Getting started with insurance

[MrPippen]

If you want coverage till 99, NTUC does have it till 99.

With thyroid, even without medical check, you have to declare as well.

I have quoted 1 company in the previous page.

Do you think the cash rider for shield plans is necessary? I believe I got the most expensive one. I'm on Prudential. I believe new plans now need to pay, so I am on the old version so I totally no need to pay if I stay in private?

I shouldn't change provider right, no matter how sucky the agent is.

 

[boredboiboi]

Actually not very well versed in this, and i noted more expensive for smoker.
I though should over longer in case she kena at 71 (assuming cover only till 70)?
No kids so dont think need whole life.

We have manualife retireready plus (think got TDP) and a GE hospital plan only.

She has thyriod condition so best can dont medical check.

Can you recommend, hope not too expensive.

Retireready plus is for retirement income. The tpd is additional payout, not a lump sum pay out.

Wholelife has multiplier to boost your coverage till age 70. After 70 multiplier ends and coverage is minimum. Few days back i quoted for a smoker age 37 male. The premium turn out to be almost same for both term and wholelife premium and wholelife pays 25 years and term pays till age 70. In the end wholelife is a better option. For condition that u mentioned. Be it need medically check up or not depends what the underwriter says, because u must declare.
I have seen claims being rejected because condition nv delcared. But if u have report on hand, can submit in together for underwriting.
Wanted to understand more before i quote for you term and wholelife.

 

[winthony]

Do you think the cash rider for shield plans is necessary? I believe I got the most expensive one. I'm on Prudential. I believe new plans now need to pay, so I am on the old version so I totally no need to pay if I stay in private?

I shouldn't change provider right, no matter how sucky the agent is.

Hmm, the cash rider mainly caps the amount you pay to a specific amount for a new policy.

So if its a new plan, with the most expensive rider,you are only responsible in paying 10% of the co-insurance for your bill capped at 3k/year. Of cos, the most expensive riders come with other perks depending on companies.

In your case, im not sure when you got it and how the product is structured. But if its before the introduction of the co-payment portion, you prob wont have to fork out money but private is subjective if its panel or not.


About changing provider, depending on your age and current policy etc, sometimes the premium saved from getting another ISP can easily surpass the 3k annual limit.

 

[boredboiboi]

Hmm, the cash rider mainly caps the amount you pay to a specific amount for a new policy.

So if its a new plan, with the most expensive rider,you are only responsible in paying 10% of the co-insurance for your bill capped at 3k/year. Of cos, the most expensive riders come with other perks depending on companies.

In your case, im not sure when you got it and how the product is structured. But if its before the introduction of the co-payment portion, you prob wont have to fork out money but private is subjective if its panel or not.


About changing provider, depending on your age and current policy etc, sometimes the premium saved from getting another ISP can easily surpass the 3k annual limit.

I read online, the most expensive rider, covers half of the co insurance which is 5% and cap at 3k. Not 10%

 

[winthony]

I read online, the most expensive rider, covers half of the co insurance which is 5% and cap at 3k. Not 10%

That's for Pru right? Haha he already on Pru so I dont think he will go back to sign an ISP back with Pru.

I referred to Company A's ISP. RHI is 5% capped 3k.

All in all, rider cap at 3k

 

[boredboiboi]

That's for Pru right? Haha he already on Pru so I dont think he will go back to sign an ISP back with Pru.

I referred to Company A's ISP. RHI is 5% capped 3k.

All in all, rider cap at 3k

Ya most insurers most expensive rider 5% co payment and cap at 3k.
Company A hosp plan is currently the most complicated. The what pre authorise letter or something de

 

[MrPippen]

Hmm, the cash rider mainly caps the amount you pay to a specific amount for a new policy.

So if its a new plan, with the most expensive rider,you are only responsible in paying 10% of the co-insurance for your bill capped at 3k/year. Of cos, the most expensive riders come with other perks depending on companies.

In your case, im not sure when you got it and how the product is structured. But if its before the introduction of the co-payment portion, you prob wont have to fork out money but private is subjective if its panel or not.


About changing provider, depending on your age and current policy etc, sometimes the premium saved from getting another ISP can easily surpass the 3k annual limit.

Signed this in 2013, took the most expensive option. Agent/friend told me all fees covered. True?

 

[winthony]

Ya most insurers most expensive rider 5% co payment and cap at 3k.
Company A hosp plan is currently the most complicated. The what pre authorise letter or something de

I think pre-authorisation applies to most insurers on going to private panel etc.

Signed this in 2013, took the most expensive option. Agent/friend told me all fees covered. True?

Before the implementation of the co-payment, yes if its the most expensive option then you are prob covered 100% for all your medical bills. But still have to check if you visit a non-panel private doctor if its 100%. Im not too familiar with the PRU ISP before the co-payment. If i have the policy documents perhaps I would be clearer

 

[MrPippen]

I think pre-authorisation applies to most insurers on going to private panel etc.




