Special Term On Your Life Insurance Policies? Want To Ask For A Review?

Mon, Mar 24, 2014

Insurance

A lot of my clients, when they signed up life insurance plan with me, they were not in their best of health. Inadvertently, what happened, is that, insurance company, add in an exclusion clause, reduces coverage or perhaps add loading (pay extra premium) on their insurance policies, and that is normal. Insurance companies need to manage their risk.

Nevertheless, policyholders whose policies are imposed with Special Terms can ask for a review if their medical condition improves.

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Below are some important points to note:

1. Policy review can be done at anytime.

2. Submit Review of Special Terms form with the latest medical reports through your financial consultant.

3. As policyholders are making the request to improve the special terms, the costs of the medical examination and reports will be borne by the policyholder.

4. If he wants the insurance company to extract the report on his behalf, we can help but the cost is also paid by the policyholder. In addition, the doctor will be providing the report to the insurance company in confidence. Hence we are unable to release the report to the policyholder if he requests for it.

5. As reviews involve medical examinations or waiting for medical reports, it will usually take between 2 weeks to 1 month for us to complete the review. Some may take more than 1 month while we wait for medical attendant reports.

 

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This post was written by:

- who has written 435 posts on The Official Helmi Hakim Website.

A certified financial consultant, Helmi Hakim has won praise for his patience, perseverance and practicality when solving his clients' financial concerns. For more information on how you can manage your finances better, contact Helmi Hakim at 96520134.

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