Sifus-Sifus sekalian,

First of all, I'd like to thank everybody here for contributing information, ideas and discussion for this thread, it really really help a lot.

I took up insurance a couple of years ago without knowing what is covered and what is not, and have no idea what I'm paying for.

I need your advise here, I have 2 insurance policies with, but I would like to start with my first one (ILP, I draw out the detailed below from e-Connect site, so most probably GE insurance agents can dicypher the information below):-

Total Installment Premium: 150.00 (Pay monthly, I was told by my agent that the premium payment stops after 14 years)

Details as follows:-
--------------------

GREAT PROTECTLINK INSURANCE 100,000.00
CRITICAL ILLNESS BENEFIT RIDER 100,000.00
IL-HEALTH PROTECTOR 200.00 <- this guys comes with my car-plate registration number attached to it

ILP FUND DETAILS
Fund Name Fund Units Price Eff. Date Bid Price *Fund Value Apportionment Rate(%) Fund Due Date
Lion Strategic Fund 824.48 27/08/2010 1.56 1,289.49 100.00 13/09/2010

POLICY VALUES
Surrender Value of SA 0.00 Net Surrender Value 0.00
Surrender Value of RB 0.00 Net Policy Loan Value 0.00
Surrender Value of TB 0.00 *Total Investment Value (for ILP only) 1,289.49
Gross Surrender Value 0.00 Accumulated RB as at 0.00

Alright, the data above might be a little scrambled, hopefully some GE agent will be able to make sense out of this, my questions are:-

1. For monthly commitment, am I paying too much for a month for the above?

2. Is the coverage sufficient?

3. For the 'investment-linked' portion, does it look good? (Well from what I read so far, investment-linked doesn't really cut it out..)

4. Can I restructure the premium (to be cheaper) and allocation so that I adjust the sum assurred to be higher or something?

5. Any other information I need to be aware of? I tried to reading the darn policy document...can't really understand much though...

If there's anything, I willing to meet up with any the agents here. Basically I need more information, more comparisons and options. Much appreciated guys.

Thanks & regards,
Z Yuan

Thanks for the prompt reply!

For 2:-
$100,000, is this sufficient for any operation and hospitalization, I mean for the current medical trend in Malaysia now?

For 4 & 5:-
How do I find the rider portion in my policy? Is the 'investment-linked' portion's the rider? I'm just thinking if there's anything other that the medical benefits and IL portion, I thought of taking out (hopefully can decrease my premium a little)

My current servicing GE agent haven't been turning up lately. I do some spend some time on the phone with him on asking him to explain my policy, but the explanation didn't really drill into my head. Plus, my credit card for auto-debit expired, I wanted to meet him up so that he could help me update my credit card details...he hasn't called / turned up yet...=.=;

-- Z Yuan

500K, is this amount necessary??

Alright, another thing for this Life insurance, what am I suppose to look at? What's the main purpose of life insurance and what is the expected premium like?

From what I'm thinking, is there any policy that can do the following:-
1. If I die, a natural death / accidental / CL / went missing (probably die from earth quake, can't recover body), this policy would be pay x amount of money to my nominee? (Let's say pay to my wife or dad)

2. If the above happened, the policy would able to cover my outstanding loans and debts, don't have credit card debts though, but house loans most likely

Would a typical life policy able to do this?

All comments are much appreciated!

-- Z Yuan

Sifus-sifus sekalian,

I have a problem here with insurance company x and I would like to get some opinions from policy holders and insurance agents:-

I bought an medical insurance policy for my mother. My mother is kind of old, so the premium is quite expensive, of course before the policy was enforce, a medical screening was done and submitted for approval. 11 months down the road after the policy is enforce, a checkup revealed that my mother has contracted Hep-C.

So in order to do the claims for the treatment, my mom has to be hospitalized for one day and post hospitalization jabs can be claimed. The f*cking problem with the f*cking insurance company right now is:-
- it's been 6 bleeding months and the investigation is still 'going on'...as of now, the the underwritting process is still 'on going'

- the first batch of medical bills (3 months) has been submitted for claims, since I can't get confirmation on the first batch of bills, I wasn't able to do claims for the second batch because hospitalization is required

- I've chased my agent countless of times. She said: "wait, be patient" or..."this needs about 2 weeks to process". This lame excuses has been reused countless of times

- I've completely lost confident in this imbecile agent (who also sold me very lousy medical policy), and I decided to follow up the claim myself with the insurance company. (you just got to do everything yourself...initially, I submitted the claims to her and she said she'll settle for me, I think there's a lot of delaying on her end as well)

- as of lately, the investigator fax document to my mom, wanting my mother to acknowledge and answered a few questions before proceeding with the underwritting and decison making process. I've fax the document on 2nd November and I was asked to for one week. So today I called in to enquire the status. The customer service clerk check system and told me that the fax document was scanned into the system 4th of Nov, and I need another one week to know the answer!

