# embeddings_queue

created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: d8507d12-e7ef-44e5-9aa1-a610a5a29465
encoding: FLOAT32
metadata:
{"_node_content": "{\"id_\": \"d8507d12-e7ef-44e5-9aa1-a610a5a29465\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"3f964ace-cdc7-4982-b3ad-8cd03789bdd0\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"3de7e5cb881036fdeb8b464655999abe0468cfae90b8dfe5462f9f153f0bd742\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"be7908d8-864b-4d42-bcfa-2f7577941ce6\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"2015c285a70b4e62444b586360478bda55e3fe90507cf175992075c86b634dc8\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1125507, \"end_char_idx\": 1130098, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "A.  Common  Sections Of The Fact-Find Document  \n \n3.2 You should  note that the format of the Fact -Find Document may vary from one \ninsurer to another.  \n \n3.3 Each section of the Fact-Find Document  serves a different purpose.  \n \n(a)   Important Notice to Client  \nThis section provides general information on the financial adviser and \nrepresentative and serves two purposes:  \n \n\nHealth Insurance   \n318 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] \u25aa Firstly, it gives the prospective  client  information on who  the insurance \nrepresentative is, which insurers he represent s and what product \nclasses he can provide advice on.  \n \n\u25aa Secondly, it highlights to the  prospective  client the importance of \nproviding accurate information on the Fact-Find Document . This is \nbecause a policy purchased with partial completion or inaccurate \ncompletion of a Fact-Find Document may be inappropriate to his needs.  \n \n(b)  Application Type  \n The prospective client can choose one of three types of disclosure he wish \nto share with the adviser . \n \nApplication Type 1 . \u201cI/We wish to disclose all information requested for in \nthis Form. \u201d This is meant for those who wish to complete the fact find in \nfull, so as to receive rec ommendations on product suitability.  \n \nThe prospective  client has to complete and sign \u201cKnow Your Client\u201d and \n\u201cOur Advice and Reasons Why\u201d Forms.  \n \nApplication Type 2 . \u201cI/We wish to receive product advice only. \u201d This is \nmeant for people who do not wish to,  or are unable to provide all \ninformation requested in the form. It is suitable for those who wish to \nreceive recommendation on product suitability . \n \nThe prospective client has to complete Section 2 \u2013 \u201cOur Advice and \nReasons Why\u201d, sign Section 3 \u2013 Acknowledgement . \n \nApplication Type 3.  \u201cI/We do not wish to receive any advice from my/our \nadvis er.\u201d This is only suitable for people who already know which Medical \nInsurance product and amount of coverage that they want to pu rchase. \nFor example, a prospective client wants to purchase \u201clump sum Health \nInsurance plan1\u201d. The representative takes the prospective client\u2019s \ninstructions and assists the prospective client in his completion of the \nproposal form, as well as understanding of the benefit illustration.   \n \nAt the end of this section, the  prospective client has to sign and confirm \non the chosen  application type  before moving on to the other parts of the \nfact-find form.  \n \n(c) Personal Information : Information  on per sonal details like  the name, \nsalutation, identity card/passport number, date of birth, marital status and \ngender , serves the following purposes:  \n\u25aa it is essential for administrative purposes on the part of the company;  \n \n\u25aa it provides you with a preliminary assessment of the types of products \nthat will likely be needed. For example, if the prospective client is a \n \n1  It refers to a specific Health Insurance plan  that is without sub -limits and it is payable on a lump sum \nbasis.  \n\n14. Financial Needs Analysis  \n \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   319  \nsingle working individual, he may need a Disability Income Insurance \npolicy to protect his earnings in the event of his disability; and  \n \n\u25aa information pertaining to age is essential for underwriting and \npremium determination.  \n \nAs you can see, the information is important and you need to ensure that \nthe prospective client completes the section correctly.  \n \n(d)  Information on employment details  asks for the  prospective  client\u2019s \ncurrent occupation , as well as the monthly income range. The prospective \nclient\u2019s current occupation will provide you with the following information:  \n\u25aa whether the prospective client is eligible for Disability Income \nInsurance (DII). DII is not issued to any unemployed  person,  nor anyone \nwho do es not have a stable job (e.g. an odd job labourer);  \n \n\u25aa enables you to determine the deferred period for a DII policy. A self -\nemployed pers on will need the insurance cover as soon as possible , \nwhereas for an employee, he may be able to afford a longer deferred \nperiod , as he may continue to receive his pay from his company for a \nperiod of time (e.g. six months) while he is disabled;  \n \n\u25aa enables y ou to know whether the prospective client is exposed to any \noccupational hazards (e.g. radiographers may be exposed to ionising \nradiation) and accidents (e.g. construction workers have a high chance \nof getting injured at the worksite)."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: be7908d8-864b-4d42-bcfa-2f7577941ce6
encoding: FLOAT32
metadata:
{"_node_content": "{\"id_\": \"be7908d8-864b-4d42-bcfa-2f7577941ce6\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"d8507d12-e7ef-44e5-9aa1-a610a5a29465\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"676e55a422beb3f8bcd7fd83f092d6ddd3487f9f8b094c03912023a782e07321\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"5d17eee3-c9b8-4324-80f5-92d2c602997b\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"7f26e8bfc656ca906995d6bad7e21f72549cc4cea19772026636f25dbdfb824f\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1129948, \"end_char_idx\": 1134674, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "radiographers may be exposed to ionising \nradiation) and accidents (e.g. construction workers have a high chance \nof getting injured at the worksite). If so, you have to a sk for more \ninformation to assist the underwriter in assessing the risk.  \n \n \n \n \n \n \n \n \nThe monthly income range will enable you to know roughly whether the \nprospective  client can afford to purchase any insurance policy from you. \nDo not stop using the fact -find just because you think that the prospective \nclient is not likely to be able to afford the premium.  \n \nIf the prospective  client has a need for one of the A&H Insur ance policies , \nbut is not able to afford the premium, what you can do is to look at his \nexpenses to see if you can help him to review and prioritise his expenses , \nso as to  release the necessary funds to purchase the policy that he needs. \nIf the prospective client really cannot afford to purchase any polic y at this \ntime, what you can do is to point out the needs that you have uncovered \nfor him. Inform him that you can meet u p with him again when his \nfinancial situation improves , and highlight the importance of being \nfinancially protected.  \n \n\nHealth Insurance   \n320 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] (e)  Information on details of spouse and dependants  is necessary for the \nfollowing purposes:  \n\u25aa identification in the event of a claim;  \n\u25aa premium determination;  \n\u25aa any occupational hazards (in respect of the \nspouse);  \n\u25aa eligibility to be covered as a dependant (this is because A&H Insurance \npolicies that provide coverage for any dependant has an age limit t o \nqualify as a dependant);  and \n\u25aa determine whether there is a need to provide A&H Insurance cover for \nthe dependants.  \n \nNote that even if family coverage is not required, it will be good to find \nout about the spouse and details of the dependants . This is because a \nprospective client who has dependants has an even greater need for \nHealth Insurance protection, especially the need to cover for loss of \nincome resulting from  illness or sickness. You may also check whether the \nother categories of people , besides those who are married , have any \ndependants. This is because they may have aged parents or handicapped \nsiblings to take c are of , and the dependants will have an effect on the \nprospective client\u2019s needs.  \n \nBy understanding more about the prospective client, you will obtain useful \ninformation , when you are analysing the prospective client\u2019s needs to \nprovide more accurate advice. However, do note that this is not \ncompulsory , unless the prospective client is intending to apply for family \ncoverage. Some prospective clients may not wish to disclose such \ninformation.  \n \nThe Fact-Find Document may also ask for additional information on the \nprospective client\u2019s language proficiency , educational level and \naccompaniment. The information is useful to establish if the prospective \nclient is considered vulnerable. For example, a prospective client  who is \nnot pr oficient in written and spoken English and/or possess  primary \nschool education  may be considered as vulnerable , and the supervisor of \nthe insurance representative will make a call -back to the prospective client , \nto ensure that he has understood the recom mendations and products  for \nwhich  he has applied . \n \n(f)  Existing Health Insurance Policies /Existing Insurance Portfolio : This \ninformation will indicate how far the prospective clients\u2019 existing plan(s) \nwill go towards meeting their needs in the event of ill health or disability. \nIn other words, they serve as a starting or reference point for any further \nA&H Insurance recommendations.  \n \nNote that the policy  or policies  that you are recommending should \ncomplement those that the prospective client already has. You should \navoid asking the prospective client to replace his existing policies with \nnew ones or cause him to be over -insured, especially for those A&H \npolicies (e. g. Medical Expense Insurance) that are subject to the Co-\nordination of Benefit Clause.  \n\n14. Financial Needs Analysis  \n \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   321  \nAs most prospective clients do not really know what policies they have \npurchased, it is good that you ask for the policy documents to extract the \ninformation that you ne ed.  \n \n(g)  Personal Priorities  and Objectives : This information will enable you to tell \nwhat the prospective client\u2019s priorities are with regard to the type of A&H \npolicies that he may need. However, it does not mean that you must follow \nstrictly what the prospective client has indicated."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 5d17eee3-c9b8-4324-80f5-92d2c602997b
encoding: FLOAT32
metadata:
{"_node_content": "{\"id_\": \"5d17eee3-c9b8-4324-80f5-92d2c602997b\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"be7908d8-864b-4d42-bcfa-2f7577941ce6\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"2015c285a70b4e62444b586360478bda55e3fe90507cf175992075c86b634dc8\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"d907d169-0616-4b27-97e9-36db19f99b6b\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"d5dbbc2ec08c0f18f92c3dc38ad0a66733f5a6808b848656e617a9df847d318f\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1134575, \"end_char_idx\": 1138884, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "However, it does not mean that you must follow \nstrictly what the prospective client has indicated. As a professional \ninsurance representative,  you should consider the overall profile of the \nclient and help him to re -prioritise the needs that he has s pecified.  \n \n(h)  Health Condition : If this information is required to be completed in the \nFact-Find Document , it will help to determine whether the prospective  \nclient is insurable and , if so, on what terms.   \n \nIf the prospective client answered \u201c Yes\u201d to this question, find out the \nfollowing information from him , so that you can help to expedite the \nunderwriting process:  \n\u25aa the medical term of the illness (if the client knows. If not, ask him to \ngive a description of it) ; \n\u25aa the date of onset of the medical condition ; \n\u25aa the type of medical treatment received ; \n\u25aa is he still undergoing medical treatment?  \n\u25aa is there any hospitalisation? If so, to find out when  is the hospitalisation , \nand what type of medical treatment is being received ; \n\u25aa is there any recurrence?  \n\u25aa whether he has fully recovered and if so, when?  and \n\u25aa does he have any medical report on his condition? If so, you must \nobtain a copy from him for submission to the underwriter. You will \nneed to inform the prospective client that the i nformation will form part \nof the insurer \u2019s risk assessment process. Note that you must not keep \nany copy of the report , and that you must treat the information with \nstrict confidentiality.  \n \n(i) Replacement of Policy : If the prospective  client\u2019s answer is \u201cYes\u201d, you \nhave to:  \n\u25aa explain to the prospective client the consequences of replacing policies , \nby highlighting the following disadvantages to him:  \n- that he may not be insurable at standard terms , if there is any \ndeterioration in his health , or if he has changed to a risky occupation, \netc.; \n- that he may have to pay a higher premium; and  \n- that the terms and conditions may be less advantageous  or \nbeneficial , especially if there are any changes to his h ealth.  \n \n \n\n\nHealth Insurance   \n322 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] (j) Customer\u2019s Financials:  The Life Insurance Fact-Find Document has a \nsection to gather information , such as customer\u2019s investment profile, cash \nflow and budget , as well as assets and liabilities . Information gathered \nhere serves to ascertain the affordability of the recommendation and plans , \nand facilitate s the planning  of financial needs.  \n \n(k) Representative\u2019s Declaration : Before you sign this section, reiterate to the \nprospective client that you will treat the information given in the Fact-Find \nDocument with strict confidentiality , and that you will use it  only for the \npurpose of determining suitable insurance products for him , and not for \nany other purposes , bearing in mind the requirements under the Personal \nData Protection Act 2012.  This will help to establish trust between you \nand the prospective client.  \n \n3.4 Having  completed the Fact-Find Document , you will then move on to  the next \nstep to help the prospective client , to identify and quantify his needs.  \n \n \n4. IDENTIFYING & QUANTIFYING NEEDS   \n \nA. Identifying Needs  \n \n4.1 You begin by analysing  the information which you have gathered during the \nfact-find stage. You should ask yourself the following questions as you go \nthrough the Fact-Find Document : \n\u25aa Does he have an emergency fund in place?  \n\u25aa What is his employment status and occupation?  \n\u25aa Which life stage is he in?  \n\u25aa Does he have any dependants?  \n\u25aa Does he or his dependants (if a ny) have any I ndividual Life or Health \nInsurance , or Group Medical Insurance (such as Group Critical Illness \nInsurance, Group Hospital & Surgical Insurance) in place?  \n\u25aa Does he or his dependants have a need for  Life or  Health Insurance?  \n\u25aa Can he afford to purchase any insurance policy that you are going to \npropose to him?   \n\u25aa Has he stated his priorities correctly?  \n \nA1. Emergency Fund  \n \n4.2 An emergency  fund is useful to guard aga inst the breadwinner\u2019s loss of a job \nor a short -term disability that interrupts the  financial  flow of income to the \nfamily. It also provides for certain expenses not covered by insurance, such as \nthe costs of a child\u2019s tuition ."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: d907d169-0616-4b27-97e9-36db19f99b6b
encoding: FLOAT32
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{"_node_content": "{\"id_\": \"d907d169-0616-4b27-97e9-36db19f99b6b\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"5d17eee3-c9b8-4324-80f5-92d2c602997b\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"7f26e8bfc656ca906995d6bad7e21f72549cc4cea19772026636f25dbdfb824f\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"ab032bfa-c19c-48c6-95a4-e941310a5a26\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"d308ebb4d0f9113f492441dc6f537d7d6be34d7c8e8457b4588abb5d0b33bebb\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1138779, \"end_char_idx\": 1142888, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "It also provides for certain expenses not covered by insurance, such as \nthe costs of a child\u2019s tuition . \n \n4.3 If the prospective client does not have an emergency fund in place, it may affect \nhis ability to service any policies that he may purchase from you.  \n \n\n14. Financial Needs Analysis  \n \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   323  \nA2. Employment Status & Occupation   \n \n4.4 See information on employment details under Section 3. 3(d) of this chapter.  \n \nA3. Life Stage s \n \n4.5 Most people will go through the following life  stages:  \n\u25aa childhood;  \n\u25aa young unmarried;  \n\u25aa young married;  \n\u25aa married with  young  children;  \n\u25aa married with older children;  \n\u25aa pre-retirement; and  \n\u25aa retirement.  \n \n4.6 During his active employment years, it is crucial to ensure  that one protect s his \nearnings against disability resulting from  injury or long -term sickness . \n \n4.7 The need for protection against ill health applies to everyone at any stage  in his \nlife. For older  people , they  will have a greater need for Critical Illness Insurance, \nMedical Expense Insurance and Long -Term Care Insurance , as there is a higher \nchance of them falling sick or getting injured.  \n \nA4. Dependants  \n \n4.8 If the prospective  client has dependants, provision should be made for their \nmedical expenses  to avoid any financial burden , in case any of the dependants \ncontract s a major illness or become s disabled .  \n \nA5. Existing Insurance Policies  \n \n4.9 If the prospective  client and his dependants have any  Life and  Health Insurance, \nyou need to compare the benefits under his existing policy with his current \nneeds , to see if the  prospective  client is sufficiently covered. Let us look at how \nthis can be done.  \n \n(i) Disability Income Insurance  \nFor a prospective client who already has a Disability Income Insurance \npolicy, compare the level of cover with his current income level to see if \nthe cover is sufficient. Check if the policy covers up to the target retirement \nage, the length of the deferred period , and whet her the prospective client\u2019s \nemployer provides him with any disability income benefit. Remind the \nprospective client not to over -insure because of  the Limitation Clause \nunder the Disability Income Insurance policy.  \n \n(ii) Life Insurance with Total & Permanent Di sability Benefit  \nThe p rospective client (or his spouse) who may not be actively employed \n(e.g. housewife) can consider to get protection for disability with the TPD \n\n\nHealth Insurance   \n324 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] benefits under Life Insurance. You can check for any TPD benefits that the \nprospective client already has by reviewing the existing life insurance \npolicies.  \n \n(iii) Medical Expense Insurance  \nIf the prospective client has a Medical Expense Insurance policy , including \nthe Medisave -approved Integrated Plan , you need to find out the exact \ncoverage , such as the hospital and ward entitlement of the plan, the \nannual and lifetime limits, and  the policy  co-insurance and deductible , if \nany. Also  look at the expiry ag e and the renewability condition.  You must \nensure that the prospective client will be adequately covered  in his \npreferred hospital and ward type  in the event of hospitalisation , and that \nhe will enjoy the coverage for as long as possible  and will not  risk losing \nhis coverage at a time when he needs it most.   \n \nIn addition , you also need to keep in mind  the Co-ordination of Benefit \nClause.  Example 1 4.1 gives an illustration of how this C lause works.  \n \nExample 1 4.1: Illustration Of  The Working Of The Co -ordination Of Benefit Clause  \n \nAllison has been recently hospitalised for eight (8) days for an operation to \nremove her womb. Her total hospital bill comes out to be  S$22,400. She has \nreceived S$11,000 reimbursement under her company\u2019s Group Medical Expense \nInsurance policy and is now waiting for the reimbursement from her own Private \nMedical Insurance (PMI)."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: ab032bfa-c19c-48c6-95a4-e941310a5a26
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{"_node_content": "{\"id_\": \"ab032bfa-c19c-48c6-95a4-e941310a5a26\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"d907d169-0616-4b27-97e9-36db19f99b6b\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"d5dbbc2ec08c0f18f92c3dc38ad0a66733f5a6808b848656e617a9df847d318f\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"02137669-dc02-4400-9664-49e8d9d00dd5\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"424c7881886fdc8dc001a7931dbc85b992311ee4b3bc46208c7e3b4ce80ede67\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1142700, \"end_char_idx\": 1146905, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "She has \nreceived S$11,000 reimbursement under her company\u2019s Group Medical Expense \nInsurance policy and is now waiting for the reimbursement from her own Private \nMedical Insurance (PMI).  \n \nDetails of her hospital bills and PMI (no deductible nor c o-insurance) are \nas follows:  \n \nDescription  Hospital Bills  Limits Under \nPMI Amount  \nCovered Under \nPMI \nRoom & Board  S$300 x 8 = \nS$2,400  S$250 per day  S$250 x 8 = \nS$2,000  \nSurgery  S$20,000  S$10,000  S$10 ,000 \nTotal  S$22,400   S$12,000  \n \nApplying the Co-ordination of Benefit Clause, since the Group Medical Expense \nInsurance policy has already paid her S$11,000, the amount which she can claim \nfrom her PMI will be the minimum of the:  \n\u25aa balance bill i.e. S$22 ,400 - S$11,000 = S$11,400 or  \n\u25aa amount covered unde r PMI i.e. S$12,000  \n \nIn this instance, she will claim S$11,400  from her PMI , even though the above \ntable shows a slighter higher amount. Hence, the total amount which she will \nreceive from all her health policies is S$22,400 which does not exceed the actual \nhospital expenses incurred.  \n*Note: The above  example  is only an illustration and that the sub -benefits of the group \nmedical expenses are more or less in sync to her PMI.  \n \nWith the illustration  in Example 1 4.1, you will appreciat e the importance \nof knowing the prospective client\u2019s current insurance benefits, his \npersonal expectation of the types of medical care , and his ability  to pay \n\n14. Financial Needs Analysis  \n \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   325  \nthe premium s. Over -purchase of Medical Insur ance is not necessary , but \nunder -insurance risk is equa lly disastrous.  \n \n(iv) Critical Illness Insurance  \nFor Critical Illness Insurance, review  whether it is a stand -alone policy or \na rider attached to a n ILP, Term, Endowment or  Whole Life Insurance \npolicy. It is good to ensure that the prospective  client will have the Critical \nIllness Insurance cover even in his old age . For example, if the prospective \nclient has an Endowment type of Critical Illness Insurance policy, his CI \nInsurance cover will terminate once the policy matures. Usually, this will \nhappen at a time when he needs the cover most. Also  find out the \npercentage of the sum insured that will be payable in the event that your \nclient suffers a critical illness , since you know that this policy can be issued \nas a 100% or 50% acceleration (Note: Accelerated Benefits accelerate the \nlump sum benefit of the basic plan upon diagnosis of a covered critical \nillness  as defined in the policy ).  \n \nFor CI with less than 100%  Acceleration, you may wish to recommend him \nto add o n the Critical Illness Waiver of Premium rider to the policy , For \nclients with life policies, they may also wish to consider adding the CI \nWaiver of Premium rider . In doing  so, future premiums can be waived in \nthe event of a critical illness , so that any premium payable for the  balance \ncoverage  will be waived  and the coverage can continue  should he be \ndiagnosed to be suffering from a critical illness. In this way, the balance \nof the sum assured can then be preserved for his dependants upon his \ndeath.  \n \nYou should also take note of the maximum aggregate sum assured that \neach client is entit led to , if the insurer  that you are selling for has such a \npractice.  \n \n(v) Personal Accident Insurance  \nFor this class of policy, you need to find out the extent of its cover age, \nincluding the details of its exclusion s and limitations . This will enable you \nto assess whether the prospective client is adequately covered.  \n \n(vi) Long -Term Care Insurance  \nReview the benefits that are payable and the benefit trigger point , the \ndefinitions used for the Activities of Daily Living (ADLs) and the num ber \nof ADLs needed before the benefits are payable. In addition, you need to \nfind out if it is a reimbursement type of benefit , where the \npayment is based on the actual amount of expenses \nincurred.  \n \n(vii) Managed Healthcare Insurance  \nFind out the exact amount s of deductible and co -insurance that the \nprospective  client has to bear."}


created_at: 2024-03-15 18:52:31
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In addition, do bear in mind the Co-\nordination of Benefi t Clause.  \n \n \n\nHealth Insurance   \n326 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] (viii) Hospital Cash Insurance  \nHospital Cash Insurance  pays  on top of all other Health Insurance plans. \nYou need to find out the daily benefit and the maximum number of days \nthat the benefit is payable.  \n \n(ix) Life Insurance & Work  Injury  Compensation Insurance  \nFind out if the prospective client is covered under the statutory Work  Injury  \nCompensation Insurance policy and whether he has any Life Insurance \npolic y.  \n \nWork  Injury  Compensation Insurance policy pays in the event of any \naccident resulting in hospitalisation, permanent incapacity and/or death  \nwhile arising out of and in the course of employment  and its payment will \naffect how the other policies (with Co-ordination of Benefit  Clause ) pay . \nThe total and permanent disability benefit under the Life Insurance polic y \ncan be used to help the  prospective  client, to overcome his financial \ndifficulties in the event  that he is totally and permanently disabled.  \n \nA6. Need For Health Insurance  \n \n4.10 Having gone through the list of questions  in the Fact -Find Document , you are \nnow in a position  to tell whether the prospective client has a need for Health \nInsurance  and, if so, whether he can afford it. If the client does not have any \nneed for more Health Insurance  coverage , you should not persuade him to \npurchase any such polic y. Instead, you should do a review with him when his \ncircumstances change (e.g. having a newborn child). On the other hand, if the \nprospective client does have a need for Health Insurance , and he has the means \nto pay for it, the next step that you have to carry out is to quantify the \nprospective client\u2019s Health Insurance needs.  \n \nB. Quantifying Needs  \n \n4.11 Needs quantification  is not mandatory , but a n industry  \u201cbest practice\u201d. For the \npurpose of  quantifying Health Insurance needs, we will focus on the Protection \nand Accident & Health sections of the Form. Here is how the quantification of \nthe prospective client\u2019s needs is done.  \n \nB1. Disability Income Protection Needs  \n \n4.12 Disability  Income Protection Needs is also known as Maintenance Costs. This is \nthe amount that is required to meet the ongoing maintenance of the prospective \nclient and his dependants, i.e. their daily living expenses.  \n \n4.13 There are commonly three  methods  (as described below)  to quantify this.  \n \n \n \n \n \n \n \n\n14. Financial Needs Analysis  \n \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   327  \nMethod 1  \nUsing the monthly salary, 75% of it is his income protection need in the event \nof his disability.  \n \nDisability Income Protection = 75% x monthly income  : S$X \nLess  \nExisting disability benefit per month  : (S$X)  \nEstimated level of disability income protection needed  : S$XX  \n \nMethod 2  \nThis method uses monthly expenses instead of income to determine the \ncoverage needed.  \n \nTotal monthly expenses  : S$X \nLess  \nExisting disability benefit per month  : (S$X)  \nEstimated level of income protection needed  : S$XX  \n \nMonthly expenses should include the amount that the prospective client spends \non himself , as well as  on his family. This is because when a person is disabled, \nthe usual expenses will continue , and on top of that, the prospective client also \nhas to take care of his medical expenses. This method provides  the minimum \namount that is required to sustain the prospective client\u2019s living expenses in the \nevent of a disability. Example 1 4.2 shows you how to compute the amount of \nincome protection needed in the event of a disability using Method 2 . \n \nExample 1 4.2: Computing The  Amount Of Disability Income Protection Needs  \n \nBen, age d 35  years , has indicated in his Fact-Find Document that his family\u2019s living \nexpenses (inclusive of that of his own) is S$3,000 per month. He has also indicated \nthat he wishes to have an income in the event that he is disabled and is not able to \nwork."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: c2aa9caf-926f-40c8-b7bb-f36fba22c16a
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{"_node_content": "{\"id_\": \"c2aa9caf-926f-40c8-b7bb-f36fba22c16a\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"02137669-dc02-4400-9664-49e8d9d00dd5\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"424c7881886fdc8dc001a7931dbc85b992311ee4b3bc46208c7e3b4ce80ede67\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"61326748-d0b6-4584-9dd0-468342c9a71c\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"2d89c5ff9ee2442d8de7c74b48d9ffd19d1a984f21eb4d81deecd221b6428b14\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1150942, \"end_char_idx\": 1154123, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "He has also indicated \nthat he wishes to have an income in the event that he is disabled and is not able to \nwork. So far, he does not have any insurance coverage other than the Central \nProvident Fund  (CPF)  Board\u2019s Dependant s\u2019 Protection Scheme (DPS)2, Home \nProtection Scheme and IncomeShield Plan MA, as well as his em ployer\u2019s Group Term \nLife Insurance of S$100,000  sum assured , and Hospital and Surgical Insurance \ncoverage of up to S$50,000 without any sub -limits. The amount of disability income \nprotection that he needs is:  \n \nTotal monthly expenses  : S$3,000  \nLess    \nExisting disability benefit per month   : S$       0  \nExisting hospital cash benefit per month  : S$       0  \n  ________  \n \nEstimated level of income protection needed  : S$3,000  \n \n \n \n \n \n2  DPS is a low cost  term -life, opt -out insurance scheme that provides a basic coverage of up to S$46,000 \nto the family of  insured in the event of his death or total and permanent  disablement . \n\nHealth Insurance   \n328 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] Method 3  \nThere may be circumstances under which the prospective client may not want , \nis not able to afford a Disability Income Insurance  (DII) policy  or simply does \nnot have an income to be eligible for a DII policy . For such a prospective client, \nyou can help to p rovide him with total and permanent disability benefits usually \nincorporated into a Life Insurance policy.  \n \nThis method provides a lump sum benefit should a person become totally and \npermanently disabled.  \n \nExample 1 4.3 illustrates how you can compute the amount of total and \npermanent disability benefits which the prospective client will need.  \n \nExample 1 4.3: Computing The Amount Of Total And Permanent Disability (TPD) \nBenefit  \n \nFollowing Example 1 4.2, the amount of TPD benefit that Ben needs per year is as \nfollows:  \n \nYearly income needed = family\u2019s average living expenses x 12  \n                                = S$3,000 x 12  \n                                = S$36,000  \n \nAssuming that the annual inflation rate and expected rate of return from investments \nremain constant at 2% and 4% respectively, the expected rate of return from fun ds \n(adjusted for inflation) = 4% - 2% =2%  \n \nIf the number of years that the income is needed is 25 (to be determined by the \nclient), then the estimated funds required to provide income  is: \n=S$36,000 x 19.9139  (refer to Table A2 at the end of this Study Guide ) \n=S$716, 900 \n \nLess  \nFunds available + Existing Insurance *  \n= S$(46,000 + 100,000)  \n= S$146,000 \n \nAdditional amount of total and permanent disability benefit required  \n= S$(716,900 \u2013 146,000)  \n= S$570,900    \n \n*only consider those existing insurance policies which ha ve a TPD benefit.  Group \nTerm Life and DPS both have TPD benefit s. \n \n4.14 Having learnt how to determine the maintenance cost, let us now learn how to \ndetermine the medical costs.  \n \nB2. Medical Costs   \n \n4.15 Medical costs  refer to the immediate hospital and medical expenses associated \nwith an injury or illness resulting in the prospective client being hospitalised  for \ntreatment or surgery."}


