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travel insurance to avoid
By Patrick Lim  •  January 29, 2012

ms teo siew hoon's letter; captioned: travel insurance to avoid was published in the st forum online on saturday.

in her letter, ms teo recounted her claim's experience with general insurer, chartis on her damaged luggage which took almost 4 weeks (add another 2 weeks after her claim submission) for her to be informed to obtain a quotation to repair her luggage and send it to her insurer.

as a comparison, ms teo cited that if she had made a similar claim for damaged luggage to an airline, the latter would probably pick up the luggage, assess the repair and inform quickly whether the luggage would be repaired and returned or replaced.

she ended by expressing her hope that other insurance companies do not make their customers wait the way chartis has done.

my comments:

as a financial planner and a traveler myself, i can empathise with ms teo over ......
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By Patrick Lim
Patrick is an Associate Director with Promiseland. He has more than 20 years of personal investment experience both in stock and shares and unit trusts. In his early years as an investor, he got burnt really bad in the infamous 1987 crash and again during the clob incident. With 2 decades of so-called battle scars behind him, the last few years (since 2003) have been good to him especially with his single country funds doing exceptionally well. On his investing style, he is both a technical analyst and fundamentalist. Patrick view wealth accumulation as part and parcel of the wealth management process but only if one has already executed his/her wealth protection planning on an on-going basis.
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