Last week, on TheStar, there`s this article on Insurance loopholes

According to the Insurance officer, "disclose your risk, your sickness, your symtoms, let us share the risk with you"

sounds good right? think again...

My brother in law whom suffered accident with steel implanted within the leg bone was rejected by ALMOST all insurance company. Since they share same database with hospitals and all the insurance company. THe agents said they willl insure everything but the leg.

buying insurance? ask properly what is not covered and being calculative and skeptical is more beneficial to you.



source: http://thestar.com.my/news/story.asp?file=...8556&sec=nation

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Added on September 18, 2010, 10:54 pmthis is the dilemma that lesser mortals felt..

I have only one piece of land. What should I do?

a) if I keep the cows, I`ll have beef and milk, but beef after few years;
b) if I keep chicken, I`ll have meat as well as eggs, (lesser time with lesser meat)
c) and so on...

same goes to insurance...

IF I were left 2k after expenses and I ahve saving, investment and insurance in mind.. which should I go for? being invested and not insured? being insured and not invested?

which yield more fruits?

This post has been edited by Awakened_Angel: Sep 18 2010, 10:54 PM

read my story regarding my brother in law.. this is what I learned...

They will protect you kaw kaw IF your background is SAFE....

say, IF you travel on flight 6 times a week and you want to buy life insurance on flight compared to a person whom fly less than 3 times a year.

the insurance will insure who more? you or the latter dude?

you travel 6 times a week, that makes your probability on risk as 6/7. That is more than 90%

so, do you see the light now?

I mean, I buy insurance cause I know my risk is high and want to be insured, but they refuse to insure me due to my high risk.

this was being told by the insurance agents...

else how do they know that you are high risk and last year and you try to apply for another company which suprisingly get the info faster than you blink your eye?

sorry... I meant share info... not as in using one server..

This post has been edited by Awakened_Angel: Sep 19 2010, 11:38 AM

almost everything. can you imagine how the world could be if all the database is merge into one system.

Education results, your blogs, your medical? etc

I agree... I knew this... jsut that, I cant get over my self with the RATE/RATIO

try... I dono who you are anyway.. unless LYN management care to share your IP with insurance com

My guts tell me that you are an insurance agent right?

talk about my mother`s case whom purchase insurance with a RELATIVE that claim she can FULLY(which mean 100%) withdraw money after 21 years which mean when I am 21. then during that year, I went to AIA office and try to redeem the money. guess what? they say you didnt read meh?(how am I suppose to read when I was an infact ) it says you can withdraw as early as 21 years, but if you withdraw now, you can withdraw less than 50% only,

i asked her, when can I fully withdraw? when i am 100 years old


I see. I purchase insurance (life and medical) from an old agent(whom is more responsible compared to young ones whom aim to earn)

I know the designed system is to "help" people while making a profit. but some agents or officials ruin it. Let me shared to you another story of my friend

Her dad died from an accident. And according to papers, he is able to get 100k compensation. But in the end, the mother obtain less than 50k. Why? according to the company, the dad`s age limit has reach retirement age and has less responsbility & commitement

my friend`s mom only receive the sum after 10 long years



mind sharing? i am not familiar with insurance as agents get irritated when I asked too many questions especially my friends who are agents. plus their web do not contain detailed info

This post has been edited by Awakened_Angel: Sep 19 2010, 03:35 PM

Ohh.. MRTA... that sounds familiar...

any stipulated terms and conditions?

e.g say I purchased an insurance for my medical and it is stipualted that if I were diagnosed with cancer(any type) then I would be compensated. But normally, many agents refuse to disclose the details. e.g how it will be legitimate or illegitimate for the compensation to take place

Thank you. But frankly, I was denied of this booklet that you mentioned

For example, when I looked at the detailed, I felt that its not worth for me. That is why I only purchase Life and medical.

e.g. medicplus which give RM 50-100.00 per day for staying in hospital(lodging, basic amnesty exclude surgery). As IF I cant afford 50-100 aday.

e.g. a parent whose unborn baby was admitted to incubator for about RM 1,000.00 perday and you think RM 50.00-100.00 is sufficient?

and the total annual accumulation is only RM 10,000.00(max)

and how long does it take for liquidify the compensation? month or years?

lets say, only private hospitals are capable of performing such surgery? A Dr in a private surgery told me this "make sure you have enough cash in your bank before signing in this hospital(Private-cant disclose LAA), else face legal action

this amount that you mentioned is per ad hoc basis or accumulated.

this claimable amount is based on percentage calculation or anything that you can claim?

I bought it... after that, only the agent told me that I need to PAY FIRST medical fee then only claim from them...

I said.. IF I GOT MONEY to pay FIRST, I wont buy from you loo... he kept quite....

Imagine this... you met in an accident, need surgery or die, RM 100K... you got no money, call the agent, he say, you pay first, then take the bill to company and we claim for you

Panel hospital in Kepong, you met accident at Seremban? drive all the way from seremban to kepong?

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Added on March 23, 2012, 12:06 pmgolden rule, dont withheld information from them, else they pusing when come to claim... and again, dont look for young agents who drive big cars... they are out for fast money and commission

This post has been edited by Awakened_Angel: Mar 23 2012, 12:06 PM

example dude... example..... what if not available

example..... case scenario of IF

IF is their best weapon..... and we lose to them in term of IF.. they got the best actuarial sciencetist to make sure we lose the battle of IF

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Added on March 23, 2012, 12:12 pmanother rule is .............when they say got this got that?

ask them to SHOW and EXPLAIN what is say in the contract or policy...

not some TALK COCK and got include everything

This post has been edited by Awakened_Angel: Mar 23 2012, 12:12 PM

No... not my frustration....

always, I bought insurance and I see insurance as government... they hardly there when we need them, but are always there when they need us(to purchase)

YES... typical tag line...

for me, what will happen if I buy?

yes.. those three lines equates to insurance agent`s luxury and high income by selling insurance...

make your success happen by joining us, dont wonder, dont watch, make your first move, join insurance...

My hometown friend who was an agent ask me to join his MLM insurance.... and yes, he mentioned above three line...

again..... what does above three line have to do with I buy insurance?

yes, I bought insurance as well, from OLD insurance agent.. a nice chap... he tole me, dont trust me, dont trust company, dont trust other agent, they can lie to you, trust the policy and contract, know them, once you sign them no one can lie you....

again, not many young agent are so keen and so honest

example dude.. example............

was told by my agent, never had an accident yet(touch wood)

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Added on March 23, 2012, 4:55 pmsorry, no offense to agents here, but to others, INSURANCE is like a business, any business, they are out for profit, not charity or churches or temple or masjid that help you with no question asked...

This post has been edited by Awakened_Angel: Mar 23 2012, 04:55 PM

H Roy,

I have been approach this agent to this treasure wealth thing plan. its like this

pay RM 10,700 premium for 5 years and enjoy a 5% per annum(for 20K, NOT 53.5K which I paid)

and then after sixth year, I wouldn`t need to pay anything till 20th year.

on that 6th to 20th, I a fixed 3% per 6month(again, this 3% is based on 20K, not 53.5K)

moreoever, am entitled for 5% which is based on market performance. ESTIMATED..... on book.. pay 53.5K in 5 years and get 110K after 20 years

am looking for another plan for investment plan.... got myself medical card & life insurance

what say you? is this ILP a good deal for investment basis with capital gain... frankly speaking....

I am a male with family(1 children) already possess a medical card and life insurance... am looking for a retirement plan... came across this great eastern retirement plan.. any review?

regards