created_at: 2024-03-15 18:52:31
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Medical Costs   \n \n4.15 Medical costs  refer to the immediate hospital and medical expenses associated \nwith an injury or illness resulting in the prospective client being hospitalised  for \ntreatment or surgery.  \n \n\n\n14. Financial Needs Analysis  \n \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   329  \n4.16 To quantify medical cost needs, you need to  discuss and make some \nassumptions  with the prospective clients  as follow s: \n\u25aa the most common conditions for a person to be hospitalised;  \n\u25aa the cost of treatment  for any one particular illness , such as a heart conditio n; \n\u25aa The hospital type and ward the client would opt for in the event of \nhospitalization;  \n\u25aa The need to provide coverage for medical cost from the first dollar or can \nhe accept a co -payment;  \n\u25aa The continuous affordability of medical insurance premiums when he is  no \nlonger working  \n \n4.17 The data are available from the Ministry of Health (MOH) Website at: \nwww.moh.gov.sg . Examples of the two sets of data are given in Appendices  \n14A and 14B. As they change over time, it is advisable for you to refer to the \nMOH Website every time when you need information on such data.  \n \n4.18 In addition, the following factors should be considered and discussed with the \nprospective client, with appropriate  adjustme nts made, if necessary : \n\u25aa as Group Insurance is not portable , that is  the prospective client may lose his \nGroup Insurance cover age when he leaves the organis ation later, he may \nwish to consider removing his Group Insurance coverage from any \ncomputation;  \n\u25aa the prospective  client may be concerned with  the treatment cost of more \nthan one medical condition in a year.  \n \nB3. Hospital Cash Insurance  \n \n4.19 The way to compute the amount of Hospital Cash Insurance required is as \nfollows:  \n \nTotal monthly expenses  S$ X \nLess  \nExisting hospital cash benefit per month   (S$ X) \nEstimated level of income protection needed  S$XX \n \nAssuming Eugene \u2019s monthly expenses is S$2,500;  the amount of Hospital Cash \nIncome required is as follows:  \n \nMonthly expenses                             S$ 2,500  \nLess  \nExisting hospital cash benefit per month                                    (S$     0)               \n                                \nEstimated level of income protection needed  _S$ 2,500  \n \nTherefore, the amount of Hospital Cash income required is:  \n= S$2,500 \uf0b8 30 days  \n= S$83.33 per day  \n  \n\n\nHealth Insurance   \n330 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] B4. Critical Illness Insurance  \n \n4.20 Besides taking care of hospitalisation expenses and disability income, the  \nprospective  client may also want a lump sum payment for his rehabilitation \nexpenses , to defray expenses not covered by other Health Insurance policies , \nand to maintain his family living expenses,  as well as to handle any emergency \nexpenses , if he contracts a dread disease  or critical illness.  A Critical Illness  (CI) \nInsurance policy is suitable for these purpose s. You will need to calculate the \namount of CI Insurance cover  that is required.  \n \n4.21 The calculation is really more of an art than a science , since there are many \nuncertainties. Some factors to consider for the prospective client are described \nbelow : \n(a) Which dread disease is  he most susceptible to? His family medical hist ory \nmay shed some light on this answer. Therefore, medical costs can be \napproximated.  \n \n(b) His family\u2019s needs and expenses . \n \n(c) His family\u2019s level of dependence on  him. \n \n(d) Does he already have  sufficient Medical Expense Insurance and/or \nDisability Income Insurance?  \n \n(e) His desired level of medical treatment , e.g. private or public hospital.  \n \n(f) Whether he wants to buy an Additional Benefit Type or Acceleration \nBenefit Type of CI Insurance . If he decides on the Additional Benefit  Type, \nthen he must be informed that the coverage will normally cease at the age \nof 65 years , unlike the Acceleration Benefit Type. Since the Acceleration \nBenefit Type is usually attached to a Whole Life Insurance polic y, this type \nof benefit will last the whole of life.  \n \n(g) Does he want a benefit on early diagnosis of a critical illness, does he want \nto be able to make multiple critical illness claims, does he want to cover \nother conditions such as diabetes or mental illnes s?  \n \n(h) His preference and comfort level."}


created_at: 2024-03-15 18:52:31
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{"_node_content": "{\"id_\": \"7e5a4199-b904-4bf0-a73a-918fc6320da0\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"61326748-d0b6-4584-9dd0-468342c9a71c\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"2d89c5ff9ee2442d8de7c74b48d9ffd19d1a984f21eb4d81deecd221b6428b14\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"da55f416-7e8f-421b-b1c3-20f9834d96b7\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"c9c250f8ad4edc43e1282dc1d853df4995548b828543708eab676d559083b50e\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1158358, \"end_char_idx\": 1162848, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "(h) His preference and comfort level. Some prospective clients w ill require  \nonly S$50,000 CI Insurance cover, while others will feel that even \nS$500,000 cover is insufficient.  \n \n4.22 After an agreement has been reached with him as to the CI Insurance cover \nrequired, you will be able to calculate the shortfall in cover by deducting away \nthe current CI Insurance cover that he already has.  \n \n4.23 Having seen how a prospective client\u2019s needs for  Health Insurance are \nquantified, we now move on to see how to go about recommending the most \nsuitable products to meet the prospective client\u2019s needs.  \n \n \n\n14. Financial Needs Analysis  \n \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   331  \n5. PRODUCT RECOMMENDATIONS   \n \n5.1 There are three basic principles that you should be aware of , before you start \nmaking any product recommendations  to the prospective client . They are:  \n\u25aa recommend products only if he needs them; and  \n\u25aa recommend products which are only the most suitable for him, given his  \nexisting  circumstances.  \n\u25aa if he needs a product that the company you represent does not carry, let him \nknow , so that he can find alternatives.  \n \nA. Product Suitability  \n \n5.2 In order for you to determine if a product is suitable for the prospective  \nclient, you need to have a good understanding of the pr oducts \navailable.  \n \nA1. Good Product Knowledge  \n \n5.3 You should be familiar with the following aspects of your  company\u2019s  products:  \n\u25aa What is the product range?  \n\u25aa What does the product serve to do? For example, reimbursement of \nexpenses or replacement of income?  \n\u25aa What are the eligibility criteria for making a claim under the policy?  \n\u25aa Does the policy have any waiting period? If so, find out the duration and \neffective date of the waiting period.  \n\u25aa Is the policy guaranteed renewable, optionally renewable, conditi onally \nrenewable or cancellable?  \n\u25aa What are the exclusions and limitations under the policy?  \n\u25aa Does the policy have any special feature s, such as the survival period under \na Critical Illness Insurance policy , and the requirement to inform the insurer \nof any change in occupation under a Disability Income Insurance policy?  \n\u25aa Is the policy subject to any C o-ordination of Benefit  Clause ? \n\u25aa Does the policy have any deductible or co -insurance  feature ? \n\u25aa Is there any per d ay, per year or per lifetime limit under the policy?  How \nmuch are the limits?  \n\u25aa When and how are the benefits payable? For example, a Hospital Cash \n(Income) policy pays a flat amount for each day of hospitalisation  capped at \na certain number of days.  \n\u25aa What ar e the distribution costs, charges and expenses levied on the products?  \n\u25aa What is the duration of cover under the policy?  \n\u25aa What are the premium s and the frequency  modes for premium payments , \nand are they subject to change s? \n\u25aa Is there a grace period allowed for the payment of premium due and, if so, \nwhat is the time frame?  \n\nHealth Insurance   \n332 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] \u25aa What is the implication of non -payment of premium?  \n\u25aa What are the medical and non -medical limits (i.e. the underwriting guideline s \non when a medical test is required for the assessment of an app lication) of \nthe products?  \n\u25aa Which types of policies have n on-forfeiture options?  \n\u25aa Is there any geographical limit imposed on the policy?  \n \nB. Affordability  \n \n5.4 Affordability is an important factor when selecting the most suitable product to \nrecommend to the prospective client. Most policies require regular premiums \nto be paid . Being able to afford the initial premium does not mean that he will \nbe able to sustain the regular payments. For policies paid with Medisave, you \nhave ensure d that his Medisave is enough to support continuity of the policy, \neither with his current balance or his future regular contribution to his Medisave \nAccount.  A prospective client who cannot afford the premiums in the longer \nterm will allow his policy to lapse. The insurer, the insurance representative and \nthe prospective client do not benefit from early  policy  lapses. From the \nprospective client\u2019s standpoint, he loses the co verage. The insurance \nrepresentative loses the prospective client\u2019s goodwill and the commission \npayable under the policy. The insurer has to absorb the high initial cost of \nunderwriting the policy."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: da55f416-7e8f-421b-b1c3-20f9834d96b7
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{"_node_content": "{\"id_\": \"da55f416-7e8f-421b-b1c3-20f9834d96b7\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"7e5a4199-b904-4bf0-a73a-918fc6320da0\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"9630774620dd0d5dc4c64dd39eec4be3cd8a0afcb8f0f8ba0801b6a4c41355ef\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"5b7cdb69-bcd3-43ad-bbf7-d12c03cd529c\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"0998be1f2226290da63c6ad79f4793270cd51147291f5862f5b661ce6303024c\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1162656, \"end_char_idx\": 1167182, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "The insurance \nrepresentative loses the prospective client\u2019s goodwill and the commission \npayable under the policy. The insurer has to absorb the high initial cost of \nunderwriting the policy.  \n \nC. Important Points To Note On Policy Selection  \n \n5.5 When  decidi ng on which policy is most suitable for the prospective client, you \nwill have to consider all the factors which we have gone through in this chapter. \nIn addition, it is important that you should also consider the points as listed in \nTable 1 4.1 below . \n  \nTable 1 4.1: Important Points To  Note On Policy Selection  \n \n \n\u25aa Ensure that the new  recommended  policy provides cover  only for his \ncoverage shortfall  to minimi se over -insurance . \n\u25aa Ensure that the prospective client has the longest coverage possible , as \nHealth Insurance is needed most when one is old.  \n\u25aa Ensure that the prospective client can afford the premium  in the long term . \n\u25aa Ensure that the prospective client is not over -insured.  \n\u25aa Ensure that the policy insures  the right life (e.g. if the husband is the sole \nbreadwinner, then you should ensure that he is properly covered first , \nbefore you recommend any products to his dependants).  \n\u25aa Ensure that the prospective client with dependants  has sufficient death \nprotection  in place.  \n\u25aa Recommend a rider if it can help to save premium s (provided that the \nexpiry age of the rider will not be shortened by the term of the basic policy).  \n\u25aa For Critical Illness  (CI) Insurance , take note of the two type s of cover - \nAdditional Benefit Type and Acceleration Benefit Type . Discuss the  \n\n14. Financial Needs Analysis  \n \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   333  \nfollowing with the client - expiry age, premium difference, whether he \nshould take up a CI rider if he has existing life policies . \n\u25aa Consider to attach the CI W aiver of Premium rider for the client who  has \nother life insurance protection.  \n\u25aa For the prospective client who is covered under his employer -sponsored \nMedical Expense Insurance (MEI) and has a need for additional MEI cover, \nensure that the  proposed  plan complement the one provided by the \nemployer. For example, most employer -sponsored MEI policies provide \ncover from the first dollar onward s, but the coverage is low. In such a case, \nyou can propose a Major MEI to your client.   \n\u25aa Always check for altern ative policies to the one that you are recommending \nto give the prospective client more choices. This gives the prospective \nclient more flexibility in terms of the premium s and benefits that meet his \nneeds.   \n \n \n6. PRESENTING YOUR RECOMMENDATIONS    \n \n6.1 To ensure  that the prospective client understands the products recommended \nand the reasons for your recommendations, you should explain the features \nand benefits of the recommended products , and how these fit into his situation.  \n \n6.2 Before meeting  the prospective client to go through your recommendation , \nplan how you would like to present to him . It is advisable that you follow a \nsystematic process.  \n \n6.3 An example below  shows a systematic process  to explain your \nrecommendations to the prospective client in a sequen tial order.  \n \n \n1. State the purpose of the product (i.e. the need which is actually being met by \nthis product) . \n \n2. Give a description of the nature of the product . \n \n3. Brief the prospective client on the benefits and limitations of the product . \n \n4. Give a detailed explanation on the options within the product . \n \n5. Give a summary of the reasons why the product is being recommended . \n \n6. Explain the benefit illustration and highli ght the guaranteed and non -\nguaranteed benefits (if applicable) .  \n \n7. Disclose any distribution costs, charges and expenses under the policy.  \n \n \n \n6.4 During the meeting, communicate clearly and simply. Avoid using technical \njargon. If the prospective client accepts your recommendations, you have to \nensure that all relevant forms required by your principal (insurer) are properly \ncompleted. In the case wh ere the prospective client decides not to take up any \nof your recommendations, you may seek to clarify his reasons for not accepting \nyour recommendations. However, you should not insist if the prospective client \nrefuses to explain. Thank the prospective  client for his time before leaving.  \n\nHealth Insurance   \n334 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4]  \n \n7."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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PERIODIC CLIENT REVIEW  \n \n7.1 The process of identifying and satisfying your client\u2019s needs does not stop with \nthe implementation of the initial recommendations. Your client\u2019s personal \ncircumstances are likely to change and n ew needs may surface  over time . Such \nchanges may affect the initial product recommendations , as they may no longer \nbe adequate. Regular reviews will ensure that your existing client continues to \nreceive quality service from you , and also reinforces your re lationship  with your \nexisting client .  \n \n7.2 The question of when and how often the existing client\u2019s position should be \nreviewed depends on some extent of the initial advice provided by you , and \nalso on the  existing client\u2019s own wishes for a review. Generally, you should do \na review with your existing client under the following circumstances:  \n\u25aa a change in the client\u2019s personal circumstances, such as the birth of a child;  \n\u25aa external developments , such as changes in the CP F ruling which can have an \nimpact on the client\u2019s financial position and/or the appropriateness of \nproducts already held;  \n\u25aa the original products purchased by the client are not adequate to cover all \nhis needs; and  \n\u25aa the launching of new products in the fina ncial services market.  \n \n7.3 Regular reviews benefit both you and your client. As a professional insurance \nrepresentative, you should ensure that the products recommended meet with \nthe client\u2019s current needs . You should also seek to arrange regular meetings \nwith him to address his future needs.  \n \n7.4 The long -term needs of the client should be a principal concern , and your \nrelationship with him should also be a n ongoing one.  \n \n \nDo not recommend \nany further Health \nInsurance policies to \nthe prospective client \nif he has adequate \nmedical cover, as he \nmay not be able to \nclaim under all the \ninsurance policies.  \n \n\n14. Financial Needs Analysis  \n \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   335  \nAPPENDIX  14A \n \nTop 10 Conditions of Hospitalisation  \n \n \n \nTotal  No. of Discharges  ('000)   2016  \n 2017  2018  \n 569.2   593.8   611.9  \n% of Total  Discharges     \n1. Accident,  poisoning  & violence   8.3  8.4  8.6 \n2. Cancer   5.9  5.9  5.8 \n3. Pneumonia   3.2  3.3  3.2 \n4. Ischaemic  heart  diseases   3.1  3.2  3.1 \n5. Intestinal  infectious  diseases   2.8  2.6  2.7 \n6. Other  heart  diseases   2.5  2.5  2.5  \n7. Infections  of the skin and \nsubcutaneous  tissue   2.1  2.1  2.3 \n8.  \nDiabetes  mellitus   1.7  1.8  2.1 \n9. Cerebrovascular  diseases  (including  \nstroke)   1.8  1.9  2.0 \n10. Accute  upper  respiratory  infections   1.9  2.1  1.9 \n \nSource: MOH Website \u2013 \u201cTop 10 Conditions of Hospitalisation \u201d \n \nhttps://www.moh.gov.sg/resources -statistics/singapore -health -facts/top -10-conditions -of-\nhospitalisation  \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\nHealth Insurance   \n336 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] APPENDIX  14B \n \nHOSPITAL BILL SIZE BY CONDITIONS/PROCEDURES  \n \nHeart Coronary Disease, Coronary Artery Bypass Graft (Open)  \n \nPrivate Hospital  \n \nInpatient  25% of patients are \ncharged  \nbelow:  50% of patients are \ncharged  \nbelow:  75% of patients are \ncharged  \nbelow:  \nTotal Bill Amount  $67.272  $75,398  $88,942  \nOperation Fee  \n \ni. Surgeon Fee  \nii. Anaesthetist Fee  \niii."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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Facility Fee  $43,195  \n \n$24,557  \n$3,500  \n$15,611  $50,874  \n \n$27,820  \n$4,815  \n$19,093  $57,724  \n \n$30,495  \n$5,350  \n$24,158  \nImplant  n/a n/a n/a \nOther Fee  $20,451  $25,533  $33,216  \n \n \nPublic Hospital (Ward A)  \n \nWard A  25% of patients are \ncharged  \nbelow:  50% of patients are \ncharged  \nbelow:  75% of patients are \ncharged  \nbelow:  \nTotal Bill Amount  $36,091  $38,485  $42,876  \nOperation Fee  $16,877  $18,019  $19,012  \nImplant  n/a n/a n/a \nOther Fee  $17,931  $20,576  $23,183  \n \n \nPublic Hospital (Ward B2)  \n \nWard B2  25% of patients are \ncharged  \nbelow:  50% of patients are \ncharged  \nbelow:  75% of patients are \ncharged  \nbelow:  \nTotal Bill Amount  $7,266  $8,006  $9,016  \nOperation Fee  $1,287  $1,287  $2,061  \nImplant  $0 $0 $9 \nOther Fee  $5,724  $6,387  $7,556  \n \n \nSource : https://www.moh.gov.sg/cost -financing/fee -benchmarks -and-bill-amount -\ninformation/Details/SD812H --1 \n \n \n \n \n \n \n \n\n50\nFINANCIAL NEEDS ANALYSISCHAPTER\n14\nIMPORTANT CONCEPTS DEFINITIONS/EXPLANATIONS\nNeeds selling versus \nproduct sellingNeeds selling is more desirable than product selling because it is:\n\u2022 Service-oriented.\n\u2022 Not pressure selling.\n\u2022 Relationship based.\nWhat is fact-finding? \u2022 Fact-finding is the process of obtaining answers to a series of questions about a \nprospective client\u2019s personal circumstances, finance and ambitions, etc. for the \nfuture.\nPurposes served by the \nvarious sections of the \nFact-Find Document\u2022 Important notice to client\n \u00bbGives the prospective client information on who the insurance \nrepresentative is, which insurers he represents and what product classes he \ncan provide advice on.\n \u00bbHighlights to the prospective client the importance of providing accurate \ninformation on the Fact-Find Document.\n\u2022 Application type\n \u00bbTypes of disclosure.\n \u00bbApplication type 1,2 or 3.\n\u2022 Personal information\n \u00bbEssential for administrative purposes on the part of the company.\n \u00bbPreliminary assessment of the types of products that will likely be needed.\n \u00bbInformation pertaining to age is essential for underwriting and premium \ndetermination.\n\u2022 Information on employment details\n \u00bbEligibility for Disability Income Insurance (DII).\n \u00bbDetermine the deferred period for a DII policy.\n \u00bbKnow whether the prospective client is exposed to any occupational \nhazards.\n \u00bbAffordability.\n\u2022 Information on details of spouse and dependants\n \u00bbIdentification in the event of a claim; \n \u00bbPremium determination;\n \u00bbAny occupational hazards (in respect of the spouse);\n \u00bbEligibility to be covered as a dependant (this is because A&H Insurance \npolicies that provide coverage for any dependant has an age limit to qualify \nas a dependant); and\n \u00bbDetermine whether there is a need to provide A&H Insurance cover for the \ndependants.\n\u2022 Existing health insurance policies / existing insurance portfolio\n \u00bbIndicate how far the prospective clients\u2019 existing plan(s) will go towards \nmeeting their needs in the event of ill health or disability.\n\u2022 Personal Priorities and Objectives\n \u00bbEnable the representative to tell what the prospective client\u2019s priorities are \nwith regard to the type of A&H policies that he may need.\n\n51\nIMPORTANT CONCEPTS DEFINITIONS/EXPLANATIONS\nPurposes served by the \nvarious sections of the \nFact-Find Document\u2022 Health condition\n \u00bbHelp to determine whether the prospective client is insurable and, if so, on \nwhat terms.\n\u2022 Replacement of policy\n \u00bbIf prospective client\u2019s answer is \u201cyes\u201d, the representative is required to \nexplain to the prospective client the consequences of replacing policies.\n\u2022 Customer\u2019s financials\n \u00bbAscertain the affordability of the recommendation and plans, and facilitates \nthe planning of financial needs."}


created_at: 2024-03-15 18:52:31
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{"_node_content": "{\"id_\": \"c86214f9-0b92-4780-8b8f-6e26340f2a3d\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"183b3695-83c5-42ff-8210-943d9df00cd1\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"4501b7f265255ae7cf107622935290988dac08b6d01989e2c902219f3c7842d9\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"355642fa-3611-477e-80bb-74d14f3ef9f2\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"22af6c85d997a02915627f5735c94f1e0a2ae284d22b5da075d94c7c9577e07c\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1174157, \"end_char_idx\": 1178923, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "\u2022 Customer\u2019s financials\n \u00bbAscertain the affordability of the recommendation and plans, and facilitates \nthe planning of financial needs.\n\u2022 Representative\u2019s declaration\n \u00bbDeclaration on treating the information given in the Fact-Find Document \nwith strict confidentiality and use it only for the purpose of determining \nsuitable insurance products, and not for any other purposes, bearing in \nmind the requirements under the Personal Data Protection Act 2012\n \u00bbEstablish trust between the representative and the prospective client.\nSample questions to be \ntaken into consideration \nwhen going through the \nprospective client\u2019s Fact-\nFind Document to identify \nhis needs\u2022 Does he have an emergency fund in place?\n\u2022 What is his employment status and occupation?\n\u2022 Which life stage is he in?\n\u2022 Does he have any dependants?\n\u2022 Does he or his dependants (if any) have any Individual Life or Health Insurance, \nor Group Medical Insurance (such as Group Critical Illness Insurance, Group \nHospital & Surgical Insurance) in place?\n\u2022 Does he or his dependants have a need for Life or Health Insurance?\n\u2022 Can he afford to purchase any insurance policy that you are going to propose to \nhim? \n\u2022 Has he stated his priorities correctly?\nImportance of an \nemergency fundGuard against the breadwinner\u2019s loss of a job or a short-term disability that \ninterrupts the financial flow of income to the family.\nWhich stage of the \nprospective client\u2019s life \ncycle versus where the \nneed to protect one\u2019s \nearnings against disability \nand ill health, is critical\u2022 During active employment years, it is crucial to ensure that one protects his \nearnings against disability resulting from injury or long-term sickness.\n\u2022 Need for protection against ill health applies to everyone at any stage in his life.\n\u2022 For older people, they will have a greater need for Critical Illness Insurance, \nMedical Expense Insurance and Long-Term Care Insurance, as there is a higher \nchance of them falling sick or getting injured.\n\u2022 If there are dependants, provision should be made for their medical expenses \nto avoid any financial burden, in case any of the dependants contracts a major \nillness or becomes disabled.\nKnow what to do if the \nprospective client has a:\n\u2022 Disability Income \nInsurance\u2022 Compare the level of cover with his current income level to see if the cover is \nsufficient.\n\u2022 Check if the policy covers up to the target retirement age, the length of the \ndeferred period, and whether the prospective client\u2019s employer provides him \nwith any disability income benefit.\n\u2022 Remind the prospective client not to over-insure because of the Limitation \nClause under the Disability Income Insurance policy.\nKnow what to do if the \nprospective client has a:\n\u2022 Life Insurance with \nTotal & Permanent \nDisability BenefitCheck for any TPD benefits that the prospective client already has by reviewing the \nexisting life insurance policies.\nKnow what to do if the \nprospective client has a:\n\u2022 Medical Expense \nInsurance\u2022 Find out the exact coverage, such as the hospital and ward entitlement of the \nplan, the annual and lifetime limits, and the policy co-insurance and deductible, \nif any.\n\u2022 Look at the expiry age and the renewability condition.\n\u2022 Ensure that the prospective client will be adequately covered in his preferred \nhospital and ward type in the event of hospitalisation, and that he will enjoy the \ncoverage for as long as possible and will not risk losing his coverage at a time \nwhen he needs it most.\n\u2022 Keep in mind the Co-ordination of Benefit Clause.\n\n52\nIMPORTANT CONCEPTS DEFINITIONS/EXPLANATIONS\nKnow what to do if the \nprospective client has a:\n\u2022 Critical Illness \nInsurance\u2022 Review whether it is a stand-alone policy or a rider attached to an ILP, Term, \nEndowment or Whole Life Insurance policy.\n\u2022 Take note of the maximum aggregate sum assured that each client is entitled \nto, if the insurer has such a practice.\nKnow what to do if the \nprospective client has a:\n\u2022 Personal Accident \nInsuranceFind out the extent of its coverage, including the details of its exclusions and \nlimitations to assess whether the prospective client is adequately covered.\nKnow what to do if the \nprospective client has a::\n\u2022 Long-Term Care \nInsurance\u2022 Review the benefits that are payable and the benefit trigger point, the \ndefinitions used for the Activities of Daily Living (ADLs) and the number of ADLs \nneeded before the benefits are payable.\n\u2022 Find out if it is a reimbursement type of benefit, where the payment is based on \nthe actual amount of expenses incurred.\nKnow what to do if the \nprospective client has a:\n\u2022 Managed Healthcare \nInsurance\u2022 Exact amounts of deductible and co-insurance that the prospective client has to \nbear. \n\u2022 Bear in mind the Co-ordination of Benefit Clause."}


created_at: 2024-03-15 18:52:31
