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 Customer Friendly Health Insurance, Looking for a plan with simple claiming

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TSSimon23
post Sep 11 2018, 12:25 PM, updated 6y ago

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Hi Lowyat,
I moved with my family of 3 to Malaysia 2 years ago. Like to find a local alternative for my our current international health plan (is rather expensive) as we intent to stay longer in sunny and friendly Malaysia :-)

While I have been shopping around on websites like ringgitplus I am looking for some real life experience of making claims. I have some bad experience with insurers rejecting valid claims and requesting heaps of documentation from different doctors till they accept your claim (even on small amounts).
I would rather not have that experience ever again.

Would be happy if any of you could share positive as well as negative experiences.

Thank you very much!

Cheers
Simon


SUScitacitata
post Sep 11 2018, 01:54 PM

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My claims from Allianz has been quite smooth. I'm a doctor but not an agent. If u need more info I can lead to the right person.
Titantt
post Sep 12 2018, 02:54 PM

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Claims with the Big 3 (Pru, GE, AIA) are getting tougher as the amount of claims have raised rapidly since the past few years (trying to reduce fraud, excessive claims hence more investigation/delay)

I was told that other insurance co, such as Alliance, Zurich, MCIS etc have better return n claim process as they are trying to capture the market

This post has been edited by Titantt: Sep 12 2018, 02:55 PM
TSSimon23
post Sep 13 2018, 12:35 PM

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Dear both, thanks for the feedback. Will look into Alliance.
Cheers
[Ancient]-XinG-
post Sep 13 2018, 01:35 PM

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Malaysia is sunny yes.

but not friendly
ckdenion
post Sep 14 2018, 04:51 PM

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QUOTE(Simon23 @ Sep 13 2018, 12:35 PM)
Dear both, thanks for the feedback. Will look into Alliance.
Cheers
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its Allianz by the way... holocene
Holocene
post Sep 14 2018, 05:45 PM

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QUOTE(ckdenion @ Sep 14 2018, 04:51 PM)
its Allianz by the way... holocene
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Thanks ckdenion for the tag.

I would say all insurance companies will have to make the relevant compensation as per their terms and conditions within the policy you sign but maybe the back office in terms of processing differs.
Your agent's professionalism will also contribute to your experience should a claim arise.

Allianz has announced that starting October 2018, Allianz Life Insurance Malaysia (ALIM) will be taking over from Asia Assistance Network in providing cashless hospital admission.



Best,
Jiansheng
victorian
post Sep 15 2018, 12:41 AM

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QUOTE(Holocene @ Sep 14 2018, 05:45 PM)
Thanks ckdenion for the tag.

I would say all insurance companies will have to make the relevant compensation as per their terms and conditions within the policy you sign but maybe the back office in terms of processing differs.
Your agent's professionalism will also contribute to your experience should a claim arise.

Allianz has announced that starting October 2018, Allianz Life Insurance Malaysia (ALIM) will be taking over from Asia Assistance Network in providing cashless hospital admission.
Best,
Jiansheng
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Umm so Allianz is not using third party now ?
Holocene
post Sep 15 2018, 09:03 AM

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QUOTE(victorian @ Sep 15 2018, 12:41 AM)
Umm so Allianz is not using third party now ?
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By October they won't be.
kusanjoy
post Sep 15 2018, 09:07 PM

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Even I have been heard a lot much time that insurance companies ditch you when the time comes to pay back and thus people claim on the insurance but still get no result on this issue. Last year one of my cousin living in California faced the similar issue when her bathroom tap got damage and thus full house got filled with water that was damaging electric wires as well as other appliances. So it was in agreement with the insurance company if any case related to water dame the insurance company will take care of it. But at the last moment when my sister claims the company they denied and thus had to call professional public adjuster from their official site and they helped out from this issue.
victorian
post Sep 16 2018, 08:09 AM

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QUOTE(kusanjoy @ Sep 15 2018, 09:07 PM)
Even I have been heard a lot much time that insurance companies ditch you when the time comes to pay back and thus people claim on the insurance but still get no result on this issue. Last year one of my cousin living in California faced the similar issue when her bathroom tap got damage and thus full house got filled with water that was damaging electric wires as well as other appliances. So it was in agreement with the insurance company if any case related to water dame the insurance company will take care of it. But at the last moment when my sister claims the company they denied and thus had to call professional public adjuster from their official site and they helped out from this issue.
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A lot of reasons for insurance company to deny your claims. All the fine prints are in the contract and most people do not bother to read them. Insurance companies are running a business after all, and they try to pay all the legitimate claim. After all, excess claims more than the product designs will be passed on to the consumer in the form of increased premium. You wouldn’t want that right ?
TSSimon23
post Sep 17 2018, 01:39 PM

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@holocene thanks for the info. That is indeed a good argument to look into Allianz (mea culpa for the spellccheker turning it into Alliance).

@kusanjoy, victorian

yes that is exactly my experience as well. The problem in the insurance industry is rather simple: The insurance wins when they overcharge you on the premium and deny claims. The customer wins when they charge you a low premium and approve claims.

By the way fun facts:
8 out of 10 people in the UK do not understand their insurance T&Cs. - Financial Times
Loss ratio (= % the insurance pays back to customers on claims) for car insurance can be as low as 60 %.
Up to 37 % of life insurance claims are rejected - ASIC
In Malaysia agents are legally allowed to take up to 35 % commission - BNM
70 % of Malaysians think premiums are to high - iMoney & the Edge

 

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