I just realised, yesterday, that me and my wife's medical card policies were due or lapsed. I know they are due somewhere in Jul and is expecting the renewal notice. However, none came. So, I called the insurance company to do enquiry. Yah, they were due or lapsed because of late payment.
So, I made a visit to insurance company, told them the story of our policies. The staff said we can continue our policies by making the payments. The renewal notice is sent out by HQ and it seems like their system has some problem doing so. Many clients has faced the same problem and made complain.
Indeed, we have been with this insurance company for many years. This is the first time we do not receive our medical card policies renewal notice.
For our case, the insurance company accept our renewal because of the special reason. If it is the client who delay payment and cause the policy to lapse, the client needs to fill in a health questionnaire for the insurance company to do underwriting. This may place the client in a disadvantage position because the new underwriting may exclude certain, most needed, coverage.
Therefore, I think we, as client, need to do something to protect ourselves. Medical policies is one of the policies that I will not take risk to lapse.
What can we do?
1. Keep a list of all insurance policies and their renewal dates. The list can be in a sheet of paper or a phone calendar app.
2. IF possible, authorized for auto renewal through auto-debit or credit card.
3. Do a annual policies review. Do it on a date easy to remember - birthday, anniversary, specific public holiday etc.
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