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{"_node_content": "{\"id_\": \"355642fa-3611-477e-80bb-74d14f3ef9f2\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"c86214f9-0b92-4780-8b8f-6e26340f2a3d\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"a99b46517eb539e3c8b0296a99660f3b2a2112a7003bc865b79ee17e135575c9\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"e5ffeac2-5238-424f-ad37-49922a5ec078\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"33ef7c9d737482d0077e8a18383aea67e4027c531c7910915e18f53fb814c009\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1178701, \"end_char_idx\": 1183563, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "Know what to do if the \nprospective client has a:\n\u2022 Managed Healthcare \nInsurance\u2022 Exact amounts of deductible and co-insurance that the prospective client has to \nbear. \n\u2022 Bear in mind the Co-ordination of Benefit Clause.\nKnow what to do if the \nprospective client has a:\n\u2022 Hospital Cash \nInsuranceFind out the daily benefit and the maximum number of days that the benefit is \npayable.\nKnow what to do if the \nprospective client has a:\n\u2022 Life Insurance \nPolicy & Work Injury \nCompensation \nInsuranceFind out if the prospective client is covered under the statutory Work Injury \nCompensation Insurance policy and whether he has any Life Insurance policy.\nQuantify disability income \nprotection needs\u2022 Method 1\n \u00bbUsing the monthly salary, 75% of it is his income protection need in the \nevent of his disability.\n\u2022 Method 2\n \u00bbThis method uses monthly expenses instead of income to determine the \ncoverage needed.\n\u2022 Method 3\n \u00bbThis method provides a lump sum benefit should a person become totally \nand permanently disabled.\nQuantify medical and \nancillary costsTo quantify medical cost needs, the representative needs to discuss and make \nsome assumptions with the prospective clients as follows:\n\u2022 The most common conditions for a person to be hospitalised; \n\u2022 The cost of treatment for any one particular illness, such as a heart condition;\n\u2022 The hospital type and ward the client would opt for in the event of \nhospitalisation;\n\u2022 The need to provide coverage for medical cost from the first dollar or can he \naccept a co-payment;\n\u2022 The continuous affordability of medical insurance premiums when he is no \nlonger working.\nQuantify hospital cash \nincome needsEstimated level of protection needed = \nTotal monthly expense \nLess \nExisting hospital cash benefit per month\n\n53\nIMPORTANT CONCEPTS DEFINITIONS/EXPLANATIONS\nQuantify Critical Illness \nInsuranceCalculation is really more of an art than a science, since there are many \nuncertainties. Some factors to consider for the prospective client are described \nbelow:\n\u2022 Which dread disease is he most susceptible to? His family medical history may \nshed some light on this answer. Therefore, medical costs can be approximated.\n\u2022 His family\u2019s needs and expenses.\n\u2022 His family\u2019s level of dependence on him.\n\u2022 Does he already have sufficient Medical Expense Insurance and/or Disability \nIncome Insurance?\n\u2022 His desired level of medical treatment, e.g. private or public hospital.\n\u2022 Whether he wants to buy an Additional Benefit Type or Acceleration Benefit \nType of CI Insurance. If he decides on the Additional Benefit Type, then he must \nbe informed that the coverage will normally cease at the age of 65 years, unlike \nthe Acceleration Benefit Type. Since the Acceleration Benefit Type is usually \nattached to a Whole Life Insurance policy, this type of benefit will last the whole \nof life.\n\u2022 Does he want a benefit on early diagnosis of a critical illness, does he want to \nbe able to make multiple critical illness claims, does he want to cover other \nconditions such as diabetes or mental illness? \n\u2022 His preference and comfort level. Some prospective clients will require only \nS$50,000 CI Insurance cover, while others will feel that even S$500,000 cover is \ninsufficient.\nBasic principles before \nmaking any product \nrecommendation\u2022 Recommend products only if the prospective client needs them.\n\u2022 Recommend products which are only the most suitable for the prospective \nclient, given his existing circumstances.\n\u2022 If prospective client needs a product that the company you represent does not \ncarry, let him know, so that he can find alternatives.\nSample questions to ask \nfor better understanding \nof the product\u2022 What is the product range?\n\u2022 What does the product serve to do? For example, reimbursement of expenses \nor replacement of income?\n\u2022 What are the eligibility criteria for making a claim under the policy?\n\u2022 Does the policy have any waiting period? If so, find out the duration and \neffective date of the waiting period.\n\u2022 Is the policy guaranteed renewable, optionally renewable, conditionally \nrenewable or cancellable?\n\u2022 What are the exclusions and limitations under the policy?\n\u2022 Does the policy have any special features, such as the survival period under a \nCritical Illness Insurance policy, and the requirement to inform the insurer of \nany change in occupation under a Disability Income Insurance policy?\n\u2022 Is the policy subject to any Co-ordination of Benefit Clause?\n\u2022 Does the policy have any deductible or co-insurance feature?\n\u2022 Is there any per day, per year or per lifetime limit under the policy? How much \nare the limits?\n\u2022 When and how are the benefits payable? For example, a Hospital Cash (Income) \npolicy pays a flat amount for each day of hospitalisation capped at a certain \nnumber of days.\n\u2022 What are the distribution costs, charges and expenses levied on the products?"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"e5ffeac2-5238-424f-ad37-49922a5ec078\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"355642fa-3611-477e-80bb-74d14f3ef9f2\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"22af6c85d997a02915627f5735c94f1e0a2ae284d22b5da075d94c7c9577e07c\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"7b612c7f-1201-44a1-91b9-0f7efcc5bf17\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"c83ba485ff7d86af7397f8c35e200332cd8a647c0e251d8455768a3239a708ec\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1183350, \"end_char_idx\": 1188118, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "For example, a Hospital Cash (Income) \npolicy pays a flat amount for each day of hospitalisation capped at a certain \nnumber of days.\n\u2022 What are the distribution costs, charges and expenses levied on the products?\n\u2022 What is the duration of cover under the policy?\n\u2022 What are the premiums and the frequency modes for premium payments, and \nare they subject to changes?\n\u2022 Is there a grace period allowed for the payment of premium due and, if so, what \nis the time frame?\n\u2022 What is the implication of non-payment of premium?\n\u2022 What are the medical and non-medical limits (i.e. the underwriting guidelines \non when a medical test is required for the assessment of an application) of the \nproducts?\n\u2022 Which types of policies have non-forfeiture options?\n\u2022 Is there any geographical limit imposed on the policy?\n\n54\nIMPORTANT CONCEPTS DEFINITIONS/EXPLANATIONS\nWhy is affordability an \nimportant factor when \nselecting a suitable \nproduct to recommend to \nthe prospective client?\u2022 Affordability is an important factor when selecting the most suitable product to \nrecommend to the prospective client. \n\u2022 Most policies require regular premiums to be paid. Being able to afford the \ninitial premium does not mean that he will be able to sustain the regular \npayments.\n\u2022 The insurer, the insurance representative and the prospective client do not \nbenefit from early policy lapses. \n \u00bbThe prospective client loses the coverage. \n \u00bbThe insurance representative loses the prospective client\u2019s goodwill and the \ncommission payable under the policy. \n \u00bbThe insurer has to absorb the high initial cost of underwriting the policy.\nImportant points on policy \nselection\u2022 Ensure that the new recommended policy provides cover only for his coverage \nshortfall to minimise over-insurance.\n\u2022 Ensure that the prospective client has the longest coverage possible.\n\u2022 Ensure that the prospective client can afford the premium in the long term.\n\u2022 Ensure that the prospective client is not over-insured.\n\u2022 Ensure that the policy insures the right life.\n\u2022 Ensure that the prospective client with dependants has sufficient death \nprotection in place.\n\u2022 Recommend a rider if it can help to save premiums.\n\u2022 For Critical Illness (CI) Insurance, take note of the two types of cover - Additional \nBenefit Type and Acceleration Benefit Type.\n\u2022 Discuss the following with the client - expiry age, premium difference, whether \nhe should take up a CI rider if he has existing life policies.\n\u2022 Consider to attach the CI Waiver of Premium rider for the client who has other \nlife insurance protection. \n\u2022 For the prospective client who is covered under his employer-sponsored \nMedical Expense Insurance (MEI) and has a need for additional MEI cover, \nensure that the proposed plan complement the one provided by the employer.   \n\u2022 Always check for alternative policies to the one that you are recommending.\nExample of a systematic \nprocess of explaining \nrecommendations to the \nprospective client\u2022 State the purpose of the product (i.e. the need which is actually being met by \nthis product).\n\u2022 Give a description of the nature of the product.\n\u2022 Brief the prospective client on the benefits and limitations of the product.\n\u2022 Give a detailed explanation on the options within the product.\n\u2022 Give a summary of the reasons why the product is being recommended.\n\u2022 Explain the benefit illustration and highlight the guaranteed and non-\nguaranteed benefits (if applicable). \n\u2022 Disclose any distribution costs, charges and expenses under the policy.\nWhen the reviews for \nprospective client are \nnecessary?\u2022 A change in the client\u2019s personal circumstances, such as the birth of a child.\n\u2022 External developments, such as changes in the CPF ruling which can have an \nimpact on the client\u2019s financial position and/or the appropriateness of products \nalready held. \n\u2022 Original products purchased by the client are not adequate to cover all his need.\n\u2022 Launching of new products in the financial services market.\n\n15. Case Studies  \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   337  \n \n      CHAPTER 15  \nCASE STUDIES  \n \n \n \n \nCHAPTER OUTLINE  \n \n1. Introduction  \n2. Case Study 1 \u2013 Individual Health Insurance  \n3. Case Study 2 \u2013 Group Health Insurance  \nAppendi ces 15A & 15B \u2013 Mr Tang\u2019s Existing Health Insurance Policies  \n \n \nLEARNING OUTCOMES  \n \nAfter studying this chapter, you should be able to:  \n\u25aa know how to apply the principles that you have learnt from the \nprevious chapters to carry out a proper needs -based sale s advisory \nprocess through looking at two case scenarios  \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nHealth Insurance   \n338 Copyright reserved by the Singapore College of Insurance Limited [Version 1."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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INTRODUCTION  ................................ ................................ ................................ ....... 339 \n2. CASE STUDY 1 \u2013 INDIVIDUAL HEALTH INSURANCE  ................................ ............  339 \nA. Maintenance Costs  ................................ ................................ ..............................  340 \nB. Medical Costs  ................................ ................................ ................................ ....... 341 \n3. CASE STUDY 2 \u2013 GROUP HEALTH INSURANCE  ................................ ....................  347 \nAPPENDIX 15A  ................................ ................................ ................................ ................  350 \nAPPENDIX 15B  ................................ ................................ ................................ ................  351 \n \n \n\n\n15. Case Studies  \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   339  \n1. INTRODUCTION  \n \n1.1 In this chapter, we bring you through two case studies to show you how the \nwhole needs -based sales process may be carried out.  \n \n1.2 Note that the case studies given in this chapter are meant only to provide you \nwith an illustration of how needs -based selling is done for Health Insurance. \nThe circumstances can differ across time and across individuals , as well as \ncorporations. Hence, the examples given here cannot be used as a \ncomprehensive guide for every situation. You should also keep abreast of the \nLIA and GIA Guidelines On Disclosure Requirements and Needs -Based Sales \nProcess for A&H Insurance Products.  \n \n1.3 Let us begin by looking at a case study on an individual client.  \n  \n \n2. CASE STUDY 1 \u2013 INDIVIDUAL HEALTH INSURANCE  \n \n2.1 Angela  has done  a fact -find with  Tommy Tang, her new client who is a \nSingapore Citizen.  Below is a summary of the data that she has extracted from \nthe Fact-Find Document :  \n \nMr Tang  : 38 years old  \nMrs Tang  : 37 years old , housewife  \nSon  : 5 years old  \nDaughter  : 1 year old  \n \n2.2 Existing  Health Insurance Policies:   \n\u25aa Group Hospital & Surgical (H &  S) Insurance (Plan A) (See Appendix 1 5A) \n \n2.3 Angela has also obtained the following information from Tommy : \n\u25aa Mr and Mrs Tang have sufficient cover for death protection.  \n\u25aa His family\u2019s average monthly expenditure is S$3,000 and his income is \nS$4,000.  \n\u25aa He has not set aside any funds for protection planning , other than his savings \nwhich is intended to meet any emergency needs, such as hospitalisation.  \n\u25aa He likes to have  a Critica l Illness Insurance policy of S$200,000 for himself \nand S$100,000 for his wife.  \n\u25aa He thinks that he will need maintenance cost for 21 years for his wife in the \nevent of his disability , as the youngest child should be independent by then.  \n\u25aa The estimated expenses required for the children in the event of Mrs Tang\u2019s \ndisability are S$1,500  per month . \n\u25aa He and his family would stay in the A ward of a public  hospital should they \nbe hospitalised.  \n\u25aa His budget for Health Insurance cover is S$700 per month.  \n \n2.4 Having gathered the necessary information, Angela  then proceeds to analyse \nthe insurance needs of Tommy  and his family members . \n\nHealth Insurance   \n340 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] A. Maintenance Costs  \n \n2.5 The most  suitable policy for maintenance cost is Disability Income Insurance .  \n \n2.6 Tommy does not have a  Disability Income Insurance policy. He has indicated in \nhis Fact-Find Document that he has a n urgent  need for cover for loss of income \nresulting from accident or sickness , as he is the sole breadwinner in his family .  \n \n2.7 As such, Angela  propose s a Disability Income Insurance policy with benefit at  \n75% of Tommy \u2019s monthly salary, i.e. S$3,000. This will ensure that the family is \nadequately provided for in the event of Tommy \u2019s disability. The deferred period \nwill be six months , as the employer will continue to pay Tommy \u2019s salary up to \nsix months in the event that he is disabled. Mrs Tang , a housewife, is not eligible \nfor Disability Income Insurance. In her case, there are two possible ways to \nprovide her with protection against disability, i.e. through the Total and \nPermanent Disability (TPD) Benefit under the  Life Insurance policies , or thro ugh \na Personal Accident Insurance policy."}


created_at: 2024-03-15 18:52:31
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{"_node_content": "{\"id_\": \"b3b3b0ba-a07c-498b-b178-b31811228a6f\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"7b612c7f-1201-44a1-91b9-0f7efcc5bf17\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"c83ba485ff7d86af7397f8c35e200332cd8a647c0e251d8455768a3239a708ec\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"6d541462-2539-4cfd-8f09-6505cdd654f6\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"f85cc1cbe8850d95d17400b5121c0cb2f78661406ab1fc428bb74d8ebc658990\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1192685, \"end_char_idx\": 1196588, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "through the Total and \nPermanent Disability (TPD) Benefit under the  Life Insurance policies , or thro ugh \na Personal Accident Insurance policy.  \n \n2.8 The amount  of TPD cover which she requires is as follows:  \n \nMaintenance Costs Required On Mrs Tang\u2019s Disablement  \nYearly income needed  \n \n \nNumber of years income \nis needed  \n \nExpected annual rate of \nreturn from funds \n(adjusted for inflation)  \n \nEstimated funds required \nto provide income  \n \nLess  Funds available  \nExisting Insurance  \n \nFunds required  : S$1,500 (current monthly expenditure) x 12  \n = S$18,000  \n \n: 21 years  \n \n \n: 3% (assume that rate of return is 5% , and \ninflation rate  is 2%)  \n \n \n: S$18,000 x 15.8775  (refer to Table A2 at end of \nthis Study Guide ) = S$285,79 5 \n \n: S$0 \n \n \n: S$285,79 5 \n \n2.9 Having determined the maintenance costs for the Tangs, Angela then goes on \nto determine whether the Tangs\u2019 current Medical Expense Insurance policies \nare sufficient to meet their needs.  \n\n15. Case Studies  \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   341  \nB. Medical Costs  \n \n2.10 The policies that may be used to meet medical costs are:  \n\u25aa Medical Expense Insurance ; \n\u25aa Managed Healthcare Insuranc e;  \n\u25aa Long -Term Care Insurance ; \n\u25aa Critical Illness Insurance ;  \n\u25aa Hospital Cash Insurance ; and  \n\u25aa Personal Accident policy with medical expense benefit . \n \n2.11 According to the fact -find results, Tommy  only has Medical Expense Insurance  \ncoverage  under his employer\u2019s insurance . Angela  informed Tommy that Group \nH&S is not portable and that he may lose it later or the coverage may change if \nhe moves into a different job  or retire . They agreed to consider Group H&S as \na temporary  (not lifetime)  benef it instead. She then proceeds to determine the \ncoverage he requires for Medical Expense Insurance policies to meet the Tangs\u2019 \nneeds in the event of hospitalisation.  \n \n2.12 These  were  steps taken  by Angela  to review  and recommend  a suitable  Medical \nExpense Insur ance:  \n\u25aa Confirm his preference of stay in the event of hospitalisation  then  discuss \nthe top 10 condition s of hospitalisation with Tommy to give him an \nindication  of the total hospital bill amount of a medical condition he wish \nto know . \n\u25aa Briefly compute what his Group H&S would have covered him in that \nmedical condition  to provide  a view if it can cover a portion of co-insurance \nand deductible  of a hospitalisation  for as long as the GHS is valid.  \n\u25aa Present  a medical expense insurance plan that will provide cover for Public \nWard A hospitalisation, showing the current  and future annual premium s \nof the proposed p lan.  Tommy  should be informed  that the premium rate is \nnon-guaranteed and in view of medical inflation, it  is likely that premiums \nseen in current premium table will  change and get even more expensive  in \nthe future . This is to give a practical view of the future affordability of \npremium on the chosen plan.  \n \n2.13 Step  1 \nTommy has indicated preference to stay in Ward A of Public Hospital, and \nhaving gone through the top 10 conditions of hospitalisation, Tommy wanted \nto know the average cost of Heart Bypass. Angela has found out from the MOH \nWebsite  that for a heart coronary disease (coronary artery bypass graft) in an A \nward in public hospital, the total bill amount  is in the range of S$36,091 and \nS$42,8761 and average length of stay for this condition is 10 days.  This gave \nTommy an indication of the average total amount required today for a Heart \nBypass surgery.  \n \n \n \n1 Source: MOH Website \u2013 www.moh.gov.sg   \n\n\nHealth Insurance   \n342 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] 2.14 Step 2  \nAngela computes the amount payable under Tommy\u2019s existing Group H&S  \nshould he be hospitalised for Heart Bypass Surgery ."}


created_at: 2024-03-15 18:52:31
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created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"e36aac0c-47d8-4abd-af5f-58315d417762\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"6d541462-2539-4cfd-8f09-6505cdd654f6\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"f85cc1cbe8850d95d17400b5121c0cb2f78661406ab1fc428bb74d8ebc658990\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"83e992bb-ece0-48ae-b0de-2efbdbb7f352\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"11b1253cc9ac3b4727976cec6367bab8bdafd67f7934a70ba06c552c538d3187\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1199419, \"end_char_idx\": 1201870, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "398  $498  \n81 to 83  $1,250  $4,726  $3,826  $2,242  $1,342  $1,275  $375  $1,508  $608  \n84 to 85 $1,430  $5,270  $4,370  $2,561  $1,661  $1,502  $602  $1,775  $875  \n86 to 88  $1,500  $5,890  $4,990  $2,849  $1,949  $1,656  $756  $2,169  $1,269  \n89 to 90  $1,500  $6,455  $5,555  $3,152  $2,252  $1,929  $1,029  $2,491  $1,591  \n91 to 93  $1,530  $6,414  $5,714  $3,487  $2,587  $2,308  $1,408  $2,939  $2,039  \n94 to 95  $1,530  $7,143  $6,243  $3,878  $2,978  $2,573  $1,673  $3,250  $2,350  \n96 to 98  $1,530  $7,641  $6,741  $4,249  $3,349  $2,836  $1,936  $3,560  $2,660  \n99 to 100  $1,530  $8,117  $7,217  $4,609  $3,709  $3,108  $2,208  $3,881  $2,981  \nOver 100  $1,530  $8,289  $7,389  $4,985  $4,085  $3,395  $2,495  $4,221  $3,321  \nSG: Singapore Citizen        PR: Singapore Permanent Resident  \n^ The last entry age is 75, based on the insured\u2019s age next birthday.  \n~ Your MediShield Life premiums may differ depending on your premium subsidies, premium rebates and whether you need to \npay for the Additional Premiums. The net MediShield Life premium payable after accounting for these is fully payable by \nMediSave.  \n# This refers to the cash outlay if you ar e paying by MediSave (assuming you have sufficient monies in your MediSave account). \nIf you are not paying by MediSave, your total cash outlay will be equal to MediShield Life Premiums + Premiums for Additional  \nprivate insurance coverage. For example, for an insured aged 30 (at next birthday) buying Enhanced IncomeShield Preferred \nplan, the total premium = $195 +$255 = $450  \n \nSource: https://www.income.com.sg/health -insurance/enhanced -incomeshield/citizen -pr-premium -table  \n \n \n \n \n\n\nHealth Insurance   \n344 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] 2.18 The Tangs  also require Critical Illness Insurance cover , as the medical expenses \nincurred in the event of a critical illness may not be fully covered by Tommy\u2019s \npolicies. They will also need Long -Term Care Insurance cover (under \nElderShield) if they can afford the premiu m, as the cover is not insured  by his \ntwo existing policies.   \n \n2.19 As the Tangs already have policies for protection against premature death, \nAngela  propose d a 100% Acceleration Benefit type of Critical Illness Insurance \npolicy packaged with a Whole Life Insurance policy , so that they can have the \ncover for life. This policy will also take care of Mrs Tang\u2019s TPD needs."}


created_at: 2024-03-15 18:52:31
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To \nsummarise, the package for Mr and Mrs Tang is shown in Table 1 5.1 below : \n \nTable 1 5.1: Summary Of Insurance Package For Mr & Mrs Tang  \n  \n Mr Tang  (Tommy ) \nType Of Plan & Sum Assured  Monthly  \nPremium  \nEnhance Income Shield Advantage Plan  $438/year and \nFully funded by \nMedisave  \n100% Acceleration Benefit Type of Critical Illness \nInsurance policy packaged with Whole Life Insurance \npolicy - S$200,000  S$480.80  \nDisability Income Insurance of S$3,000 with six months \u2019 \ndeferred period up to the age of 65 years  S$38.45  \nTotal Monthly Premium  with cash   S$519.25  \n  \n Mrs Tang  \nType Of Plan & Sum Assured  Monthly  \nPremium  \nEnhance Income Shield Advantage Plan  $438/year and \nFully funded by \nMedisave  \n100% Acceleration Benefit Type of Critical Illness \nInsurance policy packaged with Whole Life Insurance \npolicy - S$100,000  S$160.00  \nPersonal Accident (PA) Insurance policy - S$50,000  S$5.00  \nTotal Monthly Premium with cash  S$165.00  \n \nTwo Children  \nType Of Plan & Sum Assured  Monthly \nPremium  \nEnhance Income Shield Advantage Plan  $199/year  per \nchild  and Fully \nfunded by \nMedisave  \n \n\n15. Case Studies  \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   345  \n2.20 The total premium payable with cash works out to be S$684.25 (i.e. S$519.25  + \nS$165.00) and is within Tommy \u2019s budget. As there is no excess premium for the \nLong -Term Care Insurance cover, Angela  has decided not to propose it at this \nmoment.  \n \n2.21 Having decided on the types of policies that are suitable to Tommy , Angela  next \nproceeds to complete the \u201cRepresentative Recommendations\u201d section of the \nFact-Find Document .  \n \nREPRESENTATIVE\u2019S RECOMMEND ATIONS \nPlease  note that the  information  that you provide will be the basis  on which advice \nwill be given. Plea se also note that a ny inaccurate or incomplete information \nprovided may affect the suitability of the rec ommen dations presented to you. \nClient\u2019s Objective(s) \nClient\u2019s concern, investment \nobjectives, shortfall  amount  ($), \ntime horizon,  investment risk \nprofile, where applicable He likes to have a Critical Illness Insurance \npolicy of S$200,000 for himself and \nS$100,000 for his wife.  \nPlan(s) Recommendation \nFull name  of plan and rider, \nduration,  sum assured ($), \npremium ($)/frequency, fund \nnam e(s), investment amount  and \nrespective risk classification,  \nwhere applicable \n \n \nReason(s) for Recommendations \n\u25aa State  how the plan meets the \nClient\u2019s need(s). \n\u25aa State  and explain  features and \nbenefits relating  to the product  \nsold. \n \nRisk / Limitation(s) of Plan \n\u25aa State  any possible risks \nrelating  to the product  sold. \n\u25aa State  possible disadvantage(s) \nbased on circumstances of the \nClient. \u25aa Medical Expense  Insurance  \nProposed Enhanced IncomeShield \nAdvantage Plan for the entire family \nwhich are fully payable with Medisave. \nThis plan provide s cover for up to \nPublic Hospital Ward A in the event of \nhospitalisation. There is co -insurance \nand deductible on this po licy to make \nthe premium affordable.  \n \n\u25aa Critical  Illness Insurance Policy  \nTommy  \nProposed a 100% Acceleration Benefit \nType of Critical Illness Insurance cover \npackaged with a Whole Life Insurance \npolicy \u2013 sum assured of S$200,000 as \nspecified  by Tommy.  \nThis policy is suitable for Tommy\u2019s \nbudget. It will provide him with death, \ndisability and critical illness coverage. \nIt serves to supplement the Whole Life \nInsurance policy in providing for the \nfamily, in the event of his early \ndemise.  \n\nHealth Insurance   \n346 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] REPRESENTATIVE\u2019S RECOMMEND ATIONS \nReason(s) for Deviation(s) \nReasons for any deviation  from \nclient\u2019s profile, objectives and/or  \nrepresentati ve\u2019s recommendatio ns \n(where applicable) \n \n\u25aa Premiums are more  than  Client\u2019s \nbudget \n\u25aa Funds  recommended (e.g."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"a67aab65-7f12-4ed9-ba92-e10836e9f00d\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"83e992bb-ece0-48ae-b0de-2efbdbb7f352\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"11b1253cc9ac3b4727976cec6367bab8bdafd67f7934a70ba06c552c538d3187\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"5fbb3629-3a13-44ef-9525-307806a4a51c\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"6863bf65eb2b0aa48cd407152fcbc470a4cf64fdf1b1963c25fb8f85107da7ca\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1205833, \"end_char_idx\": 1210241, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "ILP \nsub-fund,  par fund)  are of a \nhigher  risk than client\u2019s risk \npreference \n \nClient\u2019s choice of product/ funds \ndiffers from representati ve\u2019s \nrecommended plan/funds  Besides, it provides life cover for him. In \nother words, it ensures that he is covered \nin his old age.  \n \n     Mrs Tang  \nProposed a 100% Acceleration Benefit \nType of Critical Illness Insurance cover \npackaged with a Whole Life Insurance \npolicy \u2013 sum assured of S$100,000 as \nspecified by Mr Tang.  \n \nThis policy will give Mrs Tang the \nadditional TPD cover that she needs. It \nwill also provide her with life cover, thus \nensuring that she will be covered in her \nold age when her need is the greatest.  \n \u25aa Disability Expense Protection  \nTommy  \nPropose d a Disability Income Insurance \npolicy of S$3,000 (75% of salary) with a six \nmonths\u2019 deferred period up to the age of \n65 years  \n  \nThis policy is considered suitable for \nTommy, because it will provide his family \nwith a monthly income in the event that \nhe is t otally or partially disabled.  \n \nMrs Tang  \nHas not proposed Disability Income \nInsurance policy, as she is not working \nand, hence, not eligible.  \n \nHas proposed a PA Insurance policy of \nS$50,000 to make up the shortfall for TPD \ncover after she takes up the S$100,000 \nCritical Illness Insurance policy. This \npolicy is recommended, as it will provide \nher with cover for death, TPD and \nmedical expenses at a  very low cost. This \nmeans to say that this policy may also \nhelp to take care of the shortfall in \nMedical Expense Insurance cover.   \n \n \n \n  \n2.22 Having  finalised  the insurance package to be recommended to the client, \nAngela  then arranges to meet up with his client , and present s the package to \nhim.  \n \n2.23 Note that it is worthwhile to repeat that the case study illustrates a possible set \nof recommendations among others. As a result, certain plausible suggestions \nhave not been discussed , such as Outpatient cover , or extending the client\u2019s \ncoverage to include accidental loss of limbs , or medical expenses arising from \naccidents.  \n\n15. Case Studies  \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   347  \n2.24 As an insurance  representative, you should also be thoroughly aware of \u201cYour \nGuide To Health Insurance\u201d, as well as the \u201cEvaluating My Health Insurance \nCoverage\u201d sheet issued by LIA in conjunction with the MoneySENSE national \nfinancial education programme. You can view an d download them from the LIA \nWebsite at: www.lia.org.sg   \n \n2.25 You should bring these documents to the attention of your prospective client \nand discuss them with him.  \n \n \n3. CASE STUDY 2 \u2013 GROUP HEALTH INSURANCE  \n \n3.1 We will now look at another case study focusing on a prospective client\u2019s need \nfor Group Health Insurance. Apex Services Company  Private Limited  has \napproached you for quotations on Group Term Life and Health Insurance \npolicies  to cover  its employees as part of its employee benefit package. As the \nCompany wants the policies to be tailored to their needs, you will have to get \nthe Company to complete the Group  Insurance  Fact-Finding (GIFF) Form.  Note \nthat the format of the Form may vary for dif ferent insurers.  \n \n3.2 Before proceeding further, you need to find out whether the Company (i.e. the \nprospective client) meets your  insurer \u2019s underwriting requirements in terms of \ngroup size and group stability, etc.  \n \n3.3 Once you have established that the prospective client is eligible for the group \ncoverage, you may then proceed to explain to your prospective client the \nfollowing:  \n\u25aa the types of  policies available and the benefits offered;  \n\u25aa the advantages of joining the Portable Medical Benefits Scheme or \nTransferable  Medical Insurance Scheme , as well as how these schemes \nwork; and  \n\u25aa the differences between compulsory and voluntary participation , as well as \ntheir advantages.  \n \n3.4 In addition, you will need to help your prospective client to determine the \namount of sum assured for each category of employee s. If your prospective \nclient has an existing plan , they  may wish to stick to the same amount of benefit , \nor make some minor adjustments to it. For a prospective client buying the \nGroup Term Life I nsurance for the first time, it is your responsibility to help the  \nprospective  client  to determine the sum assured."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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There are two common \nmethods which can be used, i.e.:  \n\u25aa according to rank; or  \n\u25aa number of times of the employee\u2019s basic salary.  \n \n3.5 The first method is easier to manage , as it goes according to the rank of the \nemployee. However, it does not take into account the length of service of the \nstaff concerned .  \n \n \n\n\nHealth Insurance   \n348 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] 3.6 For example, a new staff joining as an executive will get the same amount of \nbenefit , as one who has been with the company for two years , although his pay \nmay be lower than the more experienced staff. The second method, on the other \nhand, takes into account the length of service , as the salary of a  more \nexperienced  staff is likely to be hi gher than that of a new staff . Hence , this \nmethod may be more equitable as compared to the former method. You may \nalso ask for the client\u2019s budget , as this will also help to determine the sum \nassured to be  covered .  \n \n3.7 For instance, in this case, your prospe ctive client has told you that the Company \nprefers to go by the ranking method. Based on the budget given, you can then \ndesign a plan , such as the one below:  \n \nCategory  Sum Assured Per Person  \nTerm Assurance  Living Assurance  \nSenior Management  S$200,000  S$100,000  \nManagers/Executives  S$100,000  S$  50,000  \nAssistant Executives  S$  50,000  S$  25,000  \nClerks  S$  20,000  S$  10,000  \n \n3.8 By attaching the 50% Acceleration Critical Illness Insurance cover as a rider to \nthe Group Term Life Insurance policy, it will help your prospective client to \nprovide the benefit at an affordable amount (if there is a constraint in the \namount that the Company can spend).  \n \n3.9 For the Group Hospital & Surgical Insurance  policy, you can also plan according \nto the ranking method as follows:  \n \nCategory  Plan \nSenior Management  Plan 1 \u2013 Room & Board SS$250 \nManagers/Executives  Plan 2 \u2013 Room & Board SS$150 \nOthers  Plan 3 \u2013 Room & Board SS$100 \n \n3.10 Next, obtain the Company\u2019s past three  years  of claims history. The claims \nhistory is very important , as this will determine the premium to be charged.  \n \n3.11 Note also that your  prospective  client must duly complete and sign the GIFF \nForm. It is important that you sign th is Form too . The insurer is not allowed to \ngive any quotation , unless this Form has been duly completed and signed.  \n \n3.12 Having completed the GIFF Form, submit it to the insurer to work out a \nquotation for your presentation to the prospective client.  \n \n3.13 The sales quotation will include the coverage, underwriting guidelines, \npremium chargeable, exclusions and waiting periods, etc. You have to go \nthrough the quotation and high light the important points that your prospective \n\n15. Case Studies  \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   349  \nclient needs to be aware of, e.g. exclusions , limitations, restricted provisions \nand conditions , as well as no free -look period applicable to any Group Insurance \npolicy.  \n \n3.14 Once your prospective client accepts the quotation, you need to assist in the \ncompletion of the  proposal and health declaration forms , if necessary , and \nsubmit them together with the  premium  payment to the insurer. You need to \narrange for the medical examination , if any of the employees \u2019 coverage  falls \noutside the free cover limit . \n \n \n\nHealth Insurance   \n350 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4] APPENDIX  15A \n \nABC INSURANCE COMPANY (SINGAPORE) LIMITED  \n \nGroup Hospital & Surgical Insurance  \n \nSchedule Of Benefits  \n(Maximum Per Any One Disability)  Plan A  \n(S$) Plan B  \n(S$) Plan C  \n(S$) \nDaily Room & Board (Max. 120 days)  360 280 220 \nIntensive Care Unit (Max."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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created_at: 2024-03-15 18:52:31
