The 5 Pillars of Life

I met 3 clients with non disclosure cases recently. They have certain medical conditions but choose not to disclose during the application of a life or medical insurance. Let me share what happened for the 3 of them.

1) Mr Yeo previously suffered spinal disorder during his National Service about 5 years ago and had consulted specialist to correct the spine problem. He was subsequently downgraded to Pes C9L2 after medical review with the specialist. He did not visit the specialist after National Service and do not have any medical report with him. The insurance agent from “P”, while signing up for his medical Plan, told him that it is not necessary to disclose it since he is not seeking treatment now. All his policies went through without a glitch.

2) Mdm Ong went for medical checkup specially for woman in 2006. The specialist found that she has fibroids at her womb. She signed up a Life policy with ”A” in 2007 and chose to answer “No” in her proposal form when asked if she has cyst, fibroids, growth, etc. Her reason was that her doctor told her that Fibroid is very common, normally non cancerous and no action is required for her case. Her policy also went through without a glitch.

3) Ms Mary had cysts and growth that was non cancerous but had distorted her Fallopian Tube. The doctor advised her to remove the left Fallopian tube. She took up an ILP from ”H” and did not declare this condition. She had informed her adviser about it but the advisers told her that it is not necessary to inform the insurer because the operation was done in Philippines and it is not causing an issue for her. Her ILP of course went through without a glitch again.

When the 3 of them informed me about their condition while I went through every question of the proposal form, I insisted that I have to declare all these conditions to the insurer.
1) For Mr Yeo’s case, it is still pending and waiting for insurer to send him for medical examination.
2) For Mdm Ong’s case, the insurers exclude her plan for cancer of female generative organs and she refuse to accept it. She insisted that she should not tell me that she has fibroids and very unhappy with the insurer to exclude her condition.
3) For Ms Mary case, it is also still pending and waiting for insurers to send her for medical examination.

I am insistence despite possible losing all 3 cases after at least 4 times with each of them and many cup of coffees. My rationale is simple; I have God to answer today and their family to answer in future if I am to act like their previous advisers.

The above are my very recent life example and I’m very sure that many agents and policyholders are still choosing not to declare some of their existing conditions. I’ll share with you the consequences of doing so in my next post.