Integrated shield plans

[firsttimebuyer]

If you want to do this, you need to be very very very accurate and precise. Else it might go into a mess.

1. The redeclaration is basically for declaration at the point BEFORE you bought your ISP. Check and read the form.
- This means you only need to declare Asthma.
- This means you do not need to declare conditions you developed after you bought the ISP.

2. Asthma declaration may or may not lead to exclusion.
- Depends whether you still have any follow-up, and if you are still having medication.
- If no longer having relapse, then they will typically look at when is the last occurence
- What type of medication used?
- Any extended leave/hospitalisation due to Asthma.

This is very useful advice.



I reached out to various insurance agents for assistance.

Four agents (three from the same insurer that issued the policy, and one from a different insurer) were consulted, and each provided different responses:

An agent from the same insurer stated that there was no requirement for re-declaration.

Another agent from the same insurer advised to declare all conditions, including the mental health issues diagnosed five years after the policy's purchase. However, the agent cautioned that this action could lead to the complete voidance of the policy by the insurer.

Two agents, one from the same insurer and another from a different insurer, asserted that only conditions existing before the policy's purchase need to be re-declared. They argued that, according to contract law, the insurer is bound by the terms and conditions in effect at the time of policy purchase.

 

[firsttimebuyer]

That is why I don’t understand why need to declare and get excluded for this if this is only diagnosed after signing? Or is within the window period?

I understand your confusion.

I am also similarly confused. Part of it is because I have been told by some agents that I need go declare, while other agents said that I don't need to (see post #167 ,for more details)

 

[soneat]

This is very useful advice.



I reached out to various insurance agents for assistance.

Four agents (three from the same insurer that issued the policy, and one from a different insurer) were consulted, and each provided different responses:

An agent from the same insurer stated that there was no requirement for re-declaration.

Another agent from the same insurer advised to declare all conditions, including the mental health issues diagnosed five years after the policy's purchase. However, the agent cautioned that this action could lead to the complete voidance of the policy by the insurer.

Two agents, one from the same insurer and another from a different insurer, asserted that only conditions existing before the policy's purchase need to be re-declared. They argued that, according to contract law, the insurer is bound by the terms and conditions in effect at the time of policy purchase.

Everybody provide different response is expected..........
In addition, don't expect the agent/customer service/legal team from the insurers to know 100% what they are saying.

1. Agent 1 from same insurer. Of course there is no requirement for redeclaration. This is up to you. His/her statement is not wrong.
2. Agent 2 from same insurer. This response is questionable because the objective is to re-declare conditions before the policy is in-forced, for the insurer to evaluate if there are material information which may affect the underwriting.
3. Agent 3 and 4 is correct. Your policy is basically a contract between yourself and the insurer. All insurers will state your application, along with any form you submitted, the policy schedule, their own T&C/Policy Conditions, endorsements etc constitute part of the contract.

My advice is to be critical and astute on what people tell you VS what you intent to achieve.
- Understand what you want to achieve (bullet proof contract which leaves no room for the insurer to declare the policy is void)
- Take the correct steps to achieve your objective (understand what information needs to be provided, and what are the keywords junior/AI underwriter looks at to derive a standard underwriting outcome).

 

[reddevil0728]

This is very useful advice.



I reached out to various insurance agents for assistance.

Four agents (three from the same insurer that issued the policy, and one from a different insurer) were consulted, and each provided different responses:

An agent from the same insurer stated that there was no requirement for re-declaration.

Another agent from the same insurer advised to declare all conditions, including the mental health issues diagnosed five years after the policy's purchase. However, the agent cautioned that this action could lead to the complete voidance of the policy by the insurer.

Two agents, one from the same insurer and another from a different insurer, asserted that only conditions existing before the policy's purchase need to be re-declared. They argued that, according to contract law, the insurer is bound by the terms and conditions in effect at the time of policy purchase.

I understand your confusion.

I am also similarly confused. Part of it is because I have been told by some agents that I need go declare, while other agents said that I don't need to (see post #167 ,for more details)

so who you planning to listen to?

 

[firsttimebuyer]

My advice is to be critical and astute on what people tell you VS what you intent to achieve.
- Understand what you want to achieve (bullet proof contract which leaves no room for the insurer to declare the policy is void)
- Take the correct steps to achieve your objective (understand what information needs to be provided, and what are the keywords junior/AI underwriter looks at to derive a standard underwriting outcome).

1) my new agents verbally says no need to declare conditions AFTER in-force but don't dare to put it in writing, which makes it suspicious
2) I emailed GE but they keep relying on a standard email template that says "declare all pre-existing conditions" without specifying whether or not it applies to those conditions incurred after in-force

 

[a4973]

1) my new agents verbally says no need to declare conditions AFTER in-force but don't dare to put it in writing, which makes it suspicious
2) I emailed GE but they keep relying on a standard email template that says "declare all pre-existing conditions" without specifying whether or not it applies to those conditions incurred after in-force

Then I will declare because that appears to be GE's default stand.

 

[firsttimebuyer]

Then I will declare because that appears to be GE's default stand.

Looks like that is the way to play safe. Actually, I did send the list of conditions that occurred, after policy in-force, via written email, to my agent........does that count (yeah, I know, stupid question)?

 

[firsttimebuyer]

Then I will declare because that appears to be GE's default

How strong is my legal case if the insurance company decide to terminate my policy based on conditions after policy in-force?

 

[reddevil0728]

1) my new agents verbally says no need to declare conditions AFTER in-force but don't dare to put it in writing, which makes it suspicious

Cause it’s based on logical understanding of how things work but not in writing by the insurer cause for the insurer they obviously are more risk averse.

2) I emailed GE but they keep relying on a standard email template that says "declare all pre-existing conditions" without specifying whether or not it applies to those conditions incurred after in-force

Yea because they would rather know than dunno. Risk averse ma

Then I will declare because that appears to be GE's default stand.

Just need to be aware of the consequences

Looks like that is the way to play safe. Actually, I did send the list of conditions that occurred, after policy in-force, via written email, to my agent........does that count (yeah, I know, stupid question)?

Hmm if stupid qns, why still ask? Lol

Ur agent is not the insurer, so if they don’t forward it to the insurer then technically no?

How strong is my legal case if the insurance company decide to terminate my policy based on conditions after policy in-force?

No case if it’s in line with t&cs?

 

[firsttimebuyer]

If you want to do this, you need to be very very very accurate and precise. Else it might go into a mess.

You are right, it is a mess, and a big mess because I realised that customer service is not actually reading emails and just blindly copy-and-paste answers.