Medishield Comparison. Find out which is the cheapest

blurpandasg2014

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Hi all

Welcome to the Medishield Comparison Thread. I hope you find the following information useful to you.

Comparisons are based on Age 1 till Age 75 for private integrated shield plan (ISP)

Medishield Main Plan

MSP.png

AIA has the highest cash outlay. Raffles shield with the lowest.

Rider Benefit Overview

Riders are categorised into full riders and half riders according to their features to facilitate this comparison. Note that price of riders reflected is before no claim discount, set out by individual insurers.

List of full riders
  • SINGLIFE HEALTHPLUS PRIVATE PRIME
  • AIA MAX VITALHEALTH A
  • HSBC LIFE ENHANCED CARE PLAN A
  • GREAT EASTERN TOTALCARE P
  • INCOME DELUXE CARE RIDER
  • PRUDENTIAL PRUEXTRA PREMIER COPAY
  • RAFFLES SHIELD PRIVATE KEY RIDER

Full Rider Benefit Overview

Rider-FRB.jpg


MSFR.png


List of half riders
  • SINGLIFE HEALTHPLUS PRIVATE LITE
  • AIA MAX VITALHEALTH A VALUE
  • GREAT EASTERN TOTALCARE P SELECT
  • INCOME CLASSIC CARE RIDER
  • PRUDENTIAL PRUEXTRA PREMIER LITE COPAY

Half Rider Benefit Overview

Rider-HRB.jpg


MSHR.png


Correct as of 27/04/2023

You can download the excel with all the calculations at this link:

CLICK HERE FOR LINK TO GOOGLE DRIVE

Disclaimer: I am not a financial consultant and am in no way related to the insurers. This comparison is for informational purposes only. Kindly refer to the insurer website or latest brochure for more information.
 
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blurpandasg2014

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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
 

wts2013

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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

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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

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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

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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

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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

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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

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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

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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)
 

wts2013

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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
 

MikeZhang

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

If you do not have any pre-existing condition, it would be good to switch to other plan with lower cost. You might wanna check out their benefit in MOH website.
 

asiafrenz

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If you do not have any pre-existing condition, it would be good to switch to other plan with lower cost. You might wanna check out their benefit in MOH website.

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

hmmmm.... :D AFAIK dont have any pre-existing medical illnesses that need to be declared, so can say no unless they need me to go for a full comprehensive medical check up before allowing a switch? :s11:
 

K|muRa^84

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if u retire at 65, how long wld it take for ur medisave to run out ?
 
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