Getting started with insurance

[moejoseph]

Hi all, recently I just joined working industry and looking to buy medical insurance for myself.

I have read through CPF website for information regarding MediShield Life and Integrated Shield Plan. I understand that MediShield Life is a very basic plan and it does not cover a lot. We should get medical insurance from private insurer, so that we will have additional insurance coverage on top of MediShield Life.

Question:
Let’s say if things happen (touch wood), can I file claim on from both MediShield Life and private insurer? Or claim MediShield Life until exceed its coverage limit first, then claim the rest from private insurer? How does it works actually?

The ISP will cover the Medishield life portion, so the private insurer will take over from there once u have signed up. Just claim from the insurer will do

 

[giraffey]

Hi all, recently I just joined working industry and looking to buy medical insurance for myself.

I have read through CPF website for information regarding MediShield Life and Integrated Shield Plan. I understand that MediShield Life is a very basic plan and it does not cover a lot. We should get medical insurance from private insurer, so that we will have additional insurance coverage on top of MediShield Life.

Question:
Let’s say if things happen (touch wood), can I file claim on from both MediShield Life and private insurer? Or claim MediShield Life until exceed its coverage limit first, then claim the rest from private insurer? How does it works actually?

insurer only. for the main hospitalisation stay, the claim is assisted by the hospital during admission where they will get the LOG as well. you would just need to submit the claim form seperately (or just contact agent for assistance) for the other claims not part of the hospital bill such as pre and post.

 

[Samaritan101]

Hi all, recently I just joined working industry and looking to buy medical insurance for myself.

I have read through CPF website for information regarding MediShield Life and Integrated Shield Plan. I understand that MediShield Life is a very basic plan and it does not cover a lot. We should get medical insurance from private insurer, so that we will have additional insurance coverage on top of MediShield Life.

Question:
Let’s say if things happen (touch wood), can I file claim on from both MediShield Life and private insurer? Or claim MediShield Life until exceed its coverage limit first, then claim the rest from private insurer? How does it works actually?

If you are PR/Local, it's via e-filling for claims. Currently in the market has 5% co-payment if u opt for the comprehensive hospitalisation unless u applied before 3 March 2018 then its 100% coverage.

For foreigners, it's reimbursement basis.

 

[BBCWatcher]

If you are PR/Local, it's via e-filling for claims....

For foreigners, it's reimbursement basis.

That's not a given. Private medical providers, in particular, can and often do demand up front payment or a down payment no matter what your immigration status is.

 

[Samaritan101]

That's not a given. Private medical providers, in particular, can and often do demand up front payment or a down payment no matter what your immigration status is.

Private hospital will asked if you have insurance. Usually the private hospital has designated specialists doctors who will register the patient. Foreigners will need to pay upfront. Its true. For claims purpose from insurance is reimbursement means for foreigners.

I think you are referring for LOG. Private hospitals do ask for upfront payment or down payment of partial bill. If the client approach his or her insurer company for pre-approval then its fuss free for the patient as the insurer will liase with the hospital for the bill. Foreigners, Locals and PRs preferably get LOG approval from their insurer company

 

[BBCWatcher]

It’s not a given, Samaritan101. Private medical providers in particular are under no obligation to accept any insurance carrier’s promises. There have been such cash demand reports from patients, in this forum and elsewhere. They’ve had to deal with certain providers on a reimbursement basis, meaning full or partial cash payment up front if they wish to do business with those providers.

Indeed, private medical providers aren’t obligated to accept every patient who walks in the door, with or without insurance. They can set their prices, they can choose what forms of payment they accept, and they can choose their patients.

Of course, the other choice is to try to find another provider that accepts your particular insurance company’s promises.

 

[swat444]

Hi everyone,

I came across this article and have been pondering over it.
https://www.areyouready.sg/YourInfo...-for-the-sandwich-generation_SUT20190428.aspx Original from Straits Time but behind Paywall. So i found an identical one from another site. Not helping to promote the person site or anything.

My main consideration is the premium coverage.
Isit really necessary?

