There are probably many claims that are rejected in the course of these. So to avoid disappointment, off the top of my head, here’s what you should keep in mind:

• Read contract: what’s covered, what’s not, is there any minimum bill need to be charged before claim is valid, and some finer details.
• Most importantly, declare as much as you can any health issues when applying for insurance. Insurance payout may be voided if there are discrepancies. Then all of those premiums you’ve been paying will go down the drain.

Manulife Q1 Claims statistics

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Ali invested $100,000 in 2007. As he finally decides to see how’s his investment is doing, he realizes that he lost $40,000 in the unit trust DWS China Equity fund and now he is left with $60,000. After consulting his adviser, the adviser realizes that Ali still have $50,000 investible amount in his bank reserves and suggested Ali to top-up his current investment. “Why should I put in more money into this investment when it made me lose money?”, Ali questioned. The adviser did the math for him:

In order to recover his $40,000, DWS China Equity Fund has to yield 67% to bring up his $60,000 balance to $100,000.

If Ali adds $50,000 to his investment, his new balance will $110,000. His total invested amount is now $150,000. Still $40,000 short, but mathematics later reveal that DWS China Equity Fund has only need to yield 37% to gain his $40,000!

Would it be easier to yield 67% or 37%? The answer is obvious. What if instead of adding $50,000, he adds $100,000 to his current balance instead?

The DWS China Equity fund would only need to yield 25%! Ali would get back his $40,000 much faster than before!