My friend have a strong trust in the integrated health plan. He likes to buy the top plan to cover private hospital and is willing to pay the high premium. He also read the coverage and policy conditions carefully and talk to the insurance agent to clarify any doubts.
Recently, he came across an unexpected problem.He had some problems with irregular heartbeat recently. He carried out a thorough medical checkup. The doctor discovered that he had a congenital hole in the heart and a faulty valve.
He thought - how fortunate that he had a complete integrated plan coverage. That would take care of his financial problem.
He got a shock. Congenital defects are excluded from the coverage.
My friend has been insured under this plan more than ten years. He is now approaching 60 years. All along, he was not aware of this medical defect.
He recalled that the medishield plan (on which the integrated plan was built on) was extended to cover congenital defects many years ago.
The insurance company said that this coverage applied to integrated plans taken after the change of government policy. It does not apply to insurances taken earlier.
I find this reason to be ridiculous. My common sense indicates that the inclusion of congenital defects should be applied to all coverages, and not those taken after the change of government policy.
I was not sure if he had since resolved this issue with the insurance company.
Over the years, many people have consulted me on claims settlement matters. The problem arises with the interpretation of the policy conditions, and the obvious effort by the claims officers to reduce the claim payment as much as possible, to the detriment of the customers.
This is a big disadvantage of an insurance system that is run by private insurers to make the most profit.
Tan Kin Lian
https://fisca.sg/ArticleDisplay.aspx?ID=1287
3 comments:
In third-world countries medical conditions are unpleasant.
In the first world countries, they have top-notch medical services, but how many actually can afford them?
Medical insurance is a necessary evil, but it has now become a scam.
Hospital bill
A man suffered a serious heart attack while shopping in a store. The store clerk called 911 when they saw him collapse to the floor.
The paramedics rushed the man to the nearest hospital where he had emergency open heart bypass surgery.
He awakened from the surgery to find himself in the care of nuns at the Catholic Hospital.
A nun was seated next to his bed holding a clipboard loaded with several forms, and a pen. She asked him how he was going to pay for his treatment.
"Do you have health insurance?" He replied in a raspy voice, "No health insurance."
The nun asked, "Do you have money in the bank?"He replied, "No money in the bank."
"Do you have a relative who could help you with the payments?" asked the irritated nun.
He said, "I only have a *spinster* sister, and she is a nun." The nun became agitated and announced loudly, " Nuns are not spinsters*!
*Nuns are married to God*.."
The patient replied, "Perfect...
Send the bill to my *brother-in-law*"
You just need to be cautious. They advertise XXXX sq ft. You thought you are buying at a lower PSF. They did not tell you that the XXXX sq ft is included in the basement car park lot which is practically yours. The car park lot ranges around 200 sq. ft. Dont believe it, check your title deeds.
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