I was referred to Mrs Koh and her family by Kathy, my secretary. Mrs Koh was an office administrator and had 2 sons age 18 and 13. The elder boy was studying in college. After evaluating a financial planning interview with Mrs Koh, she decided to purchase a savings policy from me. The sum assured was RM20,000 and she was not concerned about critical illnesses at that time. She reasoned with me that she was eating healthily, have no stress, and taking many multi-vitamins. I thank her for her purchase and offered to review her needs in the future.
A few weeks ago, Mr Koh called me to let me know that Mrs Koh was diagnosed with liver cancer stage 4. With the doctor's documents, I expedite Mrs Koh life insurance claim and a cheque of RM20,000 was sent to her.
Mrs Koh had since passed away. Today, I received a call from Mr Koh. I expressed my deepest condolences to him and asked how was he and the family. Mr Koh's eldest son had stopped college and was now looking for a part time job to support and care for the younger brother.
Mr Koh explained the reason of his call to me, that may he request for more money from the insurance company, as the RM20,000 was insufficient to repay the hospital bill, funeral expenses, and living expenses for the family.
I regrettably inform him, that the amount of sum assured purchased by Mrs Koh, was RM20,000 and there are no more payout by the insurance company.
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