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-   -   Medishield Comparison. Find out which is the cheapest (http://forums.hardwarezone.com.sg/money-mind-210/medishield-comparison-find-out-cheapest-5183479.html)

blurpandasg2014 24-09-2015 09:56 PM

Medishield Comparison. Find out which is the cheapest
 
Hi all

Updated the comparison with the latest premium.
Comparison is based on age1 till age75 for private plan.


Quote:

Key Information and Benefit by Insurer

AIA
- up 13mths pre/post (public hosp/selected partners) otherwise 100Days Pre/Post Hospitalisation
- Congenital Benefit for insured child: $20,000 ($5k/child)
- up to 2mil annual limit for public hosp/selected partners otherwise 600k

Key Benefits of AIA Max Essential:
- Home Nursing Benefit ($5000/yr)
- Covers Emergency Outpatient Treatment
- Post Hospitalisation Alternative Benefit (aka TCM) for Cancer/Stroke

AXA
- 180days pre / 365days post hospitalization coverage
- Letter of Guarantee (LOG) of up to S$100,000 at private hospitals if referred through AXA panel of Specialists, and up to S$15,000 at public hospitals.

Key Benefits of Basic Care Rider:
- Covers Deductible and Co-Insurance

Key Benefits of AXA General Care (Additional to Basic Care Rider):
- Daily Hospital Cash Incentive of up to S$250 per day
- Covers ambulance or taxi charges
- Covers Traditional Chinese Medicine (TCM) treatment post-hospitalisation
- Covers certain planned overseas medical treatments
- Covers outpatient treatments for fractures, dislocations, sports injuries, dengue, food poisoning, and Hand, Foot, and Mouth Disease

Aviva
- 90 Days Pre/Post Hospitalisation
- Extra inpatient benefit for 5 CI: $150,000/yr
- Free newborn benefit (50k)

Key Benefits of MyHealthPlus Rider:
- Post Hospitalisation coverage increased to 180days
- Community Hospital stay limit increased to 60days
- Covers ambulance charges
- Covers Traditional Chinese Medicine (TCM) treatment post-hospitalisation
- Accidental cover for child benefit $1,000/lifetime
- Critical illness benefit: $10,000/lifetime
- Hospital Cash Benefit

NTUC
- 90 Days Pre/Post Hospitalisation
- Prosthesis Benefit $10,000/yr
- Yearly Limit 1mil

Key Benefits of PLUS Rider:
- Covers Deductible and Co-Insurance

Prudential
- 180 Days Pre/ 365Days Post Hospitalisation
- 1.2mil policy year limit


Key Benefits of PruShield Extra:
- Covers ambulance charges
- Covers Traditional Chinese Medicine (TCM) treatment post-hospitalisation
- Covers Emergency Outpatient Treatment
- Prosthesis Benefit $3000/yr
- No Claim Discount of 10% on annual premiums (PRUwell Reward)
- * Up to 300% premium loading if there is a claim on rider

Great Eastern
- 120Days Pre/180 Post Hospitalisation
- Confinement in Community Hosp $800/day. No cap mentioned.
- Congenital Abnormalities of the Life Assured’s Biological Child S$20,000 per Lifetime
(limited to S$5,000 per child)
- Annual Limit: 1.5mil

Key Benefits of TotalHealth Platinum:
- Get well benefit of $500
- Inpatient Hospice coverage of $300/day (up. 90days/policy)
- Covers ambulance charges
- Covers Traditional Chinese Medicine (TCM) treatment post-hospitalisation
- Covers Emergency Outpatient Treatment
- Home Health Care: $5000

Disclaimer: I am not an agent and am in no way related to any of the insurance companies
Price comparison of IPs

http://i.imgur.com/OHgI5mx.png

Correct as of 01/08/2017



You can download the excel with all the calculations at this link: https://drive.google.com/file/d/0B4V...ew?usp=sharing

wahkao3 24-09-2015 10:34 PM

goood threaddd

shingy 24-09-2015 10:45 PM

Don't forget to look at the difference in benefits as well.

blurpandasg2014 25-09-2015 12:08 AM

Quote:

Originally Posted by shingy (Post 96799147)
Don't forget to look at the difference in benefits as well.

yeap...i do agree that some of the insurance have better features. Prudential main plan has good features :D While NTUC offers the basic necessity which i feel is sufficient for those who intends to cover purely for 100% hospitalisation.

