FAQ

• I have a medical condition, should I declare it?  If you have a pre-existing condition, please make sure that the agent clearly writes it into the proposal form during inception. If the agent fails to declare this, when the claim arises, the insurer may not be liable to pay for the claim as it falls under non-disclosure clause of pre-existing illness. When you get the policy document, please check and verify that the health condition is being declared. The outcome of the health declaration would be 1. Accepted but with an exclusion (normally with loading or extra premium) for the health condition, or  2. Accepted as it is (no exclusion) or 3. Rejected. Even if it is being rejected, please do not be dismay as it is good to know now rather than having not to disclose the health condition, get the case approved and later after years of paying the premium gets the claim rejected because the insurer found out about the pre-existing illness.

• Free Look Period  Most insurance company have a 15 days Free Look Period or Cooling Off Period, upon the POLICY DELIVERY to you (not cover date). If you feel that the agent did not do a good job in explaining the benefits of the plan, or if you felt mislead by the agent, you can return the policy document (with or without the agent's help) and get a full refund.

• When does my coverage starts and are there any Waiting Period?  Whenever we start a new or reinstate a policy, there are waiting period based on the events.
  

  Benefits	Conditions	Waiting Period	Notes
  Accidental Benefit	All Conditions	Immediately	Pay & Claim
  Medical Benefit	Hospitalization due to Accidents	Immediately	Pay & Claim
  	All Other Illness	30 days	If <= 30 days, not covered. Pay & Claim
  	Specified Illness	120 days	If <= 120 days, not covered. Medical Card
  Critical Illness & PayorBenefit	Heart attack, coronary artery disease and cancer	60 days	Pay & Claim
  	All other illnesses	30 days
  Early Critical Illness	Special Benefits	60 days	Pay & Claim

• My agent left, should I cancel my policy? Insurance is a contract between the Insurer and the policy holder. The agent merely acts as a facilitator to explain and to help you sign up/service the policy holder. Agents too are human who are not immune to accidents, death/disability and critical illness. Should the agent is no longer able to provide service, there are bound to be agents who will eventually take over to provide you with the service. Cancelling a policy especially when the policy is above 5-6 years old is never beneficial to the client.

• Can I transfer the policy to another agent? Yes you can transfer the policy to another agent if you feel that the current agent is not doing you justice by providing you with a bad service. Not only the current agent will lose future business, he may have lost your trust.

• Paying the Premium Directly to the Agent is a BIG NO. It is advisable not to pay the premium directly to the agent as the premium is meant to pay to the insurance company  in order to continue to provide coverage to the policy holder. Instead please opt to pay using Auto-debit (directly to the insurance company), or Credit card payment. Furthermore the agent's job is not to be a debt collector and collect the premium, but rather providing the clients with swift and responsive service during claims. In which area do you want your agent to be proficient with? Being good at debt collection or having excel in the area of claims. Also, there are cases where when the agent collects huge amount of premiums on behalf of the clients, he/she got robbed.

• Nomination Getting yourself the life insurance coverage is just the first step towards your Financial Planning goal. Make sure you review the Nomination from time to time, especially when there are changes, for example when we are single, we nominate our parents, but when we get married, do not forget to nominate your spouse/children. The same goes to the Employee's Provident Funds (EPF).

• Lost Policy Document The policy document is needed in the event of a major claims.  It is a very important document. If the policy document is lost, do contact the agent to re-do the policy document, of which it'll involve getting it reprinted and having to pay stamp duty and going to the Commissioner of Oath. This may delay the claim especially during emergency.

