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 Great Eastern, Contact by email - No reply

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TSrenee78
post Jun 1 2016, 07:15 PM

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QUOTE(lifebalance @ Jun 1 2016, 06:54 PM)
sad.gif sorry to see that you had a bad experience, hopefully it did not affect your faith on insurance. smile.gif
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I'll keep medical insurance since it is a necessity.

I just remembered they have an e-connect system where you can supposedly see a lot of information inside.
Account is inactive so have to get a new pin.
I remember I tried this twice before but I never received a pin.

Message on the screen just now:
Forgot Password

You have successfully request for a new password. New password will be mailed to your address within 7 working days.

Let's see if this system now works.
iruka
post Jun 2 2016, 03:50 PM

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I also have the same kind of problem with them. I emailed them 3 days ago and got a reply about my question. I replied to their email asking for further clarification and so far have not received any reply yet.

Tried e-connect last year and never received the pin. I've tried again today. Let's see if they bother to send anything.

Does anyone know if they still issue receipts for premium payments? If they do not how does one prove to LHDN that one is paying for insurance?
ChloeKhar
post Jun 2 2016, 04:05 PM

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QUOTE(iruka @ Jun 2 2016, 03:50 PM)
I also have the same kind of problem with them. I emailed them 3 days ago and got a reply about my question. I replied to their email asking for further clarification and so far have not received any reply yet.

Tried e-connect last year and never received the pin. I've tried again today. Let's see if they bother to send anything.

Does anyone know if they still issue receipts for premium payments? If they do not how does one prove to LHDN that one is paying for insurance?
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There is a statement called SLAPP is for income tax declaration purpose. You may email or call them, if your email has not registered with Great eastern yet, then they will post to you.
iruka
post Jun 3 2016, 09:15 AM

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QUOTE(ChloeKhar @ Jun 2 2016, 04:05 PM)
There is a statement called SLAPP is for income tax declaration purpose. You may email or call them, if your email has not registered with Great eastern yet, then they will post to you.
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Does that mean that we have to ask them for the SLAPP every year? So now the onus is on us to ask? I used to receive official receipts after I paid my premium.
TSrenee78
post Jun 3 2016, 11:54 AM

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QUOTE(GeFinancialPlan @ Jun 1 2016, 10:16 PM)
If you have paid for a long time please do not simply cancel it.  Wasted all what you have invested.  To get medical and life insurance at elder age would be much more expensive.
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The returns for the life insurance policy after more than 10 years are less than 1%.
I'll keep my medical insurance.
TSrenee78
post Jun 3 2016, 11:55 AM

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QUOTE(GeFinancialPlan @ Jun 1 2016, 10:17 PM)
One gentle reminder.  Please call the center to check and confirm your address.  If your policy address stated the old address where you no longer stay there, the PIN would not reach you.  If you have more than 1 policy that registered with different address, please check which policy number you used to register e-connect.  That PIN would be sent to the address you registered with that policy no.
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Previously I had changed the address for all my policies and I have received letters on my new address from GE.
Also, my current address was used as verification during the phone call.
TSrenee78
post Jun 6 2016, 09:39 AM

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QUOTE(GeFinancialPlan @ Jun 3 2016, 12:10 PM)
Sorry to hear that.  So far my clients and I have no such issue.  Wish you get your PIN soon then you should be able to view all your policies from e-connect.
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I don't have much hope seeing how they handle all their internet related communication.
TSrenee78
post Jun 6 2016, 09:40 AM

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QUOTE(GeFinancialPlan @ Jun 3 2016, 12:15 PM)
Life insurance provides a lump sum cash to your family after your death. This amount (known as the death benefit) replaces your income and can help your family meet many important financial needs like funeral costs, immediate income replacement to support daily living expenses for your family. There will be some returns or savings but would not be much.

If you are looking for higher rebates I suggest you look into the savings (more guaranteed returns) plans or investment link products.
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Yeah, I know what it's for, but not much use anymore at the moment.

What is the actual (not projected) return from those products?
TSrenee78
post Jun 9 2016, 11:41 AM

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QUOTE(GeFinancialPlan @ Jun 6 2016, 10:10 AM)
Flip to the last part of your policy.  The projected returns should be stated in the quotation attached to the original policy you have.  In fact at any point of time if you wish to withdraw money you can do that, just contact GE and fill forms.  The money will be credited to your bank.  In order to keep the policy inforce, do not withdraw alll but leave at least RM1,000 in the account to keep it going.
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You mentioned "If you are looking for higher rebates I suggest you look into the savings (more guaranteed returns) plans or investment link products."

So I asked what are the actual returns for these products.

To be more clear: What are the actual returns from savings plans and investment link products from your experience?
lifebalance
post Jun 9 2016, 05:05 PM

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QUOTE(renee78 @ Jun 9 2016, 11:41 AM)
You mentioned "If you are looking for higher rebates I suggest you look into the savings (more guaranteed returns) plans or investment link products."

So I asked what are the actual returns for these products.

To be more clear: What are the actual returns from savings plans and investment link products from your experience?
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I think there is a misrepresentation here.

Investment does offer certain cash value but that cash value is used to hedge against the future cost of insurance so any early cash out will cause your insurance policy to lapse earlier than projected.

And again I have to say saving plan is for saving. Don't expect some kind of high return.

