As you have mentioned it, in forum, it is a place for all to share their experience and opinion, now you are implying by joining a month ago, I am a newbie trying to prove my worth to the forum and when you have 13 years lurking in the forum makes you a credible source of information? Oh com'on, did you hear yourself saying that when you type out those words?

The reason why I have the obligation to rebuke your post was because you are challenging me by putting words into my mouth. Hey, we are grown up and professionals here, at least I hope the same for you as well. When we are engaged in healthy and constructive discussion, you do not post personal challenges and expect no return challenges. I do admit I am serious in this discussion especially I find how misled some of the forumers are and this is indeed unhealthy. It is like you know about the Pyramid scam and people are happily discussing how they are benefiting from it prompting others to join in supporting the ideas while you know it is a very wrong concept, yet you refrain from contributing your 2 cents worth of opinion. I reckon this is a healthy forum as I benefited from some of the valuable views from others, I felt the need to contribute my view so that there is another side of the coin to be seen.

I have seen how my relatives suffered when they fell so ill and have to go around begging for hundred of thousand of dollar and if you are not able to chip in at least a few thousands, you are deem unworthy to be called family and trust me, this is the same person who refused any insurance policy citing that they are young and healthy. From what I gathered, you are not a complete "anti-insurance" person which I am glad, however I just do not like it when words are put into my mouth randomly be it virtual reality or reality. I do have my virtual personality as I think you do as well. It is a basic form of respect we can have for one another so that we invite constructive discussion rather than hurling useless comments and attack (that is reserved to kopitiam discussion I reckon) at each other.

I do agree with you that there are plenty of unethical agents around but it is not the company nor the product that failed but human factor. Based on this, we cannot drown the entire industry as they are good ones around as well, just that it really required good judgement on finding the right agent to represent you. I have heard even more horror stories on property agents and car agents, so does that means I stop investing in property and buying cars? Insurance investment is a form of trust building along, even for threadstarter, his/her insurance agent is still trying to help in whichever way he/she can. Sometimes there are many dimensions to view a situation, it is not really black or white in reality. There are grey areas and I do hope you all know there is no all in one policy available and sometimes ill-informed clients makes bad decision as well.

Last but not least, I find your argument on the number of complaints against the unethical insurance scams holds no valid grounds as seldom you will see those who benefited from their insurance come online to praise how good their agents are (seeing how I was deemed as a proud expat when I try to put it across how well covered I am proved these point is it not?) sharing online on positive things about insurance is rare not because they do not happen, but when they happened. It really make no sense on posting as Asian society is always starve of positive remarks on a business establishment or help rendered. However we are always attracted to negative and complaints that everyone can relate to. Time to change that do you not agree?

side note: I am not aggressively and emotionally affected when I type the above in case you do not sense my sense of humor in my posting above.

Hi, i just go through all the pages.

For me, insurance is really important. Sorry to say that i am not an agent. i am already married and have one baby boy. after my baby born, i immediately take a policy for my lovely child. This is how every father need to do. So all of us covered by insurance. i take early policy for my child because when he grow up, he already have a saving that can be used for his further study.

Please everyone, your lovely car can be insurance and why yourself cannot?

*apologies for my bad english

This post has been edited by triOz88: Apr 1 2016, 02:57 PM

sometimes people value physical property more than themselves. It's a choice different people take. We can only pop into their life to tell them what to do but it's their choice to decide whether insurance is for them or not.

Your intentions are commendable, but please do take a closer look at the tables in the sales quotation on the projected amount at age 18.

Just dont want you to get disappointed and misled to think that the policy is able to fully finance your child education.

In general a Rm200/mth premium with added medical riders and its sizzles, the projected cash values at age 18 is normally in the range of Rm25k to a maximum of Rm30k (with the assumption that the fund performance which are projected goes as planned).

If you dont mind my asking, with Rm25k (after 18 years), where do you plan to send your kid for education?

You may also ask why the projected figures are lower as compared to what you had "invested". The answer is because when you buy insurance, you are actually buying the associated coverage that comes with it. The coverage given is not free and it is subjected to insurance charges. No free lunch in insurance my friend. Everything comes at a cost.

