How much CI coverage is enough?

[fergieisking]

Need some advice on the following qns

Assuming a person is down with late stage cancer

1) Is a solid private shield able to cover all his cancer treatment (chemotherapy, radiotherapy, pills)?

2) If no, how much CI coverage will then be sufficient to cover the treatment that falls outside the cover of a private shield?

3) Roughly how long is the duration for him to recover fully from his illness? This will help me gauge the amount of income loss tt is needed to be covered by insurance.

Thks.

 

[kebinu]

A shield plan will cover all costs except for non standard treatment and consultation, depending on your plan.

Consultation probably costs $60 to $200 before each chemo session or anything.

1-3 chemo session weekly for 3 months for a cycle?

Really depends. Once first round of drugs is used and relapse, a more expensive treatment will always be necessary. For example, a jab can costs $12k.

Cancer treatment can go over $300k easily.

I would say a good coverage for death, with another $100-200k on ci, depending on your cash flow and liability will be sufficient for most.

 

[wts2013]

my brother was diagnosed with stage 4 cancer with 6 mths to live, his son covered him with $30k critical illness ntuc policy, also covered with ntuc incomeshield 100%, no need to pay a single cent of his hospitalisation and treatment. Chose no chemo treatment, passed away in less than 6mths.

Have u read "how doctors die"?

The rest is up to u.

 

[harky]

ntuc incomeshield 100% is with rider?

my brother was diagnosed with stage 4 cancer with 6 mths to live, his son covered him with $30k critical illness ntuc policy, also covered with ntuc incomeshield 100%, no need to pay a single cent of his hospitalisation and treatment. Chose no chemo treatment, passed away in less than 6mths.

Have u read "how doctors die"?

The rest is up to u.

 

[Aerial86]

ntuc incomeshield 100% is with rider?

That will be an older version of NTUC HnS Policy which is no longer available. The rider is called 'Plus Rider" which covers 100% instead the 90%that is provided by 'Assist Rider' now. A very precious gem I would say.

 

[harky]

oh so new one dont cover 100% liao ?

That will be an older version of NTUC HnS Policy which is no longer available. The rider is called 'Plus Rider" which covers 100% instead the 90%that is provided by 'Assist Rider' now. A very precious gem I would say.

 

[Aerial86]

oh so new one dont cover 100% liao ?

In the Policy document for NTUC Assist Rider, you will see that it still covers as charged for the Deductibles and Co-Insurance but there will be a 10% Co-Payment instead of a Co-Insurance.

This Co-Insurance is part of NTUC's Feature and it also explains why it is cheaper for their rider compared to other company.

 

[kebinu]

With a good shield plan, the worry is not about dying as we leave no liability to the next generation.

So, a death cover can achieve that.

A CI coverage, imo, is for cash flow during treatment period and prolonged resting period or anything related.

A $100k or $200k will really do for most of us because our expenses is not that high. (The higher the CI coverage, the higher the premium) So this is the amount I encourage people to insured.

Some insured CI for a million when we are just average joes. Is this really necessary?

 

[harky]

oh no!! so this 10% Co-Payment only NTUC have right??
other company like GE dont have right ...

I bought one is GE. Like dont have 10% Co-Payment
But just to cfm again

In the Policy document for NTUC Assist Rider, you will see that it still covers as charged for the Deductibles and Co-Insurance but there will be a 10% Co-Payment instead of a Co-Insurance.

This Co-Insurance is part of NTUC's Feature and it also explains why it is cheaper for their rider compared to other company.

 

[Aerial86]

oh no!! so this 10% Co-Payment only NTUC have right??
other company like GE dont have right ...

I bought one is GE. Like dont have 10% Co-Payment
But just to cfm again

Yup only NTUC has this. GE is as charged.

 

[sumkong]

I just completed my final cycle of chemo last week. i am really glad i am on the road of recovery. i think five years ago (maybe more, cannot remember), i bought the NTUC Income shield for my whole family (Wife, son, parents and also my mother-in-law). I also bought the rider for everyone that time so that i need not have to pay a single cents. It was mentioned here by some brothers that this rider is no longer exist and it is true. If anyone here still holds this rider, please DO NOT STOP IT.

The whole operation and chemo cost me about 100k. Imagine an average person has to come out with that amount of money in a period of 6 months. Luckily, claims from NTUC Income is pretty efficient.

From my own experience, my advise to all brothers here is to take up similar plan if you have not and are still healthy. I believe this is the bare minimum all must have. Many do not know the importance of such plan until it is too late.

As for 30 critical illness policy, the most affordable one (again, as far as i know) in the market now are the Safra member and NTUC member group insurance. I doubt most insurance agents will reveal these 2 lobangs. Go join Safra if you are a male Singaporean who served NS and/or subscript to be an NTUC memeber to enjoy this benefit. However, the max insured is 200k.

