I believe that was the most suitable advise they could give to you, with the limited information that you chose to disclose to them.
The advise given also takes into account your risk profile vs your objectives with consideration for the feasibility and resources available.
Maybe the ideas you have in mind is not a good fit for your current situation, at least not yet.

I could ask you the same things,
can you believe at this day and age unit trusts still exist when etfs are around?
Can you believe someone asking people to buy foreign currencies with MYR when MYR is at its historical low?
In a way, they shielded you from potential risks (perhaps much more than what they think you can stomach) but yet, you're not impressed because they didn't say what you already have in mind.

Why didn't you execute what you had in mind then?
Needing to borrow some friction from a stranger?

IFPs enjoy the same incentives...

Again, we can't stress it enough, that the goal is sustainability.
If our clients do well in the long run, we do well in the long run.
I think the same goes for every industry.

After all, the things worth planning for, are usually the things we hold most dear.
So there are reasons to be aggressive; and there are merits to take a more conservative approach too.

Well, at the very least, you have made it loud and clear that you will not be any of our client.
I wish you all the best in your endeavors, and would still encourage you to consider the risk factors involved.
I am guessing you are the main bread winner of your household, and your decisions affects the people who are dependent on you.
With that in mind, I gift to you a Chinese proverb: 力能则进，否则退，量力而为之 (if within your means then do it, if not then don't, go within your means)

话不多说！ 小弟自行滚了！

In the hospital there is this department called the admissions department.
They are the ones who will register you to be admitted into the hospital and collect your details such as your full name, ic number, insurance policy number.
Then the billings department will take over to liaise with the insurance company through their hospital insurance portal.
Items to be submitted in order to submit for an admission GL:
1. your NRIC, full name, policy number & which insurer
2. Doctor's diagnosis report and recommended course of treatment

Once insurer receives the items listed above, their internal medical team will give the okay/not okay.
Kalo approved, admissions GL will be issued to the hospital.
What this means is basically the insurer telling the hospital - "ok bro, jalan. This person has so and so annual limit, room and board berapa."

Then you receive the treatment.

Before you discharge, your doctor will also submit his report on what was done, how much kena charge.
Then doctor's discharge report and invoice will be sent to your insurer.
Your insurer's internal medical team will see if it makes sense.
Kalo makes sense, discharge GL will be issued to the hospital.
Basically saying to the hospital - "ok lah, bayar."
If some items not approved, they will list specifically what they not gna pay and why.

Throughout this process, we no need to do anything other than wait and complaint why take so long.

If you're like me, I know the process very well. So in order not to wait, I will also slip my credit card to the admissions counter to charge whatever deposit so I can be warded and the medical team can do what they need to do with me.
Once the GLs approved, whatever deposit I paid will be refunded back to my cc anyways.

I'm trying to be brief.

Is a recent change.

So basically the gov sees the Life Sum Insured as an asset, and is now charging a tiered percentage of the Life Sum Insured for change of ownership.

For the purpose of issuing GL, the doctor's report will not be given to us. It will be submitted directly to your insurer.
They liaise with insurance company via their insurance portals, not via letter writing

For a lot of procedures, it is a scheduled procedure. Meaning to say doctor tell you Ms. Riri, we will schedule the procedure for next Friday.
Then we can proceed to issue an advanced GL ahead of your scheduled procedure.

For emergency cases, like you mentioned, walk in, diagnose, straight away need to be admitted, the admission GL will take some time, an hour, 2 hours etc. Won't take an entire day so extreme la.

Because >80% of their businesses are derived from agency force.

And the quality of business from agency force is actually much higher compared to bancassurance and direct channels.

Remember U for Life?
It is now Fi-Life, still underwritten by Tokio Marine.
Even then, it is essentially a corporate agency for Tokio Marine Life.

A quick look at Fi-Life, you will notice that the range of products are very stripped down, not as sophisticated.
This is with good reason. The human factor is needed to screen through moral hazards, on top of humanizing insurance products.
Contrary to popular belief, agency force is encouraged to conduct needs-based selling (as much as some would relentlessly choose to see us as leeches)
There are many of my colleagues here that are doing their level best (evidently) to provide information, literally being an open book, to help, to guide, etc.

So make full use of this wonderful forum, ask questions.
Then when you feel macam quite comfortable with any of us, then just pm tepi and continue with more in depth discussion.

But if you ask questions like "which insurance is the best?"
We all gather together around a campfire and drink loh...

