MUM, the variance is only about 400-800 per year for a 2mil medical card. the deductible is 75k. use simple math 400 vs 75k, which one will you take?

https://www.thestar.com.my/news/nation/2021...surance-company

came across this news just now. The lady didnt delcare she has depression when she apply for insurance and few years later, the lady got cancer and insurance company reject her claim because she didnt declare her depression.

If i visit clinic because i sakit perut/sakit kepala but i didnt declare when apply insurance, will insurance company reject my claim if i am hospitalized in the future?

The issue is not about the cancer critical illness payout but rather; the issue of non-disclosure.

Insurance Contract runs on Principle of Utmost Good Faith.

What is the principle of utmost good faith?
1. The principle of utmost good faith, uberrimae fidei, states that the insurer and the insured must disclose all material facts before the policy inception.

2. Facts which may enhance the level of risk are called material facts.

3. The insurer or insurance company needs to declare all public disclosures and investment strategies while the insured needs to declare health condition, family medical history, lifestyle, food habits, smoking and alcohol history etc.

4. In case of non-disclosure or misrepresentation of material facts, the policy can be considered null and void.

5. This principle applies to both life insurance and general insurance policies.

The insurance company could have choose to NOT accept the applicant's application back then if she had declared all her health status for the insurance company to consider her application whether to accept her risk or not.

below is an expanded explanation by Limster88 on the Principle above.
----------------
With that being said, as long as you can answer the questions below truthfully, there should be no problem

If you wish to answer extra than what is asked by the insurance company, you're free to do so. 

Did anyone have their medical premiums increased recently?

https://www.nst.com.my/news/nation/2021/05/...urance-policies

Thanks! Obviously we are referring to legit claims. Have you been able to read the news of GE recently rejecting legit claims?

guys need your help

should I cover until 99 years old, but in return pay more premium...

or just cover until age 60, and in return pay less premium..

need your help which one is the more logical choice..

my current idea is, I cover until age 60 only, then from 60 onwards, use my own investments to cover medical...since 60 years old my debt should be paid off.

that additional 400-500 ringgit I saved, could be invested and self-insure by the time im 60 and up..

Per month...I don't exactly know much more more I need to pay to cover the additional 39 years..but I assume is a few hundreds more each month..

what does it actually covers?...the cost of the expenses or just provide some sort of "consolations expenses/benefits"?
and also does this "benefits" has any sort of "coverage effect expiry date" or until total targetted pool of money being used up?

Called up my agent (Great Eastern), and she said cannot do! because my policy is 3rd party, not 1st party. I was like, what?? She say like forever the policy will be under my wife's name, and in case of her demise, the policy shall lapsed.

Question is, is there any other way?

A contract between the two persons is referred to as a contract between 2 parties. Party A and Party B.

When a 3rd person appeared in the contract but without any contractual duty, then he is considered a thirty party.

Eg. I bought a policy for my children. I am the policy owner and the 1st party and will pay the yearly premium. My children are the 3rd party. The insurance co is the 2nd party who will pay a claim for any injury or medical claim. The money goes to the policy owner and not the 3rd party.

3rd party dont have contractual rights.

The above is my opinion and a simple explaination and one must further read the contract tnc for additional or exclusion terms.

All employees under a company insurance are considered 3rd party. Any claims money goes to the company.

Yes. That is what I did with the screenshot above. They are paying the premium now and can do whatever they want.

I am also curious. Let me share another old GE experience.

My spouse bought a life policy and named her mother as a beneficiary. When she wanted to change the beneficiary, they reject her application indicating cannot be done. Not sure of the exact reason then but they did mention is stated in the policy.

So I am trying now to dig out the old policy (oredi surrendered) after reading 1tanmee case. Hope is still somewhere in the storage room.

During that time, was naive and just listen what was told.

Dear YK looi,
if talking about child policy. Your are the policy owner and ur child is the Life assured. in the policy contract we called it "Vesting Clause" when the child reaches 26yo where the payer benefit cease age. Read my print screen from policy contract. 

is not done by "absolute assignment" but vesting clause.

Adult policy don't have this vesting clause only apply on child policy. refer my print screen for more information.



For wan tan mee's case, better refer to ur policy contract and find this statement "if the policy owner death, all her interest, power..  shall transfer to the life assured." Kindly read through the contract to clear ur doubts. Policy contract is much better than all the guessing here.

Yes, covered.

Yes

As long as it's deemed Medically Necessary.
Up to your plan's benefit.

Sg, office based professional, need basic medial card coverage, can suggest any ?