Thanks.

 

[RockyHero]

Get an Early CI Coverage (more expensive), you are more likely to claim for Early CI, CI is not really essential as most insurer already provides TI coverage that pays out if the doctor diagnose that the patient has less than 1 year to live.

 

[fergieisking]

With a good shield plan, the worry is not about dying as we leave no liability to the next generation.

So, a death cover can achieve that.

A CI coverage, imo, is for cash flow during treatment period and prolonged resting period or anything related.

A $100k or $200k will really do for most of us because our expenses is not that high. (The higher the CI coverage, the higher the premium) So this is the amount I encourage people to insured.

Some insured CI for a million when we are just average joes. Is this really necessary?

how did u arrive at this 100k-200k assumption? is it based on estimated duration of recovery say 3-5 years? does your assumption of expenses based on your current lifestyle or is it based on a very frugal lifestyle when u r ill?

 

[Lifeisgreat91]

In the event you do contract early ci and cannot work. your expense actually go up.
your internet/phone/ pub /loans mortgages still have to be paid in addition you would probably spend more, e.g healthier food/ transport/ vitamins and health supplements

 

[kebinu]

In this thread, I'm focusing solely on ci coverage, not touching even work disability monthly payout and early ci yet. Both of these are important to have for a comprehensive coverage.

I will suggest ts to find out more to see if you need it.

 

[gantan88]

Hi Bro,

1) Private shield plan covers all inpatient bills and some outpatient cancer treatments like chemotherapy, radiotherapy etc. Pills, i don't think so, that is medication, it is better to check with the respective company.

2) How much CI is need? .... CI coverage/payout is usually to cover a person's expenses during the period he is seeking treatment and is unable to work (loss of income). Think along this line. If that person's expenses is $5000 a month, $60000 a year, then a payout of 3 years (of loss of income) would need about $180000 coverage. This is e.g.

3) This question hard to answer. I know a case. The person leukemia. Leukemia once diagnosed considered as final stage. The person went through 6 phases of chemo, 1 phase each month, total 6 months, total close to $700k... and he recovered. Different kind of cancer different duration. Loss of income period possibly = treatment period + recovery period + if there is any complications that prolong the treatment period or recovery period. E.g after chemo, body immune system very weak, easily get infection, pneumonia etc... It's really sad. And yes, shield plan is important.

Cheers!

Need some advice on the following qns

Assuming a person is down with late stage cancer

1) Is a solid private shield able to cover all his cancer treatment (chemotherapy, radiotherapy, pills)?

2) If no, how much CI coverage will then be sufficient to cover the treatment that falls outside the cover of a private shield?

3) Roughly how long is the duration for him to recover fully from his illness? This will help me gauge the amount of income loss tt is needed to be covered by insurance.

Thks.

 

[s_kengnam]

1) Is a solid private shield able to cover all his cancer treatment (chemotherapy, radiotherapy, pills)?

Yes. From my mum unfortunate incident, the private shield plan (AIA) will cover chemotherapy, radiotherapy, and cancer pills. Cancer treatment pills, even till now, 3 years after she got cancer. However, pills like calcium which is also required cannot be claim as they are not cancer pills. All things related to cancer are rather expensive, for example 1 month supply of that pill cost around $300. Thus its impt to get a SOLID SHIELD PLAN.


2) If no, how much CI coverage will then be sufficient to cover the treatment that falls outside the cover of a private shield?
As I mention, certain pills like calcium supplement cannot be claimed. However, those normally are not that expensive. And my mum also seek advise from TCM, which cannot be claimed. For her case, she still can move freely, thus a personal day care personnel (for example, maid) is not required. I believe minimum coverage for CI should be 1 year annual income + 100k buffer.


3) Roughly how long is the duration for him to recover fully from his illness? This will help me gauge the amount of income loss tt is needed to be covered by insurance.

3 years.

Hope this help you, any more question can pm me. I seldom revisit threads.

Thanks.

 

[Alfdorel]

1) Is a solid private shield able to cover all his cancer treatment (chemotherapy, radiotherapy, pills)?

- In most case, it's enough. Covering with post and pre hospitalisation consultation up till a number of days depending on your shield plan from which company.

2) If no, how much CI coverage will then be sufficient to cover the treatment that falls outside the cover of a private shield?

- A person's daily expenses will have to take into account now. Monthly bills(Phone, Car, House, Kids? etc), Food, Health product, medical aids etc. Let's presume a person's wouldn't be able to work for the next 5-8 years until he is fully recovered. So it depends on individual standard of living expenses.

3) Roughly how long is the duration for him to recover fully from his illness? This will help me gauge the amount of income loss tt is needed to be covered by insurance.

- Really depends on what kind of cancer, some may die, some take years to recover. Even doctors cant give you a time frame.

 

[neanea]

I was looking at aviva. Anyone working directly for aviva here?