I'm in the front line of insurance application . In hospital of coz . I've seen plenty of proofs where it takes ages to get one approved . And some got rejected . I've trained in both private and government hospitals . Whereas in private hosp , the only thing better is the environment . Much2 comfortable vs gov ones . But in gov ones , they don't do nonsense to you . They did only what's necessary . And docs there are just more pro . They have a whole team to discuss and decide what to do next . Not just one doc deciding what to do like in a private one . And best of all , it's damm cheap . I've seen it all . It doesn't make sense to continuously fork out money each month to let someone decide whether or not I get to have this treatment or that or none at all .
insurance company should investigate thoroughly an applicant before deciding to take his/her money each month. a medical checkup should be mandatory before approval. It is indeed unfair for the insurance company to start scrutinizing their clients once the client starts filing for claims. so eager to approve your application and take your money from you but when u suddenly claim, they check your health details at every department they have access to. it really feels like a borderline scam
To me, MOST agents only want money so only aim to sell only. Fine print themselves also don't know. I hate them. Scum of the industry. Rarely you can find good ones.
That's actually very true . Self paying patients actually do pay less . Of they did cataract surgery , they will get a package which includes everything u need . Also , they will select the cheapest items to use on u . If insurance patient , we generally don't care and just use .
@@MrMoneyTV Reusing medical items is actually not a problem if it is properly sterilised. Thats what happens in gov hospital all the time. Also it used to be the norm for decades in private hospitals too. Until the advent of the american commercial "standards" being introduced ot our country where the pharma companies wanted to make more profit in sales, so they came up with non science based "protocols" where everything must be single use and disposable, even equipment that is thousands of dollars and can be reused many times must be thrown away after a single use. dont believe the scam. Its not for healthcare purpose, but for those pharma company profits.
Doctors and hospitals don't "charge more" for insurance, rather they give a DISCOUNT to cash paying patients. For insurance claims, all possible charges that can be legally charged will be applied to the fullest amount and make maximum (including sometime padding the bills), whereas for cash patients, doctors may waive certain charges since its from the patient's own pocket. This is for a few reasons. 1) Insurance company paperwork is hell. They make the doctor fill out all kinds of forms, and answer stupid questions, wasting many hours of the doctors time. 2) Insurance company job is to do their absolute best to reject the claim. So they will keep making excuses to reject the claim and the doctors need to appeal a few times to get the claim approved 3) Insurance companies wait 3 - 4 MONTHS to pay out. So the hospital and doctors are out of pocket for several months before they get their money back. Thus a premium needs to be charged to recoup this time loss. 4) Some insurance companies have been known to outright refuse to pay the full bill even after the total amount was agreed. This is why some hospitals have blacklisted certain insurance companies, because they have been burned in the past, where the Insurance company just paid maybe 70 or 80% of the bill and refused to pay the balance, despite the claim and treatment having been approved. Always remember - The insurance company exists to TAKE your money, not give it back to you!
The problem is most of the time agents never tell you what the ticking timebombs are in your policy. They upsell a product. However a lot of Malaysians also buy insurance based on pricing and brand of the company. Remember always, branding does not help you regardless how big of a giant company it is. Your black and white contract is what’s important. Do people actually take the time to find out what their timebombs are? I have done so many policy reviews and i can confidently say 90% of Malaysians are not aware of these ticking timebombs. Hence, when they try to make a claim, and get rejected they will say insurance is a scam. Can’t blame them if they have no clue.
You can actually. But the self apply type polices have a lot of limits. To be honest, if the agent explains everything to you on what’s important you actually can handle it yourself. You control how your cash value grows, and the sustainability of your own policy. Agent is there to assist you if u need help. Claims also can do by yourself.
Agree man. Recently my wife got tested positive for Covid. Immediately it was a big scare and certainly one of the first thing that came to our mind is she may need to get admitted. Having sufficient medical coverage definately gave us the assurance that if that really happens, we can afford the treatments necessaryz
Insurance is important. However, finding a trusted agent that place the best interest of his customer in mind is equally as important. As an example, my father bought an insurance from his friend who works in an established insurance company. One day, my father got stroke in his early years. When he went to seek his friend to help him make the claim, his "friend" came up with all sorts of reasons to not help him. That is why until just recently, my mother always teach us that insurance is a scam. Moral of the story, when finding an agent, always ask how many people have he/she help to made their claim throughout his/her profession. If he/she can't provide you some concrete evidence, you know that person is really just aiming for your money.
@@StephenSiong_ Not necessarily should an insurance agent taken a number of claim and etc. I fully understand that your dad has a bad experience. It boils down to your trust and instinct of the service of this agent. May I ask if you know your own policy coverage?
@@MrPaulKok If you ask whether I can remember all the nitty gritty then no lah. Its like asking people can they remember every line in their Form 4 or 5 textbook after years of not touching them. All i know is that they cover hospital bills if I have injury or death.