Let me copy paste what I posted in another thread

Think of the endowment or "saving plan" as an alternative towards
1. Tax rebate
2. You can nominate a person to inherit whereas FD can't
3. You're putting aside that money for retirement age / Children education
4. You've a chunk of money that you don't plan to utilize and would like to put it at a slightly above FD rate return and somewhere with not so high risk kind of investment.
5. You don't contribute to EPF and would like to put in some kind of "savings" as a form of retirement fund.

All the above is NOT APPLICABLE" if you:
1. Don't give a damn, figure too small
2. Don't give a damn
3. Think you have better investment out there and you know how to save
4. You don't give a damn about saving altogether
5. You don't give a damn about retirement altogether

If you have trouble understanding between definition of "Saving" and "Investment"
1. Saving is income not spent, or deferred consumption. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash.[1] Saving also involves reducing expenditures, such as recurring costs. In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is higher; in economics more broadly, it refers to any income not used for immediate consumption. - https://en.wikipedia.org/wiki/Saving

2. To invest is to allocate money (or sometimes another resource, such as time) in the expectation of some benefit in the future.

In finance, the expected future benefit from investment is a return. The return may consist of capital gain and/or investment income, including dividends, interest, rental income etc.

Investment generally results in acquiring an asset, also called an investment. If the asset is available at a price worth investing, it is normally expected either to generate income, or to appreciate in value, so that it can be sold at a higher price (or both).

Investors generally expect higher returns from riskier investments. Financial assets range from low-risk, low-return investments, such as high-grade government bonds, to those with higher risk and higher expected commensurate reward, such as emerging markets stock investments. - https://en.wikipedia.org/wiki/Investment

TSrenee78
post Jun 10 2016, 09:14 AM

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QUOTE(lifebalance @ Jun 9 2016, 05:05 PM)
I think there is a misrepresentation here.

Investment does offer certain cash value but that cash value is used to hedge against the future cost of insurance so any early cash out will cause your insurance policy to lapse earlier than projected.

And again I have to say saving plan is for saving. Don't expect some kind of high return.

Let me copy paste what I posted in another thread

Think of the endowment or "saving plan" as an alternative towards
1. Tax rebate
2. You can nominate a person to inherit whereas FD can't
3. You're putting aside that money for retirement age / Children education
4. You've a chunk of money that you don't plan to utilize and would like to put it at a slightly above FD rate return and somewhere with not so high risk kind of investment.
5. You don't contribute to EPF and would like to put in some kind of "savings" as a form of retirement fund.

All the above is NOT APPLICABLE" if you:
1. Don't give a damn, figure too small
2. Don't give a damn
3. Think you have better investment out there and you know how to save
4. You don't give a damn about saving altogether
5. You don't give a damn about retirement altogether

If you have trouble understanding between definition of "Saving" and "Investment"
1. Saving is income not spent, or deferred consumption. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash.[1] Saving also involves reducing expenditures, such as recurring costs. In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is higher; in economics more broadly, it refers to any income not used for immediate consumption. - https://en.wikipedia.org/wiki/Saving

2. To invest is to allocate money (or sometimes another resource, such as time) in the expectation of some benefit in the future.

In finance, the expected future benefit from investment is a return. The return may consist of capital gain and/or investment income, including dividends, interest, rental income etc.

Investment generally results in acquiring an asset, also called an investment. If the asset is available at a price worth investing, it is normally expected either to generate income, or to appreciate in value, so that it can be sold at a higher price (or both).

Investors generally expect higher returns from riskier investments. Financial assets range from low-risk, low-return investments, such as high-grade government bonds, to those with higher risk and higher expected commensurate reward, such as emerging markets stock investments. - https://en.wikipedia.org/wiki/Investment
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Understood on the above. Do you happen to know any actual returns for AIA plans?

lifebalance
post Jun 10 2016, 09:20 AM

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QUOTE(renee78 @ Jun 10 2016, 09:14 AM)
Understood on the above. Do you happen to know any actual returns for AIA plans?
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Hi

You may refer to our fund performance inside this link

https://www.aia.com.my/en/our-products/inve...nked-funds.html
TSrenee78
post Jun 10 2016, 10:01 AM

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QUOTE(lifebalance @ Jun 10 2016, 09:20 AM)
Hi

You may refer to our fund performance inside this link

https://www.aia.com.my/en/our-products/inve...nked-funds.html
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Thanks, it is good to see some insurers put the data online.
TSrenee78
post Jun 29 2016, 11:05 AM

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I had received a pin, but it ran into some problems. I told them about the problems so they sent another pin. Now I can finally enter the system. And here ends the good news.

The bad news is that they won't change the payment date in their system even though I already sent them the proof that the payment was made earlier than the date in their system.

They asked me to send in a letter to their office requesting to change the date in their system. At this point I'm too tired already to do this.

If I hadn't noticed the wrong amount in the statement I also would not have known that the payment was entered wrongly in their system.

The consequence of the payment date entered wrongly was that the auto loan kicked in.

I have no clue what the consequence of this auto loan kicking in is, but it can't be good I suppose.
tanchong
post Sep 9 2019, 09:26 PM

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Hi how to delete great Eastern e-connect account ? I had surrender my policy but still can log in to e connect..

 

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