Anybody sued and and won case against insurance company before?
Complaint About AIA insurance
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 Jul 27 2019, 02:52 PM
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#1
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Probation
4 posts Joined: Jul 2019 
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Jul 28 2019, 01:24 PM
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#2
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Probation
4 posts Joined: Jul 2019
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QUOTE(MUM @ Jul 27 2019, 03:00 PM) googled and found this... Thanks for your quick help.page 2 got 1 case, more cases inside perhaps  |
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Jul 30 2019, 08:12 AM
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#3
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Probation
4 posts Joined: Jul 2019
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The more sinister scheme is to keep collecting premiums from clients who don't make claims, and maintain lifelong policies with relatively high premiums.
If you are such healthy and loyal clients who consistently pay for the "savings" or "investment" policies, check the surrender values and other payout after you keep paying for more than 10 years. Yes, indeed technology is forcing the insurance companies to be more transparent. Therefore, through their online portals, you can login and monitor your compensations. However, when you raise the questions on the expected returns, you will be slapped with reality, not quite the fairy tales given when you signed up. When you proceed with contacting the 'customer service' (not client service?!) for clarifications, you will be sent on a wild goose chase through red tapes, some old story. Agents are reps of insurances company who has no authority on claims. Their jobs are to CONvince you to sign up. Be skeptical when an agent says he/she is your friend, and check annually after 10 years if they are still there for you. |
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Jul 31 2019, 07:36 AM
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#4
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Probation
4 posts Joined: Jul 2019
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QUOTE(JIUHWEI @ Jul 30 2019, 10:40 PM) Let’s say you are a merchant, with goods for trading on a large ship. What is the ratio of Premium collected : Compensation?Let’s say you have a total of rm100 of goods on that ship. Along your route, you are exposed to several risks: Extreme weather Pirates Goods imploding With that in mind, right before your ship sets sail Mr JIUHWEI comes along and makes you this offer: Hey bro, for rm2, I will insure you against your potential losses, to the total amount of your goods. Should you encounter losses through no fault of your own doing, I will reimburse you the total value of your goods on your ship. Will you sign my the contract with me? On your next trip, would you look for me to continue buying into my terms? You might have a good and fruitful trip though. But the rate in this simple illustration is still 2%. Do you think this is worth paying? ———————————————— Now take a look back at your policy (I assume you have one despite paying it very reluctantly). What is your rate? Is it higher or lower than 2%? Every year, insurance companies pay in the billions in compensations. Must be some very shitty red tape they have, don’t you think? I wish I could see hands raised by people going through shitty red tapes. Nevertheless Mr. JIUHWEI, not all insurance policies are bad. I am just saying we should take the signing up of insurance policies seriuosly and not be overly trusting. After servicing the insurance policies years, we should check if the insurance company is honouring the terms as per your agent 'promised' you. Why the disparity? Agent, insurance company. In many instances, agents may not be found after you have signed up. |
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