I believe the first step for you is to call up the bank, and find out exactly what the coverages are.

From there, you can then ask yourself the questions:
1. am i adequately covered?
2. do these plans fit my objectives?
3. what do I want or what are my objectives?

Then when you finally decide to speak to a life planner, you have a rough guide in your mind on your expectations.
We can work within your parameters.

These homework are necessary for anyone to do.
Otherwise, the meeting with any life planner will be a waste of your time without a clue of where you are, what you want, what you currently have, and where you want to be.

You can expect life planners like myself and many others here to fact find and grill you in order to do all the above for you.
A pre-requisite for that to happen is for you to divulge all your details, all your finances to me without holding anything back.
Just like all the other professions, we need to work with data in order to give you reasonable recommendations relevant to you.

__________________________________________________________________________

If I can be frank, have you ever jumped into a cab and see if the driver knows where you want to go?
That sounds pretty bizarre, right?

Or going into a bakery and ask for the "best" cake.
How would the shopkeeper know if you have any allergies or preferences? The best they can do is to point out their best-seller, which is none of your business, but then if it hits, it hits!

So when you asked if those plans are necessary...
We don't know heads or tails about you...
How to advice?
Better say "yes" loh...
Otherwise any bitter gourd tofu, we cannot afford to be the one liable, telling you "not necessary" and there goes our name and career down the drain, let alone living with the guilt.


Sorry lah, a bit long winded.
But it is my betul feeling, and I felt it had to be said.

Does anyone have experience on how to terminate insurance? Been with Zurich for 1 year and decided to change to AIA this month. Contacted my Zurich agent for termination last month, but response is too slow.

Can advise on how to terminate faster (to avoid more monthly contribution) and what is the common lead time for insurance company to terminate our insurance? More than 1 month?

Contact Zurich for the procedure

Directly walk in to the HQ or branch.

Thank you, will try to call their helpline on monday.

Hi, does anyone know whether medical report fee is claimable from insurer when we submit claims report ?

Specifically, i bought a CI attached together with my house loan/mrta with AIA. Now when i am making a claim, they request for all sorts of supporting and many doctor statements (so far already more than 5). They also asked me to provide the original copy of the receipt (for the medical report fee) to them. Would they ask for the receipts eventhough it is not claimable? I understand normally it is not claimable or am i wrong ?

Not an insurance expert or expert of any thing.
Just ksy poh abit while waiting for real sifus to response.
Reading from this,.....
“If requested for personal usage or through personal means, the patient would have to pay for the medical report himself.

“If he had gone through legal aid, the legal company would have to pay, and if through insurance claim from an insurance company, then the insurance agent would have to pay.”

The spokesman said the system was the same for any hospital in Malaysia."

Patient irked over medical report fee
https://www.google.com/amp/s/www.nst.com.my...ical-report-fee

My take is,
If the agent pay, then I am sure he will hv to be able to claim it back from the company.... Thus my guess is medical report fees is claimable for claim purposes.

This post has been edited by MUM: Oct 23 2021, 06:36 AM

Thanks for sharing, I understand from my PRU agent that if it is a medical report fee for new business, then it is climable. But if medical report fee for claims, then it is not claimable.

But my current scenario is CI attached to bank loan, hence im not sure if the rules/procedures are different from individual insurance. Because if not, why are they asking for my original official receipts to be sent to them? In my case both AIA and PBB claimed that they do not have agent to serve me hence i have to get all the documents myself. Earned the commission but dont need to serve. 🤔

do you have problem getting the original receipt and submitting to them?

This post has been edited by MUM: Oct 23 2021, 12:38 PM

There are few more doctor statement to get. If not reimbursable, i was thinking to send them the signed consent form and let them get directly. It is also more credible from audit/claims investigation point of view.

👍👍
For me doing that, will definitely save me alot of work n time of doing it.... The draw back it may takes longer times to have the claim process done.

This post has been edited by MUM: Oct 23 2021, 01:32 PM

I'd like to shed some light on this issue on medical report fees.
I assume that there is a cashless facility on your medical insurance, correct?
What was the reason it was not utilized?

The medical report fees on claims is charged to the patient. Even the receipt is issued in the name of the patient.
If the cashless facility is utilized, the medical report fee will be charged directly to the insuring company, and the report is then released to the insuring company for the purpose of documentation and subsequently paying the bill.

Secondly, I also wish to ask why is there no servicing agent?
Did you purchase the policy from a bank or online?
I ask because I refuse to believe any agent today will risk a complaint as it will affect their BSC.

Should you have bought the policy from a bank, then the one failing to provide the service is the bank. Banks act as corporate agencies selling bancassurance products, they then owe the service to you.
Should you have bought the policy direct from the insurance company, there are no commissions paid to anybody. Hence, you gta do these runs on your own because nobody owes the service to you. The insuring company is only liable to the amount being claimed.
Should you have bought the policy from an intermediary like myself, then he/she owes the service to you.

