Friday, January 12, 2007

Magnanimous claim settlement

A policyholder was insured under the Dependent Protection Scheme. He suffered from persistent cough for 3months and eventually died of cancer. While seeking treatment, he overlooked to pay the premium for his insurance. At the time of death, the premium was outstanding for 4 months.

His wife made an appeal for the benefit under the Dependent Protection Scheme to be paid, in spite of the insurance cover being lapsed for non-payment of premium. The claims committee of NTUC Income considered the appeal. A decision was taken to pay the benefit in full, less the outstanding premium. The insured sum was $46,000.

The wife was very grateful for this compassionate and magnanimous decision. She sent the gratitude of the family to the members of the claim committee.

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