• How long do I need to pay for my Life Insurance? The word "Life" means that the insurance charges needs to be serviced for life. Policies that do accumulate cash values are able to auto-run itself so as to provide the much needed coverage at older age. How long the policy can last whenever the premium is not paid (due to retirement or what not) is much depending on how much cash value the policy has accumulated throughout the years versus the insurance charge that is being imposed by the insurer. When the premiums paid + cash values is lesser than the insurance charge, top ups are required in order to maintain the policy or the policy is in risk of lapsing. Insurance charges will go up by age, irrespective of when you get it. Do refer to the product brochure on how much the insurance charges will be especially at older age 65 onward. Even though you are paying the same amount of premium at older age, if the insurance charges is more than the premium being paid, the variance will be deducted from the cash value in order to support and maintain the policy.

• Can I withdraw cash from my Investment Linked Policy (ILP)? ILP do generate cash values over time, and yes you are able to withdraw at any time. However do note that the cash values are actually there so as to support the policy in older age when insurance charge goes up. Consider the insurance charge is like your car insurance, the older the car, the more the insurer will impose loading (extra premium) due to the risk vs claims ratio.

• I have two medical cards, my company medical and my personal medical card. Can I claim from both medical cards? Yes you can claim from multiple medical cards, provided that the amount being claim does not exceed the hospital bill amount. For example if the hospital bill is RM 60K and the limit for the company medical card is at RM 40K, you can claim the 1st RM 40K from your company medical and the balance of RM 20K from your personal medical card.
  
  Upon discharge from the hospital, you are required to pay RM20K to the hospital and using the original receipt and the letter of discharge from your company insurer to file a claim to your personal insurance.
  
  However you can't claim RM 60K from your company medical and another RM 60K from your personal medical card. The function of the medical card is to reimburse your loss, not for you to make money for personal gain.

• Second Medical Card? Medical inflation keeps going up at a rate of 15% per annum. If possible do review the medical card against inflation once every 5 years. Yes you can opt to have a second medical card, even if you're able to upgrade on the existing medical card. There are several reasons why some people opt for a second medical card as oppose to upgrade on the existing card. The main reason is having diagnosed with an illness that if they were to upgrade their existing policy, it will make the existing medical card that is not having the pre-existing clause to have a pre-existing clause added. In this case, it would be best to add on another medical card to compliment to the old medical card. Any claims that falls under the pre-existing clause can be claimed from the old medical card, whilst any claims that is not under the pre-existing clause can be claimed from the new medical card.

• What claims are excluded in the medical card? For a lists of exclusions, please click here

• Is it possible to claim on the expenses incurred for Dental Surgery as well as for Outpatient treatment at the certified Dental Surgeon? OR I need to undergo a surgery on my wisdom tooth as it is located at the back of my mouth, can I claim from my medical card?  No, sorry. Any expenses incurred for Dental Surgery is excluded, except as necessitated by Accidental Injuries. (Question contributed by HughieRmX @ Aug 21, 2012 from LYN Forum)

• Can I attach waiver to a stand alone medical card? No, sorry, stand alone medical card is not able to attach any riders (Question contributed by Pandah @ Aug 21, 2012 from LYN Forum).

• If I have claimed out RM 20K from my medical card, and I have a RM 100K Life/CI sum insured. Will the RM20K claim reduces the RM100K life/CI to RM 80K? No, it will not reduce the Life/CI amount as the medical card has a separate annual & lifetime limit. Any medical claims will only reduce the annual/lifetime limit and does not affect your cash values or Life/CI claim (Question contributed by Pandah @ Aug 21, 2012 from LYN Forum).

• Multiple policies - If the life assured have several policies, for example a Personal Accident policy of RM 20K, a life policy of RM 100K. If the policy holder pass away due to an accident, how much is his nominee entitled to claim? 1. For the Life/PA portion, the nominees will get to claim RM 120K. 2. If the life assured is a husband and a parent that buys policy for his 5 children with a waiver, all the 5 children's policy will be waived until they has attained the age of 25. 3. If the husband adds in spouse waiver to his wife's policy, her policy will also be waived until the end of the term, for example age 70 or 80 for the medical (Question contributed by Pandah @ Aug 21, 2012 from LYN Forum).