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Old 29-12-2017, 12:52 PM   #15
BBCWatcher
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Join Date: Jun 2010
Posts: 12,848
Last time no Medishield Life so it is important to buy more term or life insurance. With the introduction of the compulsory Medishield Life you can even throw out term insurance coverage out of the window altogether.
I think you mean hospitalization insurance, i.e. Integrated Shield, which layers on top of MediShield Life. Term life insurance is entirely different than MediShield Life.

This one is a bit tricky, but I think there's a strong argument that an "as charged" Integrated Shield policy at either the B2+ or B1 public hospital ward level can be fairly described as essential. In particular, if you view a guaranteed air conditioned hospital ward as essential, then a public hospital B1 ward "as charged" Integrated Shield plan is essential. (Riders are not.)

For those who don't mind doing without air conditioning, I think NTUC Income's IncomeShield Enhanced C plan with Assist Rider is a reasonable approach. It's inexpensive, and that combination covers a lot more than MediShield Life does -- as long as you stay in public hospital B2+ wards or below. In particular, it adds 90 days of pre-/post-hospitalization outpatient coverage, and that's important medical protection. (I wish it were more days, but 90 is better than 0.) This plan works especially well for women, since KK Hospital has B2+ ward (air conditioned). I don't think any other public hospital advertises a B2+ ward, so it's much more like a lottery elsewhere.

If your employer offers medical insurance then...well, it's "interesting." If you go completely without Integrated Shield, then you might have a risk of future medical conditions effectively excluding you from Integrated Shield, post-employment. My preferred approach is to pick the minimum Integrated Shield plan you could live with post-employment -- probably either IncomeShield Enhanced C plus Assist, or Great Eastern's Supreme Health B Plus without a rider -- and make that your foundational coverage, maintained. If your employer then provides medical benefits above that portable baseline coverage, great! But I'd keep the baseline going (or drop down to that baseline if you're already higher, at least while employed with "top-up" medical benefits).

Last edited by BBCWatcher; 29-12-2017 at 12:58 PM..
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