Adrian (Dad): $12000
Maggie (Mum): $3000

Adrian: The policies stated Death $2.4Mil, TPD $3.1Mil and CI $1.3Mil.
Maggie: Death and TPD $1.0Mil and CI $550,000
All are 20-year term.

$150,000 x 20yrs = $300,000
That is 300,000 just dumped into Premiums!


=> I actually started to ponder over this as an agent recently approached and suggest a coverage of $1.0Mil.

This article is making me wonder if high amounts are really the norm?
I do see people with general amounts like the article example where Adrain and Maggie have $40,000 ~ $100,000.

=> Been trying to find reviews of her past articles or this recent article. Hope to have a view of POV here.

Thank you everyone!

 

[Bigoya]

Hi everyone,

I came across this article and have been pondering over it.
https://www.areyouready.sg/YourInfo...-for-the-sandwich-generation_SUT20190428.aspx Original from Straits Time but behind Paywall. So i found an identical one from another site. Not helping to promote the person site or anything.

My main consideration is the premium coverage.
Isit really necessary?

Adrian (Dad): $12000
Maggie (Mum): $3000

Adrian: The policies stated Death $2.4Mil, TPD $3.1Mil and CI $1.3Mil.
Maggie: Death and TPD $1.0Mil and CI $550,000
All are 20-year term.

$150,000 x 20yrs = $300,000
That is 300,000 just dumped into Premiums!


=> I actually started to ponder over this as an agent recently approached and suggest a coverage of $1.0Mil.

This article is making me wonder if high amounts are really the norm?
I do see people with general amounts like the article example where Adrain and Maggie have $40,000 ~ $100,000.

=> Been trying to find reviews of her past articles or this recent article. Hope to have a view of POV here.

Thank you everyone!

Case by case basis. Buy only what you need, not what others buy.

A person who earns $100k per year but spends $2k per month on Needs VS A person who earns $30k per year and spends $2k per month on Needs. Who do you think needs a higher coverage?

Go ponder.

 

[redefine_style]

Hi everyone,

I am looking into reviewing my insurance policy and would like to check with you if I am adequately covered and what should I add on to my existing coverage.

I am 30yo right now and assured a basic sum of $100,000 as follows:

AIA Hsg Max A for medical protection
AIA Solitaire Personal Accident for accident protection
AIA Family First Protect - investments

Hope to seek your advice and thanks for your help guys.

 

[boredboiboi]

Hi everyone,

I am looking into reviewing my insurance policy and would like to check with you if I am adequately covered and what should I add on to my existing coverage.

I am 30yo right now and assured a basic sum of $100,000 as follows:

AIA Hsg Max A for medical protection
AIA Solitaire Personal Accident for accident protection
AIA Family First Protect - investments

Hope to seek your advice and thanks for your help guys.

Any dependent? U have got the basic, but not the critical illness coverage and disability income protection.

 

[redefine_style]

Any dependent? U have got the basic, but not the critical illness coverage and disability income protection.

I do not have dependents, hence din get the life insurance. I believe I can get it after i am married?

I am considering on the critical illness coverage but not too sure about the disability. Is it advisable to get both?

Also, like I mentioned earlier, I am assured for 100K right now. Is that adequate or now I should consider increasing my coverage? Thanks.

 

[boredboiboi]

I do not have dependents, hence din get the life insurance. I believe I can get it after i am married?

I am considering on the critical illness coverage but not too sure about the disability. Is it advisable to get both?

Also, like I mentioned earlier, I am assured for 100K right now. Is that adequate or now I should consider increasing my coverage? Thanks.

Dependent can be your parents too. Critical illness coverage is also a form of income replacement when u are ill. Getting both or not has to depends on your budget, critical illness rule of thumb is about 3-5 years of income.

 

[Bigoya]

Hi everyone,

I am looking into reviewing my insurance policy and would like to check with you if I am adequately covered and what should I add on to my existing coverage.

I am 30yo right now and assured a basic sum of $100,000 as follows:

AIA Hsg Max A for medical protection
AIA Solitaire Personal Accident for accident protection
AIA Family First Protect - investments

Hope to seek your advice and thanks for your help guys.

$100k (presumably on AIA Family First Protect) is gravely under covered for a 30 year old who's out working.