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Case Studies  \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   353  \n \nBenefits  Enhanced IncomeShield  \n(Payout includes MediShield Life \npayout)  \nPreferred  Advantage  Basic  \nSpecial benefits  Limits on special benefits  \nProsthesis benefit (each \npolicy year)  As charged, up  to \n$10,000  As charged, up  to $6,000  \n Emergency overseas \ntreatment  As charged but \nlimited to costs of \nSingapore private \nhospitals  As charged but \nlimited to costs of \nward class A in \nSingapore \nrestructured \nhospitals  As charged but \nlimited to costs \nof ward class B1 \nin Singapore \nrestructured \nhospitals  \nWaiver  of pro-ration  factor  for \noutpatient kidney dialysis   \nDoes not apply  Waive  pro-ration  factor  for applicable \ntreatment provided by our preferred \npartner  \nFinal  expenses  benefit  \n(waiver  of co -insurance and \ndeductible)  $5,000  $3,000  \nPro-ration factor  SG/PR/FR  \nInpatient  \n\u2212 Restructured hospital     \n- Ward class C, B2 or B2+   Does not apply  Does not apply  \n- Ward class B1   Does not apply  Does not apply  \n- Ward class A   Does not apply  85% \n\u2212 Private hospital or private \nmedical institution or \nemergency overseas \ntreatment  Does not apply  65% 50% \n\u2212 Community hospital     \n- Ward class C, B2 or B2+   Does not apply  Does not apply  \n- Ward class B1   Does not apply  Does not apply  \n- Ward class A   Does not apply  85% \n  Day surgery or short -stay ward  \n\u2212 Restructured hospital \nsubsidised  \n \n\u2212 Restructured hospital non -\nsubsidised  \n \n\u2212  Private hospital or private \nmedical institution or \nemergency overseas \ntreatment  \n \n \n \n \n \n  \n \n \n \n \n \nDoes not apply  Does  not apply  \n \n \nDoes  not apply  \n \n \n \n65% Does  not apply  \n \n \nDoes  not apply  \n \n \n \n50%"}


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{"_node_content": "{\"id_\": \"8e19217e-812e-4c06-ac89-e97ef3d02366\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"7f81c9e5-898e-4639-a74b-d4a314d143bc\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"e4e03879d4c70cc659eb144013c20a3ead69efa43c6e04e7156835a18a3f3bf5\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"60380a19-21e0-4b17-b841-5199ed86a571\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"84475e769595b37b288ab736bb0d0c804cfa89ff6663d9ac06e2341761a1b036\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1220139, \"end_char_idx\": 1222730, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "Health Insurance   \n354 Copyright reserved by the Singapore College of Insurance Limited [Version 1. 4]  \nBenefits  Enhanced IncomeShield  \n(Payout includes MediShield Life \npayout)  \nPreferred  Advantage  Basic  \n  Outpatient hospital treatment  \n\u2212 Restructured hospital \nsubsidised  \n\u2212 Restructured  hospital  non-\nsubsidised  \n\u2013 Private hospital or private \nmedical institution   \n \n \nDoes not apply  Does  not apply  \n \nDoes  not apply  \n \n65% Does  not apply  \n \nDoes  not apply  \n \n50% \nSG: Singapore Citizen  | PR: Singapore Permanent Resident  | FR: Foreigner  \n \n \nBenefits  Preferred  Advantage  Basic  \nDeductible for each policy year for an insured aged 80 years or below next birthday  \nInpatient  \n\u2013 Restructured hospital     \n- Ward class C  $1,500  $1,500  $1,500  \n- Ward class B2 or B2+  $2,000  $2,000  $2,000  \n- Ward class B1  $2,500  $2,500  $2,500  \n- Ward class A  $3,500  $3,500  $2,500  \n\u2013 Private hospital or private \nmedical institution or \nemergency overseas \ntreatment   \n$3,500   \n$3,500   \n$2,500  \n\u2013 Community hospital     \n- Ward class C  $1,500  $1,500  $1,500  \n- Ward class B2 or B2+  $2,000  $2,000  $2,000  \n- Ward class B1  $2,500  $2,500  $2,500  \n- Ward class A  $3,500  $3,500  $2,500  \nDay surgery or short -stay ward  \n\u2212 Subsidised  $2,000  $2,000  $2,000  \n\u2212 Non-subsidised  $3,500  $3,500  $2,500  \nDeductible for each policy year for an insured aged over 80 years at next birthday  \nInpatient  \n\u2013 Restructured hospital     \n- Ward class C  $2,250  $2,250  $2,250  \n- Ward class B2 or B2+  $3,000  $3,000  $3,000  \n- Ward class B1  $3,750  $3,750  $3,750  \n- Ward class A  $5,250  $5,250  $3,750  \n\u2013 Private hospital or private \nmedical institution or \nemergency overseas \ntreatment   \n$5,250   \n$5,250   \n$3,750  \n\u2013 Community hospital     \n- Ward class C  $2,250  $2,250  $2,250  \n- Ward class B2 or B2+  $3,000  $3,000  $3,000  \n- Ward class B1  $3,750  $3,750  $3,750  \n\n\n15. Case Studies  \nCopyright reserved by the Singapore College of Insurance Limited [Version 1. 4]                                   355  \nBenefits  Preferred  Advantage  Basic  \n- Ward class A  $5,250  $5,250  $3,750  \nDay surgery or short -stay ward  \n\u2212 Subsidised  $3,000  $3,000  $3,000  \n\u2212 Non-subsidised  $5,250  $5,250  $3,750  \n    \n    \nCo-insurance  10% \nLimit in each policy year  $1,500,000  $500,000  $250,000  \nLimit in each lifetime  Unlimited  \nLast entry age (age next \nbirthday)  75 \nMaximum coverage age  Lifetime  \n \nSource:  https://www.income.com.sg/kcassets/78476c34 -20c6 -4a95 -a9e5 -\n6a5a14dc6ab3/Enhanced%20IncomeShield%20Brochure_Website.pdf"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"60380a19-21e0-4b17-b841-5199ed86a571\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"8e19217e-812e-4c06-ac89-e97ef3d02366\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"9073b15ae301efa4225593f1c084a7c21fbe68f46a39f0c4dbb850ad3669d594\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"72cf6e0a-437f-4ba4-ba83-d84f0e43ace1\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"0d152f733d89d8fa8c83ab16dfed66406aaeb580188522de549b5f974d2151d0\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1222735, \"end_char_idx\": 1225467, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "55\nCASE STUDIES\nIMPORTANT CONCEPTS DEFINITIONS/EXPLANATIONS\nCase Study 1\nIndividual Health \nInsurance\u2022 Information collected from client.\n\u2022 Complete fact find form.\n\u2022 What policy is suitable for maintenance cost?\n1. Review and recommend.\n\u2022 What policy is suitable for medical costs?\n1. Review and recommend.\n\u2022 Representative\u2019s Recommendations\n\u2022 Disclosures and documentations.\nCase Study 2\nGroup Health Insurance\u2022 Assess if the prospective client meets the insurer\u2019s underwriting requirements \nin terms of group size and group stability, etc.\n\u2022 Explain to the prospective client the following:\n1. The types of policies available and the benefits offered;\n2. The advantages of joining the Portable Medical Benefits Scheme or \nTransferable Medical Insurance Scheme, as well as how these schemes \nwork; and\n3. The differences between compulsory and voluntary participation, as well as \ntheir advantages.\n\u2022 Determine the amount of sum assured for each category of employees.\n\u2022 Complete GIFF form.\n\u2022 Sales quotations and documentations.CHAPTER\n15\nBelow are just some of the pointers to take for Individual Health Insurance and Group Health Insurance. This chapter \nrequires candidates to apply the principles learnt from the previous chapters to carry out a proper needs-based sales \nadvisory process.\n\n\nTables  \n356 Copyright reserved by the Singapore College of Insurance Limited  [V1.4]  \n \n \n  \n \n   \n \n \n \n \n \nTable A 1 FUTURE VALUE OF ANNUITY FACTORS  \n \n \nTable A 2 PRESENT VALUE OF AN ANNUITY DUE OF ONE DOLLAR  \n \n \n    \n \n       \n \n  \n \n                                                                                  \n  \n \n  \n\n\n                Tables   \nCopyright reserved by the Singapore College of Insurance Limited  [Version 1.4] 357 Time Value Of Money Tables  \n \nTABLE A 1 \nFUTURE VALUE OF ANNUITY FACTORS  \nFVA Factor = [(1+i)n\u22121] / i where i = rate and n = periods  \ni = 0.5%  1% 1.5%  2% 2.5%  3% 3.5%  4% 4.5%  5% \nn=1 1.0000  1.0000  1.0000  1.0000  1.0000  1.0000  1.0000  1.0000  1.0000  1.0000  \n2 2.0050  2.0100  2.0150  2.0200  2.0250  2.0300  2.0350  2.0400  2.0450  2.0500  \n3 3.0150  3.0301  3.0452  3.0604  3.0756  3.0909  3.1062  3.1216  3.1370  3.1525  \n4 4.0301  4.0604  4.0909  4.1216  4.1525  4.1836  4.2149  4.2465  4.2782  4.3101  \n5 5.0503  5.1010  5.1523  5.2040  5.2563  5.3091  5.3625  5.4163  5.4707  5.5256  \n            \n6 6.0755  6.1520  6.2296  6.3081  6.3877  6.4684  6.5502  6.6330  6.7169  6.8019  \n7 7.1059  7.2135  7.3230  7.4343  7.5474  7.6625  7.7794  7.8983  8.0192  8.1420  \n8 8.1414  8.2857  8.4328  8.5830  8.7361  8.8923  9.0517  9.2142  9.3800  9.5491  \n9 9.1821  9.3685  9.5593  9.7546  9.9545  10.1591  10.3685  10.5828  10.8021  11.0266  \n10 10.2280  10.4622  10.7027  10."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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created_at: 2024-03-15 18:52:31
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created_at: 2024-03-15 18:52:31
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created_at: 2024-03-15 18:52:31
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created_at: 2024-03-15 18:52:31
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created_at: 2024-03-15 18:52:31
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created_at: 2024-03-15 18:52:31
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created_at: 2024-03-15 18:52:31
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created_at: 2024-03-15 18:52:31
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created_at: 2024-03-15 18:52:31
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I am your Study Bear \ud83d\udc3b.\nLet's study together and pass the exam without worries.\nAs the saying goes:\n\nAny day spent with you is my favorite day. So, today is my new favorite day.\n\nLet me know what should we study today \ud83d\ude09.\n\nThe content of the textbook Health Insurance 7th Edition are as follows,\n\nChapter 1: Overview Of Healthcare Environment In Singapore\nChapter 2: Medical Expense Insurance\nChapter 3: Group Medical Expense Insurance\nChapter 4: Disability Income Insurance\nEtc ...\nFor examples, you could ask me\n\nHow many modules I have to take to become an insurance agent in Singapore?\nHow many chapters are there in textbook 'Health Insurance 7th Edition'?\nCan you list all the chapters by name and its chapter number for me?\nBased on the textbook, please extract the important key concepts from chapter 1 - overview of healthcare environment in singapore, into 10 bullet points\nPlease ask me a question so that I can tell if I have enough understanding about Chapter 2\n\n\nUser: \nI want to learn about insurance\n\n\nAssistant: \nSure, I can provide you with information on various types of insurance. \nIs there a specific type of insurance you are interested in learning about, such as health insurance, life insurance, car insurance, or any other type? \nLet me know so I can provide you with relevant details.\n\n\nUser: \nI want to learn about health insurance, specifically from the textbook 'Health Insurance'\n\n\nAssistant: \nThe textbook \"Health Insurance 7th Edition\" has undergone several versions, with the latest being Version 1.4 released on 1 October 2022. \nThe content of Version 1.4 includes updates and amendments to different sections and chapters related to health insurance products, disclosure requirements, case studies, and healthcare financing schemes. \nThe updates aim to provide accurate and current information to ensure the study text remains relevant and up-to-date with industry practices and regulations. \nIf you would like to learn more about a specific chapter or topic within the textbook, please let me know!\n\n\nUser: \nYup, i want to understand more about the content from the textbook, how many chapters are there\n\n\nAssistant: \nThe textbook \"Health Insurance 7th Edition\" consists of 15 chapters. \nEach chapter covers different aspects of health insurance, including medical expense insurance, group medical expense insurance, disability income insurance, long-term care insurance, critical illness insurance, managed healthcare, healthcare financing, policy provisions, pricing, underwriting, disclosure requirements, financial needs analysis, and case studies. \nIf you would like to explore a specific chapter or have any questions related to the content, feel free to let me know!\n\n\nUser: \nCan you list all the chapters by name and its chapter number for me?"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: cc8fe4f2-c387-4046-915e-c017d748afce
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{"_node_content": "{\"id_\": \"cc8fe4f2-c387-4046-915e-c017d748afce\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"0b6ca161-324a-4f47-b134-23e2ffae6362\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"9b93ca7b1ba20eb351545ce855e46bfed98b1246a53f0786e318bd5e7f8923e3\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"fb6e5530-e804-40a9-bd38-b61854c3661f\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"757651f5dd4bf030e4f91c48b0556cc5279233490de862e41e800aca30f671d2\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1257847, \"end_char_idx\": 1262634, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "User: \nCan you list all the chapters by name and its chapter number for me?\n\n\nAssistant:\nThe content of the textbook \"Health Insurance 7th Edition\" consists of the following chapters:\nChapter 1: Overview Of Healthcare Environment In Singapore\nChapter 2: Medical Expense Insurance\nChapter 3: Group Medical Expense Insurance\nChapter 4: Disability Income Insurance\nChapter 5: Long-Term Care Insurance\nChapter 6: Critical Illness Insurance\nChapter 7: Other Types Of Health Insurance\nChapter 8: Managed Healthcare\nChapter 9: Part I Healthcare Financing\nChapter 9: Part II Healthcare Financing\nChapter 10: Common Policy Provisions\nChapter 11: Health Insurance Pricing\nChapter 12: Health Insurance Underwriting\nChapter 13: Notice No: MAS 120 Disclosure And Advisory Process - Requirements For Accident And Health Insurance Products\nChapter 14: Financial Needs Analysis\nChapter 15: Case Studies\nThese are the 15 chapters included in the \"Health Insurance 7th Edition\" textbook.\n\n\nUser:\nBravo, based on the textbook, let's start with chapter 1, overview of the healthcare environment, what are the important key points about this chapter that I should know? can you list them in 10 bullet points?\n\n\nAssistant:\nThe question extracted is not related to the key points of Chapter 1. Let me try to extract the key points for you.\n\n\nUser:\nYup yup, please extract the key points for me\n\n\nAssistant:\nThe key points from Chapter 1: Overview Of Healthcare Environment In Singapore are:\n- Singapore's healthcare environment is guided by a philosophy of individual responsibility and accessible healthcare for all.\n- The philosophy emphasizes promoting a healthy population through preventive care.\n- Personal responsibility for healthy living is encouraged through the \"3M\" system.\n- Healthcare costs are controlled through subsidies and managing the supply of services.\n- The Healthcare 2020 Masterplan aims to enhance accessibility, quality of care, and affordability of healthcare services.\n- Primary healthcare services in Singapore are provided by general practitioners.\n- Hospital services are offered by various public hospitals in Singapore.\n- Intermediate and Long-Term Care services are available for patients requiring ongoing care outside of hospitals.\n- The healthcare system in Singapore focuses on preventive care, accessibility, and quality of services.\n- The government plays a significant role in ensuring healthcare affordability and accessibility for all Singaporeans.\n\n\nUser:\nWoah, what is the overview of the healthcare 2020 masterplan\n\n\nAssistant:\nThe Healthcare 2020 Masterplan in Singapore aims to enhance the accessibility, affordability, and quality of healthcare services for Singaporeans. It focuses on several key areas to achieve its objectives:\n- Enhancing Access: The masterplan aims to improve access to healthcare services for all Singaporeans, ensuring that they can receive timely and appropriate care when needed.\n- Improving Affordability: One of the key goals is to make healthcare services more affordable for Singaporeans, reducing the financial burden on individuals and families seeking medical treatment.\n- Enhancing Quality: The masterplan focuses on raising the quality of healthcare services provided in Singapore, ensuring that patients receive safe, effective, and patient-centered care.\n- Promoting Innovation: Embracing innovation in healthcare is a crucial aspect of the masterplan, encouraging the adoption of new technologies and practices to improve healthcare outcomes.\n- Empowering Patients: The masterplan emphasizes empowering patients to take an active role in managing their health, promoting health literacy and patient engagement.\n- Building a Sustainable Healthcare System: Sustainability is a key consideration, ensuring that the healthcare system can meet the evolving needs of the population while maintaining financial viability.\n- Collaboration and Integration: The masterplan promotes collaboration among healthcare providers and stakeholders, as well as integration across different levels of care to ensure seamless and coordinated services.\n- Focus on Prevention and Wellness: Preventive healthcare and wellness initiatives are prioritized to promote healthy living and reduce the incidence of chronic diseases.\n- Enhancing Healthcare Infrastructure: Investments in healthcare infrastructure and facilities are essential to support the delivery of quality healthcare services across Singapore.\n- Patient-Centered Care: The masterplan emphasizes the importance of patient-centered care, focusing on meeting the individual needs and preferences of patients to enhance their overall healthcare experience.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 2 - Medical Expense Insurance, into 10 bullet points"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: fb6e5530-e804-40a9-bd38-b61854c3661f
encoding: FLOAT32
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{"_node_content": "{\"id_\": \"fb6e5530-e804-40a9-bd38-b61854c3661f\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"cc8fe4f2-c387-4046-915e-c017d748afce\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"1997b0eb7dd23653acb5340ccb89ccbb857837f6627478dd4d7559809c31e64f\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"28930c42-2d7e-41b8-b7c3-1e07218717d4\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"6c4e633c7a69add86380d6ffb4ebb4423c75e22e5aabed7ba833fd3a6a1153dc\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1262507, \"end_char_idx\": 1266490, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "User:\nPlease summarise and give me more detailed information about Chapter 2 - Medical Expense Insurance, into 10 bullet points\n\n\nAssistant:\nChapter 2 - Medical Expense Insurance covers various aspects related to medical expenses and insurance coverage. Here are 10 key points from this chapter:\n- Medical Expense Insurance provides coverage for a wide range of medical expenses incurred by individuals.\n- Inpatient expenses covered under this insurance may include daily room and board charges, surgeon's fees, and other related hospital costs.\n- Outpatient expenses, such as catastrophic outpatient charges, may also be included in the coverage.\n- Medical Expense Insurance policies may offer benefits like coverage for specific medical procedures or treatments.\n- Some policies may provide reimbursement for expenses related to miscarriage or other medical situations.\n- The coverage and benefits of Medical Expense Insurance can vary based on the policy terms and conditions.\n- Policyholders need to understand the scope of coverage, exclusions, and limitations of their Medical Expense Insurance policy.\n- Insurers may have specific requirements for claim submissions and documentation to process medical expense reimbursements.\n- Individuals should review and compare different Medical Expense Insurance policies to choose the one that best suits their healthcare needs.\n- It is essential for policyholders to stay informed about any updates or changes in their Medical Expense Insurance coverage to ensure adequate protection for medical expenses.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 3 - Group Medical Expense Insurance, into 10 bullet points\n\n\nAssistant:\nChapter 3: Group Medical Expense Insurance provides an in-depth look into the specifics of insurance policies designed for groups, primarily focusing on those provided by employers to their employees and their families. Here are 10 key points from the chapter:\n- Distinction Between Individual and Group Insurance: The chapter outlines the differences between individual and group medical expense insurance, emphasizing the context in which each is used.\n- Employer-Purchased Policies: It highlights that group medical expense insurance policies are often purchased by employers to offer benefits to their employees and, in some cases, the employees' immediate family members.\n- Structure of Group Insurance: The text discusses the structure of group insurance, including compulsory (non-contributory) and voluntary (contributory) plans, and the advantages of each.\n- Eligibility and Contract Specifics: There's a comparison between individual and group insurance in terms of eligibility for coverage, specifics of the contract, and choice of plan.\n- Portable Medical Benefits Scheme (PMBS): The chapter introduces PMBS, explaining how it works, its benefits, and the eligibility criteria for employees.\n- Transferable Medical Insurance Scheme (TMIS): Similarly, TMIS is discussed, providing insights into its operation, benefits, and who qualifies for it.\n- Template for Transferable Medical Insurance Certification: An appendix offers a template for a Transferable Medical Insurance Certification, useful for practical application.\n- Comprehensive Understanding of Group Insurance: The learning outcomes aim to equip readers with a thorough understanding of group insurance cover criteria and the characteristics of group insurance policies.\n- Requirements for Foreign Workers' Medical Insurance: The chapter also touches on the specific requirements for medical insurance for foreign workers, an important aspect for employers in Singapore.\n- Differences Between Compulsory and Voluntary Plans: Lastly, it delves into the differences between compulsory and voluntary plans, providing clarity on these two types of group medical expense insurance.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 2 - Medical Expense Insurance, into 10 bullet points"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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Here are 10 bullet points summarizing the chapter:\n- Introduction to Rising Medical Costs: Highlights the concern of escalating medical expenses in Singapore, especially with an aging population, and the limitations of Medisave and MediShield Life in covering prolonged or major treatments.\n- Need for Additional Financial Resources: Emphasizes the necessity for extra financial means to cover serious illnesses requiring expensive treatments beyond what national health schemes cover.\n- Definition and Coverage: Describes Medical Expense Insurance as providing benefits for inpatient and some outpatient expenses, covering common medical expenses, complex surgeries, and costly treatments like dialysis and chemotherapy.\n- Categories of Health Insurance: Outlines three broad categories, including reimbursement for medical treatment costs, periodic income upon disability or hospitalization, and a fixed cash amount for major illnesses.\n- Key Features of Policies: Discusses options for stand-alone policies or riders, choice of plans, family coverage, and the reimbursement basis of these policies.\n- Expense Participation Mechanisms: Explains deductibles, co-insurance, and pro-ration factors as methods to manage insurance costs and promote responsible medical service usage.\n- Benefits Offered: Lists various benefits under Medical Expense Insurance policies, such as specific disease insurance, miscarriage benefit, and emergency medical evacuation benefit.\n- Limits on Covered Expenses: Emphasizes the importance of understanding policy limits, including \"as charged\" benefits versus sub-limits, and the implications for reimbursement.\n- Communication of Coverage Terms: Highlights the necessity for clear communication about what is covered under the policy and the potential for not receiving full reimbursement for incurred medical expenses.\n- Comprehensive Overview: Provides a thorough understanding of Medical Expense Insurance, its purpose, the types of expenses covered, and the significance of knowing the terms and limits of coverage.\nThis chapter serves as a crucial guide for understanding Medical Expense Insurance in the context of Singapore's healthcare environment and the need for additional coverage beyond national health schemes.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 4: Disability Income Insurance, into 10 bullet points\n\n\nAssistant:\nHere are 10 detailed bullet points about Chapter 4: Disability Income Insurance from the textbook:\n- Introduction to Disability Income Insurance: This insurance is designed as an income-protection product that replaces a portion of the insured's income lost due to incapacity from an accident or illness, under certain conditions.\n- Differentiation from Total and Permanent Disability Benefit: The chapter clarifies that Disability Income Insurance focuses on income replacement for those unable to work due to temporary or long-term disabilities, unlike Total and Permanent Disability Benefit, which accelerates the death benefit under a Life Insurance policy for those with total and permanent disabilities.\n- Computation of Benefits: Benefits are typically capped at 75% of the insured's average income over the past 12 months, subject to certain ceilings, to prevent over-insurance and motivate return to work.\n- Types of Benefits: It includes total disability benefit and partial disability benefit, catering to different levels of incapacity.\n- Policy Features: The chapter discusses several policy features such as rehabilitation expense benefit, escalation benefit, waiver of premium benefit, and death benefit.\n- Underwriting Considerations: Factors like occupation, benefit amount, benefit period, and deferred/elimination period are crucial in underwriting Disability Income Insurance.\n- Termination of Benefits: The chapter outlines the conditions under which benefits cease to be payable, including recovery from disability or reaching the end of the benefit period.\n- Common Exclusions: It lists common exclusions in Disability Income Insurance policies, such as self-inflicted injuries and pre-existing conditions.\n- Group Disability Income Insurance: This section covers the coverage and features of Group Disability Income Insurance, highlighting its role in providing income protection to employees.\n- Underwriting Principles and Claims Procedures: The chapter concludes with a discussion on general underwriting principles and claims procedures for both individual and group Disability Income Insurance policies, emphasizing the importance of accurate information and timely claims processing.\nThis chapter provides a comprehensive overview of Disability Income Insurance, detailing its purpose, benefits, policy features, underwriting considerations, and claims procedures.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 5: Long-Term Care Insurance, into 10 bullet points"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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Here are 10 key points from the chapter:\n- Introduction to CI Insurance: The chapter begins with the history of CI Insurance, tracing its origins to 1983 in South Africa, initially known as dread disease insurance. It highlights the evolution and global acceptance of CI Insurance.\n- Critical Illness Framework of 2019: It discusses the framework established in consultation with the Monetary Authority of Singapore, aimed at offering clear and consistent coverage to balance the interests of consumers and insurance companies.\n- Benefits of CI Insurance: The chapter details the financial support provided to policyholders diagnosed with a specified critical illness or who have undergone a covered surgical procedure, which can be used for care, treatment, recuperation, or income loss compensation.\n- Variations in CI Insurance: It emphasizes understanding the specific conditions and stages of illnesses covered by a policy, introducing Severity-Based Critical Illness plans that offer payouts at earlier stages.\n- Severity-Based Critical Illness Plans: These plans are highlighted for their advantage of providing early financial support for better treatment outcomes.\n- Underwriting Processes: The chapter discusses the underwriting processes involved in CI Insurance, including factors considered in determining the adequacy of CI coverage.\n- Common Exclusions: It addresses common exclusions in CI Insurance policies, providing insights into what is not covered.\n- Termination of Cover: The chapter explains the conditions under which CI Insurance coverage may be terminated.\n- Claims Procedures: Detailed information on the procedures to follow when making a claim under CI Insurance is provided.\n- Group Critical Illness Insurance: The chapter concludes with an overview of Group Critical Illness Insurance policies, explaining how they operate and differ from individual CI Insurance policies.\nAdditionally, appendices and annexes offer resources like standard definitions for severe stages of 37 critical illnesses and a list of changes to the standard list of critical illnesses under the 2019 framework, enhancing understanding of CI Insurance.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 7: Other Types Of Health Insurance, into 10 bullet points"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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Here are 10 key points from the chapter:\n- Introduction to Diverse Health Insurance Types: The chapter begins by emphasizing the importance of understanding the wide range of health insurance options available, catering to different health-related needs and circumstances.\n- Hospital Cash (Income) Insurance: This section details insurance policies that provide a daily cash benefit to policyholders hospitalized due to illness or injury, helping to cover incidental expenses.\n- Medical Expense Benefits under Travel Insurance: Explores how travel insurance policies often include coverage for medical expenses incurred while traveling abroad, highlighting the conditions and limitations of such benefits.\n- Group Dental Care Insurance: Discusses insurance policies designed to cover dental care expenses, typically offered as part of group insurance plans to employees or members of organizations.\n- Conditions for Claims: Each section meticulously outlines the specific conditions under which claims can be made for the respective types of insurance, ensuring clarity for policyholders.\n- Features and Types: The chapter provides detailed descriptions of the features and variations of each insurance type, helping readers understand the options available to them.\n- Underwriting Processes: Insight into the underwriting processes for these insurance types is provided, explaining how insurers assess risk and determine policy terms.\n- Exclusions: Highlights common exclusions across different health insurance types, informing readers about what is not covered under their policies.\n- Termination of Coverage: Discusses the circumstances under which coverage can be terminated, offering guidance on how to maintain continuous protection.\n- Claims Procedures: The chapter concludes with an overview of the claims procedures for each insurance type, ensuring readers are well-informed on how to proceed in the event of a claim.\nAdditionally, appendices likely offer further insights or case studies, enriching the reader's understanding of the diverse health insurance landscape.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 8: Managed Healthcare, into 10 bullet points\n\n\nAssistant:\nHere are 10 detailed bullet points about Chapter 8: Managed Healthcare from the textbook:\n- Introduction to Managed Healthcare (MHC): The chapter begins by explaining the evolution of MHC as a strategy developed in response to escalating healthcare costs, focusing on its role in insurance-backed plans, particularly within Employee Benefit packages.\n- Definition and Purpose: MHC is defined as a system designed to manage the cost, accessibility, and quality of healthcare services. It aims to contain healthcare expenses while ensuring that patients receive appropriate care.\n- Operation of MHC: The chapter outlines how MHC operates through a network of healthcare providers. It involves managing care accessibility, negotiating contracts with healthcare services, and controlling expenditures to manage costs effectively.