Critical Illness claim

[soneat]

Can share once claim for CI for nose cancer the policy will lapsed correct? 10 years later die that policy pay out again to dependants?

It really depends on the T&C of the insurance contract.

Typically, the basic sum assured covers death event. There are usually riders such as TPD, CI, ECI that accelerate the death payout.

 

[calbeee]

what was the trade-off for you to determine whether something is worth it?

What I've said isnt relevant anymore as I've decided to push for an appeal regardless the outcome. Never try, never know.

 

[aeng]

Hi, for point 2, if partial claim is paid out does the policy still remain active with a reduced balance coverage? Is the premium still the same? Thanks.

For point 4, I believe it is not a matter saving $ for the company but to avoid every claim becoming a "case by case appeal" creating a precedent.

I think it depends on the company but IMO, highly unlikely insurers will take the risk.

 

[aeng]

Can share once claim for CI for nose cancer the policy will lapsed correct? 10 years later die that policy pay out again to dependants?

once a CI claim is successful, then that part of your policy is terminated and no longer in effect.

No money will be paid 10 days/months/years later if the CI has already been claimed once, unless you have a multi-pay policy.

My Singlife term insurance still in force, but my CI is gone for good.
Highly unlikely any insurers will insure me for CI in the future unless I insure for something specific, or the policy excludes the CI I previously claimed for.

 

[sohguanh]

once a CI claim is successful, then that part of your policy is terminated and no longer in effect.

No money will be paid 10 days/months/years later if the CI has already been claimed once, unless you have a multi-pay policy.

My Singlife term insurance still in force, but my CI is gone for good.
Highly unlikely any insurers will insure me for CI in the future unless I insure for something specific, or the policy excludes the CI I previously claimed for.

So it is like below scenario correct?
1. Death + TPD
2. CI rider
You claim CI so item 2 will be gone for good but Item 1 is still valid. This mean later if you kena for Item 1 that is still payable out to dependents correct?

 

[reddevil0728]

So it is like below scenario correct?
1. Death + TPD
2. CI rider
You claim CI so item 2 will be gone for good but Item 1 is still valid. This mean later if you kena for Item 1 that is still payable out to dependents correct?

If I’m not round only the difference will be paid

 

[sohguanh]

If I’m not round only the difference will be paid

So you saying like below scenario
1. Death + TPD
2. CI rider
The BSA is say 100K. Claim CI insurer say payout 50K. This mean later if you kena for Item 1 insurer pay the difference of 50K and not 100K correct?

 

[reddevil0728]

So you saying like below scenario
1. Death + TPD
2. CI rider
The BSA is say 100K. Claim CI insurer say payout 50K. This mean later if you kena for Item 1 insurer pay the difference of 50K and not 100K correct?

yea

 

[sohguanh]

yea

Thanks it make sense from insurer point of view too. Who will do lose monies business.

 

[aeng]

So it is like below scenario correct?
1. Death + TPD
2. CI rider
You claim CI so item 2 will be gone for good but Item 1 is still valid. This mean later if you kena for Item 1 that is still payable out to dependents correct?

yes, that's right

 

[aeng]

yea

depends on the policy and how it's structured.

for my singlife term policy, there are separate amounts for ECI, CI and death/TPD.
My CI has been "used up" but my death/TPD and ECI insurance is still in force.

For my AIA CI claim, I got close to the full amount for my entire policy but there's still about 50% of the original death benefit remaining.

 

[reddevil0728]

depends on the policy and how it's structured.

for my singlife term policy, there are separate amounts for ECI, CI and death/TPD.
My CI has been "used up" but my death/TPD and ECI insurance is still in force.

For my AIA CI claim, I got close to the full amount for my entire policy but there's still about 50% of the original death benefit remaining.

even for the case of rider?

 

[aeng]

even for the case of rider?

well, I can only speak about my own case.
in my case, yes.

 

[purpletaint]

I tell you what's gonna happen bro.

you file the claim -> rejected cause haven't fulfilled permanency definition.
they'll ask you to review again in 6 months? 1 year? But if your condition isn't even permanent to begin with, (im assuming you're filing for a stroke where you'll require permanent neurological deficit) then you can kinda circumvent this by requesting for an independent assessment and acting like a fool (show signs of neurological deficit ez money )
get the $$$ and enjoy life

U can thank me later.

 

[purpletaint]

even for the case of rider?

depends if your CI rider is additional or accelerated. additional means lump sum CI cover ontop of your basic (DTH , TI , TPD) . if accelerated, (cheaper) will offset like what yall mentioned. HMU FOR SOME POLICY COVERAGE BOIS