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You are here: Home / Archives for Frequently Asked Questions / FAQs on Insurance

You are viewing articles categorised under FAQs on Insurance

What is meant by utmost good faith (uberrima fides)?

23, December 2018 by Wilfred Ling Leave a Comment

When applying for insurance, the principal of utmost good faith applies. The Latin equivalent of 'utmost good faith' is uberrima fides. The principal of utmost good faith or Uberrima fides means you have to declare all material information – those you know and ought to know. If in doubt, just declare it. You cannot go wrong “over declaring” it but you can go very wrong if you do not declare it. … [Read more...]

Filed Under: FAQs on Insurance, Insurance

What happens if I am unable to pay for the hospital bill?

16, January 2010 by Wilfred Ling Leave a Comment

The following is the procedure on what happens if you are unable to pay for the hospital bill: Restructured Hospital Arrears. Hospital will send the patient a reminder Another remainder via telephone and mail Send debt collection agency (licensed ah-long) At any point in time, if the patient express problem paying the hospital bill, other options will be explore such as "restructure" … [Read more...]

Filed Under: FAQs on Insurance, Insurance

What is Private Integrated Shield Plan and Medishield?

22, December 2009 by Wilfred Ling Leave a Comment

All Singaporeans automatically are opted into the Basic Medishield when their CPF account is first opened. This is typically when they start their first job. For those who want a better coverage, they would look at those “enhanced” shield plans called the private-integrated shield plans. Why are they called integrated shield plan? When a person buys a private shield plan, the Basic Medishield … [Read more...]

Filed Under: FAQs on Insurance, Insurance

Can an obese apply for insurance?

11, October 2009 by Wilfred Ling Leave a Comment

I have seen increasingly number of clients who are obese. ALL of them came to me for help because they were rejected when applying for insurance through other advisers. Frankly speaking, for these groups of individuals, they have been ill advised by their advisers because special consideration is required for these groups of individuals applying for insurance. What exactly constitutes obesity? The … [Read more...]

Filed Under: FAQs on Insurance, Insurance

What is the role of the adviser during claims

25, July 2009 by Wilfred Ling Leave a Comment

During insurance claims, the duty of the adviser is: To check that the policy which the claim is made against cover the intended risk; To advice the policyholder the documents to prepare for claim submission; To submit the documents to the insurer. The policyholder can also do it as all insurers have a customer service center to accept walk-in enquiry; If the claim is rejected, the … [Read more...]

Filed Under: FAQs on Insurance, Insurance

What are the considerations when buying a private medisave-approved integrated shield plan?

28, June 2009 by Wilfred Ling Leave a Comment

When applying for a medisave-approved integrated shield plan, you should consider whether the product: Covers congenital conditions and if so under what terms and conditions; and Whether it covers pre-existing conditions and if so under what terms and conditions. If you already have an existing pre-existing conditions and you have never been considered as under a sub-standard case in any … [Read more...]

Filed Under: FAQs on Insurance, Insurance

Can you tell me which insurer has the worse reputation?

28, June 2009 by Wilfred Ling Leave a Comment

I am not able to tell you this in the public as the insurers will be quick to issue lawyers’ letters to me. Nevertheless, in Singapore history many insurers have earned themselves a very poor reputation for mis-representations and treating their policyholders unfairly by focusing too much on profitability. The older policyholders will know which of these insurers are but the younger customers will … [Read more...]

Filed Under: FAQs on Insurance, Insurance, Unethical sales process

What is meant by preliminary underwriting for pre-existing condition?

28, June 2009 by Wilfred Ling Leave a Comment

If you have a pre-existing condition or if you have a family history suffering from certain conditions, you may want to consider preliminary underwriting. Preliminary underwriting is a process which a financial adviser assists you to find out from which insurers are likely to offer you the best terms and conditions in view of your pre-existing condition. It is best to approach a financial … [Read more...]

Filed Under: FAQs on Insurance, Insurance

What is insurance?

23, June 2009 by Wilfred Ling Leave a Comment

For some of you, you have a great responsibility in taking care of your family. Your dependents rely on you to provide for them. You are worried about the financial implications to your family if anything happens to you. The good news is that most of such financial risks can be mitigated. Risks can be mitigated through: Risk avoidance (if the sky is dark and might rain, eating indoor … [Read more...]

Filed Under: FAQs on Insurance, Insurance

Why is disability Income insurance important?

19, June 2009 by Wilfred Ling Leave a Comment

I have written a magazine article for this on the importance of disability income, it can be downloaded from this link: Get Paid for Being Disabled. … [Read more...]

Filed Under: FAQs on Insurance, Insurance

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