This
is
f*cking
ridiculous.

I'm very very sorry for the swearing because I'm in a terrible mood...okay guys, here are the questions:-
- If I want to make a complaint to this insurance company, where should I go? How should I go about? Or I pull MCA thing? (don't think the MCA thing will work though)
- Does it make a difference if I march into AIA HQ and make a big ruckus?
- Can I change my bloody agent?
- Can I lodge a complaint against my agent?

Thanks,
Depressed Dude

Oh yeah, I ter-reveal the company, darn it. No GL issued. I was told by my agent that go to hospital do the treatment first, claim later. Have any agent(s) out there had experiencing handling cases that are pending in "investigation" for like 6 months?

From what I gather, I'm not only the horror story here...

This post has been edited by simonhtz: Nov 10 2010, 10:19 AM

Private hospital, SJMC. From the day I received the bill. I pass everything to the agent to settle it. But then again, she came to me a couple to get more details, there was historical medical report needed, which clinic went to in the past 5 years or something, etc etc.

From what I found out, Hep-C is something viral that stuck in the body for years...what the investigators are trying to prove now is that my mother contracted hep-c before the policy was bought (insurance doesn't cover pre-existing condition). So for worst case scenario, the investigator might call up clinics and hospital everywhere to get medical record or some sort of prove...which I think they did that, or else, how come the investigation took so long?? This is what agent stated this as a "special case".

As far as I remember, my mother's previous blood test and check ups are all okay (If there was a problem, doctor could have advise or something). Even before the policy was bought, AIA request my mother to do a medical checkup with panel clinic to get report. The panel clinic diagnosis and checkup was simple. No blood test.

Another thing why I'm so pissed off is that, since I've been following up with both my agent and AIA customer care personnel. Both them give me different story every time I ask for claim status. From this incident, I have this stinking feeling that my agent is inexperience at all at doing claim and handling cases. My perception here is that the why would customer care personnel lie?

So sick and fed up.

It has been six months, I tried very hard to pay for the treatment on my own, with claim department delaying the claim for the first batch, I can't claim for the second batch. What has been paid, paid. What I need to know whether AIA can approve the claim or not.

If they are not, I need a very valid reason why. If the investigators can indeed prove that my mom contracted hep-c before she got the policy, fine. Which, I think they can't find any prove yet...I believe the only thing they can speculate that my mother contracted Hep-C years ago was a 'Raised GGT' values found in year 2006 medical report. From what I research, raised GGT is just an indicator of liver damage and it is not valid measurement for Hep-C diagnosis. And if there was raised GGT is a blood report last 2006, the doctor could have probe further. What I afraid the most is whether the investigators are working with speculative facts to reject the claim.

If they are in the 'underwritting' process, make it fast (6 months ler, macha, a typical company/bank/kedai runcit out there probably has already run 2 quarter financial report ler).

Thanks for the feedback, Desmond.

Are you happen to be an agent? For my mom's case above, do you think the company would reject just like that? Or is there really such scenario where the company just drag on and on for half a year...and you know, because they don't feel like paying?

So to put it this way, since my claims has been dangling there for 6 months, I should just drop by AIA HQ and demand for an answer immediately? I mean I just kind of think the claim department are just plain ridiculous...

After long waiting and delayed lame excuses from my imbecile agent, I manage to find out status of my mom's claim. I manage to get insider info from my brother-in-law's agent (from GE, he know the guys working in AIA claim dept.) to probe and get the answer from claim department.

The claim is REJECTED.

THANK F*CK YOU VERY MUCH, AIA. AFTER LETTING ME WAIT FOR 6 MONTHS.

From what the claim department said, they reject the claim because of the Raised GGT levels found in the blood test that was done in 2006. From what I research, raised GGT is not a definite indicator of hepatitis, but an indicator of liver damage (they are a couple of reasons that cause this).

I will chase for an official reply from AIA AND I'm going to go for appeal. If there was a problem with my mother's blood test 4 years ago, the doc could have probe further that time.

My guest is correct when they are working on speculative facts to reject my mother's claim. This AIA is the MOST F*CKED UP insurance company that I've come across...SAME GOES FOR THIS AGENT 'FRIEND' OF MINE.

Like I mentioned before, raised GGT is not a correct indicator for hepatitis, but an indicator for liver damage. Raised GGT can be cause by a lot things. They are rejecting it merely base on a hunch that my mother had hepatitis. This is really ridiculous. IF they found out that my mother indeed had hepatitis base on a hepatitis diagnosis years ago...fair enough, but this is...*my blood pressure is spiking*

Another thing that pisses me royally is that...why it took them 6 months to do investigation??

I'm going for an appeal. If the appeal fail, I'm going for a third party appeal. My agent is no where to be seen and heard. My AIA agent useless. AIA USELESS.