The process of claiming from multiple insurer (up to the maximum bill amount) has been explained above.

In total there will be two receipts issued, one to company insurer and another issued to the client upon discharge (of which the client will need to pay by cash before filling a claim to his personal insurer).

There is no such thing that "claims people is/should have common understanding" as that is not the way claims works.

Without the original receipt the claims dept will not entertainment any payment as that will open a loop hole that the client may claim from multiple insurer on the photocopy/CTC bill amount.

HTH

Since it has been deducted twice, the policy should be effective.

Your best bet would be going to the AIA office personally with your bank/cc statements.

They should entertain your request with your IC as verification.

Perhaps something happen to the agent?

This post has been edited by roystevenung: Jul 24 2015, 11:33 AM

The NCD is tied to your name and not the car.

NCD is on your name, not the car.

Since your NCD is 55% when you buy a new car, you are entitled to 55% NCD on the new car.

Your best option right now is to talk to Allianz and inquire whether you are able to upgrade on your existing medical card and _NOT_ replace it with another medical card.

You may check out my blog << HERE >> on why you should not cancel your existing policy just to get a new one.

1. Please ask the AXA agent to explain how he will "settle" the bill if within two months of replacing the policy you need to claim for kidney stones which costs Rm30k.

Please get him to write a letter stating that he will "settle" the bill if that happens. If it was an offer by AXA to waive the waiting period, then please get an official letter.

Everything has to be in black and white.

In addition, since you have been paying for 4 years, starting a new policy all over will mean that the units allocation (to accumulate cash values) and the agents commission will start a new. Agent's commission is only up to six years.

Suppose you were to choose the upgrade option in Allianz, the allocation period will only start anew for the upgraded portion and not the entire policy itself.

Ps. The only way to pass the waiting period is to maintain both policy running concurrently.

The claims is paid by the insurer, not the agent. Therefore when in doubt, it is best to get a black and white from the insurer, not the agent.

2. You may google "incontestibility period" for a better understanding.

In layman terms, provided there is no fraud (during health declaration to get the policy), and the policy is over 2 years, most insurer will just pay the claim.

Suppose you were to get a policy and immediately after the waiting period is over the claim starts, it will definitely raise suspicion that it could be a pre existing health problem prior to the inception of the policy.

3. Whether or not you did any claim before is irrelevant.

Getting extra coverage means adding more risk to the insurer, therefore the insurer will have to scrutinize all applications.

I am just curious as to why you are reluctant to look at upgrading in Allianz instead of insisting to replace the policy with AXA?

As mentioned earlier. please get in touch with your old agent and upgrade from him/her.

If its an upgrade with the same insurer, the agent only earns commission on the upgraded portion only.

Most of the Equity funds has been down since early 2015.

Same goes to most funds out there.

However when the funds are down you are actually buying more units.

<< Insurance 101 >>

If the premium is fixed, why did most of the insurer ask for an increase of premium last one two year?

No, all insurance work on the same principle based on the attained risks. As we get older, the risk of claiming gets higher and therefore the insurance charges will also increase.

The premium is not fixed and it is not guaranteed. It is mentioned in the Sales Quote very clearly.

You may want to take a look at the insurance brochures and check the insurance charges based on attained age group.

Do note that the insurer reserves the right to increase the "insurance charges" - mostly the increase is based on claims ratio experience in order to maintain the insurance port folio.

As we get older, the insurance charges will go up (irrespective of when you get it) and the variance of the insurance charges will be deducted from your cash values (ILP) if the premium paid is insufficient to cover for the insurance charges.

Once the cash values are depleted and it is insufficient to cover the higher insurance charges, you may need to pay a higher premium if you want to maintain policy/medical card until age 90.

This is also the reason why plans that does not accumulate cash values - there is an increase of premium say once every 5 years age band.

I will leave the GE issue to other agent.

Please PM to me your PruLink PA rider policy coverage detail (snap a photo) so that I may advice on what can be claim.

Understand the contents of the policy and whether you need the coverage that comes with it. If you still need it, you don't have to worry from whom it was bought.

The coverage is provided by the insurance company, and the claims are not paid by your aunt or her friend.

If you are having phobia to meet an insurance agent, you may ask your aunt to explain to you the coverage or deal over the counter with the insurance company before deciding what to do.

As long as you know what you are buying and don't need any servicing, it shouldn't be any issue.

However, for medical claims which may requires a lot of after sales servicing, most insurer will still assign an agent to you.

Always remember to inform the people you nominate where to find the policy so that they may dig it out in the event of a claim. Same goes to EPF.

No harm in getting quotes for both options (buy from two insurance company or all in one) before deciding which is best for you.

If it is able to give you best bang for your money, why not?

Term life pays a lump sum of money to your beneficiary in the event of untimely death or total and permanent disability for a specific term, say 20 years (or up to the youngest age 25).

You may choose to nominate an adult whom will be the guardian of your kids if touch wood happens.

Also be reminded to check your EPF beneficiary while you are at it.

A round of chemo costs in the range of Rm250k to Rm300k, but like Cherroy says it all boils down to affordability.

No point to get the medical card if she is unable to pay the premium.

Life is a little bit unfair at times but one thing is for certain is death and taxes.

^ Whether the condition will be Excluded will be very much dependent on the type of surgery being perform and the medical condition.

The best course of action is to try to upgrade and if you are offered with an Exclusion on that medical condition, you may choose not to take up the upgrade and get a new policy (from the same or different insurer) with the Exclusion imposed.

Hence if there are future claims that falls under the Exclusion of the above medical condition, it is able to be claim from the old policy.

Any claims that dont fall under that medical Exclusion is claimable under the new card.

Of course it will mean maintaining 2 medical cards and boils down to your budget.

Yes, if you were to get admitted to a non panel hospital, the medical report is not submitted directly to your insurer.

This means that the insurer has no idea as to why you were admitted for apart from the bill that you had submitted.

You will also need to get the discharge summary, itemized billing, police report (if any), medical or investigative reports such as blood test results (if any) for the claim.

That is why it is easier to get admitted to a panel hospital.

Also if you want to claim from multiple insurer (up to the maximum of the bill), you will need to CTC the supporting documents.

For the variance bill that is not paid by the first insurer, the bill submitted to the second insurer must be original.

You can claim from both medical card, up to the maximum of the bill. For example if the Company Med Card gives you RM30K annual limit and the bill is RM50K.

You can claim RM30K from the Company Medical Card and the balance claimable from your personal medical card.