Which is why avoid paying for health insurance; drink warm lemon and exercise and sleep early everyday enough to be healthy. Do fasting so that cancer cell die of starvation, avoid rice to lessen glucose levels.
Life is unexpected man. If you think health insurance is a waster of money, until you need one. We do not know if there's something going to happen. Its a risk management.
insurance is plan b, your plan A is to have a healthy lifestyle. but if anything happen, you will sacrifice your hard earned saving for medical bills, which can worth more than what u actually paid for monthly contribution. this is just my opinion
@@muhamadhanifsafwanabrazak551 There's no right and wrong answer to what you mentioned. However, getting one doesn't burn ones pocket. That's why I'm your plan B. Are you well protected with your income replacement?
What ever insurance company my advice is dont ever buy your insurance policy with GREAT EASTERN INSURANCE they are the worst insurance company I ever met. A company who cheat on their clients whenever they wanted to make claim.Giving all sort of excuses all not acceptable. Remember dont buy from them ever you will surely regret.
Beware of medical cards as the premium goes up much higher than the stock market.Ask your agent to tell you where in the policy does it state the quantum they will charge you as years go by.Normaly when they sell they inform you that there will be a review every 5 years birthday aniverssary but some companies review every year.Just imagine a yearly policy of premium amount of RM5000.00 and the minimum review is RM1000.00 additional per year.In ten years you will be paying a premium of RM15000.00 per year.Note that this is without any claim.Normaly they do not do this to a teenager or youngster but if you are in your + 50 then this will happen as you have no choice as no insurance company will be willing sell medical card to a + 50 or + 60 years old.Beware of this loop hole in premium increase.An older person would then just give up the medical card as then he has no income and this reduced the insurance company's risk.The company now benefits and they just go on looking for less risk customers.
Hi I am Prudential Wealth Planner, maybe I can help you? I do have medical card specially for 44 to 69 years old applicant, and it require a Medical Examination before the underwriter will approve the proposal👀
Deductible medical plan is whereby you pay upfront money. Example medical bill is RM 60,000, your medical card have a deductible plan of RM10,000. You pay RM10,000 as upfront payment the remaining amount is covered under insurance company.
@@MrPaulKok I was young and naive that time, went to the mall and the insurance booth agent approached me. He recommended the Etiqa Harmoni saying that it's a saving insurance plan, deposit RM200 monthly and I'll get back the money after maturity tenure of 30 years, but I can stop and get back my money anytime. So it's like helping you to save up and provides the benefit of life insurance. But now that I check back my policy, seems like the return upon maturity depends on Takaful's investment performance, I might get lesser that I contributed thoughout the years. This is what I understand from my policy lah, the agent didn't even explain the t&c properly ... Even if we could get back the full amount of our money, I see people saying the interest is really low, you might as well invest that money somewhere else
@@Leanna007 I see. In a way this agent did not clarify the T&C properly and being ethical on the problem. How about we meet up and I go through a free policy review on the matter? Please give an opportunity to do it rightfully. I'm an insurance advisor btw.
@@Leanna007 yes. The maturity money u get is lower interest. Because the saving plan mostly got cover your life. And remember don't pay insurance for investment or saving purposes. Buy insurance for protection only. That's my 2 cents.
In fact, it’s the duty of the agent to let them know the T&C and keep their customer up to date with the latest news! Servicing is important in this industry.
@@MrMoneyTV I'm an insurance advisor myself. If there's any problem in the future, you're more than welcome to contact me! Thanks for keep us inform on all the content✌✌
* Do you think insurance is a scam? * 😱
YES or NO
Tell us what you think!
sometimes yes sometimes no
Only Great Eastern Insurance they cheat their clients.
@@uhLawy l
Yes
yes its a scam, but sadly one we have no choice but to go along with in our capitalist society
I'm in the front line of insurance application . In hospital of coz .
I've seen plenty of proofs where it takes ages to get one approved . And some got rejected .
I've trained in both private and government hospitals . Whereas in private hosp , the only thing better is the environment . Much2 comfortable vs gov ones .
But in gov ones , they don't do nonsense to you . They did only what's necessary . And docs there are just more pro . They have a whole team to discuss and decide what to do next . Not just one doc deciding what to do like in a private one .
And best of all , it's damm cheap . I've seen it all . It doesn't make sense to continuously fork out money each month to let someone decide whether or not I get to have this treatment or that or none at all .
Government doctor more ethnic
Agreed. Government hospitals are a good example of taxpayers money put to good use.
insurance company should investigate thoroughly an applicant before deciding to take his/her money each month. a medical checkup should be mandatory before approval. It is indeed unfair for the insurance company to start scrutinizing their clients once the client starts filing for claims. so eager to approve your application and take your money from you but when u suddenly claim, they check your health details at every department they have access to. it really feels like a borderline scam
Agreed, and i know they do have measures in place to conduct medical checkups. That’s why it’s important the answer the health declaration honestly.
