FAQ Claims

1.
What supporting documents does ACE require for claim consideration?

We require different documentation depending on the type of products.  For further details, please refer to “How to Make a Claim”.

2.
How can I know that ACE received my claim submission?

ACE will acknowledge receipt of all newly reported losses within 5 working days.  Along with the acknowledgment, we will advise you of the name and telephone/extension number of the person handling the claim.  Where necessary, we will also ask for any missing claims documentation.

3.
How long does ACE take to make a claim payment?

Upon receipt of the completed claim documentation, the eligible claim payments will be transferred to the beneficiary’s bank account within 15 working days.  We will explain why certain items of the claims have not been accepted as claimable, if applicable.

4.
Why does ACE need to request medical records in case of Accident and Health claims?

In cases where the policyholder has held the Policy with us for less than one year and was treated in hospital for any chronic disease/illness (e.g. hypertension, heart disease, tumor, gallstones, etc.), we need to check if the policyholder has been treated with that chronic disease before the Policy's effective date, since pre-existing conditions are excluded under the Policy.

5.
In the case of hospitalization under social security scheme, is the Policy-holder still entitled to a claim for daily benefit and what documents does ACE require in the absence of a medical receipt?

The Insured is entitled to claim for daily benefit from ACE by submitting the following documentation:

  • Completed claim form
  • Medical Certificate stating details of sickness or Injury due to accident and number of hospitalization days.
  • Relevant documents as mentioned in "How to make a claim"

 

6.
In the event that the Insured ‘s medical expenses have been paid by another insurance program and was partially reimbursed, how can the Insured claim the balance from ACE?

The policyholder must ask the other company(ies) to certify the amount being paid in the medical receipts, together with their stamp, and then send the certified medical receipt to ACE for further consideration.

7.
In the event of a death claim, with the Policy-holder having more than one Policy, will the beneficiary get the indemnity from every Policy?

If the cause of death is covered under the Policies, the beneficiary is entitled to the claim payments from every Policy.

8.
What is ACE's method of claim payment?

We will issue the settlement notice to the policyholder, following the address as stated in the claim form. A bank transfer will be made to bank account provided by the Insured. In case that the cash settlement is required, the claimant can receive cash at Dong A Bank's counters nearby his/her domicile.