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> Insurance Talk V5!, Anything and everything about Insurance

cherroy
post Jan 14 2019, 10:41 AM

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QUOTE(MUM @ Jan 13 2019, 08:49 PM)
hmm.gif just for discussion sake....
this pre existing thing......
does it has a duration before it is NOT classified as pre existing?

example....if his son is 1 yrs old, 15 yrs old or 25 yrs old....... does age matters? any different?

hmm.gif example....at what age will then, having cancer.....will not be classified as pre existing? thus covered by insurance?
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Pre-existing means those illness already exist before the insurance was bought.
Not about what age.

That's why we need to be careful when switching new policy/insurance companies particularly medial policy, as if any sickness found later that actually incurred before you bought the new policy, it may not covered by the new policy due to pre-existing clause.
As some illness/sickness may only appear in the later stage, while when diagnosed, medical examination can trace back when the illness actually occurred.

As I have seen some switching medical policy just simply due to a little bit better coverage, or sweet talk by agent, especially for elderly one, as switching may result in the insured faced addition pre-existing risk that do not covered by the new policy.

Cogenital means those problem exist since the child is born.

Edited : technically, since cogenital illness exist before the insurance was bought, so it is still fulfilled the "pre-existing" terminology, strictly speaking. biggrin.gif

So there are totally 2 different issues.

This post has been edited by cherroy: Jan 14 2019, 10:44 AM
lifebalance
post Jan 14 2019, 10:57 AM

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A simplified version would be

Congenital = defects that you're born with while you're in your mother's womb.

Pre-existing = defects that you've been diagnosed with in your day-to-day life

Technically if you've not known that you have a pre-existing illness before an insurance claim, you are eligible for the claim (of course sometimes insurance company maybe skeptical and would like to investigate further before paying out, hence your initial claim maybe rejected until further investigation).

It's simple, if you've been healthy all these while and you've never been hospitalized or you've done your regular check up and everything is normal, you're categorized as a healthy standard person.

If your parents told you that you had something while you're young / baby or you've went to the hospital for something major (operation / diagnosis) then you should declare accordingly of what had been told to you, to the insurance agent to properly declare it.

Add on: https://en.wikipedia.org/wiki/Birth_defect

You can read more about congenital birth in the link above.

This post has been edited by lifebalance: Jan 14 2019, 11:01 AM
cevest
post Jan 14 2019, 10:45 PM

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OK on this pre-existing illness thing, I have a few questions.

1. If I have a slipped disc and I declared it at the time of proposal, it's still on going without much going on, how would my policy be underwritten?

2. So later during the coverage period I need medical attention, is this covered?

3. Say you have a different slipped disc later in life during coverage, this doesn't count as pre-existing illness yes? They are not the same disc!
lifebalance
post Jan 14 2019, 10:47 PM

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QUOTE(cevest @ Jan 14 2019, 10:45 PM)
OK on this pre-existing illness thing, I have a few questions.

1. If I have a slipped disc and I declared it at the time of proposal, it's still on going without much going on, how would my policy be underwritten?

2. So later during the coverage period I need medical attention, is this covered?

3. Say you have a different slipped disc later in life during coverage, this doesn't count as pre-existing illness yes? They are not the same disc!
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1. Exclusion, depending on the whole spine or specific area of the spine

2. No, depending on the exclusion clause

3. Depends on exclusion clause
cevest
post Jan 14 2019, 10:51 PM

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QUOTE(lifebalance @ Jan 14 2019, 10:47 PM)
1. Exclusion, depending on the whole spine or specific area of the spine

2. No, depending on the exclusion clause

3. Depends on exclusion clause
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Thanks mate!
cucikaki
post Jan 14 2019, 11:03 PM

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anyone can share the actual performance of AIA/Prudential funds - equity/bond/etc for the 3-in-1 medical card? - % rate of return for the past few years.

This post has been edited by cucikaki: Jan 14 2019, 11:04 PM
JIUHWEI
post Jan 15 2019, 01:23 AM

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QUOTE(cucikaki @ Jan 14 2019, 11:03 PM)
anyone can share the actual performance of AIA/Prudential funds - equity/bond/etc for the 3-in-1 medical card? - % rate of return for the past few years.
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Aia BHD
You can find out about each of them here https://www.aia.com.my/en/our-products/inve...nked-funds.html

Prudential here http://www2.prudential.com.my/fundpriceV2/daily.php


More info you can put each code in here https://www.bloomberg.com/quote/BURSA:MK

More research here https://my.morningstar.com/ap/main/default.aspx
And here https://www.fundsupermart.com.my/m



JIUHWEI
post Jan 15 2019, 01:38 AM

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QUOTE(cevest @ Jan 14 2019, 10:45 PM)
OK on this pre-existing illness thing, I have a few questions.