\n- Types of MHC Plans: The text delves into common MHC plans, including Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), and Point-of-Service (POS) plans, explaining their structures and differences in provider choice and cost control.\n- Role of Primary Care Physicians (PCPs): It highlights the critical role of PCPs in MHC plans, emphasizing their importance in providing primary and preventive care, and acting as gatekeepers for specialist services.\n- MHC Insurance Specifics: The chapter covers the specifics of MHC insurance, including the benefits offered, elements of co-insurance and deductibles, common exclusions, underwriting requirements, and claims procedures.\n- Overview of MHC in Singapore: It concludes with insights into the implementation of MHC schemes in Singapore, providing a local perspective on how MHC models operate within the country.\n- Learning Outcomes: Readers are expected to understand what MHC is, describe how it works, list common payment methods and types of MHC plans, and differentiate between types of HMOs.\n- Balance Between Provider Choice and Cost Control: The chapter discusses the balance MHC plans strike between offering patients a choice of providers and controlling healthcare costs, a key aspect of MHC strategies.\n- Benefits of MHC Insurance: It identifies the benefits of MHC insurance, including how it can lead to more efficient healthcare delivery and cost savings for both providers and patients, through the structured management of care.\nThis chapter provides a thorough overview of Managed Healthcare, its mechanisms, types of plans, and its implementation, particularly focusing on the Singapore context.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 9: Part I Healthcare Financing, into 10 bullet points"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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CareShield Life, which will eventually replace ElderShield, offers higher payouts and lifetime coverage.\n- Utilization of MediSave: The chapter explains how MediSave funds can be used for various healthcare needs, including hospitalization, approved outpatient treatments, and health insurance premiums for MediShield Life and Integrated Shield Plans.\n- Affordability and Coverage: Lastly, it discusses the efforts to keep MediShield Life premiums affordable through government subsidies and the enhanced benefits provided under MediShield Life, ensuring comprehensive coverage for all Singaporeans.\nThis chapter provides a detailed understanding of the multifaceted healthcare financing system in Singapore, emphasizing the government's approach to ensuring affordability and accessibility of healthcare services for all citizens.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 9: Part II Healthcare Financing, into 10 bullet points\n\n\nAssistant:\nChapter 9: Part II Healthcare Financing provides an in-depth look into the continuation of healthcare financing schemes in Singapore, focusing on the support for elderly citizens and other specific groups. Here are the key points:\n- ElderShield and ElderShield Supplements: Introduced as a basic long-term care insurance scheme aimed at providing financial support to those who need long-term care due to severe disabilities. ElderShield Supplements are optional add-ons for higher coverage.\n- Transition to CareShield Life: Starting from 2020, Singapore transitioned from ElderShield to CareShield Life, a more comprehensive long-term care insurance scheme that provides better financial support and is mandatory for all Singaporeans born in 1980 or later.\n- Enhanced Benefits under CareShield Life: CareShield Life offers higher payouts that increase over time, with lifetime coverage for severe disability, ensuring better financial protection.\n- Pioneer Generation Package: A scheme designed to honor and provide additional healthcare support to Singaporeans who were aged 65 and above in 2014 and obtained citizenship before 1987.\n- Merdeka Generation Package: Targets Singaporeans who were aged 60 to 69 in 2019, providing them with additional subsidies for outpatient care, MediShield Life premium subsidies, and other benefits.\n- Interim Disability Assistance Programme for the Elderly (IDAPE): Offers financial assistance to elderly Singaporeans who were not eligible for ElderShield due to age or pre-existing conditions.\n- ElderFund: A scheme that provides additional financial support for lower-income Singaporeans aged 30 and above who need long-term care but are not eligible for other insurance schemes due to severe disabilities.\n- MediFund: An endowment fund set up by the government to help Singaporeans who are unable to afford their medical bills despite government subsidies and other health financing schemes.\n- Coverage of COVID-19 Medical Bills: The Singapore Government covers the COVID-19 medical bills for Singaporeans, Permanent Residents, and Long-Term Pass Holders, excluding those who test positive after returning from overseas travel under non-permitted travel arrangements.\n- Comprehensive Approach to Healthcare Financing: Part II emphasizes Singapore's comprehensive and inclusive approach to healthcare financing, ensuring that various schemes and packages are in place to support citizens at different stages of life, particularly focusing on the elderly and those with long-term care needs.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 10: Common Policy Provisions, into 10 bullet points"}


created_at: 2024-03-15 18:52:31
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Here's a summary in 10 bullet points:\n- Introduction to Policy Provisions: The chapter begins by highlighting the importance of understanding policy provisions to avoid disputes between the insurer and the insured.\n- Structure of a Health Insurance Policy: It outlines the typical sections of a health insurance policy, including the Policy Schedule, Insuring Clause & Definitions, General Conditions, Benefit Provisions, Exclusions, Claim Conditions, and Endorsements.\n- Policy Schedule: This section contains specific details about the policy owner, insured persons, coverage limits, and other pertinent information.\n- Insuring Clause & Definitions: Defines the scope of coverage and key terms used throughout the policy, ensuring clarity and understanding.\n- General Conditions: Covers aspects related to policy management, such as premium payments, renewal terms, and the effective date of the policy.\n- Benefit Provisions: Details the benefits that the policyholder is entitled to under the policy.\n- Exclusions: Lists what is not covered by the policy, helping policyholders understand the limitations of their coverage.\n- Claim Conditions: Outlines the procedures and requirements for filing claims, including the necessity for original documentation and the insurer's right to request medical examinations.\n- Endorsements: Addresses any amendments or additional clauses attached to the policy, which may modify its terms or coverage.\n- Dispute Resolution: Details the steps for resolving disputes, including mediation/arbitration and legal action provisions, emphasizing the role of the Financial Industry Disputes Resolution Centre Ltd (FIDReC) and the legal framework within the Republic of Singapore.\nThis chapter aims to provide readers with a comprehensive understanding of the common provisions found in health insurance policies, enabling them to navigate their insurance contracts effectively.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 11: Health Insurance Pricing, into 10 bullet points\n\n\nAssistant:\nChapter 11 of \"Health Insurance 7th Edition\" on Health Insurance Pricing provides a detailed exploration of how health insurance premiums are determined, focusing on various influencing factors and parameters. Here's a summary in 10 bullet points:\n- Introduction to Premium Computation: The chapter begins by setting the stage for understanding the complex process of determining health insurance premiums, emphasizing the importance of various factors and parameters.\n- Key Factors in Premium Calculation: It outlines the major factors influencing premium costs, including morbidity experience, investment income, operating expenses, medical inflation, the scope of benefits, insurer\u2019s profit, premium payment modes, and underwriting depth.\n- Morbidity Experience: This factor refers to the historical data on the frequency and severity of claims, which significantly influences premium rates.\n- Investment Income: Insurers consider potential income from investing premiums when determining the cost, as this can offset some of the expenses related to claims.\n- Operating Expenses: The costs associated with administering health insurance plans, including marketing, claims processing, and other administrative tasks, are factored into premiums.\n- Medical Inflation: Rising costs of healthcare services and technologies contribute to increasing premium rates over time.\n- Scope of Benefits Covered: The extent and variety of benefits offered by a policy directly impact the premium, with more comprehensive coverage requiring higher premiums.\n- Insurer\u2019s Profit and Risk Margin: Premiums include a margin to ensure the insurer remains profitable and can cover unexpected losses.\n- Parameters for Premium Rating: Individual or group characteristics such as age, gender, health status, lifestyle, and occupation influence premium rates due to their impact on the risk of claims.\n- Complexity of Pricing: The chapter emphasizes the multifaceted nature of health insurance pricing, highlighting the need for insurers to balance covering costs and obligations while ensuring affordability for policyholders.\nThrough this chapter, readers gain a foundational understanding of the principles and practices behind health insurance pricing, including the myriad factors and parameters that insurers consider when setting premiums.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 12: Health Insurance Underwriting, into 10 bullet points"}


created_at: 2024-03-15 18:52:31
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{"_node_content": "{\"id_\": \"73374570-303c-499c-88ee-64e26839cf4d\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"bb44f444-577e-4ee3-8c1c-ac51013fad49\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"44be31f6a20c0cf6a29c4e1c65d5fbcf3bf92f53b8e96777eb1e16a229ec93ff\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"183aad93-4860-4fa4-90f6-5368648ba0ad\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"02198f3af73addfa5fd319e1136ac53ce2d6824a3056d4176517020733d14a6c\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1291500, \"end_char_idx\": 1297282, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "User:\nPlease summarise and give me more detailed information about Chapter 12: Health Insurance Underwriting, into 10 bullet points\n\n\nAssistant:\nChapter 12, titled \"Health Insurance Underwriting,\" provides a comprehensive look into the underwriting process for health insurance. Here are the key points summarized:\n- Introduction to Underwriting: Defines underwriting as the process of assessing risks to decide on accepting an insurance application and determining the terms. It's crucial for setting premiums that reflect the risks each applicant poses.\n- Focus on Morbidity Risks: Unlike life insurance, which focuses on mortality risks, health insurance underwriting is concerned with morbidity risks, evaluating the likelihood of illness or injury leading to claims.\n- Medical and Non-Medical Factors: Underwriting considers both medical factors, like an applicant's health history and current conditions, and non-medical factors, including financial status, occupation, age, and residency.\n- Types of Health Insurance: The chapter discusses underwriting considerations unique to various health insurance types, such as medical expense insurance, disability income insurance, long-term care insurance, critical illness insurance, and managed healthcare.\n- Underwriting Methods: Describes different methods, including full medical underwriting, moratorium underwriting, simplified issuance offer (SIO), and guaranteed issuance offer (GIO).\n- Group Insurance Underwriting: Highlights factors like group stability, size, business nature, employee classes, participation level, age and gender demographics, expected persistency, past claims experience, and medical inflation.\n- Sources of Underwriting Information: Identifies sources such as the proposal form, agent's statement, medical examinations/tests, attending physician's statement (APS), and supplementary questionnaires.\n- Final Underwriting Decision: Discusses the potential outcomes, including acceptance, modification of terms, or decline due to serious medical or other reasons.\n- Commencement of Risk: Risk begins once the proposer agrees to the terms of acceptance and pays the premium, marking the start of the insurance coverage.\n- Importance of Underwriting: Underwriting is portrayed as a vital process that protects insurers against anti-selection risk and ensures premiums are proportionate to the risks involved.\nThis chapter underscores the complexity and critical nature of health insurance underwriting in maintaining the balance between risk management and premium affordability.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 13: Notice No: MAS 120 Disclosure And Advisory Process - Requirements For Accident And Health Insurance Products, into 10 bullet points\n\n\nAssistant:\nChapter 13 of the textbook, titled \"Notice No: MAS 120 \u2013 Disclosure and Advisory Process Requirements for Accident and Health Insurance Products,\" provides a detailed overview of the regulatory guidelines issued by the Monetary Authority of Singapore (MAS) for the sale of accident and health insurance products. Here are the key points summarized:\n- Objective of MAS Notice 120: The chapter begins by explaining the purpose of MAS Notice 120, which is to ensure that consumers are well-informed and receive appropriate advice when purchasing accident and health insurance products.\n- Scope of Products: It specifies the types of insurance products covered under this notice, including accident and health insurance policies as well as life insurance policies that offer accident and health benefits.\n- Definitions: The chapter provides definitions for key terms and concepts relevant to the notice, ensuring clarity in understanding the regulatory requirements.\n- Disclosure Requirements: A significant portion of the chapter is dedicated to detailing the mandatory disclosure requirements that insurers and their representatives must adhere to during the sales process. This includes providing comprehensive information about the product features, benefits, exclusions, and risks.\n- Advisory Process: The chapter outlines the advisory process requirements, emphasizing the importance of conducting a thorough needs analysis to ensure that the advice given is suitable for the client's financial situation and insurance needs.\n- Know-Your-Client Procedures: It discusses the know-your-client (KYC) procedures that must be followed, including collecting and assessing information about the client's financial situation, objectives, and risk tolerance.\n- Documentation and Record-Keeping: The chapter highlights the importance of proper documentation and record-keeping of the advice provided and the information disclosed during the sales process.\n- Policy Switches: It addresses the handling of policy switches, including the need for clear documentation and justification when recommending a switch from one policy to another.\n- Non-Mandatory Best Practices: The chapter also touches on non-mandatory best practice standards that insurers are encouraged to follow, including enhanced information disclosure and monitoring of policy switches.\n- Regulatory Compliance: Finally, the chapter underscores the importance of compliance with MAS Notice 120 as part of the broader regulatory framework governing the sale of accident and health insurance products in Singapore, aiming to protect consumers and maintain the integrity of the insurance market.\nThis chapter provides a comprehensive guide to the regulatory requirements and best practices for the disclosure and advisory process in the sale of accident and health insurance products, as mandated by MAS Notice 120.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 14: Financial Needs Analysis, into 10 bullet points"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 183aad93-4860-4fa4-90f6-5368648ba0ad
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{"_node_content": "{\"id_\": \"183aad93-4860-4fa4-90f6-5368648ba0ad\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"73374570-303c-499c-88ee-64e26839cf4d\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"30336912d1ac4ccce9c45c89aac388abe99743cb7d85410195f88df18cac81dd\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"81e7b781-8192-4988-81c4-b456099524fd\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"1fe443b1225c7bfec853a8e4e664dcbe79a8daec424eeea6ae36376a6ee9969e\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1297156, \"end_char_idx\": 1300148, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "User:\nPlease summarise and give me more detailed information about Chapter 14: Financial Needs Analysis, into 10 bullet points\n\n\nAssistant:\nChapter 14, focusing on \"Financial Needs Analysis\" provides a comprehensive guide to understanding and implementing a client-centric approach in the financial advisory process. Here are the key highlights summarized into 10 bullet points:\n- Needs Selling Versus Product Selling: The chapter begins by contrasting two sales approaches, emphasizing that needs selling prioritizes the client's financial needs and goals over pushing specific products, leading to more client satisfaction and long-term relationships.\n- What Is Fact-Finding?: Fact-finding is introduced as a critical step in the financial needs analysis process, involving gathering comprehensive information about the client's financial situation, goals, and risk tolerance to make informed recommendations.\n- Identifying & Quantifying Needs: This section details how to identify and quantify the client's financial needs, including immediate, short-term, and long-term goals, which is essential for creating a tailored financial plan.\n- Product Recommendations: After analyzing the client's needs, the chapter discusses how to match these needs with appropriate financial products, ensuring that recommendations are suitable and aligned with the client's objectives.\n- Presenting Your Recommendations: Techniques for effectively presenting recommendations to clients are covered, highlighting the importance of clear communication and how to address any concerns or objections they may have.\n- Periodic Client Review: The chapter underscores the necessity of conducting periodic reviews with clients to assess their changing financial needs and circumstances, ensuring that their financial plan remains relevant and effective.\n- Building Trust and Rapport: It emphasizes the importance of building trust and rapport with clients through transparency, active listening, and demonstrating a genuine interest in their well-being.\n- Ethical Considerations: Ethical considerations in the financial needs analysis process are discussed, including the importance of honesty, integrity, and putting the client's interests first.\n- Documentation and Compliance: The chapter highlights the need for thorough documentation of the fact-finding process, recommendations made, and any actions taken, ensuring compliance with regulatory requirements and standards.\n- Continuous Learning and Improvement: Finally, it advocates for continuous learning and improvement in financial advisory skills, staying updated with industry trends, and adapting to new tools and methodologies to better serve clients.\nThis chapter provides a roadmap for financial advisors to conduct a thorough financial needs analysis, ensuring that clients receive personalized, goal-oriented advice and solutions.\n\n\nUser:\nPlease summarise and give me more detailed information about Chapter 15: Case Studies, into 10 bullet points"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 81e7b781-8192-4988-81c4-b456099524fd
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{"_node_content": "{\"id_\": \"81e7b781-8192-4988-81c4-b456099524fd\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"183aad93-4860-4fa4-90f6-5368648ba0ad\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"02198f3af73addfa5fd319e1136ac53ce2d6824a3056d4176517020733d14a6c\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"48038a5d-0389-4e82-8760-b834fbe8798e\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"4aa2384bf60b2a68ad37fb255f32cc4181d99eb7546b4da71288cd8aa4c973a5\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1300034, \"end_char_idx\": 1304915, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "User:\nPlease summarise and give me more detailed information about Chapter 15: Case Studies, into 10 bullet points\n\n\nAssistant:\nChapter 15 of \"Health Insurance 7th Edition\" focuses on case studies related to individual and group health insurance scenarios. Here's a summary in 10 bullet points:\n- Individual Case Study: Utilizes a Fact Find Form to gather information, identifying Disability Income Insurance and Total Permanent Disability (TPD)/Personal Accident Policy as suitable products based on employment status. It also highlights various products to cover medical costs, including Medical Expense Insurance and Critical Illness Insurance.\n- Group Case Study: Uses a Group Fact Find Form for data collection, determining Sum Assured for Group Term Life Insurance either by rank or a multiple of the employee's basic salary. It emphasizes the importance of obtaining the company's past claim history for premium determination and the procedural steps from quotation to policy issuance.\n- Managed Healthcare: Describes Managed Healthcare as a strategy for providing appropriate medical care while containing costs, focusing on accessibility, quality of care, and cost containment methods like capitation and discounted fees.\n- Medical Expense Insurance: Covers specific medical expenses resulting from accidents and sickness, including inpatient and outpatient expenses, with various reimbursement benefits.\n- Disability Income Insurance: Offers income replacement to safeguard one's earning capacity in case of total disability, with benefits including death, partial, and total disability during the benefit period.\n- Long-Term Care Insurance: Pays benefits for the cost of care for those who are physically impaired and cannot function independently, covering conditions like Alzheimer's disease.\n- Critical Illness Insurance: Provides a lump sum upon diagnosis of a specified dread disease, with new plans offering severity-based payouts and the possibility of multiple claims for different stages of a critical illness.\n- Hospital Cash Insurance: Offers a daily cash benefit if hospitalized due to accident or illness, with a fixed cash amount not related to actual costs incurred.\n- Exclusions and Underwriting: Lists common exclusions across different types of health insurance, such as pre-existing conditions and self-inflicted injuries. It also outlines important factors in underwriting, including medical history and current physical condition.\n- Termination of Cover and Claims: Details scenarios leading to the termination of coverage, such as death of the insured or reaching the lifetime limit. It also explains the claims process, including the requirement for original medical bills and physician statements for out-of-network care.\nThis chapter provides a comprehensive overview of various health insurance products, their features, exclusions, underwriting considerations, and the claims process through practical case studies.\n\nChapter 1 - 2\nQuestion: Which is not a government healthcare philosophy? \nA. To nurture a healthy nation by promoting good health.\nB. To rely on competition to improve service and raise efficiency\nC. To intervene directly whenever necessary\nD. To provide for the care of employees\nAnswer: D. The correct answer is \"To provide for the care of employees\".\n\n\nChapter 1 - 5.2\nQuestion: Which of the following is TRUE on the similarity of Means Testing and Casemix?\nA. Both are financing mechanism.\nB. Both are cost allocation mechanism.\nC. Both are subsidies given by the government.\nD. Both uses gross income of the patient to determine subsidy\nAnswer: C. The correct answer is \"Both are subsidies given by the government\".\n\n\nC2/2.1.1(i)\nQuestion: Under Medical Expense Insurance, what is not included in Inpatient Expenses?\nA. Daily Room and Board Charges\nB. Emergency Accidental Treatment Charges\nC. Surgeon\u2019s Fees\nD. Congenital Anomalies\nAnswer: B. The correct answer is \"Emergency Accidental Treatment Charges is not included in Inpatient Expenses\".\n\n\nC2/2.1.1(iii)\nQuestion: Which of the following is covered under catastrophic outpatient expenses in Medical Expense\nInsurance Policy?\nA. Outpatient liver treatment charges\nB. Outpatient kidney treatment charges\nC. Outpatient Hepatitis B Vaccination\nD. Outpatient assisted conception procedures\nAnswer: B. The correct answer is \"Outpatient kidney treatment charges\".\n\n\nC2/2.2.3\nQuestion: Miscarriage Benefit in a Medical Expense Policy provides for:\nA. The reimbursement of expenses in a willful termination to a pregnancy.\nB. The reimbursement of Assisted Conception Procedure treatments.\nC. The reimbursement of charges incurred for the consultation of a specialist within a number of days before termination.\nD. The reimbursement of medical expenses in an ectopic pregnancy\nAnswer: D. The correct answer is \"The reimbursement of medical expenses in an ectopic pregnancy\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 48038a5d-0389-4e82-8760-b834fbe8798e
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{"_node_content": "{\"id_\": \"48038a5d-0389-4e82-8760-b834fbe8798e\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"81e7b781-8192-4988-81c4-b456099524fd\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"1fe443b1225c7bfec853a8e4e664dcbe79a8daec424eeea6ae36376a6ee9969e\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"c21fd648-a769-4631-9b33-4a032df2369f\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"6df96627d677b34f9bb1c0695251641b938e407e633af0afee9d226f3149ce68\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1304918, \"end_char_idx\": 1308702, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C2/3.3\nQuestion: Mr. Lim is buying a policy for himself and his wife and 2 children of the same premium each. \nWhat is the premium payable given the following?\nMr. Ang\u2019s premium $182.31\nMrs. Ang\u2019s premium $227.89\n1 child\u2019s premium $102.50\nA. $512.70\nB. $584.44\nC. $615.20\nD. $487\nAnswer: B. The correct answer is \"The premium payable is $584.44\". Rationale is that ($182.31 + $227.89 + $102.5 + $102.5 )X 95% (enjoy family discount of 5%) = $584.44\n\n\nC2/3.5.1\nQuestion: Which of the following is NOT a characteristic of medical expense insurance?\nA. Pro ration factor and co-insurance.\nB. Deductibles apply for all treatments.\nC. Impose Sub- Limits.\nD. Can be issued as a rider or stand-alone.\nAnswer: B. The correct answer is \"Deductibles apply for all treatments\".\n\n\nC2/3.5.1\nQuestion: Which of the following statement is TRUE?\nA. Per disability/per year deductible is more restrictive as compared to per disability/per claim deductible.\nB. The same sickness or injury within the same policy year applies to \u201cper disability/per claim deductible\u201d.\nC. Per annum deductible includes a variety of covered sickness or injuries within a policy year.\nD. Under per disability/per year deductible, the insured will have to bear the deductible each time he makes a claim regardless of the number claims made within the same year.\nAnswer: C. The correct answer is \"Per annum deductible includes a variety of covered sickness or injuries within a policy year\".\n\n\nC2/3.5.3\nQuestion: When the insured person is admitted to a ward higher than what he is entitled to under his existing plan, ___________is applied on the actual charges incurred and covered under the policy. It will cause actual benefits payable to be reduced. \nA. Deductible\nB. Co\u2013insurance\nC. Means Testing\nD. Pro-ration factor\nAnswer: D. The correct answer is \"Pro-ration factor\".\n\n\nC3/2\nQuestion: Which of the following characteristics of group insurance is important to the underwriter in determining the \u201cfeel\u201d of future claim experience? \nA. Minimal underwriting requirement, as employee only need to complete a health declaration form.\nB. Experience-rating, as it is usually underwritten based on past claims experience.\nC. Cost effective, as it provides low cost protection.\nD. Plan is renewable by the employer on a yearly basis.\nAnswer: B. The answer is \"Experience-rating, as it is usually underwritten based on past claims experience\".\n\n\nC3/2\nQuestion: Group Polices often have an \u201cactively at work\u201d clause. In order to be eligible for the cover, this clause requires:\nA. The employee to be under a compulsory scheme.\nB. The employee to be full time employed on the day the insurance coverage takes effect.\nC. The employee to be at work on the day the insurance coverage takes effect.\nD. The employee to obtain official Medical Certificate if he is unwell on the day the insurance coverage takes effect.\nAnswer: C. The answer is \"The employee to be at work on the day the insurance coverage takes effect\".\n\n\nC3/4.1\nQuestion: Which of the key factor in Portable Medical Benefit Scheme is most correct?\nA. Employees will be medically insured in between jobs.\nB. Employers are automatically granted tax deduction.\nC. Employees contribute and pay through his own Medisave.\nD. Employees have no control over the policy.\nAnswer: A. The answer is \"Employees will be medically insured in between jobs\".\n\n\nC3/4.2\nQuestion: When an employee leaves his current company, medical benefits provided by his employer will automatically be terminated. Which of the following plans purchased by the employer will solve this problem?\nA. Group Medical Expense Insurance\nB. Portable Medical Benefit Scheme\nC. Transferable Medical Insurance Scheme\nD. Integrated Shield Plans\nAnswer: C. The answer is \"Transferable Medical Insurance Scheme\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"c21fd648-a769-4631-9b33-4a032df2369f\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"48038a5d-0389-4e82-8760-b834fbe8798e\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"4aa2384bf60b2a68ad37fb255f32cc4181d99eb7546b4da71288cd8aa4c973a5\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"3e911b4e-0442-4adf-8099-bc076946f10f\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"a5c6797f675738fbb16047e0c6facbd17cf4dd62505e894072787ac1a641e551\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1308705, \"end_char_idx\": 1312214, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C4/Eg 4.3\nQuestion: Compute Disability Income Benefit. Given the following details:\nEscalation Benefit : 3%\nMonthly Income : $5000\nMonthly Expense : $3000\nNo of years : 30 years\nA. $1,141,809\nB. $1,712,714\nC. $2,140,893\nD. $2,854,524\nAnswer: C. The answer is \"$2,140,893\". \nRationale is that:\n$5000 x 75% = $3750\n$3750 X 12 x *47.5754 = $2,140,893\n* 47.5754 (factor from Table A1 \u2013 3%; 30 years)\n\n\nC4/5.1.2\nQuestion: \u201cThe insured\u2019s inability to perform any gainful occupation or a similar occupation for which he is reasonably suited by reason of education, training or experience\u201d refers to: \nA. Any Occupation\nB. Own Occupation\nC. Specific Occupation\nD. Modified Own Occupation\nAnswer: D. The answer is \"Modified Own Occupation\".\n\n\nC4/6.2b\nQuestion: Mr Tan, who is an accountant, used to earn $4,000 per month before he was disabled. After partial recovery from his disability, he found a suitable job as a clerk, which pays him $1,500 per month. What would Mr Tan\u2019s disability income benefit be?\nA. $3,000 per month\nB. $2,500 per month\nC. $1,875 per month\nD. $4,000 per month\nAnswer: C. The answer is \"$1,875 per month\". Rationale is that $4000 - $1500 / $4000 x $3000 = $1875.\n\n\nC4/11\nQuestion: Disability Income will not terminate when the insured________.\nA. changes his occupation.\nB. resides outside Singapore for a specified period of time.\nC. is unemployed for a period of time.\nD. has not paid up his premiums due after the grace period.\nAnswer: A. The answer is \"changes his occupation\".\n\n\nC5/2\nQuestion: Which of the following regarding Long Term Care Insurance (LTCI) is true?\nA. LTCI is meant to meet costs of care to a special group of elderly who is physically impaired and unable to function independently.\nB. The young and healthy need not buy LTCI.\nC. It is not governed by the Over Insurance Provision Clause.\nD. Premiums are based on age band basis.\nAnswer: C. The answer is \"It is not governed by the Over Insurance Provision Clause\".\n\n\nC5/3.1a \nQuestion: Which of the following payment method is associated with LTCI benefits issued under \u201cService Based\u201d Policy ?\nA. Indemnity Method.\nB. Pays if meet benefit trigger.\nC. Pays 100% if unable to perform 4 out of 6 ADLs.