This post has been edited by adele123: Feb 5 2015, 02:41 PM

life insurance yes... regardless where one person dies, it will still be paid... insurers don't discriminate if someone died in syria or something.

but not medical.

1) agent could be lying. pretty common tactic.

2) depending on what type of insurance of product, i have heard of instances on limiting how much to sell, abit like closed-end fund style. only so much available. but those i've heard of is usually those 'shorter' term insurance product.

3) limited offer period to certain insurance product is not rare, though not exactly common either. i think someone legitly mentioned GE offered some plan for limited time only. no health declaration needed, etc. the promo isn't exactly a reduction in price like sales in a supermarket though

that's not a reason to discontinue the policy. please continue your policy as it is, unless it's something you do not want. change servicing agent, or treat it as agent never exist. you will survive without an agent.

i dont know pru medical card... but i guess this doesn't seem to matter. assuming both policy is at 4k each per year and the same thing, one should cancel the 2nd one. reason being that the 1st policy, all the premium you are paying will go fully into your account. no more unallocated premium, ie all the money goes to the investment. where as in the 2nd policy case, you still have deduction that doesn't go to your investment because of commission, etc.

simply... if you cancel your 1st and keep 2nd, it's NOT advisable. being is that your agent earn more commission.

also, i would suggest you make an official complaint or just threaten your agent that you will complain. this is very obvious your agent lied so to get you to sign for 2nd policy... if you upgraded 1st policy, no commission for him. if you buy 2nd policy... more commission for him.

also, that bolded part... it doesn't just affect the agent profile. if i'm not mistaken, they don't get commission from your 2nd policy if you cancel your first one immediately or within a certain timeframe. something like that. that's why the agent ask you to hold the 1st one, keep for another year, so he can continue earning commission from your 2nd policy. in short, your agent sucks.

edit: i hope i explain well enough. i know what happens, just not sure if my explanation is understandable.

This post has been edited by adele123: Feb 22 2015, 10:10 PM

if you are looking for a sound opinion, please ignore the other guy. he's regular who's totally against insurance with no objectivity.

on the other hand, the way you ask the question is also kinda weird.

Remember that people who are working in claims department are human too and probably kiasu too. remember that as long as YOU know the t&c and you DID NOT hide anything about your health condition in the beginning, insurance companies are obliged to pay your claims. remember, insurance contract is legally binding. of course, there are fine prints but you know your part and not just believe 100% of what agents say.

the down side there are insurance agents out there, who are less honest because they benefit more IF you buy more, because commission is % based.

and insurance doesn't need to be expensive. 200 p.m. can be quite a big sum for some people. just know what you need, how much you can afford and it can be less than that amount and still be adequate.