Dead Ferrari driver’s estate valued at S$8.1 million

[MW]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

This is the reasoning for insurance as a form of protection, but sounds like hard selling - no relevance to my point of having inadequate knowledge in entering the deal. Fact remains - it is hard NOT to cross-refer against a lawyer or another agent on any proposal since, as shown in this case, there are already ambiguities in the legal intepretation of some clauses.

the ambiguities only come during payouts although during the sale process, the agent does not fully explain all the possible scenarios. Most of the time a broad brush approached is used, such as "You fall down, can claim one, you go hospital also can claim, this policy cheap, quickly buy"...but when u really fall down, you suddenly find yourself engaged in a Queen's English lesson with them on what is defined as "fall down", and if you do reverse bunjee, tats falling "up" etc etc so you cannot claim...

Granted a customer should know his rights/obligations but I wonder whether a non educated man who only has cash in his hands fully understand the meaning of his policy or he bought it cos his agent friend told him "can buy one, anything u claim, I help u, u will thank me later"

 

[kenntona]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

haha not easy to sell you insurance. Need a chio bu agent with big cup to distract you & sign without u knowing.

You forgot I am in structured products and derivatives.

Many ILPs are structured to benefits the distributors with fat margins, and so I remain - insurance should remain as what they were intended for - protection and "insurance" against mishaps.

Anything more, such as savings or investments, leave it to the specialists.

 

[iScoupe]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

the ambiguities only come during payouts although during the sale process, the agent does not fully explain all the possible scenarios. Most of the time a broad brush approached is used, such as "You fall down, can claim one, you go hospital also can claim, this policy cheap, quickly buy"...but when u really fall down, you suddenly find yourself engaged in a Queen's English lesson with them on what is defined as "fall down", and if you do reverse bunjee, tats falling "up" etc etc so you cannot claim...

Granted a customer should know his rights/obligations but I wonder whether a non educated man who only has cash in his hands fully understand the meaning of his policy or he bought it cos his agent friend told him "can buy one, anything u claim, I help u, u will thank me later"

sound like those people who stop you in china town & say "you are very lucky man today, I can read your palm to tell you more"

 

[iScoupe]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

You forgot I am in structured products and derivatives.

Many ILPs are structured to benefits the distributors with fat margins, and so I remain - insurance should remain as what they were intended for - protection and "insurance" against mishaps.

Anything more, such as savings or investments, leave it to the specialists.

you are a good supporter for MAS FAIR dealing.

Anyway I keep buying Singtel shares at $3.10 to $3.21 when my broker keep saying don't rush in. But will be worst if I put money at a cost in banks against inflation at near zero interest. So who can I trust in term of savings & investment?

 

[kenntona]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

"can buy one, anything u claim, I help u, u will thank me later"

Your agent told you that ? Kidding me ?

You paid him to boost his ego, and worse, you kenna sold the wrong thing !!! LOL

You sucker.

No wonder your agent laughing (at you, and all the way to the bank).....

 

[kenntona]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

Anyway I keep buying Singtel shares at $3.10 to $3.21 when my broker keep saying don't rush in. But I put money at a cost in banks against inflation at near zero interest. So who can I trust in term of savings & investment?

Your own investment horizon, your own risk profiles and attitude, you plan yourself.

Your broker might not even know your investment horizon and VAR. You might say you wanna buy and keep, but you might behave like a trader once the stock is up 25% in a few weeks, and sell out. How to fault your broker on your actions?

 

[davidtch]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

When my agent shows with half ball, she sell anything i also buy

 

[iScoupe]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

When my agent shows with half ball, she sell anything i also buy

Ya normal, heard that often enough...

milk went under table when i prepare paperwork for him.

 

[animian]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

Anyway take note, his AXA motor insurance might not pay due to "collision" not "accident".


life insurance better, all pays.

just saw this news . so if Collision axa dont pay...hmm....does that mean the below incident wont pay too

>> ASIAONE / MOTORING / NEWS / STORY


Tuesday, Aug 14, 2012
AsiaOne




2 accidents in 15 mins at same junction

Seven vehicles were involved in two separate collisions, which happened about 15 minutes apart, at the same place in Yishun on Sunday night.

The incidents occurred at the junction Yishun Ave 2 and Ave 5, next to Yishun MRT station and Northpoint shopping centre.

Police received a call at 11.20pm about the first incident, which involved a TransCab taxi, a motorcycle and a car.


The injured taxi driver, a man in his 60s, and motorcyclist were sent to Khoo Teck Puat Hospital (KTPH).

According to the Singapore Civil Defence Force (SCDF), the taxi driver had chest discomfort and giddiness, and the motorcyclist, a man in his 30s, had multiple abrasions to his body and neck and back pain.

Police received another call at 11.32pm about a second incident at the same junction, this time involving three Comfort taxis and a black BMW.

Eyewitnesses whom The New Paper spoke to said there was a crash and the BMW flipped, turned over and landed. The impact shattered its windows and deployed the vehicle's airbags.

"Passers-by who had been helping at the first accident quickly ran over to help the driver and his passengers out of the car," said Aqil Faiz, 18, a student who was at the scene.

Aqil said all victims were conscious.

