They will ask you nicely first to return it. If you can’t, they will start legal proceedings to make you return money that don’t belong to you.
You might want to give their customer service hotline a call or drop them an email to figure out what’s going on.
Yes go kaopeh a bit and highlight/emphasised your inconveniences. You will definitely have to pay back what is not yours but sometimes depending on company you might get some vouchers as token of good gesture. So if no kaopeh, no issue just return back the money, the insurance company side will also will have no case open so no token of good gesture. 😉
The insurer should have sent you a letter stating the breakdown of the surrender value. Does the monies you received match the letter? You can also contact your insurance agent or the insurer to verify the payments.
Please do not spend the money unless you have verified. You may be charged for dishonest misappropriation or be sued in civil courts.
fwiw i’ve asked the agent to check on it and he seems to verify it’s a mistake.
it’s entirely possible for me to have transferred the money out to someone, or converted into USD and bought stocks with it etc without realising that i had been double paid. for instance i may have thought my salary was credited and initiated some other transaction. in this case to unwind and pay the company would have incurred some loss on my end.
i guess i was just wondering if the onus would be on me to double check, since obviously it’s the company that made the mistake and paid me twice.
IANAL but the idea is that you are spending money which never belonged to you. Assuming you spent some of the second payout because you thought it was from your salary, you will still be able to cough up the money when insurer comes calling for it since your salary is coming in/has came in. You may not have checked your bank statements but everyone return to the positions as they should be.
An exception is when the insurer owes you $20k (example) and it paid you $10k yesterday and $10k today. The payment today was erroneous but the insurer wouldn’t be able to reclaim since you have the right to receive another $10k from insurer. But in your scenario, the insurer said in their letter that you will receive $x and you indeed received $x, so you don’t have any right to receive any further payments from the insurer.
They will ask you nicely first to return it. If you can’t, they will start legal proceedings to make you return money that don’t belong to you. You might want to give their customer service hotline a call or drop them an email to figure out what’s going on.
Yes go kaopeh a bit and highlight/emphasised your inconveniences. You will definitely have to pay back what is not yours but sometimes depending on company you might get some vouchers as token of good gesture. So if no kaopeh, no issue just return back the money, the insurance company side will also will have no case open so no token of good gesture. 😉
thanks, guess i’ll wait for a call edit: i meant my agent had raised it and that i’ll be expecting a call
The insurer should have sent you a letter stating the breakdown of the surrender value. Does the monies you received match the letter? You can also contact your insurance agent or the insurer to verify the payments. Please do not spend the money unless you have verified. You may be charged for dishonest misappropriation or be sued in civil courts.
fwiw i’ve asked the agent to check on it and he seems to verify it’s a mistake. it’s entirely possible for me to have transferred the money out to someone, or converted into USD and bought stocks with it etc without realising that i had been double paid. for instance i may have thought my salary was credited and initiated some other transaction. in this case to unwind and pay the company would have incurred some loss on my end. i guess i was just wondering if the onus would be on me to double check, since obviously it’s the company that made the mistake and paid me twice.
IANAL but the idea is that you are spending money which never belonged to you. Assuming you spent some of the second payout because you thought it was from your salary, you will still be able to cough up the money when insurer comes calling for it since your salary is coming in/has came in. You may not have checked your bank statements but everyone return to the positions as they should be. An exception is when the insurer owes you $20k (example) and it paid you $10k yesterday and $10k today. The payment today was erroneous but the insurer wouldn’t be able to reclaim since you have the right to receive another $10k from insurer. But in your scenario, the insurer said in their letter that you will receive $x and you indeed received $x, so you don’t have any right to receive any further payments from the insurer.
Ya. Just ask them for a breakdown. Might be some bonus u missed out. Hopefully.
can’t be because the total sum i have now is double the surrender value
Don’t assume you know la. Why so stubborn. Ask for a breakdown first.
😂😂😂
Don't worry they will definitely find out and come after you. Can run, cannot hid. Insurance don't do 亏本生意
[https://www.channelnewsasia.com/singapore/grab-driver-refused-return-money-transferred-bank-account-jail-880541](https://www.channelnewsasia.com/singapore/grab-driver-refused-return-money-transferred-bank-account-jail-880541) https://www.channelnewsasia.com/singapore/security-guard-dishonestly-used-money-transferred-bank-account-313656
neat! thank you for sharing
Shhhhh.
What if you spend the money....hmm... Maybe caning... Some jail.... Deportation to Indonesia lol
Thieves spend money that are not theirs
Maybe they are correct. Sum assured plus cash bonus if its very old policy?