i bought GE insurance n monthly pay RM200. Got this today... What if I dont pay?


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which investment fund you choose for this GE plan?

Consultation alone (without the procedure) will be deemed as the Consultation is for an investigative purpose and the claim will not be payable.

However, if after the Consultation and there is a medically necessary procedure (which does not fall under any Exclusion), then the claim for the Consultation, medical tests (eg, blood test) and its procedures (eg, scope) is claimable.

As clearly stated in the letter, if you don't pay the policy will lapse.

Question:
1. How long have you bought the plan?
2. Was there any missed payment along the years?
3. How old are you now?

As stated in the policy you will need to top up the stated amount if not the policy will lapse and you will not be covered.

One question came to mind.

If a shop (with shop insurance) got burnt down, can the owner claim for the insured amount after all the legal things have been sorted out (police report etc)?

Or the insurance company will only pay for the reconstruction cost up to the insured value over a period of time?

Thanks.

P/S Will this be fair estimation of the insured value?

AA Purchase price = 0.5 million
BB Each year, add 3% inflation
CC Insured value = 80% of BB

Nope, price does not increase but it will depreciate each year.

Looks more like the policy is depreciated over the years and you need to pay extra for the same coverage.

You will have to report the thing first then the insurance will inspect. After investigation is finish only then you will be paid in one lump sum.

If you didn't not calculate in the inflation and insure the same amount as u did 10 years ago. And the market value is more than ur current coverage, you will be paid as % depending on how much you have underinsured.

It will be best to always stick to the Fair Market Value shown in the insurance company system or get a valuer to value the said property as a record.

I bought it last year Jan. I pay every month. Age 28 this year.
Anyone face this issue before?

payment method via credit card, debit card or cash ?

saving account. Got late payment once due to lack of balance in account. Then I transfer money to my agent for that. Others no problem.

Possibilities
1. Payment didn't managed to be deducted from savings account after several tries thus company has stopped auto deduction
2. Agent didn't pay for you after taking ur money

Should not be the case for a 28 yo. Unless you are in your sixties, the insurance charge should not rise that drastically.

Looks more like the agent never help you to pay at all
Still, is good that you terminate all insurance before you get cheated more on plans that does not cover you at all. Don't ended up like me, paying for 20 years for no reason.

This post has been edited by supersound: Jan 17 2016, 01:51 PM

Hi everyone. Would appreciate your help with insurance.
I have no experience buying medical cards. Please help.

Deciding to choose between stand-alone medical cards, AIA A-life med regular and AXA Affin SCO.

1) Are both guaranteed renewable? Do both have portfolio withdraw clause?

Which card can be renewed for up to another 50 years?
If I buy a medical card now in 2016 and then AIA or AXA comes out with another new medical card, say in 2020, do I reapply for the
new card like a new applicant and approval depending on my latest health status or can I continue with the card I bought in 2016?

2) Will my premium be increased due to my own heavy claims?

3) What other stand alone medical cards are there that are guaranteed renewable?

Thank you.

1) All company has a withdraw clause, not only on these 2 particular companies. Why withdraw clause are there? so that it protects the operator in the event that suddenly a mass pool of people in this product were to do a huge claim out of the norm from the calculated risk.

I only know for AIA, it will last until age 100

You may apply(upgrade) the medical card should you find the medical card offering better coverage. Subject to your latest health status. You may also choose to continue this card you bought now.

2) Your premium will only be increased based on your age. Cost of insurance is subject to the operator's decision to change in the future should there be heavy claims.

3) Medical card are guarantee renewable until stated otherwise in the contract.

Do understand that any policy will self depreciate every year.
And if you are really worry about health, try to change your lifestyle and stay healthy.
Even if sheet does happens, government hospitals is there. Most insurance agents will bullshit you that you have to wait donkey of years to get treated. But the fact is, they will access your situation and will let you do the operation first if it is really serious.
If you reach 60 years old, you get priority treatment also and Jabatan kebajikan is the place where you can ask for treatment waiver.
Like recently I lost my knee's lubricant, the so-called specialist in private hospital insist that I need to undergo operation which cost rm30000 but after visiting government hospital's specialist, this operation are not needed, what I need to do is reduce weight and don't simply eat junk food.
So what you need to do is donate blood 4 times a year.

Direct deduct from account to their account still can kena cheat?

Why not? If the agent submit the account number to his own account
Must know this fact till you die : an insurance agent other than cheat will mislead to secure a business.

This post has been edited by supersound: Jan 17 2016, 11:14 PM

supersound is a professional at being cheated.
Reading about his gullible saga is like watching action scenes from bollywood.