To me, MOST agents only want money so only aim to sell only. Fine print themselves also don't know. I hate them. Scum of the industry. Rarely you can find good ones.
Same goes for real estate agents
Mr John I agree that you encountered an unpleasant experience. However, which agent is one?
Remember to read the fine, fine , fine prints before signing anything.
Clear message, clear structure, easy to understand, thank you
Some agents are sus
Indeed 😜
Kacau
Lighting and color looks great this episode 😌😌
U look great too matt
That's actually very true . Self paying patients actually do pay less . Of they did cataract surgery , they will get a package which includes everything u need . Also , they will select the cheapest items to use on u . If insurance patient , we generally don't care and just use .
😱 so scary….. I’ve hear of the part of reusing medical items which freak me out
@@MrMoneyTV Reusing medical items is actually not a problem if it is properly sterilised. Thats what happens in gov hospital all the time. Also it used to be the norm for decades in private hospitals too. Until the advent of the american commercial "standards" being introduced ot our country where the pharma companies wanted to make more profit in sales, so they came up with non science based "protocols" where everything must be single use and disposable, even equipment that is thousands of dollars and can be reused many times must be thrown away after a single use.
dont believe the scam. Its not for healthcare purpose, but for those pharma company profits.
Doctors and hospitals don't "charge more" for insurance, rather they give a DISCOUNT to cash paying patients. For insurance claims, all possible charges that can be legally charged will be applied to the fullest amount and make maximum (including sometime padding the bills), whereas for cash patients, doctors may waive certain charges since its from the patient's own pocket. This is for a few reasons.
1) Insurance company paperwork is hell. They make the doctor fill out all kinds of forms, and answer stupid questions, wasting many hours of the doctors time.
2) Insurance company job is to do their absolute best to reject the claim. So they will keep making excuses to reject the claim and the doctors need to appeal a few times to get the claim approved
3) Insurance companies wait 3 - 4 MONTHS to pay out. So the hospital and doctors are out of pocket for several months before they get their money back. Thus a premium needs to be charged to recoup this time loss.
4) Some insurance companies have been known to outright refuse to pay the full bill even after the total amount was agreed. This is why some hospitals have blacklisted certain insurance companies, because they have been burned in the past, where the Insurance company just paid maybe 70 or 80% of the bill and refused to pay the balance, despite the claim and treatment having been approved.
Always remember - The insurance company exists to TAKE your money, not give it back to you!
Need more people so spread this video more
The problem is most of the time agents never tell you what the ticking timebombs are in your policy. They upsell a product. However a lot of Malaysians also buy insurance based on pricing and brand of the company. Remember always, branding does not help you regardless how big of a giant company it is. Your black and white contract is what’s important.
Do people actually take the time to find out what their timebombs are? I have done so many policy reviews and i can confidently say 90% of Malaysians are not aware of these ticking timebombs. Hence, when they try to make a claim, and get rejected they will say insurance is a scam. Can’t blame them if they have no clue.
that''s very true. it is important that insurance agents should explain all these to their clients during the proposal process.
Loving the Mr Money crew stock videos! Are you selling them? 😂
Sure! Come come email us mrmoney@mrmoneytv.com
great content bro. Are there any means by which we can buy insurance without going through an agent like in unit trust?
You can actually. But the self apply type polices have a lot of limits. To be honest, if the agent explains everything to you on what’s important you actually can handle it yourself. You control how your cash value grows, and the sustainability of your own policy. Agent is there to assist you if u need help. Claims also can do by yourself.
Agreed. Insurance is a necessity to protect yourself and your family especially in current uncertain times. Scary to think of not having one.
Agree man. Recently my wife got tested positive for Covid. Immediately it was a big scare and certainly one of the first thing that came to our mind is she may need to get admitted. Having sufficient medical coverage definately gave us the assurance that if that really happens, we can afford the treatments necessaryz
@@MrMoneyTV Good on getting your and your family insured! I’m an insurance advisor myself. If there any problem, you’re more than welcome to dm me😊✌️
Insurance is important. However, finding a trusted agent that place the best interest of his customer in mind is equally as important. As an example, my father bought an insurance from his friend who works in an established insurance company. One day, my father got stroke in his early years. When he went to seek his friend to help him make the claim, his "friend" came up with all sorts of reasons to not help him. That is why until just recently, my mother always teach us that insurance is a scam. Moral of the story, when finding an agent, always ask how many people have he/she help to made their claim throughout his/her profession. If he/she can't provide you some concrete evidence, you know that person is really just aiming for your money.
