Dead Ferrari driver’s estate valued at S$8.1 million
- Thread starter ipoh-horfun
- Start date
Centurion9990
Well-Known Member
Re: Dead Ferrari driver’s estate valued at S$8.1 million
Insurance companies are run by business people after all, profits driven. Imagine someone who bought critical illnesses insurance, got early stage cancer but insurance company says must hit stage 4 and match the conditions stated in the contract then get payout. Such cases happen everyday.
MW;872722 said:
Insurance companies are run by business people after all, profits driven. Imagine someone who bought critical illnesses insurance, got early stage cancer but insurance company says must hit stage 4 and match the conditions stated in the contract then get payout. Such cases happen everyday.
Re: Dead Ferrari driver’s estate valued at S$8.1 million
actually u are wrong. You should find out more before u sign the proposal.
A lot still benefit from buying. And so far 19 years in the business, I should say 100% claims went thru, depending who service & do the claims for you. As for Car & Travel.. suka suka lor..
Centurion9990;872740 said:
actually u are wrong. You should find out more before u sign the proposal.
A lot still benefit from buying. And so far 19 years in the business, I should say 100% claims went thru, depending who service & do the claims for you. As for Car & Travel.. suka suka lor..
Re: Dead Ferrari driver’s estate valued at S$8.1 million
yes I agree and thats why nowadays MUST read the T&Cs carefully word for word..because a phrase like "Total Permanent Disability" is defined differently by EVERY insurance company...
Taking a hand for example, one company only needs you to lose function of your master hand and its considered TPD, while another one I read requires that you lose both hands and hop around like a rabbit before they allow TPD claim
Centurion9990;872740 said:
yes I agree and thats why nowadays MUST read the T&Cs carefully word for word..because a phrase like "Total Permanent Disability" is defined differently by EVERY insurance company...
Taking a hand for example, one company only needs you to lose function of your master hand and its considered TPD, while another one I read requires that you lose both hands and hop around like a rabbit before they allow TPD claim
OptimusWKY
Well-Known Member
Re: Dead Ferrari driver’s estate valued at S$8.1 million
So is AXA implying that the driver is committing suicide since he is fully aware of his action which is "Collision" and not "Accident"?
So is AXA implying that the driver is committing suicide since he is fully aware of his action which is "Collision" and not "Accident"?
Re: Dead Ferrari driver’s estate valued at S$8.1 million
The proposal is written in legal form even the most non-legal-trained elite might not fully understand the clauses. And that leaves "finding out" with two options: one, trust the agent. two, check with another agent from another agency.
I know of many who trusted the wrong agent, did not proof-read the contract and ended up buying the wrong policy.
iScoupe said:
The proposal is written in legal form even the most non-legal-trained elite might not fully understand the clauses. And that leaves "finding out" with two options: one, trust the agent. two, check with another agent from another agency.
I know of many who trusted the wrong agent, did not proof-read the contract and ended up buying the wrong policy.
Centurion9990
Well-Known Member
Re: Dead Ferrari driver’s estate valued at S$8.1 million
Seriously who really read word for word or have time to find out in detail when signing an insurance policy, especially friend is my agent.
"bro, this new plan very good. Pls support me as I need the production this mth, all terms is the same as last policy.. Pls sign" is what I commonly hear from my friend.. Chop chop 5mins then pay premium. I signed cos I trust that person.
iScoupe;872743 said:
Seriously who really read word for word or have time to find out in detail when signing an insurance policy, especially friend is my agent.
"bro, this new plan very good. Pls support me as I need the production this mth, all terms is the same as last policy.. Pls sign" is what I commonly hear from my friend.. Chop chop 5mins then pay premium. I signed cos I trust that person.
Last edited by a moderator:
Re: Dead Ferrari driver’s estate valued at S$8.1 million
Is still part of your responsibility to know la... anyway whatever you brought u forget in 12 months. review by agent needed from time to time.
ya , the lawsuit on "collision" vs "accident' believed to be first such reported case in Singapore. I hope the AXA lose.
Centurion9990;872754 said:
Is still part of your responsibility to know la... anyway whatever you brought u forget in 12 months. review by agent needed from time to time.
sunriser8;872755 said:Same as "flood" and "ponding"......
ya , the lawsuit on "collision" vs "accident' believed to be first such reported case in Singapore. I hope the AXA lose.
Re: Dead Ferrari driver’s estate valued at S$8.1 million
Frankly speaking, if an experienced agent for 19 years could not decipher the legal differences on the definitions between "collison" and "accident", I am not sure how much more complexities (in favour of the insurance industry) have the legal clauses planted to snook the customers.
Frankly speaking, if an experienced agent for 19 years could not decipher the legal differences on the definitions between "collison" and "accident", I am not sure how much more complexities (in favour of the insurance industry) have the legal clauses planted to snook the customers.
Re: Dead Ferrari driver’s estate valued at S$8.1 million
lawyers act on clients' instructions. lawyers do not go crafting clauses because they very free and answer PMs asking for free legal advice.
so there is a difference. not fair to say insurers and lawyers go hand in hand
as long as there is a fee, we hold anyone's hands. lawyers are prostitutes
totoseow;872762 said:
lawyers act on clients' instructions. lawyers do not go crafting clauses because they very free and answer PMs asking for free legal advice.
so there is a difference. not fair to say insurers and lawyers go hand in hand
as long as there is a fee, we hold anyone's hands. lawyers are prostitutes
Last edited by a moderator:
Re: Dead Ferrari driver’s estate valued at S$8.1 million
This is the crux of the argument.
Assuming client is legally-trained. Client needs to do his/her own due diligence on the contract, and rely on a minimal basis on the agent's recommendation on products. In truth, he is probably better to contruct his own portfolio by shopping around on pricing. Service requirement is very minimal.
Assuming client is NOT legal trained. There are lots of intepretation required from the part of the agent, who earns the commission. If he does a good job, he has obliged in his responsibilities. If he does not, there is an element of mis-representing or mis-selling.
Hence, it is not always the case the responsibility lies in the customer's hands.
iScoupe said:
This is the crux of the argument.
Assuming client is legally-trained. Client needs to do his/her own due diligence on the contract, and rely on a minimal basis on the agent's recommendation on products. In truth, he is probably better to contruct his own portfolio by shopping around on pricing. Service requirement is very minimal.
Assuming client is NOT legal trained. There are lots of intepretation required from the part of the agent, who earns the commission. If he does a good job, he has obliged in his responsibilities. If he does not, there is an element of mis-representing or mis-selling.
Hence, it is not always the case the responsibility lies in the customer's hands.
