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 Prudential vs Great Eastern: My Experience, Not all insurance companies are the same

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MUM
post Sep 5 2019, 12:16 PM

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since normally a heart surgery or a brain surgery would requires "large" hospital bill,
I thought one need to have a letter of guarantee (LOG) from the insurance companies before the hospital agreed to perform them.
yes one can pay for it themselves with money and claim later...but why pay first and not a letter of guarantee first?

btw, do you mind sharing the name of this GE policy?
would like to check it out with my GE agent to regarding that....
MUM
post Sep 6 2019, 12:07 PM

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QUOTE(cklimm @ Sep 6 2019, 11:32 AM)
Upon googling about Keyhole surgery, I wonder, why the insurers dont want to cover this? Because of underlying risk? Cost?
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Maybe as mentioned by roysteveung in post 23?
MUM
post Sep 6 2019, 04:28 PM

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interesting to know too, thus I will wait for the real sifu to comment.
but while waiting for his responses, I googled and found this article....

Definition of 36 Critical Illnesses or Dread Diseases in Insurance Policy

12. Heart Valve Replacement
The actual undergoing of open-chest surgery to replace or repair cardiac valves as a consequence of heart valve defects or abnormalities that have occurred after the date of issue or date of reinstatement of this contract.
Repair, via valvotomy, intra-arterial procedure, key-hole surgery or similar techniques are specifically excluded.

https://kclau.com/insurance/definition-of-3...surance-policy/

which is similar to what have in TS policy and his condition....

QUOTE(wirelessdude @ Sep 5 2019, 02:07 PM)
user posted image

How many of us are actually given the opportunity to go through the entire document before we sign? It's the same in Malaysia for SPA, will, loan agreements, etc.
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QUOTE(wirelessdude @ Sep 6 2019, 08:00 AM)
........
I did not go for heart bypass. Mine's valve repair via keyhole surgery for mitral valve prolapse.
.....
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MUM
post Sep 6 2019, 08:04 PM

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found this type of exclusion from this type of plan..... doh.gif doh.gif

sweat.gif really have to review the plan(s) that we have already bought or about to buy .... biggrin.gif




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MUM
post Sep 7 2019, 12:36 AM

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QUOTE(Pain4UrsinZ @ Sep 7 2019, 12:18 AM)
WHAT INSURANCE COVER KEYHOLE ?
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googled and found this....

read under HEART
Pericardectomy or Keyhole Cardiac Surgery
https://www.hla.com.my/CMS/Product-Services...uct=738&Sub=948
MUM
post Sep 7 2019, 03:10 PM

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However, to be fair no policyholder should hold the insurance company to what have been projected by them 10 or 20 years ago when the document was signed then.

In simple economics the real returns, net of costs and expenses, can fall to very low levels in a poor investment climate.

https://www.liam.org.my/index.php/library/c...w-sunday-times-
MUM
post Sep 7 2019, 03:44 PM

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QUOTE(touristking @ Sep 7 2019, 03:28 PM)
There are reasonable projection and fairy tales projection.
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A product illustration is meant to show a potential ILP customer the possible movements of cash flows and the impact of fees and charges on cash values. Under the new rules, when illustrating hypothetical rates of return to a potential customer, insurers must base their illustrations on two types of rates: 2% and 5%.

projected returns of 2% and 5% are "fairy tales" projection?
MUM
post Sep 9 2019, 02:33 PM

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This post has been edited by MUM: Sep 9 2019, 02:34 PM
MUM
post Sep 9 2019, 02:35 PM

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QUOTE(touristking @ Sep 9 2019, 12:02 PM)
When did this new rule started? Since the 80 or 90s? I believe in those days, there are fairy.
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Then you must have known those fairy tales figures used...what are those figures?
MUM
post Sep 10 2019, 07:24 PM

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QUOTE(touristking @ Sep 10 2019, 07:21 PM)
Before you buy, they happily give you.

Many years after you bought and ask for another copy, they seems reluctant to do so.
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you mean it is NOT stated in your printed policy the projection rate used?
MUM
post Sep 10 2019, 09:45 PM

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QUOTE(drindy @ Sep 10 2019, 09:41 PM)
Actually the critical illness definition in Malaysia is streamlined across all life insurance companies.

Based on this individual story, I would think that the claim made under Prudential is medical claim while the claim made under Great Eastern is the Critical Illness claim.

While medical claim will cover the surgery cost, critical illness policies stated explicitly that keyhole surgeries is excluded for coronary artery by-pass surgery. This would be the same even for any other life insurance companies in Malaysia, including Prudential.

I would say that the agent does not understand the policy well and did not provide the appropriate advice. Getting the right agent is very important.
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earlier there was a post mentioned possible due to the changes to the policy between year where new guidelines were regulated by BNM
MUM
post Jul 28 2021, 02:59 PM

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QUOTE(Pop The Bubbles @ Jul 28 2021, 02:46 PM)
Came across this topic when I was reading some other investment thread. I am with GE since young which started by my parent for about 15 years and I
just continue to pay after I started to work.

not sure if i should switch to other.
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It is recommended to hv yr 15 yrs old policy be reviewed again for adequacy of coverage to suit Yr working, lifestyle n commitment level
MUM
post Oct 29 2021, 12:35 PM

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QUOTE(shop.petong @ Oct 29 2021, 11:38 AM)
Just to share my experience with Prudential when submitting claim for my late father recently:
......
......
26th Oct - as I didn't get any reply from the agent, i called the customer service to check on claim status. And I was told a CTC of death certificate is required and this request was made on 19th Oct (no one actually bother to inform me whether its agent or Prudential and happily just mark the claim as pending)

........
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2. Prudential is not showing any respect or care to the deceased family at least that is how I feel. Are you telling me they can't see when there is a death claim pending for almost a month requiring verification of a basic documentation? Not to mention the perfunctory reply from their customer service! FYI other insurance companies all processed and paid out the claim within a week no hassle at all.
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Was wondering,
where n how did they sent out that request for ctc? Is it by mail to the last known documented address?
Other insurance companies does not require ctc of that death cert? Mind to share the names of those companies that does not requires ctc?
MUM
post Mar 29 2022, 01:27 PM

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QUOTE(MGM @ Mar 29 2022, 01:19 PM)
Urgent!!! A relative working in Spore requested that I pay Great Eastern (GEA) premium for her.
How to make payment online without registering an online account to GEA?
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Maybe this?..
I just tested (halfway)
Pbe online,...
Payment, other bill, corporate code, button great Eastern assurance.....

Not sure how it will leads as I stooped there


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