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FAQ
Introduction
Need to know more about life insurance or your policy? Please click at any of these topics for the FAQ.
  • General
  • Auto Debit Service
  • Credit Card EasiPay Service
  • Nominee and Trustee
  • Assignment
  • Non-Forfeiture Option
  • Claims
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    Nominee/Trustee
    1. How is a trust created?
    Under Section 166 of the Insurance Act 1996, a trust is created in favour of the named nominees if the policy owner, other than a Muslim policy owner, nominates
  • His spouse or child; or
  • His parent where there is no spouse or child living at the time of nomination.
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    2.Do I have to appoint Trustee(s) when a trust is created in favour of the named nominees in my policy?
    It is not compulsory for a trustee to be appointed. However, it is advisable for the policy owner to appoint trustee(s) for ease of administration.
     
    3. Who can be the trustee?
    The policy owner can appoint a person of majority age [18 years of age] or a corporation to be a trustee.
     
    4. Can I amend my policy without the consent of my spouse / children if I nominate them as my nominee(s) at inception?
    By nominating your spouse / children as nominee(s) at inception, the policy is deemed to be a trust policy under Section 166 of Insurance Act 1996. The existing trustee(s) or the nominee(s) of a trust policy [in the absence of a trustee being appointed] must give their consent before any change can take place.
     
    5. How to revoke a nomination?
    Under the Insurance Act 1996, a nomination can be revoked in 3 ways:
     
  • upon death of the nominee, or where there is more than one nominee, upon the death of all the nominees, during the life-time of the policy owner;
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  • by a notice in writing given by the policy owner
  • by any subsequent nomination
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    Assignment of Policy
    6. What is an Absolute Assignment?
    It is the transfer of ownership of a life assurance policy to a separate entity [assignee]. The assignee becomes the new policy owner and the assignor has no further rights thereunder. However, premiums continue to be payable by the Payer.
     
    7. What is Conditional Assignment?
    It is the transfer of ownership of a life assurance policy to a separate entity [assignee] upon the death of the life assured. However, all the rights will be reverted back to the assignor if the assignee dies before the payment of the policy money becomes due or if the life assured survives till the maturity date of an endowment policy. The consent of the Conditional Assignee is required for further dealings under this policy.

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    Non-Forfeiture Option
    8. What are the options available if I wish to discontinue with the premium payments but at the same time do not lose the insurance cover?
    If you opt to discontinue with the future premiums, you may consider the following few options:
     
  • to let the policy run on Automatic Premium Loan (APL) if the policy has acquired Cash Surrender Value until the Cash Surrender Value is exhausted
  • to convert the policy to a Reduced Paid-up policy according to the amount of surrender value available. Future premiums are fully paid up and you continue to enjoy the insurance cover under the original period of insurance but with reduced sum assured
  • to convert the policy to an Extended Term Assurance according to the amount of surrender value available. The period of coverage depends on the amount of surrender value available. All riders attached will be terminated. The policy has now become a term policy with original sum assured less any outstanding loans. All future premium payments cease upon conversion.
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    9. What is Cash Value?
    Cash value simply means a sum of cash refund payable upon surrendering a life policy.
     
    10. What is APL?
    APL stands for "Automatic Premium Loan". APL is typically applicable by default after your policy acquired a surrender value. It is specified in the policy contract that any amount of unpaid premium will automatically be paid through a premium loan at the end of the grace period. You would have to pay back the loan with interest
     
    11. Can I borrow money against my life insurance policy?
    If you own a whole life or an endowment insurance policy, you can take out a policy loan against the cash value that had built up in the policy. Generally, the policy will acquire cash value after being in force for three full policy years. Compound interest is chargeable on the policy loan at a rate at which the Company shall determine from time to time. Any Policy Loan outstanding will be deducted before any claims is payable.
     
    12.When can I apply for a policy loan?
    A loan is available when the policy has acquired a cash value. A policy loan based on a percentage of the gross cash value subject to deduction of outstanding loan or APL, if any can be granted. Policy loans are not available for investment-linked, HealthCare and term policies.

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    Auto Payment Service (GIRO)
    13.What is the difference between GIRO and normal standing instructions (Banker's Order)
    GIRO is a computerised payment service where payments are made via computer tape between Great Eastern and the participating banks. If the GIRO payment is not successfully deducted, a Notice of Unsuccessful deduction will be sent to you. Banker's order is a standing instruction by the account holder to his banker to pay the premiums at regular intervals to GE. No notice of the unsuccessful deduction will be sent to the policy owner.
     
    14. How do I cancel my GIRO service?
    The account holder must inform the bank directly in writing and forward us the copy of the letter for our record purposes.
     
    15. Does GE issue any receipt for the payment through GIRO?
    No receipts will be issued for payment made by GIRO. The account holder must update the passbook regularly at the bank for confirmation of payments.
     

