Personal Insurance FAQ

Are excluded conditions ever reviewed?
Yes. The nature and severity of the condition will determine the length and extent of the exclusion at outset, but it may be possible to remove an exclusion at subsequent renewal if the condition has not worsened or required treatment over a number of years.

Are Sports Injuries covered?
Generally both hazardous (for example scuba diving and surfing) and non hazardous sports injuries are covered. However, obvious examples of ‘sporting activities’ excluded would be any type of car racing or parachuting. Also sports participation as a professional should be considered excluded unless prior approval is given by the Insurer.

Are there any consequences for lying on your life insurance application?
Most life insurance policies have a two-year contestability period that allows a life insurance company to deny a death claim if it discovers that a policyholder lied about a medical condition on his or her application. For example, let's say you were a smoker but you did not disclose it on your application. If you died from lung cancer within two years of buying the policy, the insurer would have grounds to not pay the death benefit from your policy. However, if a policyholder lies on an application and dies after the two-year contestability period, the insurer could still pay a death claim equal to the amount of life insurance you would have purchased if you had disclosed your medical condition. For example, let's say you paid $500 a year for a $100,000 policy, and you died from lung cancer five years after you applied for coverage. The insurance company may pay your beneficiary a death benefit less than $100,000 because you were not paying the higher smoker rate for the same policy

Can I upgrade to a higher benefit level healthcare plan at any time?
Yes with many of the plans we offer. The Insurer will require a signed declaration that your medical history and health condition has not changed since the original application. If you pay by credit card, the increased benefit can begin immediately and the adjusted increase in premium will be debited automatically.If you pay by other means, increased cover begins on receipt of the additional premium due. A minority of companies allow changes to benefit at renewal only.

How is payment for medical treatment made?
All in patient hospital treatments require pre-authorization from the Insurance Provider who will make a payment guarantee to the hospital or medical facility where treatment is carried out. For all other treatments (outpatient) payment is made by the client and a reimbursement made to the individual’s bank account or by bankers draft. Routinely, claims are paid within 14 days of receipt of the required forms and original invoices. Asialife clients can access specific information on the claim process and download claim forms online here >> client log in.

I am a U.S citizen based in San Fransisco, can I apply for an International Healthcare Plan?
No. Cover is not available to citizens of the continent of North America being permanently resident in the continent of North America. Existing Policy holders who return to reside in North America must inform the Insurer of their intention to do so and cover is automatically cancelled after 90 days from the date of return. Cover is also unavailable to persons of any nationality and residence subject to exchange controls or local licensing restrictions.

If I undergo an operation in one country can I have follow up treatment in another?
Yes, provided the treatment is obtained within the geographic coverage you choose at outset. The benefit is available under Level 1 plans as ‘post hospital cover’ and to the specified benefit limit (usually 90 days from the date of discharge from hospital) or under the “Outpatient treatments” cover provided by other plans.

Is there an option to reduce or increase the deductible charged for outpatient treatment?
The deductible charged varies between Insurers but the standard amount is @ 40 US$. Discounts can be given for an increased deductible (for example 20% discount for 800 US$ deductible) and conversely an increase in premium of 10% will provide a zero deductible. Please ask for more detail when you submit your information here>> request a quote.

What does the life insurance application process involve?
Based on the information you supply to us, we will send you a quotation and application form. The application form will contain a series of questions on your medical history. It is important that these questions are answered fully. Medical report, blood test and medical examination may not be required for cover below 100,000USD but will be necessary for larger sums. Costs for medical examinations will be usually be paid by the Insurance company. Upon completion of the application and any physical exam, we will submit the information to the underwriting insurance company for offer of Insurance. Cover begins on the receipt of payment for the first premium.

What is a tied agent?
A tied agent represents one Insurance company and sells only its product. Asialife Invest represents a number of highly rated life insurance companies. As an independent agency, we are not tied to any single company's rates. We can match each client's needs with the company that's best suited to meet his or her individual situation.

What is Term life insurance?
Term life insurance is life insurance coverage at a guaranteed rate for a specified period of time. (Example: 30 year level term would guarantee a level premium for 30 years based on a specified death benefit). Term life insurance is usually the least expensive form of life coverage.

Will I be insured again at the end of the year if I make a major claim and require ongoing treatment?
Yes. The Insurance companies we deal with do not refuse to offer renewal terms simply because a client has submitted a sizeable claim and requires ongoing treatment. Circumstances which may lead to a cancellation of a policy or refusal to offer renewal terms are always outlined in the plan rules accompanying the policy document issued at outset. Generally this would only result from a misrepresentation of facts at application, a refusal by the client to provide reasonable information to support a claim or an attempt to defraud the Insurer.