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Agree with A Singaporean that most agents would just want to get as many transactions as they can. In my case, i didnt know that my parents had bought a shield plan for me and i signed up with another shield plan unknowingly, resulting in my previous shield plan to be cancelled. As such, i was not covered for my preexisting condition and now i have to purchase more CI coverage (with additional loading fees) to cover for this condition.Reply
Sorry to hear about your case. Did this happen recently, or quite some time back?Reply
This is a sure sign that products and paperwork are getting way too complicated. People often don’t know exactly what they are buying, and agents often don’t bother to explain, simply asking clients to just sign here and there. I think few agents would be like you, bothering to check up on what the client already has. Most agents would just want to get as many transactions as they can, and close each transaction as fast as they can.Reply
Hehe, I think most of the time, the agent/banker will tell us where to sign, and we sign without reading, becuz we trust the agent/banker, and/or we are too lazy to read the documents.
We get in trouble when what the agent/banker said is different from what is printed on what we signed.Reply
I bought e new shield plan some time back but it was only recently that i was made known that pre-existing conditions will not be covered.
Actually i have bear part of the blame for trusting the agent too much and not calling up the insurance company to enquire. Previously, I had asked e agent what’s the impact when i received the letter notifiying me that my old shield plan (e one my parents bought) was cancelled and the agent told me that there’s no difference and i can ignore the letter. And so i did, foolishly….
No choice now, gotta pay more to get coverage for my pre-existing condition.
It’s really commendable that you actually help ya clients check their previous records before selling the product. Most agents wont do that. In my case, my agent left after a yr, the agent who took over also left after a yr and mine became an orhan policy. Had to practically beg someone to take over my policy when i wanted to upgrade the shield plan as the insurance company do not deal direct with applications.Reply