Insurance policies

How do I claim for Critical Illness?

When I first joined this industry, I never had to make claims for critical illnesses or death for my clients as they were mainly young adults in their mid-20s to 30s. However, as my clientele base got older, this happened more frequently. I have had to process claims for hospitalisation, critical illnesses or accidents. In this article, I will talk about what is required to make a Critical Illness (CI) claim. This information will be useful for those new to the industry, as well as anyone with Critical Illness plans.

Meetings

Typical Claimant Scenarios

After being diagnosed with cancer, the clients I encounter are not only devastated by their medical condition, they become worried about their medical bills and expenses. Upon calling their agent they may find themselves in these situations:

  • Their agent is new to the industry and is not familiar with the claim process;
  • Their agent has left the industry, and the agent taking over the policies are new agents;
  • Their policies are from different companies, and they have to call each of their agents;
  • They call the customer service hotline and become confused and frustrated over the process and getting all the required documents to file the claim.

The best would be to have experienced agents/advisors to assist in their claims and guide them on the required process and the documents as follows:

Documents preparation 1

Documents required for CI claim

These are the three documents required to make a CI claim:

  1. Claimant Statement Form
  2. Clinical Abstract Application
  3. Doctor’s Statement
  4. All available Lab / tests results

A.      Claimant’s Statement Form

Obtain the claim form from the agent. This is to be filled up by the claimant or the agent can assist the claimant in filling it up. This form is for the claimant to notify the insurer by giving information of his/her critical illness condition. For example, treatments undertaken and dates of illness occurrence, etc. It informs the insurer that the claimant has this condition and would like to make a claim from the claimant’s life insurance policy.

Most clients are intimidated by the many pages of this claim form. This is where the agent can assist an already distressed claimant in completing the form. The claim form is separated by conditions and only relevant sections need to be filled up.

B.      Clinical Abstract Application

This should usually come together with the Claimant’s Statement Form. The Claimant must sign this application form and return this to the insurer. Nowadays, an e-signature is sufficient. This form authorizes the insurer to retrieve the necessary medical reports and documents from the hospital or clinic. The claimant will not incur any costs for making this authorization.

C.      Doctor’s Statement

This is the most important document required. The claimants can request this report via the Healthhub mobile app if it is from government restructured hospitals. For private hospitals, obtain the doctor’s statement using the hospital’s own mobile app or website.

Note that the report normally takes about 6 weeks to process. Upon receiving the report, make copies of the report for claims from different insurers.

D.     All available Lab / tests results

Claimant should also submit any medical report that they had on hand. This will definitely speed up the process of the claim.

Services

At Your Service

While the claim process is not difficult, it is not something that agents/advisors do daily and hence the procedure can be easily forgotten. Over the years, the claim process has been reviewed and simplified to what it is now. However, it can still be daunting to most consumers.

In the past, it is often said that “When you buy insurance, the agent is very helpful. But when you try to make a claim, no one is there to help you, not even the insurer.” In short, it’s easy to buy, but difficult to claim.

Here at Financial Alliance, we hope we can reverse this perception. Our advisors will be glad to help you if you have enquiries or need assistance in claims and general insurance matters. With close to 50 years of experience, I’m sure we will be able to help you.

Feel free to contact me using this form [Google Form]

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 independent 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:

Lim Jianming Jimmy

With a clear vision of what financial planning should look like, I can provide new, exciting, and different experiences of making your money work for you to live the life you want.

I encourage my clients to dream big and I will be there with you on your journey to make your dreams a reality by guiding you on every aspect of your financial and life planning; from managing your daily budget to designing and monitoring your investment portfolio.

With the understanding that everyone is different, my approach is to give you the time and environment to explore together what is important to you. Thereafter, I can put in place a financial plan to achieve your life’s goals and ambitions.

That is what I call Financial Life Planning.

Reach out to me to find out more via  Whatsapp or Email

 

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