AXA Shield Plan A rider

[TiedInsurer]

I just opened an email from AXA, that says that they are hiking their prices of their rider, for Age band 31 to 35. Original price in FY2019 was $312. Now they want to charge $646. Sounds like they are telling me that they want me to cancel my plan.

Anyone have a more affordable hospitalisation plan to recommend?

 

[layzibum22]

AXA Shield premiums are one of the most competitive in the market.

If you really wanna pay less premium, den change to the new rider scheme that has the 5% co-payment.

The new rider, Enhanced Care, for your age band under Plan A would be S$312.
This new rider has better cover compared to the old Basic Care rider only.

Refer to this new article to understand why premiums are increasing.
https://www.straitstimes.com/politi...ntegrated-shield-plans-will-have-to-pay-5-per

 

[TiedInsurer]

AXA Shield premiums are one of the most competitive in the market.

They used to be. Until they decided to hike their prices by 107%. Seriously. How the hell does anyone justify doubling prices?

 

[moejoseph]

It's just a matter of time all insurers raise their price. The govt is sort of forcing people to change to the 5% co-pay rider now, so those who are still on 100% coverage will need to face an increase almost yearly, especially when those who are claiming keep claiming it.

If u are not a constant "claimer", will suggest to switch. If not, u will definitely suffer, because u are paying for others who have claimed a bulk of the money.

The increase is proportionate across age band, so those age band which has the highest claim, will increase much more. If u are still comparing based on 100% coverage, AXA is still one of the lowest eevn with the increase. As for future, nothing can be guaranteed though

 

[TiedInsurer]

The new rider, Enhanced Care, for your age band under Plan A would be S$312.
This new rider has better cover compared to the old Basic Care rider only.

Refer to this new article to understand why premiums are increasing.
https://www.straitstimes.com/politi...ntegrated-shield-plans-will-have-to-pay-5-per

...You're not listening.... I just said that $312 is no more. They are hiking the price to $646, effective 10 Feb 20. They have not updated their website yet, but change is in place already.

 

[TiedInsurer]

It's just a matter of time all insurers raise their price. The govt is sort of forcing people to change to the 5% co-pay rider now, so those who are still on 100% coverage will need to face an increase almost yearly, especially when those who are claiming keep claiming it.

If u are not a constant "claimer", will suggest to switch. If not, u will definitely suffer, because u are paying for others who have claimed a bulk of the money.

I'm already on the 5% co-pay rider, because i just switched to AXA last year, in response to Prudential hiking my premiums by 30%.

 

[moejoseph]

I already don't have the 5% co-pay rider, because i just switched to AXA last year, in response to Prudential hiking my premiums by 30%.

In this case do check with your agent directly. From what i know, you should already be on the 5% co-pay since u switched last year.

There should be no increase for the new enhanced care rider, unless there is a jump in age band. Brochure on the website was updated as of 20 Feb 2020 as well.

For AXA, only the old Plan A riders increased in price. Plan B riders still remain the same. And for the CPF portion, Plan A did increased a little for some age band as well

 

[BigAntres]

600+ is the rider for 100% coverage. Don't think you're on 5% co-pay. I'm on shield plan too.

 

[TiedInsurer]

In this case do check with your agent directly. From what i know, you should already be on the 5% co-pay since u switched last year.

There should be no increase for the new enhanced care rider, unless there is a jump in age band

Yup. I need to co-pay 5%. Based on the very lengthy .pdf that they sent me, i don't think there's a mistake... Anyway, i already whatsapped my agent telling them not to renew, and that i'm going to jump ship soon because i'm angry at the ridiculous price hike. We'll see if i'm mistaken....

 

[TiedInsurer]

600+ is the rider for 100% coverage. Don't think you're on 5% co-pay. I'm on shield plan too.

I paid $312 last year though. And my documents from last year clearly state that i have co-pay. Unless they are looking to"upgrade" me?

 

[moejoseph]

Yup. I need to co-pay 5%. Based on the very lengthy .pdf that they sent me, i don't think there's a mistake... Anyway, i already whatsapped my agent telling them not to renew, and that i'm going to jump ship soon because i'm angry at the ridiculous price hike. We'll see if i'm mistaken....

Perhaps u can screenshot here to show us as well. The premium breakdown can be confusing to look at sometimes.

 

[boredboiboi]

I just opened an email from AXA, that says that they are hiking their prices of their rider, for Age band 31 to 35. Original price in FY2019 was $312. Now they want to charge $646. Sounds like they are telling me that they want me to cancel my plan.

Anyone have a more affordable hospitalisation plan to recommend?

You can look into raffles shield, they having promotion of lock in 3 year premium

 

[TiedInsurer]

Perhaps u can screenshot here to show us as well. The premium breakdown can be confusing to look at sometimes.

http://imgur.com/gallery/J7xEfNT

First image should be the cost for the basic Shield Plan A, that can be paid out of CPF. Second picture is for the rider.

 

[moejoseph]

http://imgur.com/gallery/J7xEfNT

First image should be the cost for the basic Shield Plan A, that can be paid out of CPF. Second picture is for the rider.

This one is definitely the old 100% rider.

New 5% co-pay rider is called Enhanced Care Rider

 

[layzibum22]

If you just sign up "Basic Care" aka the old rider last year before April 2019.
You would auto transit into "Enhanced Care" in 2021.

 

[TiedInsurer]

This one is definitely the old 100% rider.

New 5% co-pay rider is called Enhanced Care Rider

https://imgur.com/gallery/jg3TqCp

My previous year policy booklet does say Enhanced Care Rider though. They trying to "upgrade" me? So confusing. Meeting the agent this Sunday to sort this out.

 

[moejoseph]

Old rider for 100% coverage shld be at $431.

I believe this email most likely shouldn't be meant for you. Recently AXA system cock up a bit, and some people were affected by receiving the wrong emails lol