Hospital Insurance

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

Hospital Insurance

Postby Elena » Tue Apr 05, 2011 12:22 pm

Hi there,
Can anyone please give me some ideas of any hospital Insurance for kids that's not too overly expensive. :D

Elena
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Postby Vevey » Tue Apr 05, 2011 5:05 pm

Ours r from Income.
Claiming is painless & quite fast.

Vevey
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Postby Guest » Tue Apr 05, 2011 5:16 pm

Aviva has free coverage for kids under 20 if both parents are covered under their Plan 1 or 2.

http://www.aviva.com.sg/pdf/MyShield_n_ ... ochure.pdf
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Postby linden2000 » Tue Apr 05, 2011 7:12 pm

25hourmaid wrote:Aviva has free coverage for kids under 20 if both parents are covered under their Plan 1 or 2.

http://www.aviva.com.sg/pdf/MyShield_n_ ... ochure.pdf


The last time I checked on this, the agent said the free coverage for kids is on Plan 2, so for pte hospital have to co-pay 35% and can't top up the $ difference to Plan 1. We preferred coverage that is not confined to govt/restructured hospitals so we decided to take up something else. But for those who do not mind, this may be a good deal.

linden2000
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Postby Guest » Tue Apr 05, 2011 7:28 pm

linden2000 wrote:The last time I checked on this, the agent said the free coverage for kids is on Plan 2, so for pte hospital have to co-pay 35% and can't top up the $ difference to Plan 1. We preferred coverage that is not confined to govt/restructured hospitals so we decided to take up something else. But for those who do not mind, this may be a good deal.


Yes, agree with you that it's a good deal for those who do not mind the condition of the kids being confined to government/restructured hospitals. For us, we didn't like that idea, so we bought the full plan for our boys.
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Postby 30plus » Tue Apr 05, 2011 9:32 pm

The biggest problem of the free coverage is that when it is over, your child may not get an insurance plan due to existing illness, touch wood. I chose not to take this risk.

Many shield plans in the market are very similar, be it from NTUC, Aviva, AIA, GE, etc. Whichever you choose, remember to buy the rider to cover deductible and/or co-insurance. Personally, I think deductible is more important. Typical hospital bill for A ward in Gov hospital is about 2,000. Without a rider to cover deductible, you may not be able to a single cent.

30plus
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Postby Guest » Tue Apr 05, 2011 10:04 pm

30plus wrote:The biggest problem of the free coverage is that when it is over, your child may not get an insurance plan due to existing illness, touch wood. I chose not to take this risk.

Many shield plans in the market are very similar, be it from NTUC, Aviva, AIA, GE, etc. Whichever you choose, remember to buy the rider to cover deductible and/or co-insurance. Personally, I think deductible is more important. Typical hospital bill for A ward in Gov hospital is about 2,000. Without a rider to cover deductible, you may not be able to a single cent.


30plus, you made a very valid point there! :celebrate:
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Hospital Insurance

Postby Elena » Wed Apr 06, 2011 1:33 am

Thank you all for the suggestions and information. :D

Elena
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Postby financial_guru » Sun Apr 10, 2011 5:42 pm

30plus wrote:The biggest problem of the free coverage is that when it is over, your child may not get an insurance plan due to existing illness, touch wood. I chose not to take this risk....


Hi 30+, sorry but I'll need to correct your understanding. When the free coverage is over at 20, aviva will still continue the plan 2 coverage for your children, its just a matter of the premiums no longer being free for your child. Aviva will start deducting the premiums from the parent's medisave.

There is no 2nd round of underwriting at age 20 for your child.
I hope your agent didn't confuse you! :?

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Postby 30plus » Tue Apr 12, 2011 2:17 pm

thanks for your correction. i did not want plan 2 anyway. so i might have not listen clearly. :celebrate:

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