My 2 cents here is that to keep insurance for protection and invest the rest (elsewhere).

but btw kathi, if the case was genuine. u have all rights to sue the insurance company and high chances to win. but finding the right lawyer is the hard part.

Currently going through the claim process for my sis who is suffering from leukemia.

The claim process went smooth all the way with Prudential but when come to GE, I must agree it is terrible.

We submit totally same batch documents for the claim, and Prudential released the fund in 3 weeks time, but GE took 3 weeks just to go through all document and sent the physical letter to the address which is in my hometown that far away , to us telling us what document needed.

Approached the service agent, but service agent can't also tell us what doc needed as she cannot access the info.


Hello GE, pls improve!

This post has been edited by frequency: Nov 29 2016, 11:13 PM

To be fair, you need to understand why was the letter sent to your hometown which is far away. Did your sister update her current address with GE?

This is why it is important to keep the address and contact nos' updated.

On the types of documents needed, here is a link from GE website

Living Assurance Claim

To be completed by the claimant

1. Living Assurance Claim Form - Personal Statement
3. Original copy of Letter of Authorisation/Consent (3 copies)
4. Life Assured's NRIC duly certified
5. Claimant's NRIC duly certified (if different from Life Assured)
6. Direct Credit Form (for payment direct)

To be completed by the Attending Doctor/Specialist

2. Confidential Medical Certificate (Cancer)

7. All relevant diagnostic test results or reports duly certified for individual Covered Event.
Please refer to below:
Cancer
- Histopathology Report
- CT Scan / MRI Reports, if available
- Bone Marrow Aspiration / Trephine Biopsy Report (Leukemia only)
- Blood and laboratory test report

Hope this helps

Perhaps you can call up the claim department to get the update directly if your servicing agent can't access the info. They will have the more accurate answer for you.

I am paying rm 310/month for my medical ins & invesment link. I am thinking to terminate those policies because I'm in urgent need to save up more money. I need to move my business to new location so i need speed cash. My investment will only come to maturity in another 15 yrs. About medical, paying for insurance is easy, but claiming back is hard due to all the rubbish excuses this & that. Most of the ins agent can drive luxurious cars thanks to people's premium paid by their hard sweaty money. The economy is getting very slow doesn't look promising in the soonest time. Many shops are closing down due to lack of business chances. My shop at current location, doesn't really support my life expenses. & I'm not the kaki shopping or clubbing type also, still not enough money use. Where got extra money for ins? The ins company actually "borrowing" our premium to invest on other business also, just they way they persuade us to buy making us feel like it's prone to health. My policies already more than 5 yrs. With the economy getting weak, i feel rather safer keep my money with me than giving them luxurious life. Besides if really illness/injuries come up will it be as easy to claim. When my agents try to psycho me into buy/upgrade plan they always come to my shop & be my customer. After i buy and paid for quite some time, they started get away from me & eventually become "not-my-customer". Every month paid sure will have receipt, he waited to kumpul 2,3 receipts together only send me. Basicallyi have to wait half years to get my payment receipts as proof. I feel like what the f**k, u wan me buy u always come to me, after getting wat u wan u do like turtle-speed. Im losing bit by bit confidence in insurance. Better my money stays with me than making those agents rich. To send my receipts to me doesn't even cost 5km trip.

Doesn't it feel silly when we try to claim for medical, & forced to go through all the documentation & by-form requests , after all its our own money?? We paid premium & suddenly become ins company's money pula. We want tack back we have to ask their permission. I was silly enough to trust them before. Now maybe should seriously think to stop wasting money.

saving money in ins investment basically the same with u saving by ur own la bro. Even if reaching maturity u get back the money, how high is the "interest"? Just the same with bank interest or maybe higher a litlle bit only. Ur money is alot safer when it's with you. Ins agent is like melayu said, "hangat hangat tahi ayam" only, when they get wzt they wan from u, u will never see them come find u dy, u just be silently paid them premium & they will be driving merz, harrier, audi with ur hard earned money.

First off, I am sorry to hear that your business is not doing so well and I hope you find a solution soon to overcome this difficult times.

Moving on, it is never a good idea to pay to an agent as there has been one too many cases of the premiums paid were not channelled to the insurer.

