advise on medishield add-on

[sellinglink]

I was thinking which medishield add-on to get. One is Prudential PRUshield or NTUC Enhance income shield.

Any advise?

 

[RaPtOrZ]

what's your age?

 

[choonfatt]

Hijack this thread. I'm interested to know between the two too. Am 27.

 

[mohdkhair]

Allow me start by saying that there's too much differences.
MOH has done a great service comparing all such plans in the market. Google for "medishield comparison", it's on the first entry. Pardon as I can't post links yet.

Question is, which features matters to you most?
Everything comes with some trade-offs..

 

[choonfatt]

Actually I have seen the comparison pdfs and know the generic differences. Problem is from the contracts I am not sure whether there are differences arising due to phrasing. And other intangible factors such as claim experience etc. Correct me if I am focusing on wrong things?

 

[matchy]

y only consider this two company??

wat about aviva, great eastern and AIA?

 

[lzydata]

Actually I have seen the comparison pdfs and know the generic differences. Problem is from the contracts I am not sure whether there are differences arising due to phrasing. And other intangible factors such as claim experience etc. Correct me if I am focusing on wrong things?

Contracts and claims return rate comparison are here:
http://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=342

 

[iAdvisor]

I was thinking which medishield add-on to get. One is Prudential PRUshield or NTUC Enhance income shield.

Any advise?

NTUC Enhance income shield. There are quite a number of threads discussing medishield products. For a life time commitment, escalating premium product, you have to look far into the future, whether if the premium is affordable at your old age.

 

[Cashcow]

Buy AIA healthshield gold max.

The one with the best benefits and from this company which is listed in hongkong, won't anyhow delay your claims. Why buy from a company in which the ex-CEO still have to ask for donations to run for election? Like that, how to have confidence in the company and product?

 

[wishwishdreamdream]

anyone who would like a meet up to know more, do let me know okay ? I got a financial consultant quite reliable

 

[iAdvisor]

Buy AIA healthshield gold max.

The one with the best benefits and from this company which is listed in hongkong, won't anyhow delay your claims. Why buy from a company in which the ex-CEO still have to ask for donations to run for election? Like that, how to have confidence in the company and product?

If the status of an ex-CEO is a criteria for selecting a product, then I would say, a company that is almost sold to another has not much credibility as well.

 

[mohdkhair]

Actually I have seen the comparison pdfs and know the generic differences. Problem is from the contracts I am not sure whether there are differences arising due to phrasing. And other intangible factors such as claim experience etc. Correct me if I am focusing on wrong things?

Claim experience, now that is a good question to focus on.

From the feedback I received from fellow insurance colleagues, they swear by NTUC when it comes to administration of claims, at least for this particular plan. Having said that, NTUC IncomeShield is neither the cheapest nor the most comprehensive among them.

 

[iAdvisor]

Claim experience, now that is a good question to focus on.

From the feedback I received from fellow insurance colleagues, they swear by NTUC when it comes to administration of claims, at least for this particular plan. Having said that, NTUC IncomeShield is neither the cheapest nor the most comprehensive among them.

I think it is rather biased to post such comment.

it is not realistic to comment on the claim experience base on hear say. You hear bad things about Ntuc, I hear that they can be nice or even pay out of good will. I have client with ge who was suspected frauding when trying to make a claim after 3 mth. I have client who beg us to help claim from prushield, when the agent not able to help. does that means they are bad?

Insurance company are still business. When comes to claiming,everyone is the same.your case is straight forward, you have a smooth claim. Your case fell into gray area, agent got to fight the case

True enough, their efficiency at times are not as good. But the agent can play a part too.

Do explain how NTUC are not the cheapest or its comprehensiveness its questionable.

 

[mohdkhair]

I think it is rather biased to post such comment.

it is not realistic to comment on the claim experience base on hear say. You hear bad things about Ntuc, I hear that they can be nice or even pay out of good will. I have client with ge who was suspected frauding when trying to make a claim after 3 mth. I have client who beg us to help claim from prushield, when the agent not able to help. does that means they are bad?

Insurance company are still business. When comes to claiming,everyone is the same.your case is straight forward, you have a smooth claim. Your case fell into gray area, agent got to fight the case

True enough, their efficiency at times are not as good. But the agent can play a part too.

Do explain how NTUC are not the cheapest or its comprehensiveness its questionable.

"I think it is rather biased to post such comment"
I agree, keeping in mind that everyone is biased to their own opinions

"it is not realistic to comment on the claim experience base on hear say. You hear bad things about Ntuc, I hear that they can be nice or even pay out of good will. I have client with ge who was suspected frauding when trying to make a claim after 3 mth. I have client who beg us to help claim from prushield, when the agent not able to help. does that means they are bad?

Insurance company are still business. When comes to claiming,everyone is the same.your case is straight forward, you have a smooth claim. Your case fell into gray area, agent got to fight the case

True enough, their efficiency at times are not as good. But the agent can play a part too."
I agree. I believe in having a balanced view too. In the case of the intangible factors as mentioned by choonfatt, I believe he is concerned in what else can go wrong with his pick. An agent can only go as far as facts are concern. There comes a point when you, the buyer, have to follow your guts.

Do explain how NTUC are not the cheapest or its comprehensiveness its questionable
I refer back to the table at MOH websites. Look at the premiums, then look at what are the missing features, and what are the limitations of the available features. The buyer must eventually decide which weaknesses can they live with.

 

[iAdvisor]

"I think it is rather biased to post such comment"
I agree, keeping in mind that everyone is biased to their own opinions

"it is not realistic to comment on the claim experience base on hear say. You hear bad things about Ntuc, I hear that they can be nice or even pay out of good will. I have client with ge who was suspected frauding when trying to make a claim after 3 mth. I have client who beg us to help claim from prushield, when the agent not able to help. does that means they are bad?

Insurance company are still business. When comes to claiming,everyone is the same.your case is straight forward, you have a smooth claim. Your case fell into gray area, agent got to fight the case

True enough, their efficiency at times are not as good. But the agent can play a part too."
I agree. I believe in having a balanced view too. In the case of the intangible factors as mentioned by choonfatt, I believe he is concerned in what else can go wrong with his pick. An agent can only go as far as facts are concern. There comes a point when you, the buyer, have to follow your guts.

Do explain how NTUC are not the cheapest or its comprehensiveness its questionable
I refer back to the table at MOH websites. Look at the premiums, then look at what are the missing features, and what are the limitations of the available features. The buyer must eventually decide which weaknesses can they live with.

So what is the missing feature or weakness and/or limitation that is found in NTUC and not in other shield plan?

 

[FP_IFA]

Buy AIA healthshield gold max.

The one with the best benefits and from this company which is listed in hongkong, won't anyhow delay your claims. Why buy from a company in which the ex-CEO still have to ask for donations to run for election? Like that, how to have confidence in the company and product?

Can explain why AIA HealthShield Gold Max has the best benefits?

 

[mohdkhair]

So what is the missing feature or weakness and/or limitation that is found in NTUC and not in other shield plan?

I do not intend to go through features here. There's already a Google for "medishield comparison", it's on the first entry. Pardon as I can't post links yet. Pick from Basic Plans to Private Hospital plans. The tables there already makes it plain enough to see.

 

[tigerliongoose]

I think sometimes we are too concerned about the wrong things when comparing shield plans. This might be a better way to compare shield plans:

The comparison between Medishield Life vs Private Integrated Shield Plan FAQ