In the judgment recorded before Judicial Commissioner Liza Chan Sow Keng here on Monday , businesswoman Tan Siew Wei and Great Eastern Life Assurance Bhd achieved a full and final settlement in one of the two insurance policies she is claiming for.
She is suing the company to claim for RM500,000, which is the basic sum assured from the first life insurance policy, and another RM2mil, the basic sum assured from her second life insurance policy. In 2018, she signed up for a second policy with a RM2mil basic sum assured and a monthly premium of RM1,666.70 payable for 61 years.
She subsequently made insurance claims on critical illness from the defendant, as well as other insurance companies where she had bought life insurance policies.
Great Eastern no more great