Thanks jiuhwei. I took a housing loan from PBB. At that point, they asked me to also sign up the insurance for death and CI (2 policies) which is insured by their panel insurance, AIA. This is for me to get a lower interest rate on my house loan, 4.xx%. Otherwise, the rate will be higher @5.xx%. So, there is no medical card/cashless facility as it is only life and CI. The forms were brought to me to sign by PBB mortgage team, and masterholder policy is PBB. So I assume PBB has earned the commission via bancassurance channel. But they decline to service me as they said I have to get the supporting myself.

The doctor statements submitted were from my specialist who treated me. Now they further asks for statements from quite a few GPs. Probably claim investigation coz my loan was in effect slightly more than 1.5 yrs when diagnosed. I am almost at the point of filing a complaint to bnm as there has been quite many instances happened that i was not happy about, but still trying to be patient as dont want to give people a hard life also.

You're being investigated, therefore you're required to submit the additional document to be reviewed.

Complaining this matter to BNM will not help. Everything has a process, living in a microwave era where you expect everything to be instant, skip from A to Z instead of going through A - B - C ... Z.

If everyone wants to have their way on claims done, might as well make BNM as a claim department, everything deal direct to BNM is answerable sounds good?

I'd suggest you to be more patient and comply with whatever they ask for and it'll get by faster than you procrastinating and nothing is progressing

This post has been edited by lifebalance: Oct 23 2021, 07:53 PM

hi your case quite similar with me. I purchased a house , loan with public bank and the banker insists to sell me AIA life insurance in order to get a cheaper interest rate.

I have no choice but to adhere with it.After I obtained the policy document , insurance agent part is actually the banker name. I guess he earn commission out of it. After that whenever I want to perform claim or servicing , this banker won’t help and he also not familiar with claim process flow / operation at all. End up everything is deal with aia customer service to resolve it.

Furthermore bank policy unable to transfer to another servicing agent 😅 both aia and prudential also the same , cannot be transferred.

It took me around 2 months for a claim of rm7000. I have to walk in and email aia customer service , plus self pay all the documentation in between which cost around 100-200 , I don’t think that can be reimburse back.

This post has been edited by ping325: Oct 23 2021, 07:54 PM

Complain because i submitted my claim form+ supporting to PBB and they hold it for 1 month because they forgot to submit to AIA. When i call them to ask for status, then only they realised they forgot to submit. Because commission earned but so servicing. Because forcing people to buy CI and taking credit card for your loan to be approved is also against bnm regulation. Not because need to do claims investigation.

Yea similar case, mine so far 3 months plus already 😭. Did you try to submit the receipts for documentation costs to them last time?

Unfortunately, banassurance doesn't provide much of a service, bankers are required to get a license to sell you the banassurance and that's pretty much it. The commission paid to bankers are peanuts, the bank earns majority of it. So unfortunately for you, you'll just have to DIY this on your own.

There is no time frame for the insurance company to respond to you in a investigation case. They can hold onto it as long as possible until the investigation is complete.

As I said earlier, the faster you comply with any outstanding documents, the faster you can chase on any outcome, otherwise, the ball is on your side to comply with whatever that is outstanding and the insurance company can argue that you didn't submit all the requirement document to process the claim.

I see. Thanks for clarifying.
Wouldn't it be a better alternative to engage an insurance agent or life planner for your insurance needs?

In the case of applying for a critical illness claim, yes there are certain documents required. No worries, it is not complicated.

For a critical illness claim, usually a medical report is required from the attending physician to confirm on the diagnosis, condition, and date.
The purpose of carrying out an investigation is just to ensure there is no case of non-disclosure during policy application. However, it is quite weird that you have to sought for the GP records on your own. Reason why I say this is because signing on the Life and CI policy application, you also authorize the insurer and relevant government institutions to obtain your medical records from licensed medical facilities and institutions. With this claim and subsequent investigation carried out, it is a matter of written letter communications between these entities. Perhaps there is a recent update to FSA 2013 that I am unaware.
Of course, a Critical Illness claim for needs to be filled as well. The relevant forms can only be obtained from PBB.

ON TOP of that, yes the insurer also reserves the right to investigate under the contestability period provision. Filing a claim against the insurer at this stage would be futile, but perhaps you may have a case against PBB for failing to comply with the provisions of FSA 2013 under ethical and professional conduct. But that is up for debate. The OFS would likely advice as such too.

i would have fallen for it in that situation, if at this scenario at that time... "a lower interest rate on my house loan, 4.xx%. Otherwise, the rate will be higher @5.xx%. "

really eye opening to read this few recent postings about this kind of scenarios with this kind of problems.....