@@StephenSiong_ Not necessarily should an insurance agent taken a number of claim and etc. I fully understand that your dad has a bad experience. It boils down to your trust and instinct of the service of this agent. May I ask if you know your own policy coverage?
@@MrPaulKok If you ask whether I can remember all the nitty gritty then no lah. Its like asking people can they remember every line in their Form 4 or 5 textbook after years of not touching them. All i know is that they cover hospital bills if I have injury or death.
Which is why avoid paying for health insurance; drink warm lemon and exercise and sleep early everyday enough to be healthy. Do fasting so that cancer cell die of starvation, avoid rice to lessen glucose levels.
Life is unexpected man. If you think health insurance is a waster of money, until you need one. We do not know if there's something going to happen. Its a risk management.
insurance is plan b, your plan A is to have a healthy lifestyle. but if anything happen, you will sacrifice your hard earned saving for medical bills, which can worth more than what u actually paid for monthly contribution. this is just my opinion
@@muhamadhanifsafwanabrazak551 There's no right and wrong answer to what you mentioned. However, getting one doesn't burn ones pocket. That's why I'm your plan B. Are you well protected with your income replacement?
@@muhamadhanifsafwanabrazak551 No answer???
HI MR MONEY. I GOT A QUESTION. I ADMITTED ON MAY AND WANTED TO DO CLAIM. MAY I KNOW, ARE THERE HAVE A PERIOD FOR CLAIM. IF HAVE, HOW MANY MONTHS?
Wow. My takeaway is to make sure your actual life funding is more than enough. End of the day, money is money.
Yes 🙌🏼
how to decide a treatment is necessary? I'm not a medical practitioner. even if is not necessary, doesn't mean it helps with better diagnosis?
What ever insurance company my advice is dont ever buy your insurance policy with GREAT EASTERN INSURANCE they are the worst insurance company I ever met. A company who cheat on their clients whenever they wanted to make claim.Giving all sort of excuses all not acceptable. Remember dont buy from them ever you will surely regret.
I heard that multiple times. what's your story?
Beware of medical cards as the premium goes up much higher than the stock market.Ask your agent to tell you where in the policy does it state the quantum they will charge you as years go by.Normaly when they sell they inform you that there will be a review every 5 years birthday aniverssary but some companies review every year.Just imagine a yearly policy of premium amount of RM5000.00 and the minimum review is RM1000.00 additional per year.In ten years you will be paying a premium of RM15000.00 per year.Note that this is without any claim.Normaly they do not do this to a teenager or youngster but if you are in your + 50 then this will happen as you have no choice as no insurance company will be willing sell medical card to a + 50 or + 60 years old.Beware of this loop hole in premium increase.An older person would then just give up the medical card as then he has no income and this reduced the insurance company's risk.The company now benefits and they just go on looking for less risk customers.
Hi I am Prudential Wealth Planner, maybe I can help you? I do have medical card specially for 44 to 69 years old applicant, and it require a Medical Examination before the underwriter will approve the proposal👀
in the of the day... everybody is lying
Can someone explain further about the deductible medical plan?
Deductible medical plan is whereby you pay upfront money. Example medical bill is RM 60,000, your medical card have a deductible plan of RM10,000. You pay RM10,000 as upfront payment the remaining amount is covered under insurance company.
Steady bos.🔥🙏👍
I bought saving insurance few years ago, now it's too late to regret and terminate it = =
Why thou?? Share something
In the first place why do you bought it for what purpose?
@@MrPaulKok I was young and naive that time, went to the mall and the insurance booth agent approached me. He recommended the Etiqa Harmoni saying that it's a saving insurance plan, deposit RM200 monthly and I'll get back the money after maturity tenure of 30 years, but I can stop and get back my money anytime. So it's like helping you to save up and provides the benefit of life insurance. But now that I check back my policy, seems like the return upon maturity depends on Takaful's investment performance, I might get lesser that I contributed thoughout the years. This is what I understand from my policy lah, the agent didn't even explain the t&c properly ...
Even if we could get back the full amount of our money, I see people saying the interest is really low, you might as well invest that money somewhere else
@@Leanna007 I see. In a way this agent did not clarify the T&C properly and being ethical on the problem. How about we meet up and I go through a free policy review on the matter? Please give an opportunity to do it rightfully. I'm an insurance advisor btw.
@@Leanna007 yes. The maturity money u get is lower interest. Because the saving plan mostly got cover your life. And remember don't pay insurance for investment or saving purposes. Buy insurance for protection only. That's my 2 cents.
In fact, it’s the duty of the agent to let them know the T&C and keep their customer up to date with the latest news! Servicing is important in this industry.
Agreed :)
@@MrMoneyTV I'm an insurance advisor myself. If there's any problem in the future, you're more than welcome to contact me! Thanks for keep us inform on all the content✌✌
Hmmm...
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