Before the implementation of the co-payment, yes if its the most expensive option then you are prob covered 100% for all your medical bills. But still have to check if you visit a non-panel private doctor if its 100%. Im not too familiar with the PRU ISP before the co-payment. If i have the policy documents perhaps I would be clearer

Thanks.

 

[BBCWatcher]

Before the implementation of the co-payment, yes if its the most expensive option then you are prob covered 100% for all your medical bills.

For covered services.

Also, Prudential has what's called "claims-based pricing" with its most expensive riders (but not with the least expensive one) for its private hospital Integrated Shield plan. And basically if you have a claim, or claims, your rider premium increases, a lot, and stays increased until you stop having claims for a while.

There's no free lunch, really. The most expensive premium can, in fact, get even more expensive.

Don't like this? No problem. Either switch to the least expensive rider, or switch to one of Prudential's public hospital Integrated Shield plans. (They have two: PRUShield Plus and PRUShield Standard.)

 

[MrPippen]

For covered services.

Also, Prudential has what's called "claims-based pricing" with its most expensive riders (but not with the least expensive one) for its private hospital Integrated Shield plan. And basically if you have a claim, or claims, your rider premium increases, a lot, and stays increased until you stop having claims for a while.

There's no free lunch, really. The most expensive premium can, in fact, get even more expensive.

Don't like this? No problem. Either switch to the least expensive rider, or switch to one of Prudential's public hospital Integrated Shield plans. (They have two: PRUShield Plus and PRUShield Standard.)

Yep, pretty confused about all these, so I thought I wanted to speak to a Pru adviser for clarity. Shrugs. Maybe I should call the hotline and ask for a change of agent?

 

[MrPippen]

For covered services.

Also, Prudential has what's called "claims-based pricing" with its most expensive riders (but not with the least expensive one) for its private hospital Integrated Shield plan. And basically if you have a claim, or claims, your rider premium increases, a lot, and stays increased until you stop having claims for a while.

There's no free lunch, really. The most expensive premium can, in fact, get even more expensive.

Don't like this? No problem. Either switch to the least expensive rider, or switch to one of Prudential's public hospital Integrated Shield plans. (They have two: PRUShield Plus and PRUShield Standard.)

I haven't claim before, but the premiums like sky-rocket sia.

 

[winthony]

I haven't claim before, but the premiums like sky-rocket sia.

Its to encourage people not to claim or visit hospital unnecessarily haha

End of the day, if claim rate increase, prudential would increase its premium to keep up to it

 

[MrPippen]

OK, I am officially annoyed with my agent. Just sent her a text at around 4pm. No reply.

I know it's not a huge policy or what not, but all I was asking was for a meet-up and I told her she can decide the date and time since I am flexible on my hours. I only wanted to choose the location and I gave her 3 options! One was near my home and the other two locations were central. Was MrPippen being unreasonable?

 

[boredboiboi]

OK, I am officially annoyed with my agent. Just sent her a text at around 4pm. No reply.

I know it's not a huge policy or what not, but all I was asking was for a meet-up and I told her she can decide the date and time since I am flexible on my hours. I only wanted to choose the location and I gave her 3 options! One was near my home and the other two locations were central. Was MrPippen being unreasonable?

Not unreasonable. But maybe they are now more of doing zoom. Maybe u wan to request for zoom?

 

[MrPippen]

Not unreasonable. But maybe they are now more of doing zoom. Maybe u wan to request for zoom?

No courtesy to even reply meh?

 

[xtwis7]

This is what happens when the servicing is not delivered. Being in the line, if I can help I will but to disappoint you, I am not from Pru and I also don’t have someone I feel trustworthy to recommend you.

The agent contacted must be thinking I’m not earning a single cent and yet got to do servicing so in the most extreme situation, maybe it might make even more sense to switch companies (which I still won’t recommend except in extreme situations like this).

OK, I am officially annoyed with my agent. Just sent her a text at around 4pm. No reply.

I know it's not a huge policy or what not, but all I was asking was for a meet-up and I told her she can decide the date and time since I am flexible on my hours. I only wanted to choose the location and I gave her 3 options! One was near my home and the other two locations were central. Was MrPippen being unreasonable?

 

[MrPippen]

This is what happens when the servicing is not delivered. Being in the line, if I can help I will but to disappoint you, I am not from Pru and I also don’t have someone I feel trustworthy to recommend you.

The agent contacted must be thinking I’m not earning a single cent and yet got to do servicing so in the most extreme situation, maybe it might make even more sense to switch companies (which I still won’t recommend except in extreme situations like this).

If I had a choice, I would gladly switch. But bobian, can't.

Oh well. Nothing I can do then.

 

[boredboiboi]

If I had a choice, I would gladly switch. But bobian, can't.

Oh well. Nothing I can do then.

Trying calling pru to request change of agent? Or your circle of fren for any agent from pru to recommend.

 

[MrPippen]

Trying calling pru to request change of agent? Or your circle of fren for any agent from pru to recommend.

I didn't want to call Pru because I think it doesn't look good for the agent. Plus all I have with them is a hosp plan, so I don't want to create unnecessary trouble. But I guess I might have to..