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Medishield Comparison. Find out which is the cheapest

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Old 03-06-2016, 12:48 AM   #61
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wife and child both on aviva didnt realize their rider most ex....must be lotsa claims..lol
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Old 03-06-2016, 08:53 AM   #62
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Agreed with you that insurance as per meaning of the word.

But till age 45 would be a good age to then buy isn't it? One can see the premium are lower and after 45 then there is a "spike" in the premium, no?
I wouldn't call the increase in premium at 45 is spike. It is increased of risk along with older age. The actual spike is when you're 60-70. It is when the premium become un-affordable.


I do have friends who bought in their 20s till now in late 30s or early 40s. All these years of premium paid just paid for nothing and you cannot claim any back like the saving insurance etc...
Of course they argue that insurance as way to insure and $$$ is can be earn back in the healthy prime years....
Nope. It is not paid for nothing. If I'm your friend, I will be happy that nothing happened to me. I'm paying for the transfer of risk, hence the essence of insurance.

So, are you saying you're happier if there is "money value" in your health insurance? I know that some countries bundled the health insurance with investment. But in the end, you are just paying more for the investment portion.


An agent just told me that at 35-early 40s can straight admit into these policies without any health checks needed. So you mean there are still some "blind" points that I have missed out?
Imagine the scenario whereby someone 40 years old. Then don't have any serious medical conditions, never been hospitalized before. Then that person take the integrated shield plan and accepted without exclusion. Suddenly 1 year later, suffer from stroke. and incurred bill of $100k. What do you think the insurer will do? They will dig the health history of that person, found out of high blood pressure and high cholesterol and saying the person didn't declare, hence pre-existing conditions which won't be covered by the insurance. If that person took the shield plan from early 20s, the insurance company has to dig data from 20 years ago. And most probably they won't do that.

I'm not saying that the insurance company will do this, most probably they will just pay the claim. But there is a risk when you're older.

I think in the end of the day, you'll need to think yourself whether it is worth the risk to save those few thousand dollars. I understand your point of view and it will be quite hard to change that. You will need to think for yourself.

At the very least, if you have full time job, you should upgrade the shield plan without the rider (if you're concern on the cash portion). If you're below 40, it should be fully covered by medisave. And you can't withdraw your medisave anyway.
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Old 03-06-2016, 11:11 AM   #63
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I think people are like this. When thgs dont happen they feel that they have wasted years of premium. But when thgs do happen, they wished they had purchased more. Illnessnes n accidents do not choose only the older folks. Smone who is healthy can jus collapse when running. It is all abt leveraging on insurance. U can choose to wait and buy later but shd u develop any problems in btw, insurers most likely will exclude u for certain conditions
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Old 03-06-2016, 11:20 AM   #64
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I wouldn't call the increase in premium at 45 is spike. It is increased of risk along with older age. The actual spike is when you're 60-70. It is when the premium become un-affordable.
Thanks for your detailed advice, I am about to get one soon
Another policy that I am looking into is critical illness, but still integrated and rider will be first
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Old 03-06-2016, 11:34 AM   #65
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wife and child both on aviva didnt realize their rider most ex....must be lotsa claims..lol
Hi cost is based on age. Not based on number of claims
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Old 03-06-2016, 07:08 PM   #66
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Good thread!!!
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Old 05-06-2016, 01:51 AM   #67
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Hi cost is based on age. Not based on number of claims
check out their rider price...significantly more expensive compared to other insurers for many of the age bands...premium increase is due to inflation...and also claims...if they pay out too much..of course have to increase premium to recover...
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Old 06-06-2016, 01:38 AM   #68
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check out their rider price...significantly more expensive compared to other insurers for many of the age bands...premium increase is due to inflation...and also claims...if they pay out too much..of course have to increase premium to recover...
shield plan premiums increase with age bands and if there are changes to benefits from either government's medishield/medishield life or private insurers. premiums dont increase due to high amouts of claims.
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Old 06-06-2016, 01:48 AM   #69
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I think all insurers need to be warded for at least 6hrs for claim. Doubt any insurer able to claim for observation.

Let me upload another ppt I made abt medishield life

https://drive.google.com/file/d/0B5B...ew?usp=sharing
Not sure if anyone replied this, there's a clause of 'Short stay ward' for some insurers, which means 4 hours of observation.

Cheers
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Old 07-06-2016, 09:35 AM   #70
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shield plan premiums increase with age bands and if there are changes to benefits from either government's medishield/medishield life or private insurers. premiums dont increase due to high amouts of claims.
That's not true, insurance companies operate on a capital adequacy ratio. That is to say we have to collect enough premiums to have in excess of a certain percentage of claims paid, which is the incurred loss ratio.
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Old 13-06-2016, 02:33 PM   #71
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go google and search "moh integrated shield plan comparison" this is done by ministry of health themselves.
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Old 15-06-2016, 10:31 PM   #72
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Chiefs AXA integrated shield plan application got approved with no exclusions despite pre-existing!!

Power lah AXA!!!
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Old 15-06-2016, 11:05 PM   #73
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Chiefs AXA integrated shield plan application got approved with no exclusions despite pre-existing!!

Power lah AXA!!!
wow, may I know whats the pre-existing condition? Its case by case right? How much are the premiums in comparison to the other insurers tho lets say ntuc?
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Old 15-06-2016, 11:24 PM   #74
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Chiefs AXA integrated shield plan application got approved with no exclusions despite pre-existing!!

Power lah AXA!!!
grats! you got yourself the best integrated shield in the market as of date without exclusion despite existing condition!
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Old 15-06-2016, 11:26 PM   #75
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wow, may I know whats the pre-existing condition? Its case by case right? How much are the premiums in comparison to the other insurers tho lets say ntuc?
it depends on your age band, depend on the age band, ntuc and axa can be higher than one another. which age band are you looking at?
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