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    Credit Card Service (Easi-Pay Service)
    16. What is Easi-Pay Service
    The Easi-Pay Service is a facility for standing instruction of payment of premiums via Visa/Mastercard.
     
    17. How do I apply for the Credit Card Service?
    You will have to complete the Easi-Pay Service Application form and submit it to us at least 2 weeks before the premium due date.
     
    18. Can I repay my Automatic Premium Loan via credit card?
    The Easi-Pay Service is currently only applicable for premium payments. You will need to settle any outstanding Automatic Premium Loan before we can allow deduction via credit card.
     
    19. Are there any additional charges for this service?
    No, there are no additional charges for premiums paid via this facility.
     
    20. Are there any receipts issued for payments made via this service?
    There is no receipt issued. You are advised to check your monthly credit card statement. However, if a payment is not successfully deducted, a letter will be sent to the policy owner.
     
    21. Can I use my uncle's credit card to pay for my premiums?
    No. This facility is only applicable if you are the card holder or if the card holder is your spouse, child, parents or siblings.
     
    22. How do I cancel the service?
    You will need to inform us in writing in order for us to cancel this service.
     

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    General
    23. Who is the Policy Owner?
    The Policy Owner is the person who has the legal title to a policy
     
    24. Can new riders/benefits be attached to my policy after it is issued?
    Inclusion of riders will depend on the plan type of the basic policy, the policy duration and the availability of riders at the time of application. Supplementary benefits [e.g. Accident and Hospital benefits] can be included any time after the policy is issued. Applications for inclusion of riders/supplementary benefits are subject to underwriting and a policy fee of RM30.00 will be levied for inclusion of riders. Our underwriters may call for medical report if medical evidence is required. Medical costs, if incurred, will be borne by the policyholder
     

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    Claims
    What is a suicide clause?
    This clause stipulates that no claim is payable in the event of death due to suicide, whether sane or insane, within one year from inception of policy or from date of any reinstatement.
     
    What is a contestable period?
    Within the first policy year, the insurer has the right to void the policy due to non-disclosure, without the need to prove fraud or material misrepresentation.
     
    Who can certify claims documents?
  • Claims / Branch Officer
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  • Commissioner for Oaths
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  • Notary Public
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  • Advocate & Solicitor
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  • Justice of Peace
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  • Member of Parliament
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  • Ketua Balai Polis
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  • Penghulu
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  • District Officer
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    How do I submit a Death Claim?
    Death Claim Requirement List
  • Death Claim Form
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  • Original policy contract
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  • Death Certificate/ Burial Permit
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  • Statutory Declaration (if policy/assignment is lost or destroyed)
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  • Deed of Assignment
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    Death due to Illness
  • Doctor’s Statement

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    Death due to Accident

  • Accidental Death Benefit Claim form
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  • Police report / Police Investigation report
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  • Post Mortem report
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  • Toxicology report (if applicable)
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    Foreign Death
  • The Death Certificate has to be certified by the Malaysian Embassy or Consulate
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    Others
  • Proof Of Deceased's Age (NRIC/Passport/Birth Certificate)
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  • Proof of Relationship between Deceased & Claimant (Marriage Certificate/ Children’s Birth Certificate)
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  • Letter of Authorization/ Consent (completed by the next-of-kin)
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  • Authorisation To Collect Claim(s) Payment Cheque(s)
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    What are the Activities of Daily Living (ADL)?
    Activities of Daily Living are routine activities carried out for personal hygiene and health (eg. dressing, feeding, mobility, toileting, transferring and washing), essential to independent living
     
    What are the requirements for commonly claimed Dread Diseases?
    ILLNESS MEDICAL EVIDENCE
    Cancer Histopathology report
    Stroke CT scan/ MRI report
    Heart Attack Cardiac enzyme (Troponin T, CK, CKMB), ECG, Echocardiogram report
    Coronary Artery Bypass Surgery Coronary artery bypass report, Angiogram report & Echocardiogram report
    Other Serious Coronary Artery Disease Angiogram report & Echocardiogram report
    Kidney Failure Dialysis report, Ultrasound or CT scan report, Renal function test, Urinalysis
    Benign Brain Tumour Histopathology report or CT scan/ MRI report
    Benign Brain Tumour Histopathology report or CT scan/ MRI report
    Brain Surgery Craniotomy/ Brain surgery report, CT scan report
     
    What are the common reasons for a life insurer to refuse a claim?
  • Material non-disclosure.
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  • Policy not inforce, eg.
    •   - Lapsed after grace period (usually in the first three years of inception)
      - Expired due to cash value exhaustion
  • Suicide within one year of inception
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  • Hospitalisation or Covered Event took place within waiting period
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  • Event falls under an excluded risk,eg.
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      - Hospitalisation due to alcoholism or substance abuse.
  • Event not within scope of coverage,eg.
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      - No hospital admission, only outpatient treatment
      - Condition due to illness, and not accident
      - Event occurred before policy commencement date
  • Disability or illness does not meet policy definitions or terms and conditions
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