Posted on September 5, 2009 - by Adrian Khiat

Money not equal to guaranteed insurance cover

Photo by zedzap

In an application form to get more insurance coverage, it contains many questions ranging from personal particulars, existing insurance coverage, current health condition, past medical history as well as family health background, etc.

I’m always worried whenever I encounter a client with pre-existing conditions, negative family health background or client having some sort of surgeries before. There can be a lot of work involved ranging from applying with different insurers, arranging client for medical check-ups, insurers requests for questionnaires and medical report from specialist, etc. End of the day, the chance is high that we don’t get anything for all the time spent.

Many clients will give up the application along the way as there can be a lot of inconvenience caused over a period of time. It can also be a challenge to convince the client to take up the plan with a loading or exclusion.

There are a few reasons that they give up.
* They don’t believe that their condition is an issue and its an over-reaction by the insurance company to request for this and that.
* They do not see the urgency to get the insurance done. They feel that it is too troublesome and time consuming.

I just like to share a few of my recent cases: Read more…

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3. Insurance should protect against your worst case scenarios