1. If I have a slipped disc and I declared it at the time of proposal, it's still on going without much going on, how would my policy be underwritten?

2. So later during the coverage period I need medical attention, is this covered?

3. Say you have a different slipped disc later in life during coverage, this doesn't count as pre-existing illness yes? They are not the same disc!
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1. You will have to submit the most recent report on the condition and it can only be underwritten with the report.

2. If it falls under exclusion, most likely your whole spine is excluded.

3. If the exclusion clause remains unchanged then no it is not covered.
tikaram
post Jan 15 2019, 03:03 PM

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My friend make a claim with supporting submitted.

The insurance company said some of the billing is unreasonable so they deduct here and there from the total billing

From 16,722 reduce to 12,583.00

The policy did highlighted reasonable but this open for insurance company self define

Where can I go for this?

Thank you


lifebalance
post Jan 15 2019, 03:11 PM

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QUOTE(tikaram @ Jan 15 2019, 03:03 PM)
My friend make a claim with supporting submitted.

The insurance company said some of the billing is unreasonable so they deduct here and there from the total billing

From 16,722  reduce to 12,583.00

The policy did highlighted reasonable but  this open for insurance company self define

Where can I go for this?

Thank you
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You may write in to the insurance company to debate on it and get what you think it's fair. If you're still unhappy you may file a complaint to LIAM cc BNM. If you are still unhappy with the outcome from BNM, you may file your legal suit against the insurance company for any outstanding.
tikaram
post Jan 15 2019, 03:25 PM

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QUOTE(lifebalance @ Jan 15 2019, 04:11 PM)
You may write in to the insurance company to debate on it and get what you think it's fair. If you're still unhappy you may file a complaint to LIAM cc BNM. If you are still unhappy with the outcome from BNM, you may file your legal suit against the insurance company for any outstanding.
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Thank you.

Have you done the above? What was the outcome?

Should I Viral this insurance company for try to undercut me? I dont mind at the end not getting that 25% balance. My intention is just to teach them a lesson.
lifebalance
post Jan 15 2019, 03:34 PM

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QUOTE(tikaram @ Jan 15 2019, 03:25 PM)
Thank you.

Have you done the above? What was the outcome?

Should I  Viral this insurance company for try to undercut me? I dont mind at the end not getting that 25% balance. My intention is just to teach them a lesson.
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nope, never, you may look into court archive for any reference with insurance company.

no point viral in facebook, unless you want to embarrass yourself when it's open to public debate, i.e some dude was trying to viral that the insurance policy cheating him some time ago and got backfired when it's clearly stated within the policy and got shamed by the general public.

unless you don't mind to take your time to paste all facts and info about yourself, your policy details, official letters/replies from the insurance company, posting just evidence favorable to you is just one sided in the social media. Which is the usual case in order to proof that you're "Right" and the other party "Wrong".

End of the day you won't gain anything other than your ego, should the insurance company find what you're doing is of nature of defamation (spreading lies), they can always take legal action against you for what you're intending to start a wildfire in the social media.

or you can always settle it quietly by talking and reasoning. I'm sure your friend is a reasonable person.
cucikaki
post Yesterday, 10:53 PM

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QUOTE(JIUHWEI @ Jan 15 2019, 01:23 AM)
Thanks a lot smile.gif
abanganggur
post Today, 12:32 AM

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may i ask, for life insurance

if i miss out to declare some pre existing condition, eg, some major operation done more than 30 years ago, will my death claim still be valid if my policy had pass contestability period

This post has been edited by abanganggur: Today, 12:34 AM
lifebalance
post Today, 09:19 AM

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QUOTE(abanganggur @ Jan 17 2019, 12:32 AM)
may i ask, for life insurance

if i miss out to declare some pre existing condition, eg, some major operation done more than 30 years ago, will my death claim still be valid if my policy had pass contestability period
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there may be a risk on your claim being void if there is a ground to contest your claims even if it's after the incontestability period.


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