IT is very interesting to note that under the 36 critical illnesses list
where the heart insurance coverage is concerned,
insurance companies only cover
heart attacks and damage to the heart,
including open heart or bypass surgery.
Blockages in heart vessels are not considered critical
although these may lead to heart attacks and also death.
They do not consider angioplasty for payment
although it is done to prevent further damage.
7 comments:
The early stage cancer is another scam product because early stage is undetectable and symptomless . It is a scare insurance.
Dear Mr Tan
Given all these limitations.
And also it's so difficult to identify the 1,001 different critical illnesses.
Is it not better for the average Singaporean to focus on hospitalization insurance first?
Rather than all these difficult to understand and claim type of critical illness?
With a good hospitalization, we are even insured for a broken leg.
Insurance companies are resorting to scare tactics to design their products. Some even use scary gory pictures to market their products.
Ethics is being made a mockery.They use lies just like the salesmen use lies to push thier lousy products.
MAS discovered it, isn't it?
In the Sunday Times it was reported that a ntuc income agent sold to an old woman of 60s a regular ILP with insurance despite being told that she didn't want any insurance but plain saving product only.
Also strange is why the supervisor approved the sale when it was obvious the product was not suitable for an old woman of 60+. What about the group sales manager above the supervisor? What about the compliance? The truth is the supervisor and above are not qualified.I know because I see them doing craps everyday.
It is kelong , right? conflict of interest, from agent to compliance, right?
The customer should have been told there wasn't any suitable product for her. That would have been the BEST ADVICE. But!!!!!! why lose a sale, commission?. Perhaps this was in the mind of the agent. Just sell anything close to what the customer wants, right and the agent would be happy to report to please his or her supervisor.
Ladies and gentlemen... this is only the tip of the iceberg. This is not the only case uncovered by MAS. This case is representative not only in ntuc income but also in all the other insurance companies, just that ntuc is more famous for its product pushing agents otherwise they are not known as the sales champions for nothing.
Be careful. Report any unusual practice. Report even your brother or sister or relatives if there is conflict of interest in the advice.
Ask a lot of questions. Ask about the commission they earn from the product they are pushing to you. If they don't disclose, walk away or report them to MAS for breaking this disclosure law.
A Concerned Adviser.
Oh dear, by now practically every insurance policy we buy, we are very well aware, could only get claims when we are on the verge of death, ultimately benefitting our beneficiaries only, unless the Yuan Law Wang suddenly decides the insured is not time yet to join him, and he miraculously overcomes his mortal illness, that's when he would savour his claims.
Yes, read the tiny deceptive prints carefully, other than surgeries, find whether procedural treatments needed to fix problems are covered or not.
Be assured that those that need to be insured will be left out from the policy and those that are not necessary will be insured to the hilt to make the policy looks good.
Hi, A Concerned Adviser,
the ntuc agent should also sell the vivolink to her grandmother and father and tell them that since she is back from Great Wall of China her mindset has changed and she is able to sell vivolink fearlessly.
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