Update on Matters
Matter:
- Subsidy of RM1000 to Replace Signboard by 31 December 2025
- Letter was sent to Company on 17/10/2025
- Company Management is considering our appeal to increase the subsidy for signage replacements.
- Decision will be made within a week or two.
- Meanwhile, GMs may proceed to replace the signage and the management will reimburse them later based on the quantum approved by Senior Management Team.
Matter:
- Mandatory Use of OCBC Bank for Crediting of Commission for New and Re-appointed Agents Effective 01/01/2026
- Letter was sent to Company on 17/10/2025 and pending for their response
Matter:
- Drastic Drop in Cash Bonus of GJA2 and Centennial Wonder policy from 01/11/2024
A GELFAAM Circular dated 13/03/2025 has been sent to all GELFAAM members via email/WhatsApp broadcast with updates on the above matters.
Please contact the GELFAAM National Secretariat for a copy if you did not receive it.
Email: gelfaam@gelfaam.com / WhatsApp: 03-92006400
Highlights of the Updates:
- 13/11/2024 Associations requesting Company for town hall meeting and to address several issues brought up by councils and members.
- 28/11/2024 Chief Appointed Actuary briefed Association that the investment returns on the pool fund of this policy was very much lower than declared in 12 years out of the past 19 years and adjustments were made in Terminal Bonus of these policies to cover the shortfall
- Association proposed that the Company issue further communication to policyholders a projection of the Internal Rate of Return (IRR) of the two affected policies which we understand that the IRR is roughly around 4.80% if policyholders maintain the policy from now until maturity.
- Company had agreed Association proposal during the meeting.
Matters with Outcomes
Matters:
- GELM Policy Exclusion Details and Plan Codes in ePartner
Outcomes:
- After several rounds of negotiations, policyholders’ exclusion details and Plan codes are finally available in ePartner!
- Please refer to Company’s circular CSD/4781/AUG2025/MA1 dated 20/08/2025 for full details.
Matters:
- GELM – Waiver of Manpower requirement for Half Quota Qualifiers above Age 60
Outcomes:
- After years of persistent negotiation and dedicated efforts by GELFAAM and GSMA, GELM has finally agreed to the Waiver of Manpower Requirement for Half Quota Qualifiers aged 60 and above.
- Refer GELM e-Circular dated 19/05/2025:
AD/4720/MAY2025/OEJ
2025 Elevation, Redesignation and Maintenance Guidelines – “D” Contract AD/4719/MAY2025/OEJ
2025 Elevation, Redesignation and Maintenance Guidelines – Builder Contract
Matters:
- GELM – Since April 2022 GELFAAM brought up the issues to the Product Department that our medical plans exclude communicable diseases required quarantine by law as opposed to some of our competitors does not exclude
- GELM – Since December 2022, GELFAAM highlighted the shortcoming of our medical plan which excludes Congenital Conditions & Cost of blood and plasma transfusion
Outcomes:
- GELFAAM has been proactive in addressing gaps in the company’s medical plans, which has now resulted in improved key features in the new SHP & SHPP launched in January 2025.
- Refer GELM e-Circular dated 01/01/2025: AD/4613/JAN2025/RGPS
Launch of New Medical Plans and Campaign in January 2025
More Achievements on Discussions refer GELFAAM’S ACHIEVEMENTS & IMPACT