Changing Integrated Shield Plan Provider

[akwl88]

Why are agents still asking people to swtich plans? Isnt the rule of thumb to just buy 1 ISP and stick to it? Like what pple said, cheap premiums now can increase in the future. Yes, some insurers might cover less, but we have seen revision of these benefits as time passes (e.g. higher annual coverage, pre/post hosp).

And most of the ISP providers are already v established. Are there any strong reasons to switch? (Only reason i can think of are cases insurer A dun cover yr conditions but insurer B does).

To get the 1st year commissions lor

 

[Bigoya]

Hello, if I am currently under Prudential (also bought the rider) and would like to change to NTUC, are there any things that I have to take note before making a change?

Was thinking of changing as the premium for NTUC is cheaper as compared to the rest of the companies, when my age gets older. Although NTUC does not have the best coverage, but in the long run, it will still be more affordable.

Thanks!

- NTUC is better due to much more cost-effective riders, however coverage and premiums are non-guaranteed and are subject to revision as and when (this is true for all shield plans).

- The shortfall is that pre/post-coverage is only 90 days.

Please note that you'd have to make an honest health declaration including high blood pressure or high blood cholesterol, if any. If the underwriting result comes out with exclusions which are covered currently by Pru (supposedly you have made proper health declaration back then), it may not be advisable for you to switch.

On a side note, AXA shield is also cost-effective with good coverage in it's own way which you can also consider.

 

[Bigoya]

Also NTUC no agent.

You fall sick, must be willing to do claim yourself.

I'm a Ntuc shield plan customer.

Sent from OPPO F1s using GAGT

Need IFA agent to take over your servicing put your hands up.
There's no such things as only NTUC agent will not do claim, other insurers would also have their fair share of irresponsible agents.

 

[Bigoya]

Why are agents still asking people to swtich plans? Isnt the rule of thumb to just buy 1 ISP and stick to it? Like what pple said, cheap premiums now can increase in the future. Yes, some insurers might cover less, but we have seen revision of these benefits as time passes (e.g. higher annual coverage, pre/post hosp).

And most of the ISP providers are already v established. Are there any strong reasons to switch? (Only reason i can think of are cases insurer A dun cover yr conditions but insurer B does).

There is no rule of thumb of just buy and stick to 1 IP, unless your health has worsen after your existing IP has incepted.

I think different people would have different opinion of what's important to them and what's not,, and not everyone shares the same perspective.
The reason is as good as why some people regularly change their mobile phone while some could use the same phone for 3 years or more.