Usually, during the Fact Finding phase, there should be a Financial Health Check round where you go through all your commitments, expenses, your cash and assets, etc.

Was there a Financial Health Check done prior to your purchase?

I ask because your questions listed above should have been addressed during that phase, then only result in action taken, which is purchasing those policies.

I mean no ill intentions.
I just believe that since an FHC was not conducted then, maybe now is still a good time to get it done.
We're not about symptom management here, right?

Conducting an FHC will not only give him/her a good guidance on "how much is adequate for me?"
It will also make the next steps clear for the person.
After all, it is always a work in progress and consumers buy based on their respective needs.

Yes, we all want to make informed decisions.
So in my limited mind, it is only right that he/she revisits with the servicing agent to get it done.
Clearly there's more to be done there.

This sure beats feeling around in the dark, sourcing for answers here from just about anyone, who doesn't even know his/her last name, let alone what he/she has in mind. I don't even know his/her gender for that matter.

Just my agency practice lah.

Was there a Financial Health Check conducted?

The Lunar New Year was pretty intense on this thread eh?

Okay, let's all take a break and continue swinging our dicks around at least till Feb 5?

So we can all go enjoy family gatherings and each others' camaraderie.

Take all the time to review our focus areas and get a strong start to the new year

Come Feb 5, we can then come back here and decide if this bickering is doing more harm or doing more good for this great thread here.

Boleh?

No need to declare your commitments anywhere ya
Just go spend time with your loved ones

In the mean time, wanna check back and answer any questions that fellow forumers may have, please do.
But just provide information, provide answers only ya.
At least until Feb 5.

Keh goodnights y'all

Bro... I love how your handle is a good pick-me-up encouragement.
But for this specific time, maybe let this one slide?

At least till Feb 5, ah... THEN you come back and #cubalagi

However, for the sake of all of us here... Just continue to let it slide till kingdom come la.
What's the point?

This post has been edited by JIUHWEI: Jan 27 2023, 07:28 PM

I believe there's an over-emphasis on costs, as opposed to what the objectives are in acquiring personal insurance here, be it a Life policy, a Hospitalization plan, Critical Illness, etc.

While it is prudent to be mindful of cashflow, my personal suggestion is to allow for your meetings with my fellow colleagues and myself to be open, transparent, to speak and share freely. And more importantly, to allocate adequate time for these discussions to happen.

Yes, we do get remunerated for whatever transaction that happens.
Since that is the case, why not allocate the time to arrive at what is suitable and relevant for you?
The industry is moving in the right direction with the right trainings, and a monitored, regulated emphasis on ethics, treating customers fairly, Financial Health Checks, all the good stuff.

Among my best customers have quickly become my family friends over the years, simply from the quality derived out of the time we spend together. People of the similar profiles can have very different outcomes and executions, because it's about the person, not the product, not the plan, it's about you.
No two outcomes from going through the due process in fact-finding will be the same due.

At least I have a lot of faith in today's standard of trainings, monitoring, regulations, etc.

Let's talk more about the objectives!
Who knows? You might just get exactly what you want, as opposed to anything else, or worse, everything else.

What's the context?

Happy chap goh meh and happy Thaipusam for all those who celebrates ya!

Hope 2023 comes with good health and good cheer to all of us =)

Well, I believe for a (any) contract to be valid, both sides need to be in agreement in order to enter into a contract, with each honoring their end of the bargain.
This would be for the insured to declare all existing conditions as is, and for the insurer to hold up its end of the deal.

If the insured is given the leeway of withholding critical information, what leeway then should we give to the insurer?

That is why any and all declarations are very important at the point of purchasing any insurance at all.


Even when purchasing a house, we enter into an agreement with the owner of said property, expecting each to hold up their end of the bargain, ensuring each gets exactly what they agreed upon.

It's just paper work.
The same goes to all insurers.

The "BEST" policy is one that is in force.
So, if you got friend in the industry, support the feller lah.

If you think it is a good plan, please get it.

I really don't bother comparing. At all.

Because insurers are always introducing better and better plans.
Are we then going to bend over backwards ourselves just to get on the "best" plan?

Hi bro,

It's great that you're looking into your policy benefits and discovering its potentials.

However, perhaps you can call up the customer service of your insurer with these details ready:
1. Your IC number
2. Your policy number

And you'll find exactly what you're looking for.

OR

You could login to your insurer's customer portal and find a digital copy of your policy contract there.

Every insurer now has their respective customer portal.

A quick google search would pop right up.

Yes that's right