Do u read the HIDDEN CLAUSES in your Policy Documents?

I just found out that under Annexure for IL Health Protector, Sec 6, Policy Conditions, Sub Sec 6.7. Renewability Privilege & Sub Sec 6.10. Portfolio Withdrawal Condition, GE reserves the right to cancel the portfolio as a whole if it decides to discontinue underwriting this insurance product.

In short, it means that whatever funky terms u purchase today might be withdrawn in the future. That's the fine prints u need to beware.

Isn't it that when we buy medical plan, we want the plan to be around and cover us until age 70, 80 or 100, and the terms and conditions to stay the same no matter what is the status of our health conditions by then?

We will definitely be more healthier today than 30 years down the road. But when our medical plan that we assumed will cover us until age 80, changed midway, or worst still, been withdrawn altogether, who will pay for our medical bills during our golden years?

A check at Prudential Policy Document revealed that, Prudential don't have such clauses that take advantages of it's clients.

Under Part 6: General Conditions for Annexure PRUhealth, Sub Sec A, Non-Cancellable. The Annexure is non-Cancellable by the Company except where there is fraud or any circumstance that renders the policy null and void, provided always that all premiums are duly paid AND that the Policy remains in force.

In summary, Prudential cannot withdraw the plan sold to us, nor can they change the terms or clauses in the Annexure as they like.

The purpose of bringing this up is so that u guys aware what u are getting yourself into when u got yourself a medical plan. Most never read the fine prints; while some don't really understand them after reading. Your Professional agents should be able to highlight to u above points and go through the policy document with u after the purchase.

Know your rights. U have 15 days cooling off period to read the policy document, and if u are unhappy with the terms and clauses, go back to the branch office to cancel your policy, u will get full refunds of your premiums.

READ the fine prints, so that one day, no one will scream, "Insurance is cheating me...!"