What exactly is life insurance and how does it work?

[chootchiew]

i dont think i called them 'financial adviser'
most of the time, they dont understand the product they are selling.
some dont even purchase their own product

most understand little about 'financial.they sell for the sick of commision

The secret of success for these people is ...六亲不认

 

[ykhuser]

The secret of success for these people is ...六亲不认

六亲不认:yes they are.
know of 1 mlm army mates..con me into his office to brain wash me his mlm office
know of 1 insurance agent army mates also,for the sake of convicng me to invest, he will brag about how much $$ he help his clients "port for liu" double
the list goes on

 

[tonychat]

The secret of success for these people is ...六亲不认

that is a sinkie mentality.. i guess you have not encountered REAL rich people. They have great families and network and help each other to succeed.. I am sad for you.

 

[chootchiew]

六亲不认:yes they are.
know of 1 mlm army mates..con me into his office to brain wash me his mlm office
know of 1 insurance agent army mates also,for the sake of convicng me to invest, he will brag about how much $$ he help his clients "port for liu" double
the list goes on

Yeah it happened to me too. A used-to-be-good friend of mine asked me keen to do business with him, . Met him up with his partner, And ended up kena pressured to sign up MLM member. His partner said something like...walau u know your friend so long liao you think he will con you meh.. I was pissed off with this remark by his partner and terminated the 10 years of friendship.

My sis engage his sis-in-law to do property transaction for her, also ended up with conflicts because the sis-in-law withheld certain claused and regulations from her.

list goes on too

 

[chootchiew]

that is a sinkie mentality.. i guess you have not encountered REAL rich people. They have great families and network and help each other to succeed.. I am sad for you.

The sad thing is real rich people live with a mask everyday. I agree they have great families and network of people to conspire their activity and each having their mask on daily. Well. their earnings and profits shall be spent in hell.

 

[ykhuser]

that is a sinkie mentality.. i guess you have not encountered REAL rich people. They have great families and network and help each other to succeed.. I am sad for you.

what had it got to do with rich people?
sucess = rich?

who say we havent encounter real rich people?
i just encounter kee chiu at henderson market last sun with indrasee.
i saw lee at ndp every year

 

[rofthelper]

Sorry, I'm abit unclear on claims.

If I have 1 life policy, 1 term policy and one more policy which is covered by my cmpy.

If I am seriously injured for example I can only claim from one party right?

I only know death payout can be paid from all my policies.

 

[ykhuser]

Sorry, I'm abit unclear on claims.

If I have 1 life policy, 1 term policy and one more policy which is covered by my cmpy.

If I am seriously injured for example I can only claim from one party right?

I only know death payout can be paid from all my policies.

yup i also keen to know.
death payout can claim from how many

 

[rofthelper]

Duplicate Posting

 

[presssomemore]

Sorry, I'm abit unclear on claims.

If I have 1 life policy, 1 term policy and one more policy which is covered by my cmpy.

If I am seriously injured for example I can only claim from one party right?

I only know death payout can be paid from all my policies.

If you are talking about hospital bill reimbursement claim, the rule is that you cannot claim more than what you paid for the hospital bill. Technically you can claim from all 3 policies (provided medical reimbursement benefit is included in the policies), but you cannot double claim on individual item and total amount claim cannot be more than with you paid.

All other types like death, critical illness, accident, hospital daily cash, disability, you can claim from all policies you own provided the benefit is covered under that policy.

 

[Cestbon]

If you are talking about hospital bill reimbursement claim, the rule is that you cannot claim more than what you paid for the hospital bill. Technically you can claim from all 3 policies (provided medical reimbursement benefit is included in the policies), but you cannot double claim on individual item and total amount claim cannot be more than with you paid.

All other types like death, critical illness, accident, hospital daily cash, disability, you can claim from all policies you own provided the benefit is covered under that policy.

Agree. Medical bill cannot double claim.
Other benefit like daily cash benefit/MC can claim all policy.
That why I always fuck those telemarketing talk cock can claim more if buy more policy. Since I already buy from other insurance.

 

[fukyuman]

Iife claims usually comes with death from all causes, total and permanent disability like loss of limbs.

General insurance are payable on death due to accidents to medical claims. They also cover illness and hospitalisation. There are lots of restrictions involved like co-payments. These are waived if you are over-insured. You should therefore buy what your medishied not not cover. Your con-agent may not tell you that so you may buy in excess that cannot be claimed. Some agents may sell you a daily cash claim for each day of hospital stay. but you have to figure out the odds to see if it is worthwhile instead of saving up for the rainy day,

Sorry, I'm abit unclear on claims.

If I have 1 life policy, 1 term policy and one more policy which is covered by my cmpy.

If I am seriously injured for example I can only claim from one party right?

I only know death payout can be paid from all my policies.