"There was no screaming or crying. The passengers were all quiet. But the entire junction was filled with glass and debris," he said.

Two people were injured in the second accident, the BMW driver and one of his passengers. Both are men in their 30s and 40s. One had multiple cuts to his legs, while the other had a cut to his left ear.

They were also taken to KTPH. Police are currently investigating the collisions.
klim@sph.com.sg

 

[Chocs]

Re: Dead Ferrari driver’s estate valued at S$8.1 million


....in all fairness, insurance companies should just cut the crap and pay out. When insurance are bought , consumers wan piece of mind, not bickering & arguing over fine prints. Insurance agents who dun keep themselves updated or learned or r new or dunno their jobs, beta Juz say so and dun act smart. Cos in the end . Who suffer? So Unfair.

As far as I am concerned . Insurance of wadever one buys...regardless of whether i'm a lowly paid worker or billionair...means I wan 2 buy a piece of mind, for any future calamities...big or small amts, period. Big giants who as Companies, Wan 2 take On small individuals...can win anytime, if so called individual(s) too weak & or no resources & energies to fight back.

Frds always ask frds to help...pls help us too, by being upfront. Dunno say dunno. Dun over promise.

Personal experience .. We all learn ourselves in the end.

Bght plans, hospitalisation, personal etc etc from a Frd, he's starting off..no probs, help. Tt was last year.

This year hospitalised..tell me cannot claim cos certain "clause" . He checked w sista, who is in said mega company near 20 years. Oso cannot. Checked with his company , oso cannot. I said try, just write in for me, hey i am a good example for frd to practice, earn experience.. Very adamnant abt it, no way, not possible, no such case b4 etc etc..Summore can jest @ my ignorance. Fine. Ok...Frd u good...i say, tq..

I asked mny Agents, including 2 Bros here. Half say can, half say cannot, frustrating right?

Wrote in myself, straight to the point, factual letter. Got My Insurance payout in the Mail , less den One month later.

My Frd? No more lor...wad Frd?

 

[Chocs]

Re: Dead Ferrari driver’s estate valued at S$8.1 million


...but I still believe in insurance. It pays.

..it's sum agents I dun believe now.

 

[Centurion9990]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

Wrote in myself, straight to the point, factual letter. Got My Insurance payout in the Mail , less den One month later.

My Frd? No more lor...wad Frd?

Sister.. I like your style

Like I said earlier.. It's common that insurers fail to payout.. Chocs case is one good example.. Must be proactive like her to fight..

 

[dash]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

Insurance? Just buy first. Sometimes we don't have time to think so much.
Life is unpredictable. 10 sec before the crash , he wouldn't have foretold he will die.
If the late Ma Chi didnt buy, there wouldn't be any 2.8M payout as well.

Get somebody you trust and buy.

Everytime I do a death claim, their surviving spouses/family always wished there were more. Nobody ever questions if it's term, ILP or traditional plan.

 

[VolanteDB9]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

brings me to a case recently....

X takes up travel insurance and which also insures against personal property loss.

X loses his iphone in a crowded street, most likely pickpocketed. X makes a police report and then makes a claim under the travel insurance.

Insurance company refuses to pay citing "NEGLIGENCE".

Pray tell how one gets pickpocketed DILIGENTLY?

eh don't mind name the insurance company or pm please?

bought AIG/Chartis annually last time but now no money fly so much buy kwee zhap khor every time fly type...

 

[VolanteDB9]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

Anyway Travel insurance only the "emergency evacuation" is the most important item.

X should claim that he run after the robber & not pick pocketed - don't say I say one.

sure boh??????

 

[MW]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

eh don't mind name the insurance company or pm please?

bought AIG/Chartis annually last time but now no money fly so much buy kwee zhap khor every time fly type...

Not me, my sister. She bought from AIG

 

[VolanteDB9]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

haha anyway is first case in Singapore to reject liability as "collision", let see how it goes.

as for Ma life insurance 2.8million steady payout.

any idea about the similar accident week after also caught on video? no lives lost but can link to this Mr Ma's case? apparently got 8 similar accidents in 2 months there?

 

[wt_know]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

yeah, lexus beat red light and bang taxi, taxi got claim insurance?

any idea about the similar accident week after also caught on video? no lives lost but can link to this Mr Ma's case? apparently got 8 similar accidents in 2 months there?

 

[SapphireSpite]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

It is said that , that particular junction, the traffic light seems to be angled that the green light seems to be on your side (whereas it is not yours)

 

[iScoupe]

Re: Dead Ferrari driver’s estate valued at S$8.1 million

eh don't mind name the insurance company or pm please?

bought AIG/Chartis annually last time but now no money fly so much buy kwee zhap khor every time fly type...

as long u buy from me, I will advice. A broker once told me, unfair to advice me as I am not his client. The time use on me can help his customer make more money. FAIR statement.

My client kenna asthma 2 months ago in Jakarta.... come back Company insurance decline payment as is "pre-existing" health condition. He got annual Travel Plan with me, ok to claim. Is how your agent help you. In our business, we always at customer side to get the claims.

Regardless what advice a investment expert advice you to let your money work for you, end of day, insurance is part of the solution.