AVIVA MyShield Plus or Not?

[wisely98]

Hi all, I had my dad is on Myshield. I'm considering whether I should fork out $1275/year to get him on Myshield plus, just to cover co-insurance and deductible. His next birthday age is 71.

Like to hear opinions before making a decision.

Thanks

 

[kennygoh89]

Well, Aviva is known for Very cheap premiums for younger people, and its gets very expensive when you're older, compared to other insurer. and since he is still at eligible age to switch, if he is still healthy, i would suggest you to switch to another company to save slightly more on premium and put food on the table from the premium saved. the brouchures are available on the individual companies website.

 

[wolfberries]

All integrated private medishields will get expensive when we grow old.

when old liao. Downgrade plan to stay in govt ward only will do. Cheap and affordable...
Can consider ntuc..

Hmmm... side note, your folk is under PG programme..

 

[FP_IFA]

kenny, how many 71 year old person you come across that is of perfect health?

Chances are topic starter will face problem trying to upgrade.

If premium is an issue, go for Option A instead of Option C. At least the co-insurance is covered and that will remove the risk on 10% of a big bill.

Oh and Aviva shield rider is not the most expensive one. Try looking at that "A" company shield.

I repeat, do not anyhow switch insurer on shield plan.

 

[kennygoh89]

Haha! I mean, well, yes, they all do get expensive, but who is more expensive than who, is more important. Well, my Grandfather is 80, when he got cataract, so, before that, he is healthy. Well, AIA is still more expensive than GE, Pru, compared apple to apple for private hospital plan. and their C plan is, a little nonsense, IMHO.
But wolf is right, PG card!

 

[Senpai]

Considering that your father is turning 71, a switch to an alternative insurer is not recommended as he might have pre-existing illnesses, which might not be covered when he undergoes medical underwriting under a new insurer.

For now, do check on the plan he is under i.e. Plan 1, 2 or 3 to see if a downgrade is necessary based on your cash flows. For MyShield, even the lowest Plan C is able to cover 100% of hospitalization bills with Myshield Plus Option C. Hence it is recommended to get it, but that is also subjected to medical underwriting.

Premiums wise, are all fair to certain extents, there is no free lunch. More details can be found at MOH's website if you want to compare premiums and benefits.

I will be glad to advise you further. Do drop me a pm if you wish to do so.

 

[kennygoh89]

Well, all premium compared in a single view.
Here is the link:
https://www.dropbox.com/s/o9tx6aryrdakaqd/All%20PMI%20comparison.pdf?dl=0

 

[wisely98]

Thanks guys for your replies.

Currently my dad is on the lowest plan with Myshield - Plan 3. I will hesistate to move him from Aviva to other insurers (as Senpai and FP_IFA have recommended) as he has high blood pressure, although he has not claimed anything for any related illnesses *touch wood*.

Thanks kennygoh89 for the link, the premium rates for Myshield Plus have risen. The updated rates are as follows:
http://www.aviva.com.sg/pdf/MyShield_n_MyshieldPlus_Brochure.pdf

Thanks wolfberries on the PG benefits

Questions:
1) Can deductibles be paid by medisave? Was thinking if i can't afford Myshield plus Option C, I may consider Option A - that covers co-insurance..

2) If I apply for Myshield plus, will it be under full medical underwriting or moratorium? Thinking out loud, since my dad is already covered my the main contract MyShield, applying for MyShield plus should involve little underwriting?

3) Was looking at the PG Medishield Life package which will take effect in 2015. Does the discount cover premiums paid for rider?

 

[iCuteCube]

Hello wisely98,

Your question 1: Yes, deductible can be paid by either cash or medisave.
Quoted "The co-insurance and deductible can be paid using Medisave or cash."
Ref Link: https://www.moh.gov.sg/content/moh_web/home/costs_and_financing/schemes_subsidies/Medishield.html

Your question 2: You can go for moratorium writing. Any sickness that is pre-existing should not be happening within 5 years from the policy inception date. You can claim after 5 years for pre-existing illness no problem. The problem is if the person got rejected by other insurer, the system is logged and therefore moratorium writing can be done but the illness will be excluded.

3) Cant answer you right now, this have to wait for next year for more information.

 

[sanzhu]

PAP launching


free medical insurance for all sinkies


esp for pioneer generation


imagine the queue outside the hospital


queue song son until jurong

 

[FP_IFA]

Thanks guys for your replies.

Currently my dad is on the lowest plan with Myshield - Plan 3. I will hesistate to move him from Aviva to other insurers (as Senpai and FP_IFA have recommended) as he has high blood pressure, although he has not claimed anything for any related illnesses *touch wood*.

Thanks kennygoh89 for the link, the premium rates for Myshield Plus have risen. The updated rates are as follows:
http://www.aviva.com.sg/pdf/MyShield_n_MyshieldPlus_Brochure.pdf

Thanks wolfberries on the PG benefits

Questions:
1) Can deductibles be paid by medisave? Was thinking if i can't afford Myshield plus Option C, I may consider Option A - that covers co-insurance..

2) If I apply for Myshield plus, will it be under full medical underwriting or moratorium? Thinking out loud, since my dad is already covered my the main contract MyShield, applying for MyShield plus should involve little underwriting?

3) Was looking at the PG Medishield Life package which will take effect in 2015. Does the discount cover premiums paid for rider?

I am going to just address on question 2 to correct some answer given below.

2. Whether your medical underwriting for Myshield plus is moratorium or full depends on what type of underwriting you go for when you apply for MyShield. If earlier you apply using full underwriting, then MyShield Plus will have to be apply under full medical underwriting. If it is moratorum earlier than Plus will be moratorium.

 

[wisely98]

I am going to just address on question 2 to correct some answer given below.

2. Whether your medical underwriting for Myshield plus is moratorium or full depends on what type of underwriting you go for when you apply for MyShield. If earlier you apply using full underwriting, then MyShield Plus will have to be apply under full medical underwriting. If it is moratorum earlier than Plus will be moratorium.

ok thanks for the clarification