Stories on Life Insurance Claims and Disputes as reported in The Star Newspaper, 27th January 2012 make interesting reading (You can also read online at http://thestar.com.my/news/nation/ )
Consult a doc and read the fine print before signing up for a health policy
WHEN is a heart attack not a heart attack? When it does not fit into the definition that appears in fine print on an insurance policy.
Cases abound of insurance companies rejecting claims of critical illness even after doctors have confirmed it.
But the news is not all bad: The Financial Mediation Bureau has ruled many times against nit-picking insurers.
(Frankly, there should also be reports on appeal cases which had been rejected by the FMB to proof that there are also irresponsible policyholders trying to make fraudulent claims against the Insurer by fabricating the medical report, faking injury, inflating the medical bill, backdating of cover, non-disclosure of pre-existing illness and so on)
Even so, our investigations show that you should not sign up for a health policy without first consulting a doctor to save yourself heartaches in the future.
(Consulting a doctor before you sign up the health policy? You think its for free or charges apply? Your take)
Related Stories:
Hundreds of true-life trials of the insured
Association takes steps to rectify weaknesses
what I feel about life insurance is that it gives total protection to family members. In case something happens to the bread earner who is the policy holder, the funds will go the nominee.
ReplyDeleteThe first step to filing an insurance claim dispute is to read your policy and understand the process--especially the timeframe allowed for filing such a claim.
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As the beneficiary, you must have the original documents related to the policy. confirm that you just even have copies of these, just in case they're going to be required. confirm that you just have all the documents required before process the claims.
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William Martin
Financial Claims Made Simple
Before taking any insurance policy you must know the various clauses that may work against you with any mishap.
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William Martin
PPI Claims Made Simple
A lot of people are investing in life insurance policies, so that it can help their loved ones financially in case of their death
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