This is a discussion on Insurance for our little ones - Moratorium Underwriting within the Financial Asessment and Planning forum, part of the Home Planning Forum category; Hi mummies! So new to this forum, and not really sure how it works too... haha Just thought of sharing ...
So new to this forum, and not really sure how it works too... haha
Just thought of sharing my lil experience on the area of insurance for my boy boy. After being busy with boy boy full month celebration and got all my sufficient rest, husband and i feel that its time we get an insurance policy for boy boy. We begin with shield plan first as i feel its most crucial and affordable. Boy boy has [small subarterial ventricular septal defect] and we declared it in the application form. 2 weeks after, we got a letter that our proposal was being declined. There wasn’t an exclusion given at all. The health underwriting these days are really very stringent. And, because its being declined by one company, the chance of acceptance from other insurance companies is slim =( so boy boy does not have any shield plan for now.
At a secondary school gathering, i got to know that one of my friend is a financial adviser and she represent companies across the board. She is simply awesome and has given me much advice! Why didn’t I got to meet her earlier.... There is a thing called Moratorium Underwriting which you do not need to declare your medical history at the point of application (having said that, there are terms and conditions inside which is better to get an adviser to explain it to you) If i had gone for that, boy boy might have an shield plan coverage now, though the arterial condition might be excluded.
I must give credit and thanks to my friend cum personal financial adviser. Like most people, I used to be very sceptical about financial advisers as they are always asking me to buy policies. She’s totally different! I can sense her sincerity in helping me out. Other advisers wouldn’t have bothered about us since our case is being rejected. She say there is no harm trying again the next time if a favourable reports surface. And now I entrusted her with all my financial matters –mortgage, tax savings etc =) She’s a true adviser who cares and I dare recommend her if you mummies out there needs some financial advice.
PM me or leave me a post, can pass you her number =) God bless all who is reading this and smile always =D