\nD. Level Premium basis. \nAnswer: A. The answer is \"Indemnity Method\".\n\n\nC5/3.2.1\nQuestion: Which of the following is NOT an Activity of Daily Living?\nA. Continence\nB. Morbidity\nC. Dressing\nD. Transferring\nAnswer: B. The answer is \"Morbidity\".\n\n\nC5/8, 8/3.2.6\nQuestion: In which area is Eldershield and Long Term Care Insurance different?\nA. Free look Period.\nB. The definition of Activity of Daily Livings (ADLs).\nC. Purpose of the plans.\nD. On how the plan is issued, eg guaranteed renewable basis.\nAnswer: A. The answer is \"Free look Period\".\n\n\nC6/2.1g\nQuestion: The insured must survive the survival period before the dread disease benefit becomes payable. The survival period is a period of time:\nA. from the date of policy issue\nB. from the date of any reinstatement of the policy\nC. from the date of inception\nD. from the occurrence of a dread disease\nAnswer: D. The answer is \"from the occurrence of a dread disease\".\n\n\nC6/2.2& 2.7\nQuestion: Critical Illness cover will not terminate when :-\nA. Policy is converted into an Extended Term Policy.\nB. A critical illness claim has been made.\nC. Policy owner exercises Paid Up Option under the non forfeiture options.\nD. Policy lapses due to non-payment of premium.\nAnswer: C. The answer is \"Policy owner exercises Paid Up Option under the non forfeiture options\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"3e911b4e-0442-4adf-8099-bc076946f10f\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"c21fd648-a769-4631-9b33-4a032df2369f\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"6df96627d677b34f9bb1c0695251641b938e407e633af0afee9d226f3149ce68\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"9edb6478-e806-49dd-8ba9-e3168589e41c\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"1392b4b104de675fe76000a9a4f10c6420e75a99594e69e9873ed8b6a90648d3\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1312217, \"end_char_idx\": 1315551, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C6/2.3.1\nQuestion: Mr. X bought a $150,000 whole life type of Critical Illness Policy with 50% acceleration benefit. How much is payable to him upon diagnosis of cancer? \nA. $150,000\nB. $75,000\nC. $50,000\nD. $225,000\nAnswer: B. The answer is \"$75,000\".\n\n\nC6/3\nQuestion: Calculate the total maximum amount this Hospital Cash Income Insurance Policy will pay based on these policy details:\nDaily Benefit: $100\nMax of 180 days per hospitalization\nLifetime Limit: 1000 days\nHe was hospitalized for 185 days per hospitalization\nA. $100,000\nB. $18,500\nC. $18,000\nD. $180,000 \nAnswer: A. The answer is \"$100,000\". Rationale is that Lifetime limit of 1000 days X $100 per day = $100,000.\n\n\nC7/3\nQuestion: Managed Healthcare Organisations work through which components to manage healthcare expenditure?\nA. Quality of Care.\nB. Premiums.\nC. Enrolment fee for non usage.\nD. Number of members eligible for enrolment.\nAnswer: A. The answer is \"Quality of Care.\"\n\n\nC7/3.2\nQuestion: To control increasing medical costs, which of the following is not used by Managed Healthcare? \nA. Capitation\nB. Salary\nC. Profit Sharing\nD. Fee Schedule \nAnswer: C. The answer is \"Profit Sharing\".\n\n\nC7/5\nQuestion: Which of the following MHC plans has the lowest degree of Cost Control?\nA. Staff Model HMO\nB. Group Model HMO\nC. Network Model HMO\nD. Traditional Medical Expense Insurance \nAnswer: D. The answer is \"Traditional Medical Expense Insurance\".\n\n\nC7/6.1\nQuestion: Which of the following is not a benefit of Managed HealthCare Plans?\nA. Preventive Care\nB. Specialist Care\nC. Intensive Care\nD. Emergency Care\nAnswer: C. The asnwer is \"Intensive Care\".\n\n\nC8/2.1\nQuestion: Which of the following medical expenses could not be used to pay from one\u2019s Medisave?\nA. Spouse\nB. Children\nC. Parents\nD. Grandparents (regardless of nationality)\nAnswer: D. The answer is \"Grandparents (regardless of nationality)\".\n\n\nC8/2.1, 2.2\nQuestion: Which of the following regarding Medisave and MediShield is true?\nA. Medisave is a saving scheme and MediShield cover is granted automatically to Singaporeans when they became CPF members.\nB. Both schemes are opt out scheme.\nC. Both are low cost catastrophic medical insurance schemes.\nD. Both have high deductibles.\nAnswer: A. The answer is \"Medisave is a saving scheme and MediShield cover is granted automatically to Singaporeans when they became CPF members\".\n\n\nC8/2.1.1(f)\nQuestion: Which of the following is not covered under Chronic Disease Management Programme?\nA. Diabetes Mellitus\nB. Osteoporosis (brittle bones)\nC. Lipid Disorders\nD. Hypertension\nAnswer: B. The answer is \"Osteoporosis (brittle bones)\".\n\n\nC8/2.2.3\nQuestion: Miss Ang was hosptialised for 8 days. Her total hospital bill was $22,400. She was able to receive $11,000 from her company group Medical Expense Policy. She is now awaiting for the reimbursement from her own private medical insurance (PMI). Details of her hospital bill & PMI (no deductibles and co insurance) as follows: \n| Description | Hospital Bills | Amount covered under PMI |\n|---|---|---|\n| Room and board | S$300 x 8 = $2,400 | S$250 x 8 = $2,000 |\n| Surgery | S$20,000 | S$10,000 |\n| Total | $22,400 | S$12,000 |\nHow much is she able to claim from her PMI?\nA. S$11,400\nB. S$12,000\nC. S$22,400\nD. S$10,400\nAnswer: A. The answer is \"S$11,400\". Rationale is that $22400 - $11000 = $11,400."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"9edb6478-e806-49dd-8ba9-e3168589e41c\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"3e911b4e-0442-4adf-8099-bc076946f10f\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"a5c6797f675738fbb16047e0c6facbd17cf4dd62505e894072787ac1a641e551\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"fdc1b319-aec2-4dcf-901b-5d76fc4ab58e\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"75c4c997abec3bd15708470505688188847c0d6764b2132a022993054d7d308e\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1315554, \"end_char_idx\": 1319401, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C8/2.2.3\nQuestion: Jenny went to Johor Bahru and while on her way back to Singapore, she met with an accident on March 2008. She incurred a bill of $6,300. Policy came with a deductible of $1500 and a co-insurance as follows:\n$1000 - $3000 : 15%\n$3001 - $6000 : 20%\nHow much would the insurer have paid her?\nA. $3,840\nB. $3,940\nC. $3,990\nD. $4,080\nAnswer: B. The answer is \"$3,940\".\nRationale is that,\nTotal expenses = $6300\nLess deductible = ($1500)\nLess co-insurance = *($860)\nClaimable = $3940\n* Computation of Co insurance\n$1000 - $3000: $300 (15% x $2000)\n$3001- $6000 : $560 (20% x $2800)\nTotal : $860\n\n\nC9/3\nQuestion: Which of the following section in a Health Insurance Contract must the adviser goes through with the client to ensure no typographical error?\nA. Policy Schedule\nB. Insuring Clause\nC. Entire Contract Clause\nD. Benefit Provision\nAnswer: A. The answer is \"Policy Schedule\".\n\n\nC9/4.1\nQuestion: Which of the following sections in a Health Insurance Policy contract represents the \u201cfoundation\u201d of a Health Insurance Policy? \nA. Policy Schedule\nB. General Conditions\nC. Insuring Clause & Definitions\nD. Benefits Provisions\nAnswer: C. The answer is \"Insuring Clause & Definitions\".\n\n\nC9/5.3\nQuestion: Which clause states that the policy shall not be in-force, unless premium is paid to the company on or before the inception date of the policy?\nA. Insuring Clause\nB. Renewal Provision\nC. Incontestability Clause\nD. Premium Warranty Clause. \nAnswer: D. The answer is \"Premium Warranty Clause\".\n\n\nC10/2.1\nQuestion: What is the key factor for Health Insurance Pricing?\nA. Mobility\nB. Morbidity\nC. Mortality\nD. Longevity \nAnswer: B. The answer is \"Morbidity\".\n\n\nC11/2\nQuestion: The role of underwriting is important because it enables the underwriter to:\nA. Help to protect the insurer against anti-selection and in the preservation of the insurer\u2019s reserves.\nB. Ensure that the premium charged corresponds with the risk involved.\nC. Ensure the re-insurance limits will not be exceeded.\nD. Ensure that the premium charge is fair to the policyowner. \nAnswer: B. The answer is \"Ensure that the premium charged corresponds with the risk involved\".\n\n\nC11/3.1.1\nQuestion: Which of the following is false with regard to insurers reviewing history of previous condition?\nA. Effect of a medical history on the proposer\u2019s general health.\nB. Complications that may develop later on.\nC. Possibility of a non recurrence.\nD. Normal progression of any impairment.\nAnswer: C. The answer is \"Possibility of a non recurrence\".\n\n\nC11/4.4\nQuestion: To get a better insight to insured\u2019s medical history, not available from medical examinations, underwriter request for:\nA. Agent\u2019s Statement\nB. Supplementary Questionnaires\nC. Medical Examination/Test\nD. Attending Physician Statement\nAnswer: D. The answer is \"Attending Physician Statement\".\n\n\nC12/5\nQuestion: \u201cPersonal Accident Policy\u201d means accident and health policy where accident and health benefits are paid out only:-\nA. In the event of an injury to, or disability of, the insured as a result of accident.\nB. On the death by accident of the insured.\nC. All of the above\nD. None of the above \nAnswer: C. The answer is \"All of the above\".\n\n\nC12/30\nQuestion: An A&H Insurance Intermediary shall have a reasonable basis for providing advice to the insured. This shall not apply to:\nA. Eldershield Policy\nB. Long Term Care Insurance\nC. Hospital Cash (Income) Insurance\nD. Disability Insurance\nAnswer: A. The answer is \"Eldershield Policy\".\n\n\nC13/App 13A(pg 241)\nQuestion: During the Pre- Sale Stage for Individual Business, it is compulsory to provide which document(s) to the client?\nA. \u201cKnow Your Client\u201d form.\nB. \u201cOur Advice & Reasons Why\u201d form.\nC. Product Summary\nD. Your Guide to Health Insurance and Product Summary. \nAnswer: D. The answer is \"Your Guide to Health Insurance and Product Summary.\""}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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When there is a face to face contact between the client and intermediary.\nB. Marketing through the use of a call centre.\nC. Road show conduct by intermediary\nD. Visit to client from referrals.\nAnswer: B. The answer is \"Marketing through the use of a call centre\".\n\n\nC13/App 13A (pg 263)\nQuestion: Under LIA Guidelines, which penalty constitutes the 3rd offence for non compliance by the Representatives for not having submitted the completed and signed Fact Find Form and \u201cOur Advice and Reason Why Form\u201d?\nA. Letter of warning\nB. Counseling\nC. Three months suspension\nD. Retraining on Health Insurance\nAnswer: A. The answer is \"Letter of warning\".\n\n\nC14/3.1(f)\nQuestion: What serves as a starting or reference point for the advisers to recommend further A & H insurance recommendations to their clients? \nA. Client\u2019s existing Health Insurance Policies\nB. Client\u2019s pay increase\nC. Client\u2019s promotion\nD. Client\u2019s affordability\nAnswer: A. The answer is \"Client\u2019s existing Health Insurance Policies\".\n\n\nC14/eg 14.3\nQuestion: Compute maintenance cost using TPD Method. Given: Monthly Income : $4000; Monthly Expenses :$2000; No of years income needed : 21; Expected rate of return : 5%; Inflation Rate : 2% ; Existing fund : $0\nA. $381,060\nB. $739,920\nC. $762,118\nD. $1,417,766\nAnswer: A. The answer is \"$381,060\". \nRationale is that,\n$2000 x 12 = $24,000 x 15.8775 (table A2; 3%; 21 years)\n = $381,060\n\n\nC14/4.2.4\nQuestion: Calculation of how much Critical Illness Insurance the client needs is more of an art than a science as there are many uncertainties. Which of these factors would be most important?\nA. Whether the client has the means to pay the premium.\nB. Need to know the client\u2019s family medical history to determine which disease the client is most susceptible.\nC. Obtain the latest attending physician statement as an indication of his current physical condition.\nD. Occupational risk classification of the client\nAnswer: B. The answer is \"Need to know the client\u2019s family medical history to determine which disease the client is most susceptible\".\n\n\nC15/2.1\nQuestion: Which of the following product is often associated with providing maintenance costs for a client?\nA. Disability Income Insurance\nB. Dread Disease\nC. Hospital Cash Insurance\nD. Managed Healthcare Insurance\nAnswer: A. The answer is \"Disability Income Insurance\".\n\n\nC1/5\nQuestion: The fundamental principle of Singapore healthcare financing is ____________.\nA. The 3\u2019s M. That is Medisave, Medishield, Medifund.\nB. Means Testing and Casemix.\nC. Individual Savings.\nD. Tax based subsidies and government subvention.\nAnswer: C. The answer is \"Individual Savings\".\n\n\nC1/5.2\nQuestion: Which of the following is not a feature of Casemix?\nA. Patients in the same class have similar clinical conditions.\nB. Patients in the same class generally cost the same amount to treat.\nC. There must be optimal number in each classes.\nD. Subsidies will be allocated to those patients accordingly.\nAnswer: D. The answer is \"Subsidies will be allocated to those patients accordingly\".\n\n\nC2/2.1.1(iii)\nQuestion: Which is included in Catastrophic Outpatient Treatment for Medical Expense Insurance? \nA. Outpatient Liver Charges\nB. Outpatient Heart Charges\nC. Outpatient Cancer charges\nD. Outpatient Tuberculosis Charges \nAnswer: C. The answer is \"Outpatient Cancer charges\".\n\n\nC2/1.1(a)\nQuestion: Which of the following is NOT covered under Daily Room and Board Charges in a Medical Expense Insurance?\nA. Accommodation\nB. Meals\nC. General Nursing Services\nD. Medicines and drugs \nAnswer: D. The answer is \"Medicines and drugs\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"1d177a9e-8df6-47b3-a0e6-9c78dc2d77c9\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"fdc1b319-aec2-4dcf-901b-5d76fc4ab58e\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"75c4c997abec3bd15708470505688188847c0d6764b2132a022993054d7d308e\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"089648eb-b707-4e2f-9499-55e07640c26a\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"ac7a0c112cf143e801474fb9faa6cb2c7dd719ddfbc7f5a7d64fc4ab2299ec85\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1323106, \"end_char_idx\": 1326501, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C2/3.3\nQuestion: If Mr Tan is enquiring about buying a policy for himself, his wife and 2 sons. Premium is as follows:\nHimself = $500\nHis wife = $700\n1 son = $300\nAfter considering he would like to cover only himself and his wife. How much family discount did he enjoy? \nA. $0\nB. $60\nC. $75\nD. $90\nAnswer: B. The answer is \"$60\". Rationale is that ($500 + $700) X 5% = $60.\n\n\nC2/3.5\nQuestion: Which of the following is Not part of expense participation?\nA. Deductibles.\nB. Co-insurance\nC. Pro- ration factor\nD. Co-ordination of benefits\nAnswer: D. The answer is \"Co-ordination of benefits\".\n\n\nC2/3.5.1\nQuestion: Mr. Tan and his family were injured while on holiday. They were covered under MEI, with a deductible of $3000 and a co-insurance of 10%. Determine the total amount payable to Mr.Tan, given hospital bills as follows:\nMr. Tan - $15,000\nMrs. Tan - $20,000\nSon - $2,500\nDaughter \u2013 $3,200\nA. $26,280\nB. $31,680\nC. $33,630\nD. $36,630 \nAnswer: A. The answer is \"$26,280\".\nRationale is that,\nMr. Tan : $15,000 - $3000 = $12,000 - $1,200 (coinsurance 10%) = $10,800\nMrs. Tan : $20,000 - $3000 = $17,000 - $1,700 (coinsurance 10%) = $15,300\nSon : cannot claim as expense is below deductible\nDaughter : $3,200 - $3000 = $200 - $20 (coinsurance 10%) = $180\nHence total payable = $10,800 + $15,300 + $180 = $26,280\n\n\nC2/6\nQuestion: Coverage on a life insured who is covered under Medical Expense Insurance will terminate when:\nA. The total amount of claims has reached the annual limit.\nB. When the insured attains the age of 80.\nC. When the insured enters full time military service.\nD. When the insured enters National Service Reservist Training.\nAnswer: C. The answer is \"When the insured enters full time military service\".\n\n\nC3/2\nQuestion: Which of the following is NOT a feature of Group Medical Insurance Policy?\nA. Policy continues after one employee makes a claim.\nB. All employees must undergo medical examination.\nC. There are many life insureds in one master contract.\nD. The policy covers all employees below the statutory retirement age. \nAnswer: B. The answer is \"All employees must undergo medical examination\".\n\n\nC3/3\nQuestion: Mr. Tan would like his wife to be included under his company\u2019s Group Medical Insurance Policy. What would the commencement date of cover for Mrs. Tan be?\nA. Anytime within 30 days after marriage.\nB. Anytime within 15 days after marriage.\nC. Anytime within the half year after marriage.\nD. Anytime as and when Mr. Tan apply for her to be included and cover approved by underwriting.\nAnswer: A. The answer is \"Anytime within 30 days after marriage\".\n\n\nC3/4.3\nQuestion: Coverage for which plan will expires at statutory retirement age? \nA. Medical Expense Insurance\nB. Private Shield Plans\nC. Portable Medical Benefit Scheme\nD. Transferable Medical Insurance Scheme\nAnswer: D. The answer is \"Transferable Medical Insurance Scheme\".\n\n\nC3/4.4\nQuestion: Employers providing their employees with a Shield Plan can claim how many percent of tax deduction on their employees\u2019 total remunerations? \nA. 1%\nB. 2%\nC. 3%\nD. 4%\nAnswer: B. The answer is \"2%\".\n\n\nC4/Table 4.1 \nQuestion: Which of the following is a characteristic of Disability Income Insurance? \nA. Maximum sum assured is based on the salary.\nB. Choice of deferred period.\nC. Partial disability is not covered.\nD. Incorporated into life policies. \nAnswer: B. The answer is \"Choice of deferred period\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"089648eb-b707-4e2f-9499-55e07640c26a\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"1d177a9e-8df6-47b3-a0e6-9c78dc2d77c9\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"afe7439d1b9b013ee3785c5e3b56b647af86ab5bf223c5f20c9f039a53787770\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"4948d865-3b98-4c16-98a6-76fca35c8143\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"a5e59e7a30fbff34a9f7a931d750608587b0513851ef6f6277d63c843d7c4584\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1326504, \"end_char_idx\": 1330295, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C4/Eg 4.3 \nQuestion: David has a monthly income of $6,000 and has bought a Disability Income policy at 75% of his monthly income with a 3% escalation benefit. He is disabled and made a claim successfully on 1-1-2000. What is the amount that he will receive on the 1-3-2001?\nA. $4,500\nB. $6,000\nC. $4,635\nD. $4,770\nAnswer: C. The answer is \"$4,635\".\nRationale is that,\n$6000 X 75% = $4500\n$4500 + (3% X $4500 ) = $4635\n\n\nC4/6.2.1\nQuestion: Which type of payment will not affect Disability Benefit Payout?\nA. Rental Income\nB. Salary from ex-employer\nC. Workman Compensation\nD. TPD benefits under Life Insurance Policies\nAnswer: D. The answer is \"TPD benefits under Life Insurance Policies\".\n\n\nC4/7\nQuestion: Which of the following is NOT a feature of a Disability Income Insurance policy?\nA. Premium based on age band.\nB. No surrender value.\nC. No assignment is allowed.\nD. Can be issued as a stand-alone.\nAnswer: A. The answer is \"Premium based on age band\".\n\n\nC5/3.1\nQuestion: Which of the following least describes Long Term Care Insurance payment?\nA. Monthly Basis\nB. Daily Basis\nC. Disability Based Basis\nD. Yearly Basis\nAnswer: D. The answer is \"Yearly Basis\".\n\n\nC5/3.2.1\nQuestion: Which factor is the most important factor affecting premium for LTCI Plans? \nA. Renewability\nB. Number of exclusions\nC. Number of Activities of Daily Living\nD. Insured\u2019s choice of distribution channels\nAnswer: C. The answer is \"Number of Activities of Daily Living\".\n\n\nC5/3.2.1b\nQuestion: Which of the following condition is covered by Long Term Care Insurance?\nA. Parkinson\u2019s disease\nB. Neurosis\nC. Psychiatric illness\nD. Dementia from Alzheimer\u2019s Disease\nAnswer: D. The answer is \"Dementia from Alzheimer\u2019s Disease\".\n\n\nC5/9\nQuestion: The following are exclusions under LTCI policies EXCEPT:\nA. All pre-existing conditions, which were not fully declared and described by the insured at the time of application.\nB. Alcoholism and drug abuse.\nC. Any form of Acquired Immune Deficiency Syndrome (AIDS) or infection by any Human Immunodeficiency Virus (HIV).\nD. Self inflicted injury.\nAnswer: C. The answer is \"Any form of Acquired Immune Deficiency Syndrome (AIDS) or infection by any Human Immunodeficiency Virus (HIV)\".\n\n\nC6/2.2\nQuestion: Which of the following is FALSE regarding Critical Illness riders?\nA. Critical Illness riders do not acquire cash value.\nB. It can also be issued as a Stand Alone Policy.\nC. Packaged Critical Illness Policies may accumulate cash value, hence have non-forfeiture options.\nD. There is no minimum and maximum sum assured restriction.\nAnswer: D. The answer is \"There is no minimum and maximum sum assured restriction\".\n\n\nC6/2.2&2.7\nQuestion: Critical Illness cover will be terminated:\nA. When the policyowner exercise paid up option under Non forfeiture option.\nB. When the policy is converted into an extended term insurance policy.\nC. When the insured is diagnosed with a critical illness.\nD. When an invalid critical illness claim has been made.\nAnswer: B. The answer is \"When the policy is converted into an extended term insurance policy\".\n\n\nC6/2.3.1\nQuestion: You are proposing a 50% Acceleration Dread Disease Policy to your client for his wife who is a homemaker. In this case, you should also propose to attach a\nA. Waiver of Premium Rider to the policy.\nB. Disability Income Insurance Rider to the policy.\nC. Dread Disease Waiver of Premium Rider to the policy.\nD. Total and Permanent Disability Benefit Rider to the policy.\nAnswer: C. The answer is \"Dread Disease Waiver of Premium Rider to the policy\".\n\n\nC6/2.3.1\nQuestion: Which of the following type of CI Cover you may not need to attached a Critical Illness Waiver of Premium Rider?\nA. Acceleration Type\nB. Additional Type\nC. Both types\nD. None of the types \nAnswer: A. The answer is \"Acceleration Type\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 4948d865-3b98-4c16-98a6-76fca35c8143
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Free death benefit\nB. Triple payment if hospitalized overseas due to accident\nC. Double payment if in Intensive Care Unit\nD. Get well benefit\nAnswer: A. The answer is \"Free death benefit\".\n\n\nC7/3\nQuestion: Which component of managed healthcare is not used to contain and control healthcare expenditure?\nA. Accessibility\nB. Cost\nC. Quality of Care\nD. Wide healthcare coverage\nAnswer: D. The answer is \"Accessibility\".\n\n\nC7/3.1\nQuestion: Primary care physician in Managed Healthcare Plan is NOT known as the following names:-\nA. Backbone of Managed Healthcare plans\nB. Gatekeepers\nC. Personal Physician\nD. Specialist \nAnswer: D. The answer is \"Specialist\".\n\n\nC7/4.1.5\nQuestion: Which of the following offers the broadest consumer choice of physicians and clinical settings?\nA. Staff Model\nB. Group Model\nC. Network Model\nD. Mixed Model HMO\nAnswer: D. The answer is \"Mixed Model HMO\".\n\n\nC7/4.2\nQuestion: What are Preferred Provider Organisations(PPOs)? \nA. PPOs are gatekeepers.\nB. PPOs allow clients to see specialist with referrals.\nC. PPOs require greater \u201cout of pocket\u201d payments from members.\nD. PPOs allow clients to choose to stay in the network or outside the network at point of service.\nAnswer: C. The answer is \"PPOs require greater \u201cout of pocket\u201d payments from members\".\n\n\nC8/2.1.1b\nQuestion: Which of the following regarding maternity charges is true of the Medisave Maternity Package?\nA. It allow members to use Medisave to pay for pre-delivery expenses and delivery expenses up to the 4th living child.\nB. It can be used to pay for pre-delivery expenses and delivery expenses up to the 5th and subsequent children.\nC. Only female CPF members can use their Medisave to pay.\nD. It allows for Assisted Conception Procedures to pay in full.\nAnswer: A. The answer is \"It allow members to use Medisave to pay for pre-delivery expenses and delivery expenses up to the 4th living child\".\n\n\nC8/2.1.4\nQuestion: Which of the following restrictions on use of Medisave is false?\nA. Current Medisave ceiling may not be sufficient to cover catastrophic illness.\nB. Covers limited outpatient treatments.\nC. Must be hospitalized for more than 6 hours.\nD. Covers only a maximum of 3 surgical operations\nAnswer: C. The answer is \"Must be hospitalized for more than 6 hours\".\n\n\nC8/2.2.1\nQuestion: MediShield has been enhanced in March 2013. Which of the enhancement(s) is/are True?\nA. Maximum coverage has been increased to 92 years.\nB. Policy year limit and lifetime limit has been increased to $70,000 to $300,000 respectively.\nC. Maximum age of 75 has been removed.\nD. All of the above. \nAnswer: D. The answer is \"All of the above\".\n\n\nC8/2.2.3\nQuestion: John drove to Malaysia in March. On his way back, the lights were too dim, he got into an accident. He was hospitalised for 8 days, and the hospitalisation fees is $12,000. 3 months later, John had food poisoning and was admitted for 2 days. His hospitalisation fee is $2,500. Calculate how much John receives from his policy.\nGiven:\nPolicy renewable every September\nPer disability /per year\nDeductible : $1500\nCo-insurance : $0-$3000 : 20%\n$3001- $5000 : 15%\nAbove $5001 : 10% \nA. $11,700\nB. $11,750\nC. $11,500\nD. $11,300\nAnswer: D. The answer is \"$11,300\".\nRationale is that,\nTotal expenses = $12,000 + $2,500 = $14,500\nLess deductible = ($1500)\nLess co-insurance = *($1700)\nClaimable = $11,300\n* Computation of Co insurance\n$0 - $3000 : $600 (20% x $3000)\n$3001- $5000 : $300 (15% x $2000)\nAbove $5001 : $800 (10% x 8000)\nTotal : $1700"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: a0a3dd5e-0f9b-4dcd-ad52-dda67777d517
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To help the poor pay for medical bills.\nB. To provide subsidies for the entire range of elderly and continuing care.\nC. Eldershield is too costly.\nD. To help those who cannot qualify for Eldershield Scheme due to their age or health reasons.\nAnswer: D. The answer is \"To help those who cannot qualify for Eldershield Scheme due to their age or health reasons\".\n\n\nC9/3\nQuestion: Which of the following are found in the Policy Schedule? \nA. Name, NRIC of Insured\nB. Name, NRIC of Beneficiary\nC. Claim procedures\nD. Insurer\u2019s contractual rights\nAnswer: A. The answer is \"Name, NRIC of Insured\".\n\n\nC9/5.8\nQuestion: The Renewal Provision in a Health Insurance Contract describes:\nA. Insurer\u2019s right to increase premium on policy.\nB. Insured\u2019s right to renew his policy under certain conditions.\nC. Circumstances which the insurer has the right to offer a change in plan.\nD. Insured\u2019s right to renew at certain dates.\nAnswer: A. The answer is \"Insurer\u2019s right to increase premium on policy\".\n\n\nC9/9\nQuestion: What are endorsements found in a Health Insurance Policy Contract?\nA. Promise to pay by insurer\nB. Restrict the scope of coverage\nC. Actively At Work\nD. Legal actions which insured can take against insurer\nAnswer: B. The answer is \"Restrict the scope of coverage\".\n\n\nC10/2.2\nQuestion: An increase in which of the following factor will NOT increase premium computation?\nA. Investment income\nB. Scope of benefits\nC. Insurer\u2019s expenses\nD. Medical inflation\nAnswer: A. The answer is \"Investment income\".\n\n\nC11/3.1.2\nQuestion: Medical Aspects of Underwriting requires the consideration of___________.\nA. Financial Factors\nB. Current Physical Condition\nC. Occupational Factors\nD. Age Factors\nAnswer: B. The answer is \"Current Physical Condition\".\n\n\nC11/3.4.2 \nQuestion: What is NOT an advantage of Moratorium Underwriting? \nA. Insured will have the certainty as to what is covered at the point of joining, rather than at claim.\nB. Insured need only provide basic information about himself.\nC. Need not disclose the details of medical history.\nD. Pre-existing conditions is covered after a few years, should it recur later, subject to conditions. \nAnswer: A. The answer is \"Insured will have the certainty as to what is covered at the point of joining, rather than at claim\".\n\n\nC11/4.4\nQuestion: An underwriter needs to know more about a client\u2019s medical history which the medical examination was not able to reveal. What form does he need?\nA. Agent\u2019s Statement\nB. Attending Physician\u2019s Statement\nC. Supplementary Questionnaires\nD. Fact Find Form \nAnswer: B. The answer is \"Attending Physician\u2019s Statement\".\n\n\nC12/15\nQuestion: An A&H Insurance Intermediary are required to disclose in writing to their clients before fact find stage: \nA. Potential conflict of interest\nB. His qualifications\nC. No. of times insurer receives claims\nD. Detrimental switch \nAnswer: A. The answer is \"Potential conflict of interest\".\n\n\nC12/52(h)\nQuestion: Which of these offences under MAS Notice 120 is not considered a criminal offence and does not attract any penalties?\nA. Failure to disclose the conditions under which payment of policy moneys will not be made to insured.\nB. Failure by the A&H representative to use only marketing materials that has been approved by the insurance intermediary.\nC. Documents given to the insured are kept up to date.\nD. Opinions expressed and facts are not differentiated.\nAnswer: C. The answer is \"Documents given to the insured are kept up to date\".\n\n\nC13/App 13A (pg 244)\nQuestion: For policies sold through direct marketing and telemarketing, insurer must ensure: \nA. A follow up letter to advise clients to read the Guide to Health Insurance and product summary which is enclosed.\nB. A follow up letter to advise clients to return the policy to them if they find it unsuitable.\nC. A follow up letter to advise clients to collect the Guide to Health Insurance and product summary from insurer.\nD. A follow up letter to advise clients that an adviser will call on them to deliver and explain the Guide to Health Insurance and product summary.\nAnswer: A. The answer is \"A follow up letter to advise clients to read the Guide to Health Insurance and product summary which is enclosed\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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Your Guide to Health Insurance\nD. Benefit Illustration\nAnswer: C. The answer is \"Your Guide to Health Insurance\".\n\n\nC13/App 13B(pg 276)\nQuestion: When recommending a Group A&H Policy, what must be given to the client before the client applies for the product?\nA. Group Insurance Fact Find Form.\nB. Your Guide to Health Insurance.\nC. Our Reasons and Why form.\nD. Product Summary.\nAnswer: A. The answer is \"Group Insurance Fact Find Form\".\n\n\nC14/3.3\nQuestion: Most group insurance is issued without medical examination as the risk for the insurer diminishes as the size of the group increases. This is known as _________________.\nA. The law of large numbers.\nB. Principle of Utmost Good Faith.\nC. Principle of Ordinary Good Faith.\nD. Principle of insurable interest.\nAnswer: A. The answer is \"The law of large numbers\".\n\n\nC14/Eg 14.3\nQuestion: Mr Tan has a monthly income and expenditure of $7,000 and $5,000 respectively. His son is currently 2 years old and he would like to provide for his son till age 25. Assuming that the interest rate is 5% and inflation is 2%, please calculate his maintenance cost.\nA. $ 406,486\nB. $1,016,214\nC. $1,076,130\nD. $1,422,700\nAnswer: B. The answer is \"$1,016,214\".\nRationale is that,\n$5000 x 12 = $60,000 x 16.9369 (table A2 \u2013 3%\u2019 23 yrs) = $1,016,214\n\n\nC14/4.1.1\nQuestion: Mr. Lim the prospective client does not have an emergency fund, you should:\nA. still recommend suitable products.\nB. ensure he ticks Type 1 of the application type.\nC. not recommend any policies as it may affect his ability to service the policies.\nD. recommend disability income insurance. \nAnswer: C. The answer is \"not recommend any policies as it may affect his ability to service the policies\".\n\n\nC15/2.1\nQuestion: Which of the following policy is MOST suitable for meeting the maintenance costs of a client?\nA. Personal Accident Policy (with medical expense benefit)\nB. Critical Illness Insurance\nC. Long Term Care Insurance\nD. Disability Income Insurance\nAnswer: D. The answer is \"Disability Income Insurance\".\n\n\nC1/3.1\nQuestion: Primary Care Partnership Scheme does not cover treatment for:\nA. Cancer Treatment\nB. Diabetes Mellitus\nC. Hypertension\nD. Lipid Disorders\nAnswer: A. The answer is \"Cancer Treatment\".\n\n\nC1/5.2\nQuestion: Which of the following is a Costing Mechanism to determine amount of subsidies to be given?\nA. Means Testing\nB. Casemix\nC. Universal Coverage\nD. Voluntary Welfare Organization\nAnswer: B. The answer is \"Casemix\".\n\n\nC2/2.2.3\nQuestion: Which of the following regarding Medical Expense Insurance is true?\nA. Only per policy year limits are stated.\nB. Miscarriage due to ectopic pregnancy is covered.\nC. Payment is on a per charged benefits basis.\nD. Policy will not cease if it reaches the lifetime limit.\nAnswer: B. The answer is \"Miscarriage due to ectopic pregnancy is covered.\"\n\n\nC2/2.2.8\nQuestion: Final Expenses Benefit in a Medical Expense Insurance covers:\nA. Death that occurs within a specified no. of days after leaving the hospital and is a result of the cause of the hospitalization.\nB. Death that occurs during hospitalization or within a specified no. of days after discharge from the hospital.\nC. The cost of medical evacuation of patients and repatriation of mortal remains.\nD. Death that occurs after a waiting period of 30 days, from the issue date or reinstatement date of the policy before any claim is payable\nAnswer: A. The answer is \"Death that occurs within a specified no. of days after leaving the hospital and is a result of the cause of the hospitalization\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 5205a1e4-4288-433b-9da8-8d33fa8e130b