Any riders attached to your Max A plan? If not, go get 1.

Solitaire Personal Accident - In the event of an accident, would medical expenses be actually claimable from your employee's benefit? If yes, you don't need it.

And lastly, why all plans from AIA? Look around, there are better plans outside.

 

[erickz]

i am single and looking to review my life insurance coverage, mainly TPD, CI and medical insurance. is there any difference if I go to a IFA or if I go direct to the insurance company? any difference in premium paid and the policy package as well? appreciate all the advise.. thanks..

 

[boredboiboi]

i am single and looking to review my life insurance coverage, mainly TPD, CI and medical insurance. is there any difference if I go to a IFA or if I go direct to the insurance company? any difference in premium paid and the policy package as well? appreciate all the advise.. thanks..

Ifa = look at most offered at once.
Direct = have to go individual which takes up more time.
Premium should be the same be it ifa or direct.

 

[Miccla]

i am single and looking to review my life insurance coverage, mainly TPD, CI and medical insurance. is there any difference if I go to a IFA or if I go direct to the insurance company? any difference in premium paid and the policy package as well? appreciate all the advise.. thanks..

Hi...the pricing and policy packages should be the same.. but the promotion will be different..

 

[Miccla]

Hi everyone,

I am looking into reviewing my insurance policy and would like to check with you if I am adequately covered and what should I add on to my existing coverage.

I am 30yo right now and assured a basic sum of $100,000 as follows:

AIA Hsg Max A for medical protection
AIA Solitaire Personal Accident for accident protection
AIA Family First Protect - investments

Hope to seek your advice and thanks for your help guys.

To find out if a coverage is enough, it depends on the number of dependents, ur income and expenses etc...

If u are interested, u can always look for me..
I do a more precise calculation and advice..

 

[Samaritan101]

Hi everyone,

I am looking into reviewing my insurance policy and would like to check with you if I am adequately covered and what should I add on to my existing coverage.

I am 30yo right now and assured a basic sum of $100,000 as follows:

AIA Hsg Max A for medical protection
AIA Solitaire Personal Accident for accident protection
AIA Family First Protect - investments

Hope to seek your advice and thanks for your help guys.

AIA HSG Max A - I agreed with Bigoya if you have not purchased the rider coverage, get it now. Buy from AIA since you already have the HSG Max A plan. I like AIA. HSG plan good coverage and very competitive

AIA Solitaire Personal Accident - I saw AIA has just launched new PA plan via Social Media. It's called PA100 if I am not wrong. Quite cheap for premium just to enhance your death and disability portion for $1M.

AIA Family First Protect (Investment) - You may think getting all stages of CI or disability plan to enhance your coverage. Aviva CI plan not bad, quite attractive.

If not you may start planning your retirement funds hehe.

You can DM me if you are looking for Aviva, GE, Pru and AIA agents. My friends are in this line and doing quite well I can ask for accurate quotation if you do not want to meet up with them

 

[gnoyihz]

Hi all,

I am currently reviewing my existing insurance policies and seek advise if the following are adequate:-

SAF (Aviva) Group Term Life - $500k
SAF (Aviva) Group Personal Accident - $300k
SAF (Aviva) Group Living Care - $250k

NTUC Whole life - $50k
NTUC Enhanced Incomeshield & Rider

I am generally more concern on the years after 70 as most of my term expires when i'm 70. Don't want to be a burden my family with hospitalization bills when i'm old...lol

 

[Mr. Wood]

Hi all,

I am currently reviewing my existing insurance policies and seek advise if the following are adequate:-

SAF (Aviva) Group Term Life - $500k
SAF (Aviva) Group Personal Accident - $300k
SAF (Aviva) Group Living Care - $250k

NTUC Whole life - $50k
NTUC Enhanced Incomeshield & Rider

I am generally more concern on the years after 70 as most of my term expires when i'm 70. Don't want to be a burden my family with hospitalization bills when i'm old...lol

incomeshield + rider will take care of yr hospitalization bills less co-payment right? assuming they no come out pattern and prata law.
wht u maybe can consider is whether u have the means for post hospitalisation medication, follow ups, physio, treatment.