Insurance company refuse to pay!!!

yourfavouritefriend SG

My friend bought an accident policy and recently due to an incident he was hospitalized, he file for claim with the insurance company with all the necessary documents but the company keep delaying payment. What can we do to claim back the money?

FireIce SG

wat kind of policy? wat kind of accident?
the company is delaying payment or refuse to pay? pls be clear.

yourfavouritefriend SG

Accident policy. My friend got himself injured through a normal accident. Although my friend has submitted all the necessary documents like MC, hosipital bills, doctors verfications etc, the company keep dekaying payment by keeping asking for final hospital bills which my friend have already send in serveral times. When my friend contact the company, they will take a long time to reply and mind you, this is a big and reputable insurance company. The best thing is that my friend bought this policy in August 26 and he was injured in Mid-Sept. Throughout the whole month, he was going in and out of the hospital. In Oct, the company send him a email to inform him that his policy has been cancelled because he has not pay his Oct premiums as they were unable to do a giro deductation in his bank account. The problem is my friend has been spending most of his money for hospital bills and there were insufficent funds to deduct from his account. On the first week of Nov, my friend send in a cheque for the Oct + Nov + Dec premiums to the company and the company refused to accept it and inform him that his policy has already been cancelled and return him the cheque payment. The company claims that they are only able to pay compensation from 26Aug to 26 Sept as the coverage is only meant for that particular month. So my point is: why is the company delaying payment since all the documents have been given and why did the company outrightly cease the policy even when my friend send in his payment premiums? I hope I can help my friend because he was terminated by his company due to this accident and have not been working since 25 October. Can anyone advise how I should go about helping this friend of mine, Thanks

TooFree SG

Is this the first time his premium failed to deduct? I thought company normally offer grace period for premium deduction through GIRO the second time if the first payment cannot be sucessfully deduct?

Depending on the insurance contract terms, you may wish to refer the matter to case?

yourfavouritefriend SG

Yes. first time failed to deduct. my friends have send them another email again. if they fail to pay by this wed, most probably will refer this matter to case

likeyou SG

I heard lah, dont know true or not, pple pay faithfully monthly or yearly for the insuranc policies.

But when pple get injuried, it will be danm hard to get compensation for they will ask you this and that, this doc, that doc....until your head spin.....and still get nothing.

Is it true?

I am thinking of cancel my policy (life) and get the money back + interest. No point have life where I cannot feel or touch the money.

parn SG

I thought I already told you all that Insurance are useless?

Anyway, TS shouldn't help his friend, his friend should help himself.

That's what TS's friend would do to TS if TS is the one needing help.

yourfavouritefriend SG

To Likeyou: I will suggest you cancel the policy and instead divert it into accident policy. i was checking out the types and terms of a standard insurance policy and found out that there are many kind of policies in the market. as I am not a cerified insurance person, so I am not able to share about the details however, subjectively speaking, I realized accident policies are more practical and it does not affect our cash flow as compared to life policies terms of commitment

likeyou SG

Hi YFF, ok supposing now I have life policy (those policy that when you mati, you get your money, that is I dont like at all), I wanted to changed to saving policy (at least I can see and spend the money when I retired), how should I do? Any looses I incured? I have already breakeven liao.

Last year I have called up my insurance agent regarding about this (I forget what she told me), she told me I need to cancelled and re apply for saving policy. But then the preimum will be hight (due to my age).

Can you suggest any good option and how to convert it into saving policy without any lost incurred?

Thanks buddy.

parn SG

Don't help your friend out of kindness and naive, you will not see the light of friendship. Your friend will not appreciate your help but will think he deserves to be helped by you because you are trying to win his favors.

Your friend will leave you to die for his personal gain and abandon you to die alone.

You should not have carried away with your friendship, he's not going to stick with you forever and he will eventually betrays you over a girl or for a friend who can give him more benefits.

TS, be wise and learn how to help yourself. Look around you, we are already living in darken times.

PedoBear SG

read my entry at

http://www.sgforums.com/forums/3426/topics/411599

to find out why insurance agents are bastards

dechang SG

Hi.

Which insurance company did your friend buy from?

If not convenient to say out, can send me a pte msg with the name of the company so that I can avoid them in future

yourfavouritefriend SG

I will reveal the name of the company: MSIG

dechang SG

why don't complain to CASE?

yourfavouritefriend SG

yes i will tell my friend that

cyberr1981 SG

I heard lah, dont know true or not, pple pay faithfully monthly or yearly for the insuranc policies.

But when pple get injuried, it will be danm hard to get compensation for they will ask you this and that, this doc, that doc....until your head spin.....and still get nothing.

I heard about that too..... that's why I've no insurance.

cyberr1981 SG

I thought I already told you all that Insurance are useless?

which thread is that? Can elaborate more?

For me, savings are more important because it's easier to access when you need the cash.

dechang SG

I heard lah, dont know true or not, pple pay faithfully monthly or yearly for the insuranc policies.

But when pple get injuried, it will be danm hard to get compensation for they will ask you this and that, this doc, that doc....until your head spin.....and still get nothing.

Is it true?

I am thinking of cancel my policy (life) and get the money back + interest. No point have life where I cannot feel or touch the money.

I think that depends on what type of illness?

If you die in an accident which is very obvious than the insurance company no choice have to compensate your family members.

If you have some very obvious illness like cancer etc than they also no choice but to pay you..

yourfavouritefriend SG

The problem is that it is not an illness at all. It is an accident policy where you get some pay out when you are discharge. My friend was telling me if they do not pay him by this friday, he will call the newspaper and reveal this news to them