Questions on PruShield

[AhPek_Lion]

Originally Posted by stiener

My previous education savings policy was also affected. After reducing its bonus and interest payout, my projected maturity return+capital felled from $131k to $90k and chances are that it may continue to drop. Although illustrations are subject to change but by this margin is beyond my acceptable range.

Is pruflexi cash an ILP? My understanding is that 21K premium paid does have a portion that goes into your fund prices and thus it is based on the performance of the funds. It is a general picture no matter which insurance company you get your ILP from right?

Pruflexi is an ILP. They invest it in more overseas bond den local bond. However, the agent oni told me that it was invested in Local Bonds; making roads and houses ,.... those kind of bonds. So he claimed that this kind WILL SURE MAKE...WONT LOSE

Now i have the form with me....it clearly stated that local bonds were the minority

[xjieke]

Hi,
I was searching for some information and had come across your conversation in the forum.

From what I gather from your conversation, they are all surrounded by Pru, NTUC and AIA. Does anyone of your consider Great Eastern?

There is a comparision on PruShield earlier. I will just put an example:
Add on perks on Stem Cell treatment, As charged. there is an additional clause in the contract stated that terms and condition. Insured must go through other treatment before they can ntake up the stem cell treatment.

And for shield plans, there are deductible and co-insurance of 10%. Deductible varies is the type of ward you stay. This is not what the insurance company wants, but what the government plan to prevent overcrowding in the hospital.

If you are choosing a financial planner or insurance agent, you should get them to explain about the contracts cause in the event of claims, these are the terms and condition that the insured will need to depend on. And you cannot say that you do not know that you cannot claim from this or that etc. And that is the point when you find yourself being cheated by the insurance agent. It doesn't matter whether you know the person or not. If you know the person and he is doing a good job, that is fine. If you know the person and he does not brief u in detail and when things turn bad who is going to be responsible?

I as a insurance agent from Great Eastern believe that explaination and fact finding should be done in the beginning stage. There will be alot of work to be done, getting medical report, getting the signature for documents etc. It is very tedious. But after all these work, the follow up will become easier and there will be less hassle for the insured in the event of claims. If there is any insurance agent who read this, Please pay more attention to this.

If there is any statement that I had made that is incorrect or if there is any enquiries do drop me an email.

Regards,
Justin
xjieke@yahoo.com.sg

[koreanlover]

I happened to pass by a Prudential roadshow and was introduced to PruShield.

The financial consultant said that for Medisave, if you are below 65 when you pass away, the balance in Medisave will be given to your nominee(s), or in accordance to interstacy laws. If you are above 65 however, then the balance will be confiscated by the Government!

However, the following is what I found at CPF's website:

Originally Posted by CPF Website

Q: What happens to my Medisave balance when I die?

A:

Your Medisave balance would be used in full, without being subject to the existing Medisave withdrawal limits, to pay your last medical bill if you pass away on or after 1 July 2006 during hospitalisation, and had authorised to use your Medisave to pay the bill before your demise.

If you had not signed the Medisave Authorisation Form (MAF) before your demise, your immediate family members (spouse, parents, or child who is 21 years and above) or committee of person could also sign the MAF to use your Medisave to pay your last inpatient medical bill, provided it has not been paid out to your nominee(s). In the event that you do not have any immediate family members or committee of person to sign the MAF, a relative who has been taking care of you may also write in to the Ministry of Health through the hospital to seek approval for him to authorise the withdrawal of your Medisave to pay your last inpatient medical bill.

The remaining Medisave balance, after the payment of the last medical bill, would be distributed by the Public Trustee to your family members under the intestacy laws for non-Muslims or the Muslim inheritance law for Muslims, if you had not made a nomination. If you wish to distribute your Medisave balance differently, then you would have to make a nomination, if you have not made one yet.

So is this another case of misrepresentation?
Thanks.

[zhiz22]

Yes that is clearly a misrepresentation to make you feel like your medisave is not very useful.

[koreanlover]

Originally Posted by koreanlover

I happened to pass by a Prudential roadshow and was introduced to PruShield.

The financial consultant said that for Medisave, if you are below 65 when you pass away, the balance in Medisave will be given to your nominee(s), or in accordance to interstacy laws. If you are above 65 however, then the balance will be confiscated by the Government!

However, the following is what I found at CPF's website:



So is this another case of misrepresentation?
Thanks.

Ok I met up with the financial consultant again and he claimed that what he told me the first time was what he studied for during the CMFAS exam during that time.

Can anybody confirm if this was true?

Thank you!

[zhiz22]

Originally Posted by koreanlover

Ok I met up with the financial consultant again and he claimed that what he told me the first time was what he studied for during the CMFAS exam during that time.

Can anybody confirm if this was true?

Thank you!

Ask him bring his cmfas text to show you

[MoneyWise]

Originally Posted by koreanlover

Ok I met up with the financial consultant again and he claimed that what he told me the first time was what he studied for during the CMFAS exam during that time.

Can anybody confirm if this was true?

Thank you!

LOL
Competition is tough, 'they' really tok nonsense to get ur business.

[randomystique]

i see so many agents trying to creep up on one guy.. lol