Terminal Illness or not?

[RayOfLight]

correct me if i am wrong, with TI covered i assume the payout will be once TI is diagnosed, without TI covered, the payout will only be paid after death. TI is confirmed death right? are there such cases as where TI is diagnosed but later cured? I mean TI is supposed to die within a few months right? am i right to say that the main difference is just early or late payout?

i am looking for joint mortgage insurance (MRTA) solely for my house.
hsbc insurance offers the cheapest but does not cover TI, only death and TPD. is it advisable to pay more to have TI coverage? i know some may advise to get normal term insurance but i just want coverage just for the house since i already have other insurance. of course my other insurance is not enough to cover that's why i need this joint mortgage insurance.

 

[Relia_tan]

Hello RayOfLight

TI is diagnosed when the doctor pens down that a patient will be dead after X period of time, a good gauge will be 1 year and below. Should the patient miraculously recovers and is cured from that diagnosed, there is no penalty to the payout derived from the TI.

 

[RayOfLight]

let's say my insurance covers TI, upon diagnosed, should the payout be released already? if yes, and in the case of cured, then need to pay back?

 

[wts2013]

moi got insurance to cover CI only, my friend diagnosed with CI, got big payout, still alive/recovered.

CI vs TI? what is your purpose/need for cover? hahaha

 

[RayOfLight]

i don't need CI, already have CI coverage.

just wanna compare death+tpd vs death+tpd+ti. the current quote that i have now is the around $3000+ diff in terms of the entire premium ($100+/annual). just wanna know if it's worth it for the top up to get the 'TI'

 

[Shion]

iirc TI in insurance = within 12 months will kick the bucket

 

[RayOfLight]

iirc TI in insurance = within 12 months will kick the bucket

so if my insurance covers TI, upon diagnosed I will be paid right? and if miracle happens that I didn't die, what will happen?

so the difference between with or without TI is take payout on diagnosed or payout on death.

 

[Henrypoo]

If you kena TI but never die within 12 months. You consider very lucky and dont need to pay back the payout. But how fast you can receive the claim depends on your insurer liao.

 

[RayOfLight]

If you kena TI but never die within 12 months. You consider very lucky and dont need to pay back the payout. But how fast you can receive the claim depends on your insurer liao.

so when will be the payout upon diagnosed with TI? immediate or after 12 months?

 

[Henrypoo]

Upon diagnosis you can claim already. But with relevant claim form, aps and document required by insurer. The doctor must be certified by insurer.

 

[RayOfLight]

Upon diagnosis you can claim already. But with relevant claim form, aps and document required by insurer. The doctor must be certified by insurer.

so how about for miracle case where was diagnosed but was eventually cure? not sure if will be such cases. having said that, it's recommend to pay extra 3K for the entire premium to have TI covered instead of only death and TPD?

 

[Shion]

How come you need to pay extra for TI coverage

If after you claim your money and recovered from the illness, good for you

 

[Henrypoo]

If you are diagnosed but eventually cured. You dont need to return the payout ma. Miracle do happen lol. For TI it is embedded in death or ci. Why your one got extra premium sia

 

[RayOfLight]

not extra.. I am comparing 2 different coy.. 1 with TI and 1 without TI..