Okay, I got a situation here and need to get some advice from any Insurance sifu here.

The situation: I'm working in a shipyard and 1 of my crew dead just a few days ago. The cause of death, I dunno it in detail but to make long story short, it is confirmed that he died because of sickness. So, my boss instructed me to claim SOCSO for him but what I got from them is Dependent's Benefit by socso will only be applicable if the cause of death is because of accident.

After I found SOCSO is not claimable, I turned to the P&I insurance (a kind of vessel insurance) which covers seaman as well. But again what I got from them is: "Our insurance on seaman only covers them if they died of accident on working or job related illness. If the cause of death is not from any we spoke earlier, we will not entertain. You can try claim, but it might displease us and this will affect your premium rate for the next coming year."

After that I've consult with 1 of my insurance friend. He said that usually for all those insurance like workmen compensation, personal accident, P&I, SOCSO and bla bla bla...... They only covers death, injuries and disablement result of accident only. If died from sickness, the only insurance that can claim is life insurance (if he got himself insured before).

So I wanna ask is it true about all that? Coz I've refer here and there and the insurance policy does not give me enough info on the death benefits.

Hi shephard86, please scan the policy and email to me. Please feel free to remove out anything that is personal before emailing.

Let me go thru and I shall inform. My email is stevenung1971@gmail.com

And yes, personal accident only covers death which are accidental in nature. Yes, life insurance does cover death, be it due to sickness or accident, which is why the premium is relatively higher than PA.

Having said that, do note that depending on his/her job life insurance may also be decline to provide coverage if his/her job is too risky.

Does your worker have EPF?

Hello bro, what policy you want? the P&I 1? I don't have that coz it's kept by my boss. Yes the worker does have EPF and his job in detail is a captain of the vessel. How risky the job is I dunno la......

Hi bos. Yes the P&I policy, especially on the death/life clause.

Being a captain of the vessel is also subjected to various other risk, ie, storms, being hijacked etc. FYI a captain of a ship is class 4, considered high risk. Most likely the policy is with loading on the life.

The P&I does not have the clause on their policies, they just provide a rulebook and tell us what are the clauses that the insurance cover. I've read through the book and this is what I found:



The policy usually write only the details of the vessel insured. They'll be no clauses on it.

for your case usually its decline risk, base on my experience you could request for the insurer to accept the risk but with premium loading
which is not cheap especially covering for personal accident & medical insurance

The section you are refering to is liability in respect of seamen therefore the defination of coverage is:

The initial idea of P&I cover is to protect the ship owner's interests against claims from third parties and to indemnify him in case ship owner is liable to compensate third party losses

"Illness Injury, Death, Medical Examination

Liability to pay damages or compensation for personal injury, illness or death of any seaman whether or not on board a vessel and hospital, medical, funeral or other expenses incurred in relation to such injury, illness or death."

The above clause seems claimable, though a bit vague, especially the bold part. No harm trying to claim. That is the purpose of insurance.

This post has been edited by roystevenung: Jun 15 2013, 01:17 PM

i dont think ur crew's insurance covers dread disease illness - not sure if related. However based on the definition

"Liability to pay damages or compensation for personal injury, illness or death of any seaman whether or not on board a vessel and hospital, medical, funeral or other expenses incurred in relation to such injury, illness or death."

it did mentioned that they will/may pay for illness. BUT please check in the policy contract, did it DEFINE what is "illness". If it define illness as "job related illness", then to claim for the benefit, the dead of ur crew must be due to his/her job.

I already get the answer after asking Takaful Ikhlas and Takaful Malaysia, the answer is:
after death due to accident, my family can claim the sum assured from all policies.

Now my target is preparing RM 1,200,00.00 for my family if I death due to accident.
Please quote me Takaful Personal Accident insurance (only, not life insurance) for the maximum sum assured, at least RM 400,000.00
I want to get at least RM 400,000.00 sum assured from three different insurance companies for my Personal Accident protection.
I want minimum monthly premium so please don't include medical benefit, cash back, link investment etc, just a pure plain Personal Accident insurance as long as it syariah compliance.

Any takaful personal accident insurance agent, please help me.
Thank you.

as long as you are malaysian / not involve in manual work / dont have any dangerous sports or activity 1
can be covered up to RM1million PA under an insurer company

RM1MIL @ RM798 / yearly
RM500K @ RM458 / yearly

interested you may always PM me
Thank you

UGPM

I'm 24 this year and need a medical card with coverage to 36 diseases, any plan to intro? I'm having my eyes into Great Easthern, what do you guys think?

how

IMO, work in MNC / company that provide free entry medical card (if u can find a career that provide)..

36 Critical Illness(CI) = Expensive COST and very low probability to strike this jackpot/risk..
Use the premium cost for saving and investing to generate more income/wealth..
Age = 40 years and above, get 36CI to eliminate/reduce the risk.. Just a thought.

PM-ed

how on what??

dunno how to ask how also

Do you have existing plan?
If yes, do you mind to share what you have?

How much do you earn? coverage = 10x of annual income (Rule of Thumb)
However, it differs among individual based on their income, commitments, financial objectives, needs, preferences, etc etc and etc...


Hi,

Let's begin with Stage 1: Fact Finding

Do you have any existing plan covering areas like:
1. death
2. total permanent disability
3. 36 critical illnesses
4. personal accident
5. medical card

Is yes, do you mind to share how much coverage do you enjoy.

Only interested in PA? Do you have a complete protection?
Mind to share?

This post has been edited by wwl86: Jun 17 2013, 12:51 PM