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{"_node_content": "{\"id_\": \"5205a1e4-4288-433b-9da8-8d33fa8e130b\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"8fab0a00-b965-4102-85a7-a94411ca6211\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"4c93372fef43e916e4d796be1769fad07cb7b30c762d299457ac62abf561045b\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"67bbb7f9-6f1c-4b2d-bc63-5bc38a46d932\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"ff70339f7c3037589dddefd2794f7e6c05df9fb2428df199ca39bee13ceb3659\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1341942, \"end_char_idx\": 1345952, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C2/3.5.1\nQuestion: When one is required to pay a deductible regardless of the no. of claims made in a year, this type of deductible is known as:\nA. Per Annum Deductible\nB. Per Disability/Per Year Deductible\nC. Per Disability/ Per Claim Deductible\nD. Per Disability/Per Annum Deductible\nAnswer: C. The answer is \"Per Disability/ Per Claim Deductible\".\n\n\nC2/3.5.1\nQuestion: Mrs Lim has bought a Medical Expense Insurance with a deductible for $10,000 for 1st June 2012 to 31st May 2013. On 1st Sept 2012, she encountered an accident and the total claimable medical expenses were $3,000. In March 2013, she went for surgery to remove her womb and the medical costs were $8,000. How much can Mrs Lim claim, given that a per-disability/per claim deductible applies?\nA. $11,000\nB. $8,000\nC. $1,000\nD. $0\nAnswer: D. The answer is \"$0\".\n\n\nC2/3.5.1\nQuestion: Which is the most suitable plan type to recommend to a client who has financial constraint?\nA. with deductible\nB. with co-insurance\nC. both deductible and co-insurance\nD. no deductible and co-insurance\nAnswer: C. The answer is \"both deductible and co-insurance\".\n\n\nC2/3.12\nQuestion: All integrated Shield Policies are guaranteed renewable. Which of the following is Not True?\nA. Insurer cannot terminate the policy owing to poor claims experience.\nB. Insurer cannot terminate the policy owing to insured\u2019s poor health condition.\nC. Insurer cannot terminate the policy if policyowner continues to pay his premium till death occurs.\nD. Insurer cannot terminate the policy owing to insured\u2019s change in occupation.\nAnswer: C. The answer is \"Insurer cannot terminate the policy if policyowner continues to pay his premium till death occurs\".\n\n\nC3/2\nQuestion: Which of the following characteristics of group insurance describes multiple lives under one contract?\nA. Master contract\nB. Plan continuation\nC. Experience rating\nD. Minimal underwriting\nAnswer: A. The answer is \"Master contract\".\n\n\nC3/3.1\nQuestion: Which of the following must be disclosed to the participants for Group Voluntary A&H Policies? \nA. Premium is fully paid by the employer.\nB. They have a say in the type of coverage that they want.\nC. Contractual rights of the insurer.\nD. Duration of coverage is until age 62.\nAnswer: B. The answer is \"They have a say in the type of coverage that they want\".\n\n\nC3/3.2\nQuestion: Which of the following is the most important factor for the underwriter when underwriting Group Insurance?\nA. Gender & age.\nB. Health & financial status.\nC. Smoking habit and family history.\nD. Occupational risks.\nAnswer: A. The answer \"Gender & age\".\n\n\nC3/4.2.1 \nQuestion: Which of the following is NOT TRUE of the employer to qualify for Transferable Medical Insurance Scheme (TMIS)? \nA. Must have a group size of 11 or more employees.\nB. To take up a Group Medical Expense Insurance Plan.\nC. Insure at least 50% of its local employees.\nD. Pay 50% of the premium for the Group Medical Expense Insurance coverage.\nAnswer: D. The answer is \"Pay 50% of the premium for the Group Medical Expense Insurance coverage\".\n\n\nC4/5.1.3\nQuestion: Which of the following is most stringent in the definition of Total Disability under Disability Income Insurance? \nA. Own Occupation\nB. Any Occupation\nC. Modified Occupation\nD. Similar Occupation \nAnswer: B. The answer is \"Any Occupation\".\n\n\nC4/5.3\nQuestion: If an insured who has been receiving disability benefits under a Disability Income policy returns to work, but suffers a relapse within a specified period of time for the same cause, most insurers will: \nA. Waive the deferment period and benefit payments will recommence immediately.\nB. Waive the deferred period and benefit payments will be at least 25% lower as it is considered a partial disability.\nC. Treat it as a new claim, for the purpose of determining the duration of the benefit payment period.\nD. Treat it a new claim and subject insured to the waiting period again.\nAnswer: A. The answer is \"Waive the deferment period and benefit payments will recommence immediately\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 67bbb7f9-6f1c-4b2d-bc63-5bc38a46d932
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{"_node_content": "{\"id_\": \"67bbb7f9-6f1c-4b2d-bc63-5bc38a46d932\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"5205a1e4-4288-433b-9da8-8d33fa8e130b\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"f65a4aa83696503ea8cd980476c1256f94372511a34ce7d6c3cdc66ca835eb48\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"619ba26f-1620-4aa4-8d40-936a418af4d4\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"d720c78da4070db0a7a707471e22e98a3be12701a0eaf06eed089604c25adc99\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1345955, \"end_char_idx\": 1349425, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C4/6.2d\nQuestion: Mary, a lecturer bought a DI Policy, became disabled on 30/6/08. \nHer details as follows:\nSalary : $8000 per month ;\nHer expenses: $3000 per month;\nAnnual Escalation Benefit : 3% ;\n6 Month Deferred Period chosen.\nWhen will she received the first payment from the insurer and for how much? \nA. 1/1/2009 for $8000\nB. 1/1/2009 for $6000\nC. 31/12/2008 for $6180\nD. 31/12/2008 for $2250\nAnswer: B. The answer is \"1/1/2009 for $6000\".\nRationale is that,\nDeferred period 6 months from 30/6/08, hence payable on 1/1/09. Payments = $8000 x 75% = $6000\n\n\nC4/6.2d\nQuestion: Mary, a lecturer bought a DI Policy, became disabled on 30/6/08. \nHer details as follows:\nSalary : $8000 per month ;\nHer expenses: $3000 per month;\nAnnual Escalation Benefit : 3% ;\n6 Month Deferred Period chosen.\nWhen will the escalation benefit kicked in and how much will she get?\nA. 30/6/2009 for $8240\nB. 31/12/2008 for $5150\nC. 1/2/2009 for $6080\nD. 1/1/2010 for $6180 \nAnswer: D. The answer is \"1/1/2010 for $6180\".\nRationale is that,\nEscalation will be effective on the 2nd year ie 1.1.2010 at $6180 ($6000 + $6000 x3%)\n\n\nC4/6.2d\nQuestion: Mary, a lecturer bought a DI Policy, became disabled on 30/6/08. \nHer details as follows:\nSalary : $8000 per month ;\nHer expenses: $3000 per month;\nAnnual Escalation Benefit : 3% ;\n6 Month Deferred Period chosen.\nMary subsequently on 1/2/2010 found a job as a tutor which pays her $2000 a month. Calculate partial disability benefit payable on 1/2/2010\nA. $3,090\nB. $4,500\nC. $4,635\nD. $4,180\nAnswer: C. The answer is \"$4,635\".\nRationale is that, ($8000 - $2000)/$8000 x $6180 = $4635\n\n\nC5/3.2\nQuestion: Which of the following criteria for payment of Long Term Care Insurance Benefit is False?\nA. Need to be hospitalised.\nB. Need not be hospitalised.\nC. Use the benefits to pay for the cost of engaging a maid.\nD. Use the benefits to pay for costs of staying in a nursing home.\nAnswer: A. The answer is \"Need to be hospitalised\".\n\n\nC5/3.2.2\nQuestion: In Long Term Care insurance, the deferred period is defined as a period of time:\nA. after the insured is certified by a medical practitioner that he is unable to perform specified numbers of ADLs.\nB. from the inception of the policy or any reinstatement of the policy\nC. from the commencement date of the policy.\nD. from the time the insured is hospitalized.\nAnswer: A. The answer is \"after the insured is certified by a medical practitioner that he is unable to perform specified numbers of ADLs\".\n\n\nC5/4\nQuestion: When a person requires an assistive rehabilitation device, which of the following benefits available under a Long Term Care plan could provide it?\nA. Rehabilitation Benefit\nB. Extended Care Benefit\nC. Surgical and Prosthesis Device\nD. Financial Assistance with Adaptation\nAnswer: D. The answer is \"Financial Assistance with Adaptation\".\n\n\nC5/9\nQuestion: Which of these exclusions apply to Long term Care Insurance?\nA. All forms of AIDS.\nB. Participation in a felony, riot or insurrection.\nC. Flying other than a fare paying passenger.\nD. Convalescent & special nursing care, general medical checkup\nAnswer: B. The answer is \"Participation in a felony, riot or insurrection\".\n\n\nC6/2.3.1\nQuestion: 100% Acceleration Dread Disease Policy is MOST suitable for clients who:\nA. has dependents.\nB. has sufficient life insurance.\nC. disability income insurance.\nD. wish to stay in A class or B1 class wards when hospitalized.\nAnswer: B. The answer is \"has sufficient life insurance\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 619ba26f-1620-4aa4-8d40-936a418af4d4
encoding: FLOAT32
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The policy also has a Critical illness waiver of premium rider attached to it. After a dread disease claim by Mr Tan, which of the following statement(s) regarding the premium is most true?\nA. remain unchanged\nB. premium is waived for the full sum assured\nC. premium reduced in proportion to how the basic sum assured is reduced.\nD. premium will be reduced by 50%.\nAnswer: C. The answer is \"premium reduced in proportion to how the basic sum assured is reduced\".\n\n\nC6/5.5\nQuestion: Group Dental Care will terminate under which event?\nA. Insured enters full time military service.\nB. Insured exercises one of the non forfeiture options.\nC. Insured could claim from other sources like Workmen Compensation.\nD. Insured reaches age 60.\nAnswer: A. The answer is \"Insured enters full time military service\".\n\n\nC6/5.6\nQuestion: Which of the following is TRUE regarding claims on Group Dental Care?\nA. Insured can only use insurer panel of dentists.\nB. Insured have to make payment first and file a claim with insurer for reimbursement if he uses his own dentists.\nC. Insured has to make payment first whether or not he uses his own or insurer\u2019s panel of dentists.\nD. The dental clinic will bill the insurer directly for bills incurred.\nAnswer: B. The answer is \"Insured have to make payment first and file a claim with insurer for reimbursement if he uses his own dentists\".\n\n\nC7/3\nQuestion: How does Managed Healthcare Organizations control expenditure on healthcare?\nA. Controlling the premium charged to members.\nB. Enrolment fees for members.\nC. Implementing enrolment fees for non utilisation of services by members.\nD. Accessibility.\nAnswer: D. The answer is \"Accessibility\".\n\n\nC7/3.2\nQuestion: Which of the following is not a feature of the cost management of Managed Healthcare Organisations?\nA. Large member enrolment\nB. Consumer choices for healthcare services\nC. Negotiated Provider Fees\nD. Government subsidies on hospitals \nAnswer: D. The answer is \"Government subsidies on hospitals\".\n\n\nC7/4.14\nQuestion: Which one of the following models do the physicians actively continue to develop their own private practices?\nA. Staff Model HMO\nB. Group Model HMO\nC. Independent Practitioners Association (IPA) HMO\nD. Network Model HMO\nAnswer: C. The answer is \"Independent Practitioners Association (IPA) HMO\".\n\n\nC7/6.5\nQuestion: When making a claim under Managed Healthcare Insurance, the documents to be provided are :-\nA. original medical bill\nB. claimant's NRIC\nC. letter from employer\nD. letter from Attending Physician confirming the necessity of the treatment.\nAnswer: A. The answer is \"original medical bill\".\n\n\nC8/2.1.1(h)\nQuestion: To buy any of the approved products, such as Private Integrated Shield Plans using Medisave savings, which of the following is true? \nA. Premium is limited to $800 (per person per year) if the insured is below 65 years old.\nB. Premium is limited to $1,000 (per person per year) if the insured is below 65 years old.\nC. Premium is limited to $1,200 (per person per year) if the insured is above 65 years old.\nD. No withdrawal limit. \nAnswer: A. The answer is \"Premium is limited to $800 (per person per year) if the insured is below 65 years old\".\n\n\nC8/2.1.4\nQuestion: Which of the following is NOT true of restrictions imposed on Medisave? \nA. It covers unlimited outpatient treatments.\nB. Pays if hospitalised more than 8 hours.\nC. Covers maximum 3 surgical operations.\nD. Withdrawal limits imposed are usually not sufficient to cover the full hospital bills.\nAnswer: A. The answer is \"It covers unlimited outpatient treatments\".\n\n\nC8/3\nQuestion: The main difference between CPF MediShield Scheme and a Private Integrated Plan is:\nA. Both are administered by CPF Board.\nB. No expiry age for both.\nC. Annual limits and Lifetime limits are applicable for both\nD. Annual limits are applicable for both. \nAnswer: D. The answer is \"Annual limits are applicable for both\".\n\n\nC8/3.2\nQuestion: Which of the following is not for the poor and needy Singaporeans?\nA. Eldershield\nB. Elderfund\nC. Medifund\nD. Mediguard\nAnswer: A. The answer is \"Eldershield\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 0ebd7991-e77d-4c49-8dcf-293da910b27f
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{"_node_content": "{\"id_\": \"0ebd7991-e77d-4c49-8dcf-293da910b27f\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"619ba26f-1620-4aa4-8d40-936a418af4d4\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"d720c78da4070db0a7a707471e22e98a3be12701a0eaf06eed089604c25adc99\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"6c32bc30-026a-4d35-abf5-0d5035dcf7af\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"acfbd8ad3edc910e342a2d969564fb712896c42f8e65b3c819504f9fac95b3d4\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1353605, \"end_char_idx\": 1357530, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C8/3.2.6\nQuestion: Which of the following key features of Eldershield Schemes is/are FALSE?\nA. No surrender value\nB. 75 days grace period\nC. Has minimum and maximum entry age\nD. None of the above \nAnswer: D. The answer is \"None of the above\".\n\n\nC9/3\nQuestion: In a Health Insurance Policy Contract, what is included in Policy Schedule?\nA. Premiums and effective date of cover.\nB. Name and NRIC of Beneficiaries.\nC. Nature and objective of plan.\nD. Risks of the product.\nAnswer: A. The answer is \"Premiums and effective date of cover\".\n\n\nC9/5.8\nQuestion: The Renewal Provision describes:\nA. Insurer\u2019s right to renew the coverage.\nB. Insured\u2019s right to have his coverage renewed\nC. Insurer\u2019s right to decrease sum assured\nD. Insurer\u2019s right to cancel the coverage. \nAnswer: D. The answer is \"Insurer\u2019s right to cancel the coverage\".\n\n\nC9/8.3\nQuestion: Physical examination provision is included in Disability Income Polices to enable insurer to;\nA. have the insured examined by the insurer\u2019s doctor at the insured\u2019s expense.\nB. have the insured examined by the insured\u2019s doctor at the insurer\u2019s expense.\nC. have the insured examined by the insurer\u2019s doctor at the insurer\u2019s expense.\nD. have the insured examined by the insured\u2019s choice of doctors on a contributory basis\nAnswer: C. The answer is \"have the insured examined by the insurer\u2019s doctor at the insurer\u2019s expense\".\n\n\nC10/2\nQuestion: Which of the following key factors is NOT used in computing premium for Health Insurance Products?\nA. Investment Income\nB. Mode of Premium\nC. Operating expenses\nD. Occupation\nAnswer: D. The answer is \"Occupation\".\n\n\nC11/3.3.2\nQuestion: Underwriters look particularly for applicant\u2019s earning and overall financial situation in underwriting:\nA. Long Term Care Insurance\nB. Disability Income Insurance\nC. Critical Illness\nD. Managed Health Care\nAnswer: B. The answer is \"Disability Income Insurance\".\n\n\nC11/3.3.3\nQuestion: Cognitive assessment is normally required during the underwriting stage for which plan?\nA. Long Term Care Insurance.\nB. Basic Medical Expense Insurance.\nC. Eldershield.\nD. Disability Income Insurance. \nAnswer: A. The answer is \"Long Term Care Insurance\".\n\n\nC11/3.3.4\nQuestion: Which of the following factor is most important for underwriting Critical Illness Insurance?\nA. Family history.\nB. Overall financial condition.\nC. Cognitive impairment.\nD. Age and gender.\nAnswer: A. The answer is \"Family history\".\n\n\nC11/4.2\nQuestion: Agent\u2019s statement is needed to:\nA. Let underwriter knows why that product is recommended.\nB. Indicate applicant\u2019s approximate net worth.\nC. Clarify situations that is unquestionable.\nD. Indicate information that is important to the applicant.\nAnswer: B. The answer is \"Indicate applicant\u2019s approximate net worth\".\n\n\nC12/18\nQuestion: Which of the following is considered an offence and liable to a fine not exceeding $25,000 or imprisonment for a term not exceeding 12 months or both?\nA. Failure to comply with the \u201cKnow Your Client\u201d requirements.\nB. Failure to have a reasonable basis for providing advice.\nC. Failure to use marketing materials approved by the intermediary.\nD. Failure to provide and explain the benefit illustration or product summary to the insured.\nAnswer: D. The answer is \"Failure to provide and explain the benefit illustration or product summary to the insured\".\n\n\nC13/App 13A(pg 242)\nQuestion: What is not included under the Product Information Section in the LIA & GIA Guidelines on Disclosure Requirements?\nA. Benefits Schedule Table\nB. Premium rates\nC. Definition of activities of daily living\nD. Waiting period \nAnswer: D. The answer is \"Waiting period\".\n\n\nC13/13B(pg 259)\nQuestion: The requirement of using fact find form, LIA Guidelines on Needs- Based Sales Process for individual health insurance products does not apply to: \nA. Direct marketing\nB. Personal Accident Policy\nC. Eldershield\nD. All of the above \nAnswer: D. The answer is \"All of the above\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"6c32bc30-026a-4d35-abf5-0d5035dcf7af\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"0ebd7991-e77d-4c49-8dcf-293da910b27f\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"160a4690e745cdf9f53ca154bb98a7c2f918c51cc9b23ff8d6de72aa93006fe5\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"24fd4ce2-0651-4f31-96b9-38a0157aefae\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"4d3ab3e2944426841ed0d11106886c69be8f848a0d93ebc3735377ae83f6de81\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1357533, \"end_char_idx\": 1360882, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C13/App 13B(pg 260)\nQuestion: \u201cApplication Type 1\u201d in the Fact Find Form means: \nA. Full completion of the Fact Find Form and the client wishes to receive the representative\u2019s recommendation of product suitability.\nB. Partial completion of the Fact Find Form and the client wishes to receive the representative\u2019s recommendation of product suitability.\nC. It is the client responsibility to ensure product suitability.\nD. Client did not undergo any needs analysis.\nAnswer: A. The answer is \"Full completion of the Fact Find Form and the client wishes to receive the representative\u2019s recommendation of product suitability\".\n\n\nC14/3.1(f)\nQuestion: What is true of the minimum requirements when the client chooses Type 1, 2, or 3 of the Application Types in the Fact Find Form? \nA. Personal Information\nB. Recommendation\nC. Existing health polices\nD. Health conditions \nAnswer: A. The answer is \"Personal Information\".\n\n\nC14/Eg 14.3\nQuestion: Calculate Maintenance Cost given these assumptions:\nMonthly income needed = $1,500\nNo. of years income needed = 21\nRate of return = 5%\nInflation rate = 2%\nExisting Life Insurance = $150,000\nA. $350,139\nB. $285,795\nC. $135,794\nD. $87,705\nAnswer: C. The answer is \"$135,794\".\nRationale is that, \n$1500 X 12 = $18,000\n$18,000 X 15.8775 (table A2\u2013 21 yrs; 3%) = $$285,794\n$285,794 \u2013 $150,000 (life insurance )= $135,794\n\n\nC14/4.2.4\nQuestion: During need analysis, when recommending a Critical Illness Insurance, what must an advisor advise a client? \nA. Claims procedures.\nB. Underwriting considerations.\nC. Mode of Payment.\nD. Coverage\nAnswer: D. The answer is \"Coverage\".\n\n\nC15/2.2\nQuestion: Quantify the level of Medical Expense needed, given the following:\nBasic average medical expenses = $24,000\nBenefits paying under Group policy = $18,240\nAmount payable under Incomeshield Plan = $7,335\nA. $5,760\nB. $16,665\nC. $1,575\nD. No Shortage of medical expense protection\nAnswer: D. The answer is \"No Shortage of medical expense protection\".\nRationale is that, $24,000 \u2013 ($18,240 +$7335) = ($1,575); no shortage\n\n\nC 1/4\nQuestion: Voluntary Welfare Organisations does not refer to an organization that________________.\nA. provides healthcare services for the elderly.\nB. is driven by a strong spirit of volunteerism.\nC. is profit making.\nD. caters to those in need and helps disabled to be independent.\nAnswer: C. The answer is \"is profit making\".\n\n\nC1/5.1.1\nQuestion: Means Testing in public hospitals was introduced:\nA. To provide B2 and C class subsidies in a fair manner with the lower income group.\nB. To provide all Singaporeans who stays in hospital regardless of the ward class.\nC. To provide subsidies for specialist outpatient and polyclinic visits.\nD. As a cost allocation mechanism.\nAnswer: A. The answer is \"To provide B2 and C class subsidies in a fair manner with the lower income group\".\n\n\nC2/2.2\nQuestion: The other benefits provided by the insurers under Medical Expense Insurance include:\nA. Miscarriage Benefit\nB. Gamma Knife Charges\nC. Emergency Accidental Treatment\nD. Anesthetist\u2019s Fees\nAnswer: A. The answer is \"Miscarriage Benefit\".\n\n\nC2/2.2.1\nQuestion: Under Medical Expense Insurance, when the Insured Person is a recipient, Major Organ Transplant Benefit covers: \nA. Donor Costs\nB. Cost of Surgeries\nC. Acquisition of Organ\nD. Recipient Costs\nAnswer: B. The answer is \"Cost of Surgeries\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 24fd4ce2-0651-4f31-96b9-38a0157aefae
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He was warded for high fever in 1st Apr and incurred a bill of $1200 for a two day stay in the hospital. Four months later, he was treated in hospital due to a fracture of the leg and incurred a hospital bill of $2100. How much can Nelson claim from the insurer under per annum deductible?\nA. $100\nB. $1300\nC. $2000\nD. $3300\nAnswer: B. The answer is \"$1300\". Rationale is that, $1200 + $2100 - $2000 = $1,300.\n\n\nC2/3.9\nQuestion: Waiting Period is Not applicable for:\nA. Accidental Injury\nB. Sickness\nC. First year of coverage\nD. Disease \nAnswer: A. The answer is \"Accidental Injury\". \n\n\nC2/3.10\nQuestion: A waiting period protects _____________, by ensuring that individuals are not able to make claims shortly after joining and cancelling membership.\nA. members within the portfolio\nB. insured party\nC. insurer\nD. Insured and Insurer\nAnswer: A. The answer is \"members within the portfolio\".\n\n\nC2/3.13\nQuestion: Which of the following exclusions and limitations under Medical Expense Insurance is FALSE?\nA. To avoid the policyowner selecting against the insured.\nB. To make premium more affordable.\nC. To avoid policyowner receiving reimbursement twice and making a profit.\nD. To define more clearly the necessary medical care and treatment. \nAnswer: A. The answer is \"To avoid the policyowner selecting against the insured\".\n\n\nC3/3.1\nQuestion: Which type of Group Medical Expense Insurance Plans gives the employees some control over the plan?\nA. Voluntary Plan\nB. Compulsory Plan\nC. Compulsory Plan and Voluntary Plan\nD. None\nAnswer: A. The answer is \"Voluntary Plan\".\n\n\nC3/3.2\nQuestion: Which of the following factors are considered the most important to the underwriters in Individual Insurance underwriting?\nA. Eligibility\nB. Choice of plan\nC. Gender and age\nD. Health and financial status \nAnswer: D. The answer is \"Health and financial status\".\n\n\nC4/2 &8\nQuestion: Peter is covered with a Disability Income and has been receiving benefits. However, he recovered from his disability, \nA. the insurance cover will continue covering if Peter starts paying premium.\nB. policy will terminate as maximum limit of benefit reached.\nC. policy continues paying benefits to Peter.\nD. policy provides for a reduced benefit to be paid to Peter. \nAnswer: A. The answer is \"the insurance cover will continue covering if Peter starts paying premium\".\n\n\nC4/5.4 \nQuestion: Mr. Sim has requested for a Disability Income Policy with a short benefit period. Hence insurer will: \nA. Charge a lower premium.\nB. Charge a higher premium.\nC. Reduce the payouts.\nD. Increase the payouts. \nAnswer: A. The answer is \"Charge a lower premium\".\n\n\nC4/6.2.1\nQuestion: The disability benefit payable under a Disability Income policy will be reduced by the following sources of income:\nA. payments from other insurance against illness/ sickness.\nB. any gains from other insurance investment policies.\nC. any continuing salary derived by the insured from the occupation engaged immediately prior to disability.\nD. if the insured fails to pay any premiums due for the Disability Income policy.\nAnswer: C. The answer is \"any continuing salary derived by the insured from the occupation engaged immediately prior to disability\".\n\n\nC4/7,5/8\nQuestion: Disability Income is similar to Long Term Care in that:\nA. If insured recovers from the disability, payment will stop but policy will not be terminated if premiums are paid by the insured.\nB. Benefits are level throughout the policy period.\nC. They cover hospitalization charges.\nD. Available only to working adults with earned salary.\nAnswer: A. The answer is \"If insured recovers from the disability, payment will stop but policy will not be terminated if premiums are paid by the insured\".\n\n\nC4/9\nQuestion: Benefits under a Disability Income Insurance policy will cease upon occurrence of any of the following events: \nA. when the insured changes his occupation.\nB. when the benefit period expired.\nC. when the insured fails to pay his premiums due.\nD. when the insured changes from full-time employment to part-time employment.\nAnswer: B. The answer is \"when the benefit period expired\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 55e49ed7-7201-442c-85d1-0996f414c86f
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The group must have been formed for some purpose other than to obtain insurance.\nB. Underwriting of the group on the whole is based on gender and age.\nC. Premium is age related.\nD. The individual life insured\u2019s coverage stop when he leaves the group.\nAnswer: C. The answer is \"Premium is age related\".\n\n\nC3/4.2.2\nQuestion: How does the \u201ccontinuation benefits\u201d under the TMIS benefits the employee?\nA. To continue enjoying hospitalization coverage from the termination for 12 months.\nB. To enjoy automatic coverage under the New Employer Group Medical Expense Plan.\nC. Waiver of exclusion on pre existing medical conditions when joining his new employer.\nD. Enjoy a lower entitlement of either the new employer TMIS plan or prior employer TMIS plan. \nAnswer: A. The answer is \"To continue enjoying hospitalization coverage from the termination for 12 months.\".\n\n\nC5/4\nQuestion: What is Extended Care Benefit under Long Term Care Insurance? \nA. 2 times of the monthly benefit payable to assist the insured to perform an ADL.\nB. An extra monthly benefit given to the insured.\nC. To extend the payout period of Eldershield.\nD. To increase the monthly payment under Eldershield.\nAnswer: B. The answer is \"An extra monthly benefit given to the insured\".\n\n\nC5/4\nQuestion: In Long Term Care Insurance, Financial Assistance with Adaptation Benefit is:\nA. An extra specified amount paid daily.\nB. An extra monthly benefit.\nC. A specified amount, 2 times the monthly benefit.\nD. A specified sum more than the sum assured payable in special interval time.\nAnswer: C. The answer is \"A specified amount, 2 times the monthly benefit\".\n\n\nC5/7\nQuestion: The following features of LTCI are FALSE EXCEPT:\nA. Plans cover advanced dementia due to Acquired Immune Deficiency Syndrome.\nB. It can either be non-participating or participating, depending on the basic plan.\nC. Premiums are escalating based on age bands.\nD. Should the insured recover from his disability, payments will stop.\nAnswer: D. The answer is \"Should the insured recover from his disability, payments will stop\".\n\n\nC6/3.1.1\nQuestion: Which of the following is NOT a feature of Hospital Cash Insurance?\nA. Waiting period applies for illness and injury.\nB. Waiting period does not apply for injury.\nC. Benefit payments not affected by payments from other medical insurance policies.\nD. Mostly guaranteed renewable on a yearly basis. \nAnswer: A. The answer is \"Waiting period applies for illness and injury\".\n\n\nC6/3.1.1\nQuestion: Which of the following situation will be covered during the waiting period for a Hospital Cash Insurance Policy? \nA. Kidney failure\nB. Miscarriage\nC. Food poisoning\nD. None of the above\nAnswer: C. The answer is \"Food poisoning\".\n\n\nC6/5.3\nQuestion: Group Dental Insurance usually does NOT cover\nA. Scaling and polishing of teeth.\nB. Wisdom tooth extraction.\nC. Pre-existing dental conditions.\nD. Replacement of stolen dentures.\nAnswer: D. The answer is \"Replacement of stolen dentures\".\n\n\nC6/5.3\nQuestion: Which of the following does Group Dental Care insurance NOT cover?\nA. Pre-existing dental conditions.\nB. Medicine given.\nC. Wisdom tooth extraction.\nD. Scaling, polishing and root canal treatment.\nAnswer: B. The answer is \"Medicine given\".\n\n\nC6/4.3\nQuestion: Which of the following is provided under Emergency Medical Evacuation in the Medical Expense Benefits under Travel Insurance?\nA. Travel and accommodation expenses.\nB. Transportation of deceased insured\u2019s mortal remains to his country of origin.\nC. Hospital deposit guarantees.\nD. Covers the cost of moving insured to another place to seek treatment because of inadequate local medical services. \nAnswer: D. The answer is \"Covers the cost of moving insured to another place to seek treatment because of inadequate local medical services\".\n\n\nC7/4.1\nQuestion: Which of the following type is the most restrictive under Managed Healthcare Plans? \nA. Point of Service Plans\nB. Preferred Provider Organisations\nC. Health Maintenance Organisations\nD. Traditional Medical Expense Insurance\nAnswer: C. The answer is \"Health Maintenance Organisations\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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{"_node_content": "{\"id_\": \"d7902d02-10f0-495b-84ab-63b506e7deb3\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"55e49ed7-7201-442c-85d1-0996f414c86f\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"1e6d992c5a96fe2e63b2a221ee742f06dec7d3a95e9a5a690c56d3a7b536f1ce\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"a15c9451-18c3-408c-b1ff-c26b479e6354\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"e69a2d759970a2f31d02def3d03b13b3e57c44cdf5bbe9be6c95fe4a024e9a44\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1369309, \"end_char_idx\": 1373469, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C7\nQuestion: Which of the following is NOT true of Managed Healthcare Insurance?\nA. It excludes pre-existing conditions.\nB. Payments are reduced by reimbursements from Work Injury Compensation and other forms of insurance.\nC. Deductibles and Co-insurance do not apply in Managed Healthcare Insurance.\nD. Members have a choice of in-network or out-network providers.\nAnswer: C. The answer is \"Deductibles and Co-insurance do not apply in Managed Healthcare Insurance\".\n\n\nC7/6.2 \nQuestion: Deductibles and Co- Insurance are found in which kind of policy?\nA. Disability Income Insurance Policy\nB. Hospital Cash Income Policy\nC. Managed Healthcare Insurance\nD. Transferable Medical Insurance Scheme\nAnswer: C. The answer is \"Managed Healthcare Insurance\".\n\n\nC7/6.5\nQuestion: Which is true regarding claims procedure for Managed Healthcare?\nA. Members who use in network care are not required to file any claims with insurer.\nB. Members who use out of network providers are not required to file claims with insurer.\nC. Documents to be submitted to insurer is original bill and disability report.\nD. No need to inform insurer for both in network or out of network care. \nAnswer: A. The answer is \"Members who use in network care are not required to file any claims with insurer\".\n\n\nC8/2.2\nQuestion: Which of the following is not a feature of MediShield?\nA. Scheme will terminate if the per lifetime limit is reached.\nB. Meant to help pay for hospitalization at class B1 \u2013 C Class Wards.\nC. Subject to deductibles and co-insurance.\nD. Auto granted to Singaporeans and Permanent Residents.\nAnswer: B. The answer is \"Meant to help pay for hospitalization at class B1 \u2013 C Class Wards\".\n\n\nC8/2.2.2\nQuestion: How is MediShield Cover effected for Singaporeans and Permanent Residents?\nA. If their births are registered in Singapore on or after 1 Dec 2007.\nB. If they are under 21 years old as of 30 June 2010.\nC. If they get married or registered their marriage in Singapore.\nD. All of the above.\nAnswer: D. The answer is \"All of the above\".\n\n\nC8/3.1\nQuestion: Claiming under MediShield & Integrated Shield Plan is similar in that:\nA. Insured does not need to submit their claim to the insurer.\nB. Insured is required to sign forms in the hospital on admission.\nC. Hospital will claim from CPF Board on his behalf.\nD. Any outstanding amount not covered by MediShield can be settled by the insurers from the Integrated Shield Plan.\nAnswer: A. The answer is \"Insured does not need to submit their claim to the insurer\".\n\n\nC8/3.2\nQuestion: The purpose of Eldershield is to :\nA. provide long-term care protection to elderly Singaporeans in the event of severe disabilities.\nB. provide nursing care to elderly Singaporeans in their old age.\nC. provide for hospital expenses in the event of dread diseases.\nD. provide subsidies to families of elderly Singaporeans who require institutional care.\nAnswer: A. The answer is \"provide long-term care protection to elderly Singaporeans in the event of severe disabilities\".\n\n\nC8/3.2\nQuestion: Government has launched a new severe disability scheme where premiums can be paid from CPF member\u2019s Medisave. The Scheme is _________________. \nA. Medifund\nB. MediShield\nC. Eldershield\nD. Eldercare Fund \nAnswer: C. The answer is \"Eldershield\".\n\n\nC9/8.3\nQuestion: Physical examination provision is included in Disability Income Polices to enable insurer to;\nA. have the insured examined by the insurer\u2019s doctor at the insured\u2019s expense.\nB. have the insured examined by the insured\u2019s doctor at the insurer\u2019s expense.\nC. have the insured examined by the insurer\u2019s doctor at the insurer\u2019s expense.\nD. have the insured examined by the insured\u2019s choice of doctors on a contributory basis.\nAnswer: C. The answer is \"have the insured examined by the insurer\u2019s doctor at the insurer\u2019s expense.\"\n\n\nC9/4.2k\nQuestion: Which of the following least describes pre-existing condition?\nA. Of which the insured is not aware.\nB. In respect of which the insured showed symptoms.\nC. For which the insured received treatment or medical advice.\nD. Of which the insured should reasonably have been aware.\nAnswer: A. The answer is \"Of which the insured is not aware.\""}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: a15c9451-18c3-408c-b1ff-c26b479e6354