It is better and safer to do online transfer direct to the insurer, credit card or auto debit.

On the claims wise, please be specific on what are you trying to claim for, was it for hospitalizations and for what reason?

Most agents here can help but we need to understand what is the problem to guide you for a solution.

Insurance even though it is an Investment Link policy is for protection, not investment. The insurer indemnify you against specific risk, eg hospitalization/death etc.

There is no free lunch in insurance.

if that's the case, just bought what you need. for example here perhaps just a standalone medical which is not very high premium. i understand your situation here. when insurance agents have more customers, they also need to serve other people as well. for your case, i think as long as your agent answer your call, reply you and answer whatever questions that you have, when you need help your agent tried to help, i think that's good enough. agents are also human and have things to look into also. imagine one agent has 100 customers to look into, then wanna hand receipts to all customers already take a lot of time, not to forget other jobs that one agent need to do.

actually, is there any bad experience that you or your family have with insurance company? or maybe bad experience with your agent (asides from the one you mentioned above regarding the receipts)

i do agree with you that saving money in ins is same as saving by our own in terms of the amount. i always tell my client to treat it as 0%. end of the day even if u get more, mayb it just cover the inflation over the years. thats y i always emphasize on the financial risk covered by insurance plans.

If everyone truly understands how the insurance policy works no one will get insurance policy. First of all, insurance companies are there to make money, not to help you so don't expect them to help you unless they made money from you. Insurance is like gambling, what are the odds of you claiming more than the premium you paid. My wild guess is that insurance company only pays 10 sens for every 1rm revenue paid. Maybe a 20 sens for operating cost, 30 sens for commission (your agent) and 50 sens profit. Of course they have a big cash pool in case if a really bad luck like a plane crash where there will be a lot of easy to file claim. Just from your experience can you imagine how much time and effort insurance company will pay just so you could not make a claim. That money could have just been used to pay your claim, but then again fraud is everywhere. Put it simply your chances of getting the most of an insurance policy (meaning claiming more than you paid for) is probably only in the 1%. So if you think your that lucky, then go get insurance, if not, better just save and insure your self.

Actually your problem is not the insurance company. It’s your agent.

How come your agent didn’t advise you and assist you? For everything involving insurance there’s always procedures to follow. Which is why agents exists, cause they know all the procedures and we don’t. Of course some agents are not too detailed, and some are just part time which is bad.

My own experience, agent told me which hospital to go, request for which specialist for the case (doctor whom the agent knew is experienced and also no problem for GL).

I pay my premium with credit card to the great eastern company iPad apps.

Anyway if you need assistance you can give me your contact I can ask my agent to call you, since I’m GE too.

When I was a younger I think insurance is unnecessary. But now as I’m older, paying 300/month for almost 1M coverage is damn worth it. My gym membership also 180/month. Where else in this world you pay and get upto 2000x back? Of course, I hope I will never need to use it, but if I do, at least I know I’m covered.

Why you don’t change agent ah? Lol.

My agent will meet me when I call. And when need something simple like buy travel insurance I just call and transfer money.

When my flight delay, agent come collect the airline delay letter from me and file claim for me. I don’t have to do anything also??

Wah why all of you so weird. I thought it’s normal for the agent to service me, why all of you don’t get service one? Hahah maybe I damn handsome, or my agent damn good

This post has been edited by Jason: May 11 2018, 12:37 AM

when u are not happy with ur agents, please complaint to Bank Negara....they will investigate and can affect their commission and persistency...or score card balance...

Hi there I have a great day and I will be in the morning and I will be in the morning

This post has been edited by tanchong: May 27 2019, 10:06 PM

insurance is TOTAL 100% scam ! Especially from Great Eastern !!! Bloody scammers !
I paid for 13 years monthly 420myr and totaled out of 69000myr...

When checked, the policy is as cover as you pay with zero return...

So if i surender now i get 0 Myr...

Scam guys scam....

I gonna cancel the useless insurance !

I'm also a GE policy holder. When login into GE's website it shows the policy value and of course it's lower than what I have paid over the years.

My policy is an investment link type called smart protect essential.

Just for my learning, what type and name of your product was?