How do I apply for insurance?
At CommissionsFreeInsurance, our own powerful and easy-to-use web portal allows you to be always in control of the decision-making process, knowing exactly what you are getting and why you need that.

• Step One: Select the profile you fit into the best. Read up on the explanations, facts and examples provided to guide you in making the right decisions. At any point in time when you have problems, you can call or e-mail our friendly client service consultant for help.
  
  
• Step Two: Once you have made your final selection, our powerful analysis tool will present to you the following:
  
  
  • estimated premium quotes for the selected insurance coverage
  • estimated amount of commissions to be rebated back to you
  • advisory fees to be paid to us
  • estimated savings you will enjoy (i.e commissions rebate less the advisory fee) If you are pleased with the potential savings, and more importantly the unbiased advice we can provide to you, you can proceed to notify us of your interest by a click of a button.
  
  
  
• Step Three: Our friendly consultant will contact you shortly to make an appointment to explain to you the terms and conditions* of engaging us. Upon engaging us, we will then start preparing the detailed recommendation report that will incorporate the most suitable product(s) to meet your needs. With your approval of the recommendations, we will then guide you in completing the application forms and help you to follow up on the applications till the policies are issued to you.

* In the terms and conditions, we will make full disclosure to you and establish the scope of advisory and administration work clearly. Our commitment to rebate the commissions to you in full will also be disclosed in writing.

Do I have to take a medical examination?
It depends on your health status, the amount of coverage required, the type of policy, and other risk factors assessed by the insurer(s). Each company will have its own requirements and may request that you go for a medical examination and/or test(s) before they accept your application. Most will pay for your medical examination while some will require you to pay for it.

How should I pay for the premiums?
As far as possible, you should choose the annual option. You would save money because of two reasons. Firstly, the premiums will be lower if paid annually, rather than semi-annually, quarterly or monthly. (The overall premiums increase with the increase in frequency.)

Secondly, whenever we receive the commission, the rebate will be made after taking away a small administrative charge. By doing on a monthly basis, there will be 12 administrative charges for a period of one year, which will significantly reduce the commissions rebate due to you. If you were to do it on an annual basis, there will only be one administrative charge for that year. Therefore by default, we shall assume you would take the annual payment option in all our quotes.

How long does it take to get an insurance policy? In most cases, it would take two to six weeks after your application is submitted to get the policy. This depends on the underwriting requirements, completeness and accuracy of information provided and payment.

Can I renew my policy?
All the policies we help to obtain for you are renewable throughout the term of the policy. Most importantly, it means that the coverage can be renewed (during the term duration) without you having to take another medical examination or re-apply, so you can continue your coverage even if there have been changes in your health status.

Do I have any coverage while I am waiting for my new policy?
Very often you do. Once your application, initial premium, and completed medical examination have been sent to the insurance company, you may be eligible for temporary conditional insurance while your policy is being approved. Terms and conditions vary from company to company, but are explained in detail on your insurance application.

Other questions

What does the term “guaranteed” mean?
“Guaranteed” can refer to two possibilities.

The first refers to the annual premium you pay on your policy. For example, a fully guaranteed 25-year term means that your premium is guaranteed to remain the same for a full 25 years as long as you continue to pay the premium. The insurance company cannot raise your premium for the length of the term.

The second refers to the ability to renew your policy. This is especially important for hospitalisation and surgical policies. As far as possible, you should take up hospitalisation and surgical policies that guarantee the renewability of your insurance. Even when your health condition turns bad, the insurance company cannot terminate your policy, but would still have to honour your desire to renew the insurance with them without any additional exclusions or unfavourable terms imposed.

Can I convert my term life policy to whole life insurance?
Some of the policies we offer have an option to convert term life policies to whole life policies. This option will provide some flexibility should your health status or insurance needs change after your original purchase. The conversion normally takes place without you having to take another medical examination or re-apply, no matter whether your health status has changed for the worse. Do read the terms in the policy as some have a deadline, after which it can no longer be converted.

As most convertibility options usually come with extra premium, except those that are already embedded into the policy, we usually recommend those without the option unless, of course, you desire so.

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