GE...i realli got no idea what so special about them for such high charges

chopra 25-09-2015 08:14 AM

Ntuc needs to pay $x deductible right? This is what i compiled last time. Will update come 1st nov.

http://i.imgur.com/CYoIkzil.jpg

Sent from ew line is so sloooow using GAGT

wts2013 25-09-2015 08:17 AM

Quote:

Originally Posted by chopra (Post 96805526)
Ntuc needs to pay $x deductible right? This is what i compiled last time. Will update come 1st nov.

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If u pay for the 100% cover rider, u pay zero, hahaha, now NTUC offers again this rider, was stopped for a few years, hahaha

Agree with TS, NTUC is sufficient, hahaha

chopra 25-09-2015 08:18 AM

I feel there is no pt calculating premium for e entire life span as
1. Premium costs will change
2. U dunno how long u will live.

I prefer to compare within age group -- and my conclusion was
1. If u r young, u can see that the difference is not big. Ie, go for whichever convenient / suitable. As long as u get a rider, it's good.

2. Price difference @ old age is big. But these premiums are subjected to fluctuations in e future, so y bother tracking it now? Company A Being e cheapest now, might not be that way in e future. For me, i would prefer to get a local bank backed one.


Ur call.

Sent from ew line is so sloooow using GAGT

AhPek_Lion 25-09-2015 09:27 AM

Quote:

Originally Posted by chopra (Post 96805616)
I feel there is no pt calculating premium for e entire life span as
1. Premium costs will change
2. U dunno how long u will live.

I prefer to compare within age group -- and my conclusion was
1. If u r young, u can see that the difference is not big. Ie, go for whichever convenient / suitable. As long as u get a rider, it's good.

2. Price difference @ old age is big. But these premiums are subjected to fluctuations in e future, so y bother tracking it now? Company A Being e cheapest now, might not be that way in e future. For me, i would prefer to get a local bank backed one.


Ur call.

Sent from ew line is so sloooow using GAGT

My take is that prices will only go up. If it's already so expensive, it will become even worst

So going by the most affordable, there is still room for affordability even with price increase

Soul77 25-09-2015 03:25 PM

Any reason why you calculate only until 75 years old? You may want to include till 85 (or at least till the Singapore life expectancy ratio of 83).

I can see that the annual premium after 75 are exponentially more expensive.

wts2013 25-09-2015 04:02 PM

Quote:

Originally Posted by Soul77 (Post 96817308)
Any reason why you calculate only until 75 years old? You may want to include till 85 (or at least till the Singapore life expectancy ratio of 83).

I can see that the annual premium after 75 are exponentially more expensive.

hmmm... dun know why, but I would not want to cos by that age, govt subsidy shld be good enough together with medishield life, hahaha, most likely I would stop ISP by then, hahaha

Soul77 25-09-2015 04:11 PM

Quote:

Originally Posted by wts2013 (Post 96818419)
hmmm... dun know why, but I would not want to cos by that age, govt subsidy shld be good enough together with medishield life, hahaha, most likely I would stop ISP by then, hahaha

Yeah.. I did calculation for 75-90 period, the cash layout for Aviva is 67k (excluding rider), for NTUC 46k (excluding rider).

I think if anything happen after 75, then it's time to go already. no point prolonging.

wts2013 25-09-2015 04:25 PM

Quote:

Originally Posted by Soul77 (Post 96818720)
Yeah.. I did calculation for 75-90 period, the cash layout for Aviva is 67k (excluding rider), for NTUC 46k (excluding rider).

I think if anything happen after 75, then it's time to go already. no point prolonging.

wah, thanks for calculating, medisave also not enough to pay ISP, better to keep it and pay medical bills or bequest, hahaha

SpinFire 25-09-2015 04:29 PM

I think GE spends a lot of money on advertising and marketing. Even their whole life policies are one of the most expensive in Singapore. When I was doing a comparison last year, the annual premiums for GE whole life policy was approx. $500 more than other insurers like TM and AXA for $100k coverage.

I'd prefer not to pay more for the 'brand' unless it's proven to have tangible benefits like higher returns (for WL policies) or easier claims (for hospital plans)

asiafrenz 25-09-2015 04:30 PM

can change to any of these companies at any time without any issue? :s11:

wts2013 25-09-2015 04:36 PM

Quote:

Originally Posted by asiafrenz (Post 96819302)
can change to any of these companies at any time without any issue? :s11:

hahaha, unless u very sure u are 100% healthy, switch fast, otherwise dun try, u might end up with no ISP or more expensive with pre existing condition, hahaha, my general knowledge


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