All About Health Insurance

A healthy body is most important for any child or adult. Discuss all issues related to health in this forum.
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Estéema
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Re: All About Health Insurance

Post by Estéema » Thu May 09, 2019 2:15 pm

NTUC Income Integrated Shield Plan (ISP) is not as expensive lah. When our kids are capable of earning an income, they shld pay for their own health premiums. Don’t think too far lah.

We bought ISP for both PIL 8 years ago. FIL just started dialysis & each month costs >$2K. Now whole family u’stood why we pay for it as it reduces our financial burden. Imagine in one year, all the 8 years premium will be recovered!


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ngl2010
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Re: All About Health Insurance

Post by ngl2010 » Thu May 09, 2019 2:36 pm

Estéema wrote:
Thu May 09, 2019 2:15 pm
NTUC Income Integrated Shield Plan (ISP) is not as expensive lah. When our kids are capable of earning an income, they shld pay for their own health premiums. Don’t think too far lah.

We bought ISP for both PIL 8 years ago. FIL just started dialysis & each month costs >$2K. Now whole family u’stood why we pay for it as it reduces our financial burden. Imagine in one year, all the 8 years premium will be recovered!


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NTUC Income was competitive when Tan Kin Lian was at the helm. Now they are not as competitive. I compared all the 7 ISP providers and NTUC Income is about $20k more expensive than 2 other companies.

Of course DS will pay his own insurance premiums when he starts to work, which is next year when he got into NS. But insurance premium of $115-161k is a lot as there is no cash value in it. Your FIL's case is different since you only bought him ISP 8 years ago and he is having dialysis now so ISP is worth it.

Maybe I will advise him to buy coverage for private hospital now. It is easier to downgrade the coverage than to upgrade the coverage. But the decision is his because he will be the one that is paying.

MyPillow
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Re: All About Health Insurance

Post by MyPillow » Thu May 09, 2019 3:31 pm

my whole family - private /preferred choice fr INCOME
the last i checked against big ones aia, axa, pru - income was cheaper,
which company is lower now ?

yes to downgrade is easier, income did ask qn when we wanted to upgrade - our thinking is since we can afford to pay for private now, we would do so -as this is our prime period, high commitment to support family . my seniors buy the lowest coz they think are OLD , no need expensive care, willing to stay C ward - if anything not well, they want to live naturally , dun wish to drag , so be it as that's life, to end naturally in whatever illness or no illness

ngl2010
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Re: All About Health Insurance

Post by ngl2010 » Thu May 09, 2019 6:56 pm

MyPillow wrote:
Thu May 09, 2019 3:31 pm
my whole family - private /preferred choice fr INCOME
the last i checked against big ones aia, axa, pru - income was cheaper,
which company is lower now ?

yes to downgrade is easier, income did ask qn when we wanted to upgrade - our thinking is since we can afford to pay for private now, we would do so -as this is our prime period, high commitment to support family . my seniors buy the lowest coz they think are OLD , no need expensive care, willing to stay C ward - if anything not well, they want to live naturally , dun wish to drag , so be it as that's life, to end naturally in whatever illness or no illness
Cheapest now is AXA and Raffles Health Insurance.

What questions did Income ask when you wanted to upgrade? Did they send you for health check?

MyPillow
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Re: All About Health Insurance

Post by MyPillow » Fri May 10, 2019 10:24 am

ngl2010 wrote:
Thu May 09, 2019 6:56 pm
MyPillow wrote:
Thu May 09, 2019 3:31 pm
my whole family - private /preferred choice fr INCOME
the last i checked against big ones aia, axa, pru - income was cheaper,
which company is lower now ?

yes to downgrade is easier, income did ask qn when we wanted to upgrade - our thinking is since we can afford to pay for private now, we would do so -as this is our prime period, high commitment to support family . my seniors buy the lowest coz they think are OLD , no need expensive care, willing to stay C ward - if anything not well, they want to live naturally , dun wish to drag , so be it as that's life, to end naturally in whatever illness or no illness
Cheapest now is AXA and Raffles Health Insurance.

What questions did Income ask when you wanted to upgrade? Did they send you for health check?
i thought AXA used to be expensive ..
is Raffles Health insurance fr Raffles hospital Grp?

vaguely, i think my ntuc agent came to visit us & needed us to declare out health status - sign new doc etc
As there was a claim on personal accident, income also need us to submit a hospital discharge letter to prove that there is no further follow up fr the accident


Estéema
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Re: All About Health Insurance

Post by Estéema » Fri May 10, 2019 12:54 pm

I’m also particular abt claim experiences.

So far in the insurance mkt AIA & NTUC hv good reputation for quick pymt. FIL’s Claims has been coming in fr NTUC since his numerous hospitalization & now we found we can file our travel claims online - just scan & submit receipts. Simple & save me time fr over counter claims. I’ve know Prudebtial has been the costliest in the mkt.

AfterClaz
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Re: All About Health Insurance

Post by AfterClaz » Thu May 16, 2019 4:06 pm

I recently received the renewals of my private shield plans from Aviva (hubby + 2 kids under Aviva, mine + 1 kid under NTUC) and got a rude shock, premiums have increased almost 100% to >$1000+ cash outlay for the full rider. And hubby is only in his mid-30s, so I checked out the alternatives.

If comparing full riders (ie zero outlay, I believe it'd be 5% co-payment from Apr 1 2021 onwards for new plans incepted after Mar 2018), NTUC is actually more affordable than AXA.

Personally, I've been with NTUC since 2006 and I've made several claims ranging from $2k to $9k and the claims experience has always been very pleasant. The admin staff are always very compassionate and kind throughout the years.

My dad is also covered under Aviva and he had a triple-bypass which amounted to about $30k at SGH. It was fully covered with $10k extra cash benefit for serious illness. I've also claimed a $4k bill from Aviva at TMC before for my younger son but the claims were slower and service was non-existent. Although I had the full rider plan, some items were omitted, oh well I guess for kids it's a little different?

In a nutshell, I switched all our plans over to NTUC Income cos it's cheaper than AXA for the full rider plans, and I've very good experience with them so far. Can't comment on AXA's claims as I've never purchased their plans, so doesn't make sense to get from them since I've not experience with them.

Although I've claimed from both NTUC and Aviva, the current premiums at Aviva are simply prohibitive. Hope this helps!

Estéema
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Re: All About Health Insurance

Post by Estéema » Thu May 16, 2019 5:08 pm

Wow! Thanks for sharing. Confirms our u’stand’g that NTUC Income has always been affordable & best is most items are claimed “As Charged” except deductible on anniversary of policy & 10% co-pymt. NTUC Income has always been my choice altho I bought some policies in my younger days. Can’t change anymore bcoz as we age, we hv pre-existing conditions.

AfterClaz
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Re: All About Health Insurance

Post by AfterClaz » Fri May 17, 2019 5:00 pm

Yup in fact I recently did a claim with NTUC for endoscopy (day surgery) at SGH and they actually auto-file for me. I only submitted the outpatient receipts for scans etc. Just have to make a trip to their admin office in the hospital itself and they'd do everything on our behalf. Again, I can't speak for other insurers but NTUC is definitely solid in terms of value for money + service + claims.

Poppypie
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Re: All About Health Insurance

Post by Poppypie » Wed May 29, 2019 12:38 am

Is there a need to buy health insurance now? Since the government is making it compulsory to buy insurance from them.

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