 

[ykhuser]

Agree. Medical bill cannot double claim.
Other benefit like daily cash benefit/MC can claim all policy.
That why I always fuck those telemarketing talk cock can claim more if buy more policy. Since I already buy from other insurance.

why dont you record the voice of those telemarketing..and sue those company for fraud.i m sure they more wiling to settle out of court rather than the public know s it

 

[eErotica69]

Agree. Medical bill cannot double claim.
Other benefit like daily cash benefit/MC can claim all policy.
That why I always fuck those telemarketing talk cock can claim more if buy more policy. Since I already buy from other insurance.

They normally ask you buy Hospital Income Plans and that can claim from more than one insurer.

 

[Thick Face Black Heart]

Let's cut to the chase.

I challenge anyone in this forum -- whether you are an insurance agent or not -- to tell this forum ONE story of a family who bought whole life insurance, and one day, the life insured passed away naturally and they made a claim and everyone was financially secure from then on. MUST BE natural death -- not some early death due to a freak accident or some form of sudden critical illness.

Just one story -- of a family becoming secure as a result of an insurance claim on a natural death.

Insurance is only meant for protection in the early years of your career. Not for your family to benefit when you grow old and die peacefully in your sleep at 80 or 85. Tell me just one story to prove me wrong.

 

[presssomemore]

Let's cut to the chase.

I challenge anyone in this forum -- whether you are an insurance agent or not -- to tell this forum ONE story of a family who bought whole life insurance, and one day, the life insured passed away naturally and they made a claim and everyone was financially secure from then on. MUST BE natural death -- not some early death due to a freak accident or some form of sudden critical illness.

Just one story -- of a family becoming secure as a result of an insurance claim on a natural death.

Insurance is only meant for protection in the early years of your career. Not for your family to benefit when you grow old and die peacefully in your sleep at 80 or 85. Tell me just one story to prove me wrong.

Brother,

If by natural death you mean "die peacefully in your sleep at 80 or 85", your children will most likely be all grown up and already financially independent. ie. don't need your insurance claim to survive.

If I have a have a whole life insurance policy, when I reach 60-65 and haven't die and all my kids are grown up, I'll probably surrender the policy and take out the cash values. Maybe invest half in unit trust with fixed regular withdrawal, 1/4 in fixed deposit, balance put in saving account to supplement my monthly usage or occasional oversea tour.



BTW, who's chasing who? :P

 

[Thick Face Black Heart]

Brother,

If by natural death you mean "die peacefully in your sleep at 80 or 85", your children will most likely be all grown up and already financially independent. ie. don't need your insurance claim to survive.

If I have a have a whole life insurance policy, when I reach 60-65 and haven't die and all my kids are grown up, I'll probably surrender the policy and take out the cash values. Maybe invest half in unit trust with fixed regular withdrawal, 1/4 in fixed deposit, balance put in saving account to supplement my monthly usage or occasional oversea tour.

If you're going to surrender your policy at age 60 or 65, whole life insurance is a bad idea. The returns will be worse than other financial instruments due to the various commissions and charges I have described (and which obviously you know as well as I do).

The point of my post is that very few people leave their policies till they die at 80 to 85 for their offspring to claim. They are therefore buying into something which has been structured to last many decades, but which the client will inevitably cash out at a much earlier stage, just like you said you would cash out upon your own retirement. Hence, there will be little financial benefit to the client. In fact, for all the premiums he has put it, he will suffer a severe loss of purchasing power.

 

[yinyang]

Good discourse (on life insurance). Seems if you are hit by the bus in early years, the payout is a windfall. As opposed to when you are at throes of passing on at old age, returns don't look great especially if one ponders on question of surrendering same (declining value over time?). Guess the insurance blokes will justify you paying for 'protection' and 'estate' (SOP??):p

Asides, my biggest beef on insurance agents is they can be a blxxdy nuisance in bugging daylights of you with 'new' (investment linked) products etc. No interest in reviewing existing portfolio. One Prudential fellow even had 4 mobile nos (hard to keep up to 'siam' 1st known no. kns).

I have bought a couple of small unit trusts via my bankers, without the hassle of being bothered endlessly. Reviews are available via e-banking (if you care to go through) or say bi-6months if you want to. The bank fellow explained tha remuneration (incentive) system for agents are incentive biased.

 

[ykhuser]

my agent alway tell me how much he help his clients to profit by investing in stocks...
in my mind...i alway think is bullshit.but i dont want to upset anybody like tonychat u see..
the only insurance i had is 100% coverage for hospital bill
and aviva total disability or death

rest is all bullshit
how about you guys?

 

[Cestbon]

They normally ask you buy Hospital Income Plans and that can claim from more than one insurer.

Medical bill can claim 3 time bo if I buy from 3 insurer.