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Navigating the Fine Print: Understanding Congenital Disease Exclusions in Insurance

Press Release Source: https://www.8world.com/southeast-asia/insurance-base-on-congenital-disease-refuse-claim-2799581?fbclid=IwZXh0bgNhZW0CMTEAAR6VgU44lFQqcpZVYXlDkGJh7ftBimVMutJko5hCJImtkvSfP91Nu0Pq7Qfeag_aem_e4_JhueviPkAu4l4mv7A7g

A recent case in Malaysia highlights a distressing situation for parents, underscoring the critical need to understand the nuances of insurance policies, especially concerning congenital conditions. A couple who purchased prenatal insurance faced a difficult challenge when their child, born with a heart condition, later developed a liver infection. Despite the child’s escalating medical needs, the insurance company declined full coverage.

The core of the dispute lies in the policy’s exclusion of congenital diseases. Many insurance plans explicitly state that conditions present from birth are not covered. What makes this case particularly complex and concerning is the insurance company’s stance that even subsequent health issues, like the liver infection, are not covered if they are deemed related to, or a complication of, the initial congenital condition. This broad interpretation can leave families vulnerable to significant out-of-pocket expenses for ongoing medical care, even if new symptoms appear to affect different body parts.

Such situations can be financially devastating and emotionally draining. To avoid going into such circumstances, kindly reach out to me to understand how the matter can be better planned and how to navigate the intricacies of insurance coverage for your family’s peace of mind.

Understand more on congenital diseases and how it will impact your finances/ insurances.

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Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek unbiased financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

Published By:

Lee Jireh 李以勒

Lee offers impartial financial advice that is in the clients’ interest instead of providing unbiased advice that is unduly influenced by his business/insurer partners’ sales quotas or higher commissions.
We have stuck to this principle from day one so that our clients benefit fully from impartial advice and put in place the best-suited financial plans.

With over a decade of experience in the finance industry, Lee has a wealth of knowledge and expertise that he brings to every client interaction. He has helped individuals and families achieve their financial goals and has earned a reputation as the go-to financial adviser for his clients.

What sets Lee apart is his ability to simplify complex financial concepts and make them easy to understand for his clients. As Lee believes that “Education is a Powerful Medicine”, he is committed in educating his clients on all aspects of personal finance and takes the time to explain the pros and cons of different options in the market with no biasness to any of his business/ insurers partners. He empowers his clients to make informed financial decisions that are in line with their goals and ideals.

Lee is also known for his exceptional customer service. He has a team of dedicated professionals who work with him to provide his clients with the highest level of support and guidance. He believes in building strong, long-lasting relationships with his clients.

Lee is currently managing portfolio of clients from the US, China, India, Italy, Japan and ASEAN profiles. 

 

李提供的是符合客户利益的公正理财建议，而不是被他的业务/保险公司合作伙伴的销售配额或高佣金所过度影响的有偏见的建议。作为一家理财顾问公司，我们从一开始就坚持这一原则，使我们的客户能够完全受益于公正的建议，并制定最适合的理财计划。

凭借在金融行业超过十年的经验，李拥有丰富的知识和专业技能，并将这些带到每一次与客户的互动中。他帮助了个人和家庭实现他们的财务目标，并赢得了高净值客户的首选财务顾问的声誉。

李的与众不同之处在于他能够简化复杂的金融概念，使客户容易理解。因为李相信“教育是一剂强有力的药方”，他致力于在个人理财的各个方面教育客户，并花时间解释市场上不同选项的优缺点，而不偏袒任何商业或保险公司合作伙伴。他赋予客户做出符合其目标和理想的明智财务决策的能力。

李还以其卓越的客户服务而闻名。他有一支敬业的专业团队，与他一起为客户提供最高水平的支持和指导。他相信与客户建立强大且持久的关系。

李目前管理着来自美国、中国、印度、意大利、日本和东盟的客户组合。

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根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.

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  • 鑫盟理财私人有限公司的代表或员工并未直接与我联系或提出要约或招揽购买我原居住国境内所不提供的任何金融产品.
  • Financial Alliance Pte Ltd ( “FAPL”) is licensed by the Monetary Authority of Singapore (“MAS”) and allowed to conduct financial advisory activities in accordance with the Financial Advisers Act (Cap. 110) (“FAA”) and the Securities & Futures Act (Cap. 289) (“SFA”) within the jurisdiction of the Republic of Singapore and in accordance with the licenses granted by MAS
  • 鑫盟理财私人有限公司( “鑫盟理财”)持有由新加坡金融管理局(“MAS”)所颁发的牌照，并许可在新加坡共和国境内依据财务顾问法（第110章）和证券与期货交易法（第289章）进行财务咨询等相关业务
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  • As an integral part of the provision of such services, FAPL may from time to time make available to such residents, documents and information making reference to capital markets products (for example, in connection with the provision of fund management or investment advisory services outside of the foreign jurisdiction).
  • 作为提供此类服务的一部分，鑫盟理财会不时向此类咨询者提供有关产品的参考文件和信息（例如，关于海外司法管辖区以外的资金管理或投资咨询服务等信息）。
  • Such documents and information are provided by Financial Alliance Pte Ltd (“FAPL”) is for general information only and is not intended for anyone other than the recipient.
  • 此类由鑫盟理财所提供的文件和信息仅供收件人做一般信息参考。
  • It does not take into account the specific investment objectives, financial situation or particular needs of any particular person.
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  • You shall ensure that you have and will continue to be fully compliant with all applicable laws in your home country when entering into discussion or contracts with FAPL.
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In compliance with the Personal Data Protection Act, Financial Alliance Pte Ltd (“FAPL”) seek your consent to collect and use your personal data (e.g. name, NRIC, contact numbers, mailing addresses, email addresses and photograph) for the purposes of and in accordance with FAPL’s Data Protection Policy, which can be found on FAPL’s website at https://fa.com.sg/data-protection-policy/.

根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.

By submitting this form, you are deemed to have read and understood FAPL’s Personal Data Policy.

提交此表格，即表示您已阅读并理解鑫盟理财私人有限公司的个人数据政策