encoding: FLOAT32
metadata:
{"_node_content": "{\"id_\": \"a15c9451-18c3-408c-b1ff-c26b479e6354\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"d7902d02-10f0-495b-84ab-63b506e7deb3\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"c8f12efb531259c395bfdcf49213a538fa538638effe24f90ddab9978a4ff7eb\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"1838a981-2dd0-46e6-881f-b0978442d158\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"442776b36ff11d58d93fc0535591991f8747fed355248a33a5209de4642b200c\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1373472, \"end_char_idx\": 1377603, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C9/5.1 \nWhat is included in the \u201cEntire Contract Clause\u201d in a Health Insurance Contract? \nA. Policy Document and Proposal Form.\nB. Policy Document and Fact Find Form.\nC. Policy Document and Insuring clause.\nD. Policy Document and Schedule of Benefits.\nAnswer: A. The answer is \"Policy Document and Proposal Form\".\n\n\nC10/3.5\nThe following statement about parameters in pricing of Health insurance is true?\nA. Increase in proportion of females in a group will reduce the premiums.\nB. Increase in morbidity experience will reduce premiums.\nC. Increase in persistency will decrease premiums.\nD. Increase in participation rate will increase premiums.\nAnswer: C. The answer is \"Increase in persistency will decrease premiums\".\n\n\nC11/6.2.1\nModified Underwriting does not include:\nA. Charge extra premiums.\nB. Increase deductible on the policy.\nC. Reduce premium-paying.\nD. A longer deferred period. \nAnswer: C. The answer is \"Reduce premium-paying\".\n\n\nC11/3.3.3\nThe detection of any early cognitive impairment is essential when underwriting:\nA. Dread Disease Insurance.\nB. Disability Income Insurance.\nC. Long Term Care Insurance.\nD. Managed Healthcare Insurance.\nAnswer: C. The answer is \"Long Term Care Insurance\".\n\n\nC11/3.5.5\nIn group underwriting, over representation by a highly paid class could result in:\nA. Higher than average medical claim.\nB. Higher than desired rate of turnover.\nC. Higher budget for a better plan.\nD. Higher than average bonus payment.\nAnswer: A. The answer is \"Higher than average medical claim\".\n\n\nC11/6.2.1\nFor which of the following is \u2018extra premiums\u2019 NOT commonly used for sub-standard risks?\nA. Disability Income.\nB. Medical Expense Insurance.\nC. Long Term Care Insurance.\nD. Dread Disease Insurance.\nAnswer: B. The answer is \"Medical Expense Insurance\".\n\n\nC12/52(g)\nWhich of the following constitutes the Best Practice Standards on Information Disclosure and Provision Of Advice? \nA. Jargon should be avoided in order not to mislead clients.\nB. Information provided should be presented in plain language, easy for the insured and insurer to understand.\nC. Information provided must be sufficient to help the insured makes a right decision.\nD. Opinions must be unambiguously stated that it is a statement of opinion.\nAnswer: D. The answer is \"Opinions must be unambiguously stated that it is a statement of opinion\".\n\n\nC13/App 13A(pg 244)\nPost- sales disclosure, in the form of a \u201cfollow-up\u201d letter\u201d must be made by the insurer through telemarketing channels. This letter does not attempt to do: \nA. Advises the proposer to read the 2 compulsory documents.\nB. Highlights the \u201c14 day Free Look\u201d period.\nC. Highlights the 30 days grace period.\nD. Request proposer to return the enclosed pre-paid reply card to the insurer. \nAnswer: C. The answer is \"Highlights the 30 days grace period\".\n\n\nC13/App13A(pg 245)\nRegarding post-sale disclosure on modifications to the product information or key product provision, insurer must observe which of the following that is true?\nA. Give advance notice at least 14 days before modifications take effect.\nB. Only modified terms need to be shown.\nC. Obtain written acceptances of the modified terms.\nD. Print size of modified term should be smaller than the rest of the text on the notification letter.\nAnswer: C. The answer is \"Obtain written acceptances of the modified terms\".\n\n\nC13/App 13B(pg 262)\nUnder LIA Guidelines, insurer is required to intervene to rectify erroneous recommendations by its representatives during which period? \nA. Deferred Period\nB. Waiting Period\nC. Survival Period\nD. Free Look Period \nAnswer: D. The answer is \"Free Look Period\".\n\n\nC14/3.1(i)\nClient wants to replace existing Health Policy. The insurer should advise on which of the following? \nA. Client will get a discount on the new policy.\nB. Insurer should mention that the new policy will be considered a sub standard risk.\nC. Insurer should advise on the disadvantages of replacing health insurance policy.\nD. Client will enjoy the same conditions as the original policy. \nAnswer: C. The answer is \"Insurer should advise on the disadvantages of replacing health insurance policy\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 1838a981-2dd0-46e6-881f-b0978442d158
encoding: FLOAT32
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{"_node_content": "{\"id_\": \"1838a981-2dd0-46e6-881f-b0978442d158\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"a15c9451-18c3-408c-b1ff-c26b479e6354\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"e69a2d759970a2f31d02def3d03b13b3e57c44cdf5bbe9be6c95fe4a024e9a44\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"f20ec537-9d01-4f05-9e86-c20f31f9c4f7\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"2bdae622cf16b4da17a214b33c0184bec64985d372a18535cea4cdac5d5742d6\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1377606, \"end_char_idx\": 1381731, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "C14/Eg 14.3\nMr. Lim has recently bought Dread Disease Insurance. He is concerned about Mrs. Lim, who is a housewife, his son who is a newborn and their future daily expenses should anything happen to him. Given that his family\u2019s monthly expenses amount to $3,000, with existing inflation rate of 2% and investment return of 7%, how much would Mrs. Lim require in the event that Mr. Lim is not around, assuming number of years income needed is 21. \nA. $630,775\nB. $47,632\nC. $484,639\nD. $554,940\nAnswer: C. The answer is \"$484,639\".\n\n\nC14/7\nGenerally you should do a review with your existing clients under which of the following circumstances? \nA. At the birth of a child.\nB. Changes to CPF rulings.\nC. Launching of new products.\nD. All of above \nAnswer: D. The answer is \"All of above\".\n\n\nC15/3\nWhich of the following method is fairer in determining the sum assured for group health insurance?\nA. Employee\u2019s Salary X Performance Factor\nB. Employee\u2019s Salary X Standard Factor\nC. According to Rank\nD. Lower position; higher sum assured.\nAnswer: B. The answer is \"Employee\u2019s Salary X Standard Factor\".\n\nQuestion: Which is not a government healthcare philosophy? \nAnswer: The correct answer is \"To provide for the care of employees\".\n\nQuestion: Which of the following is TRUE on the similarity of Means Testing and Casemix?\nAnswer: The correct answer is \"Both are subsidies given by the government\".\n\nQuestion: Under Medical Expense Insurance, what is not included in Inpatient Expenses?\nAnswer: The correct answer is \"Emergency Accidental Treatment Charges is not included in Inpatient Expenses\".\n\nQuestion: Which of the following is covered under catastrophic outpatient expenses in Medical Expense\nInsurance Policy?\nAnswer: The correct answer is \"Outpatient kidney treatment charges\".\n\nQuestion: Miscarriage Benefit in a Medical Expense Policy provides for:\nAnswer: The correct answer is \"The reimbursement of medical expenses in an ectopic pregnancy\".\n\nQuestion: Mr. Lim is buying a policy for himself and his wife and 2 children of the same premium each. \nWhat is the premium payable given the following?\nMr. Ang\u2019s premium $182.31\nMrs. Ang\u2019s premium $227.89\n1 child\u2019s premium $102.50\nAnswer: The correct answer is \"The premium payable is $584.44\". Rationale is that ($182.31 + $227.89 + $102.5 + $102.5 )X 95% (enjoy family discount of 5%) = $584.44\n\nQuestion: Which of the following is NOT a characteristic of medical expense insurance?\nAnswer: The correct answer is \"Deductibles apply for all treatments\".\n\nQuestion: Which of the following statement is TRUE?\nAnswer: The correct answer is \"Per annum deductible includes a variety of covered sickness or injuries within a policy year\".\n\nQuestion: When the insured person is admitted to a ward higher than what he is entitled to under his existing plan, ___________is applied on the actual charges incurred and covered under the policy. It will cause actual benefits payable to be reduced. \nAnswer: The correct answer is \"Pro-ration factor\".\n\nQuestion: Which of the following characteristics of group insurance is important to the underwriter in determining the \u201cfeel\u201d of future claim experience? \nAnswer: The answer is \"Experience-rating, as it is usually underwritten based on past claims experience\".\n\nQuestion: Group Polices often have an \u201cactively at work\u201d clause. In order to be eligible for the cover, this clause requires:\nAnswer: The answer is \"The employee to be at work on the day the insurance coverage takes effect\".\n\nQuestion: Which of the key factor in Portable Medical Benefit Scheme is most correct?\nAnswer: The answer is \"Employees will be medically insured in between jobs\".\n\nQuestion: When an employee leaves his current company, medical benefits provided by his employer will automatically be terminated. Which of the following plans purchased by the employer will solve this problem?\nAnswer: The answer is \"Transferable Medical Insurance Scheme\".\n\nQuestion: Compute Disability Income Benefit. Given the following details:\nEscalation Benefit : 3%\nMonthly Income : $5000\nMonthly Expense : $3000\nNo of years : 30 years\nAnswer: The answer is \"$2,140,893\"."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: f20ec537-9d01-4f05-9e86-c20f31f9c4f7
encoding: FLOAT32
metadata:
{"_node_content": "{\"id_\": \"f20ec537-9d01-4f05-9e86-c20f31f9c4f7\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"1838a981-2dd0-46e6-881f-b0978442d158\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"442776b36ff11d58d93fc0535591991f8747fed355248a33a5209de4642b200c\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"234d0a31-e1c6-4e1b-be70-448f557c90d8\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"5890020e2d670576b2a051bdd1e2db15b077b116543dbaccb36ed38bb02dc509\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1381573, \"end_char_idx\": 1385813, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "Given the following details:\nEscalation Benefit : 3%\nMonthly Income : $5000\nMonthly Expense : $3000\nNo of years : 30 years\nAnswer: The answer is \"$2,140,893\". \nRationale is that:\n$5000 x 75% = $3750\n$3750 X 12 x *47.5754 = $2,140,893\n* 47.5754 (factor from Table A1 \u2013 3%; 30 years)\n\nQuestion: \u201cThe insured\u2019s inability to perform any gainful occupation or a similar occupation for which he is reasonably suited by reason of education, training or experience\u201d refers to: \nAnswer: The answer is \"Modified Own Occupation\".\n\nQuestion: Mr Tan, who is an accountant, used to earn $4,000 per month before he was disabled. After partial recovery from his disability, he found a suitable job as a clerk, which pays him $1,500 per month. What would Mr Tan\u2019s disability income benefit be?\nAnswer: The answer is \"$1,875 per month\". Rationale is that $4000 - $1500 / $4000 x $3000 = $1875.\n\nQuestion: Disability Income will not terminate when the insured________.\nAnswer: The answer is \"changes his occupation\".\n\nQuestion: Which of the following regarding Long Term Care Insurance (LTCI) is true?\nAnswer: The answer is \"It is not governed by the Over Insurance Provision Clause\".\n\nQuestion: Which of the following payment method is associated with LTCI benefits issued under \u201cService Based\u201d Policy ?\nAnswer: The answer is \"Indemnity Method\".\n\nQuestion: Which of the following is NOT an Activity of Daily Living?\nAnswer: The answer is \"Morbidity\".\n\nQuestion: In which area is Eldershield and Long Term Care Insurance different?\nAnswer: The answer is \"Free look Period\".\n\nQuestion: The insured must survive the survival period before the dread disease benefit becomes payable. The survival period is a period of time:\nAnswer: The answer is \"from the occurrence of a dread disease\".\n\nQuestion: Critical Illness cover will not terminate when :-\nAnswer: The answer is \"Policy owner exercises Paid Up Option under the non forfeiture options\".\n\nQuestion: Mr. X bought a $150,000 whole life type of Critical Illness Policy with 50% acceleration benefit. How much is payable to him upon diagnosis of cancer? \nAnswer: The answer is \"$75,000\".\n\nQuestion: Calculate the total maximum amount this Hospital Cash Income Insurance Policy will pay based on these policy details:\nDaily Benefit: $100\nMax of 180 days per hospitalization\nLifetime Limit: 1000 days\nHe was hospitalized for 185 days per hospitalization\nAnswer: The answer is \"$100,000\". Rationale is that Lifetime limit of 1000 days X $100 per day = $100,000.\n\nQuestion: Managed Healthcare Organisations work through which components to manage healthcare expenditure?\nAnswer: The answer is \"Quality of Care.\"\n\nQuestion: To control increasing medical costs, which of the following is not used by Managed Healthcare? \nAnswer: The answer is \"Profit Sharing\".\n\nQuestion: Which of the following MHC plans has the lowest degree of Cost Control?\nAnswer: The answer is \"Traditional Medical Expense Insurance\".\n\nQuestion: Which of the following is not a benefit of Managed HealthCare Plans?\nAnswer: The asnwer is \"Intensive Care\".\n\nQuestion: Which of the following medical expenses could not be used to pay from one\u2019s Medisave?\nAnswer: The answer is \"Grandparents (regardless of nationality)\".\n\nQuestion: Which of the following regarding Medisave and MediShield is true?\nAnswer: The answer is \"Medisave is a saving scheme and MediShield cover is granted automatically to Singaporeans when they became CPF members\".\n\nQuestion: Which of the following is not covered under Chronic Disease Management Programme?\nAnswer: The answer is \"Osteoporosis (brittle bones)\".\n\nQuestion: Miss Ang was hosptialised for 8 days. Her total hospital bill was $22,400. She was able to receive $11,000 from her company group Medical Expense Policy. She is now awaiting for the reimbursement from her own private medical insurance (PMI). Details of her hospital bill & PMI (no deductibles and co insurance) as follows: \n| Description | Hospital Bills | Amount covered under PMI |\n|---|---|---|\n| Room and board | S$300 x 8 = $2,400 | S$250 x 8 = $2,000 |\n| Surgery | S$20,000 | S$10,000 |\n| Total | $22,400 | S$12,000 |\nHow much is she able to claim from her PMI?\nAnswer: The answer is \"S$11,400\". Rationale is that $22400 - $11000 = $11,400."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
id: 234d0a31-e1c6-4e1b-be70-448f557c90d8
encoding: FLOAT32
metadata:
{"_node_content": "{\"id_\": \"234d0a31-e1c6-4e1b-be70-448f557c90d8\", \"embedding\": null, \"metadata\": {}, \"excluded_embed_metadata_keys\": [], \"excluded_llm_metadata_keys\": [], \"relationships\": {\"1\": {\"node_id\": \"fa2d9045-7b86-42b8-be24-f1750f5bd4a1\", \"node_type\": \"4\", \"metadata\": {}, \"hash\": \"59c4fda642f7a90fe0cffa1f7ef298e0f041e802b8044620af0ef6b6309b0c9d\", \"class_name\": \"RelatedNodeInfo\"}, \"2\": {\"node_id\": \"f20ec537-9d01-4f05-9e86-c20f31f9c4f7\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"2bdae622cf16b4da17a214b33c0184bec64985d372a18535cea4cdac5d5742d6\", \"class_name\": \"RelatedNodeInfo\"}, \"3\": {\"node_id\": \"11dd5106-4dd9-4e35-be5a-7d91dd70ab5b\", \"node_type\": \"1\", \"metadata\": {}, \"hash\": \"e1918cf98157a4f27fe485e2a9d826bd3de793a1bd4c0cda66ef35bbdac8fbb2\", \"class_name\": \"RelatedNodeInfo\"}}, \"text\": \"\", \"start_char_idx\": 1385735, \"end_char_idx\": 1390271, \"text_template\": \"{metadata_str}\\n\\n{content}\", \"metadata_template\": \"{key}: {value}\", \"metadata_seperator\": \"\\n\", \"class_name\": \"TextNode\"}", "_node_type": "TextNode", "document_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "ref_doc_id": "fa2d9045-7b86-42b8-be24-f1750f5bd4a1", "chroma:document": "Answer: The answer is \"S$11,400\". Rationale is that $22400 - $11000 = $11,400.\n\nQuestion: Jenny went to Johor Bahru and while on her way back to Singapore, she met with an accident on March 2008. She incurred a bill of $6,300. Policy came with a deductible of $1500 and a co-insurance as follows:\n$1000 - $3000 : 15%\n$3001 - $6000 : 20%\nHow much would the insurer have paid her?\nAnswer: The answer is \"$3,940\".\nRationale is that,\nTotal expenses = $6300\nLess deductible = ($1500)\nLess co-insurance = *($860)\nClaimable = $3940\n* Computation of Co insurance\n$1000 - $3000: $300 (15% x $2000)\n$3001- $6000 : $560 (20% x $2800)\nTotal : $860\n\nQuestion: Which of the following section in a Health Insurance Contract must the adviser goes through with the client to ensure no typographical error?\nAnswer: The answer is \"Policy Schedule\".\n\nQuestion: Which of the following sections in a Health Insurance Policy contract represents the \u201cfoundation\u201d of a Health Insurance Policy? \nAnswer: The answer is \"Insuring Clause & Definitions\".\n\nQuestion: Which clause states that the policy shall not be in-force, unless premium is paid to the company on or before the inception date of the policy?\nAnswer: The answer is \"Premium Warranty Clause\".\n\nQuestion: What is the key factor for Health Insurance Pricing?\nAnswer: The answer is \"Morbidity\".\n\nQuestion: The role of underwriting is important because it enables the underwriter to:\nAnswer: The answer is \"Ensure that the premium charged corresponds with the risk involved\".\n\nQuestion: Which of the following is false with regard to insurers reviewing history of previous condition?\nAnswer: The answer is \"Possibility of a non recurrence\".\n\nQuestion: To get a better insight to insured\u2019s medical history, not available from medical examinations, underwriter request for:\nAnswer: The answer is \"Attending Physician Statement\".\n\nQuestion: \u201cPersonal Accident Policy\u201d means accident and health policy where accident and health benefits are paid out only:-\nAnswer: When in the event of an injury to, or disability of, the insured as a result of accident. In addition, to be paid out on the death by accident of the insured.\n\nQuestion: An A&H Insurance Intermediary shall have a reasonable basis for providing advice to the insured. This shall not apply to:\nAnswer: The answer is \"Eldershield Policy\".\n\nQuestion: During the Pre- Sale Stage for Individual Business, it is compulsory to provide which document(s) to the client?\nAnswer: The answer is \"Your Guide to Health Insurance and Product Summary.\"\n\nQuestion: Application of the Guidelines to direct marketing and telemarketing channels apply to:\nAnswer: The answer is \"Marketing through the use of a call centre\".\n\nQuestion: Under LIA Guidelines, which penalty constitutes the 3rd offence for non compliance by the Representatives for not having submitted the completed and signed Fact Find Form and \u201cOur Advice and Reason Why Form\u201d?\nAnswer: The answer is \"Letter of warning\".\n\nQuestion: What serves as a starting or reference point for the advisers to recommend further A & H insurance recommendations to their clients? \nAnswer: The answer is \"Client\u2019s existing Health Insurance Policies\".\n\nQuestion: Compute maintenance cost using TPD Method. Given: Monthly Income : $4000; Monthly Expenses :$2000; No of years income needed : 21; Expected rate of return : 5%; Inflation Rate : 2% ; Existing fund : $0\nAnswer: The answer is \"$381,060\". \nRationale is that,\n$2000 x 12 = $24,000 x 15.8775 (table A2; 3%; 21 years)\n = $381,060\n\nQuestion: Calculation of how much Critical Illness Insurance the client needs is more of an art than a science as there are many uncertainties. Which of these factors would be most important?\nAnswer: The answer is \"Need to know the client\u2019s family medical history to determine which disease the client is most susceptible\".\n\nQuestion: Which of the following product is often associated with providing maintenance costs for a client?\nAnswer: The answer is \"Disability Income Insurance\".\n\nQuestion: The fundamental principle of Singapore healthcare financing is ____________.\nAnswer: The answer is \"Individual Savings\".\n\nQuestion: Which of the following is not a feature of Casemix?\nAnswer: The answer is \"Subsidies will be allocated to those patients accordingly\".\n\nQuestion: Which is included in Catastrophic Outpatient Treatment for Medical Expense Insurance? \nAnswer: The answer is \"Outpatient Cancer charges\".\n\nQuestion: Which of the following is NOT covered under Daily Room and Board Charges in a Medical Expense Insurance?"}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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Premium is as follows:\nHimself = $500\nHis wife = $700\n1 son = $300\nAfter considering he would like to cover only himself and his wife. How much family discount did he enjoy? \nAnswer: The answer is \"$60\". Rationale is that ($500 + $700) X 5% = $60.\n\nQuestion: Which of the following is Not part of expense participation?\nAnswer: The answer is \"Co-ordination of benefits\".\n\nQuestion: Mr. Tan and his family were injured while on holiday. They were covered under MEI, with a deductible of $3000 and a co-insurance of 10%. Determine the total amount payable to Mr.Tan, given hospital bills as follows:\nMr. Tan - $15,000\nMrs. Tan - $20,000\nSon - $2,500\nDaughter \u2013 $3,200\nAnswer: The answer is \"$26,280\".\nRationale is that,\nMr. Tan : $15,000 - $3000 = $12,000 - $1,200 (coinsurance 10%) = $10,800\nMrs. Tan : $20,000 - $3000 = $17,000 - $1,700 (coinsurance 10%) = $15,300\nSon : cannot claim as expense is below deductible\nDaughter : $3,200 - $3000 = $200 - $20 (coinsurance 10%) = $180\nHence total payable = $10,800 + $15,300 + $180 = $26,280\n\nQuestion: Coverage on a life insured who is covered under Medical Expense Insurance will terminate when:\nAnswer: The answer is \"When the insured enters full time military service\".\n\nQuestion: Which of the following is NOT a feature of Group Medical Insurance Policy?\nAnswer: The answer is \"All employees must undergo medical examination\".\n\nQuestion: Mr. Tan would like his wife to be included under his company\u2019s Group Medical Insurance Policy. What would the commencement date of cover for Mrs. Tan be?\nAnswer: The answer is \"Anytime within 30 days after marriage\".\n\nQuestion: Coverage for which plan will expires at statutory retirement age? \nAnswer: The answer is \"Transferable Medical Insurance Scheme\".\n\nQuestion: Employers providing their employees with a Shield Plan can claim how many percent of tax deduction on their employees\u2019 total remunerations? \nAnswer: The answer is \"2%\".\n\nQuestion: Which of the following is a characteristic of Disability Income Insurance? \nAnswer: The answer is \"Choice of deferred period\".\n\nQuestion: David has a monthly income of $6,000 and has bought a Disability Income policy at 75% of his monthly income with a 3% escalation benefit. He is disabled and made a claim successfully on 1-1-2000. What is the amount that he will receive on the 1-3-2001?\nAnswer: The answer is \"$4,635\".\nRationale is that,\n$6000 X 75% = $4500\n$4500 + (3% X $4500 ) = $4635\n\nQuestion: Which type of payment will not affect Disability Benefit Payout?\nAnswer: The answer is \"TPD benefits under Life Insurance Policies\".\n\nQuestion: Which of the following is NOT a feature of a Disability Income Insurance policy?\nAnswer: The answer is \"Premium based on age band\".\n\nQuestion: Which of the following least describes Long Term Care Insurance payment?\nAnswer: The answer is \"Yearly Basis\".\n\nQuestion: Which factor is the most important factor affecting premium for LTCI Plans? \nAnswer: The answer is \"Number of Activities of Daily Living\".\n\nQuestion: Which of the following condition is covered by Long Term Care Insurance?\nAnswer: The answer is \"Dementia from Alzheimer\u2019s Disease\".\n\nQuestion: The following are exclusions under LTCI policies EXCEPT:\nAnswer: The answer is \"Any form of Acquired Immune Deficiency Syndrome (AIDS) or infection by any Human Immunodeficiency Virus (HIV)\".\n\nQuestion: Which of the following is FALSE regarding Critical Illness riders?\nAnswer: The answer is \"There is no minimum and maximum sum assured restriction\".\n\nQuestion: Critical Illness cover will be terminated:\nAnswer: The answer is \"When the policy is converted into an extended term insurance policy\".\n\nQuestion: You are proposing a 50% Acceleration Dread Disease Policy to your client for his wife who is a homemaker."}


created_at: 2024-03-15 18:52:31
topic: persistent://default/default/71e17ef0-3bc9-4074-a848-f5d2cfa67ab5
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In this case, you should also propose to attach a\nAnswer: The answer is \"Dread Disease Waiver of Premium Rider to the policy\".\n\nQuestion: Which of the following type of CI Cover you may not need to attached a Critical Illness Waiver of Premium Rider?\nAnswer: The answer is \"Acceleration Type\".\n\nQuestion: Which of the following regarding Standalone Hospital Cash Insurance is false?\nAnswer: The answer is \"Free death benefit\".\n\nQuestion: Which component of managed healthcare is not used to contain and control healthcare expenditure?\nAnswer: The answer is \"Accessibility\".\n\nQuestion: Primary care physician in Managed Healthcare Plan is NOT known as the following names:-\nAnswer: The answer is \"Specialist\".\n\nQuestion: Which of the following offers the broadest consumer choice of physicians and clinical settings?\nAnswer: The answer is \"Mixed Model HMO\".\n\nQuestion: What are Preferred Provider Organisations(PPOs)? \nAnswer: The answer is \"PPOs require greater \u201cout of pocket\u201d payments from members\".\n\nQuestion: Which of the following regarding maternity charges is true of the Medisave Maternity Package?\nAnswer: The answer is \"It allow members to use Medisave to pay for pre-delivery expenses and delivery expenses up to the 4th living child\".\n\nQuestion: Which of the following restrictions on use of Medisave is false?\nAnswer: The answer is \"Must be hospitalized for more than 6 hours\".\n\nQuestion: MediShield has been enhanced in March 2013. Which of the enhancement(s) is/are True?\nAnswer: The enhancements are \"Maximum coverage has been increased to 92 years\", \"Policy year limit and lifetime limit has been increased to $70,000 to $300,000 respectively\" and \"Maximum age of 75 has been removed\".\n\nQuestion: John drove to Malaysia in March. On his way back, the lights were too dim, he got into an accident. He was hospitalised for 8 days, and the hospitalisation fees is $12,000. 3 months later, John had food poisoning and was admitted for 2 days. His hospitalisation fee is $2,500. Calculate how much John receives from his policy.\nGiven:\nPolicy renewable every September\nPer disability /per year\nDeductible : $1500\nCo-insurance : $0-$3000 : 20%\n$3001- $5000 : 15%\nAbove $5001 : 10% \nAnswer: The answer is \"$11,300\".\nRationale is that,\nTotal expenses = $12,000 + $2,500 = $14,500\nLess deductible = ($1500)\nLess co-insurance = *($1700)\nClaimable = $11,300\n* Computation of Co insurance\n$0 - $3000 : $600 (20% x $3000)\n$3001- $5000 : $300 (15% x $2000)\nAbove $5001 : $800 (10% x 8000)\nTotal : $1700\n\nQuestion: Interim Disability Assistance Program for the elderly came about:\nAnswer: The answer is \"To help those who cannot qualify for Eldershield Scheme due to their age or health reasons\".\n\nQuestion: Which of the following are found in the Policy Schedule? \nAnswer: The answer is \"Name, NRIC of Insured\".\n\nQuestion: The Renewal Provision in a Health Insurance Contract describes:\nAnswer: The answer is \"Insurer\u2019s right to increase premium on policy\".\n\nQuestion: What are endorsements found in a Health Insurance Policy Contract?\nAnswer: The answer is \"Restrict the scope of coverage\".\n\nQuestion: An increase in which of the following factor will NOT increase premium computation?\nAnswer: The answer is \"Investment income\".\n\nQuestion: Medical Aspects of Underwriting requires the consideration of___________.\nAnswer: The answer is \"Current Physical Condition\".\n\nQuestion: What is NOT an advantage of Moratorium Underwriting? \nAnswer: The answer is \"Insured will have the certainty as to what is covered at the point of joining, rather than at claim\".\n\nQuestion: An underwriter needs to know more about a client\u2019s medical history which the medical examination was not able to reveal. What form does he need?\nAnswer: The answer is \"Attending Physician\u2019s Statement\".\n\nQuestion: An A&H Insurance Intermediary are required to disclose in writing to their clients before fact find stage: \nAnswer: The answer is \"Potential conflict of interest\".\n\nQuestion: Which of these offences under MAS Notice 120 is not considered a criminal offence and does not attract any penalties?\nAnswer: The answer is \"Documents given to the insured are kept up to date\"."}


