To ensure you receive the right service and proper advice, please buy insurance from contracted agents registered with an insurance company.

The insurance industry has tight control of all intermediaries to ensure the consumer's protection and to upgrade professionalism in this industry to serve the public.

Ever since the introduction of the Quality Control Guidelines by Bank Negara Malaysia in 1996, all insurance agents are regulated and they have to pass compulsory examinations and undergo mandatory training courses before they are authorised to sell.

With such regulations, buyers of insurance plans are assured of proper advice and service from contracted insurance agents.

Admittedly, in spite of the regulations and as in all professions, there will be a few bad agents. Fortunately, they make up only a small fraction of the total strength of professionals. It will be unfair to tarnish the whole insurance industry for the malpractices of only a few.

Judging from the monthly and annual payout of claims from insurers, the public in general has benefited from insurance plans and credit must be given to the majority of insurance agents who have done a good job to convince the public to own insurance plans.

It is important to understand that at the point of purchase, it is the buyer's duty and responsibility to complete the application form and to answer the questionnaire truthfully.

It is required that the buyer sign the application form, and legally, he is responsible for what is declared in the application form irrespective whether he sought the service of a third party to help fill his application form.

To avoid buyer's claim of ignorance and disputes, a copy of the application form is now attached to the insurance policy contract as a reference of what was declared at point of purchase.

It is also important to note the definition of each type of critical illness and its underlying conditions for claims, as all claims are paid according to their description and definition.

Over the years, definitions for critical illnesses have changed slightly. You may refer to your policy contract or you may receive assistance from your insurance agent.

Be sure to engage an agent who holds an agent's contract with an insurance company. Namlifa members are contracted agents with an insurer. To be sure, ask the agent if he is a member of Namlifa (National Association of Malaysian Life Insurance FieldForce and Advisers).

Major Leow Nan Chung
Secretary-General
Namlifa