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05-09-2013, 10:40 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
Far implication of Medishield Life and other opt out or forced insurance schemes -
This incident is going to have a very heavy implication on the Medishield Life and other opt out or forced insurance schemes. Opt out and forced insurance schemes will work the same way. No acknowledgement is required from the client. The insurance companies can simply assume all the clients know the terms and conditions of the policies they issue. So hard luck for the customers even if they don't have a clue what the terms are.
Then one fine day, when a claim is made, the company can point out any term, any condition or whatever and tell the client that there is no case for a payout, just like the NTUC Income case. Unlike the usual practice where the client is explained the terms and conditions by a rep of the company, there is no one to explain the terms to these ready made clients under the opt out or forced schemes.
This is yet another reason to object to the mad forced Medishield Life scheme.
- http://wherebearsroamfree.blogspot.s...uc-income.html (http://wherebearsroamfree.blogspot.sg/2013/09/unethical-practice-by-ntuc-income.html)
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?162051-NTUC-plays-around-with-words-refuses-to-pay-up&goto=newpost).
Far implication of Medishield Life and other opt out or forced insurance schemes -
This incident is going to have a very heavy implication on the Medishield Life and other opt out or forced insurance schemes. Opt out and forced insurance schemes will work the same way. No acknowledgement is required from the client. The insurance companies can simply assume all the clients know the terms and conditions of the policies they issue. So hard luck for the customers even if they don't have a clue what the terms are.
Then one fine day, when a claim is made, the company can point out any term, any condition or whatever and tell the client that there is no case for a payout, just like the NTUC Income case. Unlike the usual practice where the client is explained the terms and conditions by a rep of the company, there is no one to explain the terms to these ready made clients under the opt out or forced schemes.
This is yet another reason to object to the mad forced Medishield Life scheme.
- http://wherebearsroamfree.blogspot.s...uc-income.html (http://wherebearsroamfree.blogspot.sg/2013/09/unethical-practice-by-ntuc-income.html)
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?162051-NTUC-plays-around-with-words-refuses-to-pay-up&goto=newpost).