CPF : Purchasing the Rider Shield?

[wutawa]

so meaning Rider is out, Redundant.
How about insurance policy?

insurance policy depends on what it covers. most insurance policies are redundant too.

 

[game goondu]

Guys, want to check is buying the Rider Shield is more than enough, rather than buying another from insurance company?
the agent told me the insurance cover many illness......

What you guys think?
Care to share?

Thanks alot.

If its horsepeter rider, only cash

 

[Laguna123]

Why hospital insurance still need rider? The balance co-payment can use Medisave?

 

[bombshell]

If u ok to stay subsidized class b2/c ward, no need rider 1 lah. The deductible $1.5k may not even hit.

 

[ceestudent]

Do you have dependant? kids maybe?
This will change what insurance you need vs single that can die anytime

 

[Ideasmiths]

the agent listed me a list of illness covered from the insurance policy.
I thought of cancel the policy and solely pay for the Rider...

critical illness plan and hospitalizaion plan (Plus rider) are for different purposes.

If one is hospitalize, the basic hospitalization plan would cover ward stay and procedures but got to pay deductible and co-insurance and total coverage is up to a limit. Doesn't mean that if you have a private hospitalization plan means you are better off vs a public hospitalization plan.

Example kanna something and need surgery, go public hospital the procedure may cost lets say $50,000 but if go private hospital its $150,000. Would you be able to come out with $150,000 cash? Hospitalizaion plans are reimburse basis so you cough out money first then IF claimable then get money back. If one is not so cash positive, it may be better to choose a public hospital for cost reason.

Outside the hospital, if one kanna say cancer, then the critical illnesses plan would pay $, then one can use the $ to go hospital.

My feeling is one should have a critical illness plan as well as hospital plan with rider as all 3 serve different scenerios

 

[fortunehunter]

Rider is good if you are employed

 

[darkmilk]

If going for private hospital Integrated Shield Plan (IP), then you should get the rider because the bills are quite unpredictable.

If going for public hospital Integrated Shield Plan (IP), then actually don't need rider if you are okay with subsided wards as the new riders for pubic hospital IP are not as attractive as the old rider because deductible is not waivable and co-payment is 5%.

 

[titusilvering]

how about you bro?
if you already under Rider, will you buy extra from insurance policies?

I don't buy anything. Usually those buy simi extra one mean go private hospital one. And if the bill sibei chor mean you sibei sick liao.

 

[mgx-alander]

i buy IP standard Plan with rider.. only

premium use medisave, rider about 200+ a year, but ish pap horsepeter class B1 max only, no A class or pte cover in case u wonder why so cheap

nv buy critical illness or watever

the other insorlan i have is saf term life... and compulsory DPS and CareShield Life

i have no agent serving me, everything auto pilot by giro

 

[buttbERry]

stay at lower class wards

 

[MindMatrix]

Guys, want to check is buying the Rider Shield is more than enough, rather than buying another from insurance company?
the agent told me the insurance cover many illness......

What you guys think?
Care to share?

Thanks alot.

Bro, it'll be helpful for people who're less intuitive if you put in the full name of whatever product that the agent is trying to sell you. A name like "Rider Shield" is open to interpretation, is that the actual name of the product that the agent is selling or is it a generic term that you're using?

 

[Tatuho]

This is about integrated shield plan? What has CPF got to do with IP?

Ya hor, why cpf not allow to use for insurance on medical. When sick, medical is more important. I don't think medisave is sufficient.

 

[V_for_Vanilla]

bro, i mean if say you under Rider , will you buy another policy from insurance?

If you already have rider you are more than adequate imo. Personally I don't even consider rider. Beyond a certain point it is just throwing money to buy peace of mind.

 

[lkong]

one thing abt insurance. jsut buy enough, no need buy extra. these ppl cannot listen too much. no problem keep telling you potential problem. once problem everything tell you cannot

 

[Starabby]

f you're referring to CPF Rider (Integrated Shield Plan rider in Singapore), the answer is: it depends on your age, medical coverage, savings, and risk tolerance.

1. Do you need a CPF Rider?​

A rider is an add-on to your Integrated Shield Plan (ISP) that reduces your out-of-pocket medical expenses such as deductibles and co-insurance.
Pros of having a rider

• Lower cash payment when hospitalized.
• Better protection against large medical bills.
• More predictable healthcare costs.
• Useful if you prefer private hospitals or higher-class wards.

Cons of having a rider

• Additional premium paid in cash every year.
• Premiums increase as you get older.
• New regulations require some co-payment, so riders no longer provide 100% coverage.

Generally, a rider may be worthwhile if:

• You have dependents relying on your income.
• You prefer private hospital treatment.
• You do not want a large unexpected medical bill affecting your savings.
• You are middle-aged or older and want stronger hospital coverage.

You may not need a rider if:

• You have substantial emergency savings.
• You are comfortable using public hospitals and subsidized wards.
• The extra premium strains your budget.

don't buy, it will keep increasing every years a lot and until you cannot afford and give up

 

[a4973]

If you already have rider you are more than adequate imo. Personally I don't even consider rider. Beyond a certain point it is just throwing money to buy peace of mind.

I feel the same as you so I'm not trolling when I ask how / what do you determine that "certain point" is? Thank you

 

[Justrade]

Why hospital insurance still need rider? The balance co-payment can use Medisave?

NO

 

[Laguna123]

NO

Yes, you can use MediSave to pay for remaining co-payments after your insurance handles a hospital bill, subject to prevailing withdrawal limits. [1]

How Co-payments and MediSave Work

• • Co-payment coverage: After your insurance (such as MediShield Life or an Integrated Shield Plan) pays its share, any leftover co-payment or deductible can often be paid using your own or immediate family members' MediSave. [1, 2]
  • Withdrawal limits: MediSave use is bound by daily and procedural caps (for example, up to $1,130 per day for the first two days of hospitalisation and $400 per day thereafter). [1]
  • Cash requirements: Depending on how large the bill is and your specific insurance rider, you might still need to pay some portion in cash if the remaining co-payment exceeds your allowable MediSave withdrawal limits. [1]

 

[Multiversal]

I feel that the government should give free medical treatment to those over 65 if their Medisave and Medishield cannot cover everything..