NTUC income shield VS Prudential PRUshield

[iAdvisor]

Aviva has the lowest claim return rates checked out below link
Medisave-approved Insurance | Ministry of Health

My folks are previously covered under Income and Aviva but seriously like iAdvisor say better to have cash in hand. Aviva's claims processing takes months.

Whenever I sign a document with my previous IFA, she takes 2 weeks to hand in and best she never wanted me to fill in the dates for me. I have a reign of ex-agents who like to do the same.

As personal experience, yes, aviva's administrative procedure are really slow.

Just personal experience.

 

[XRegaX]

In private shields,

GE, Income, Aviva are of the same tier as you can see they are the only insurers who offer in-patient psychiatric treatment.

Whilst AIA Shield offers this
i. Post-Hospitalisation Treatment
(within 100 days after Confinement)

ii. Extended Post-Hospitalisation Treatment for 30 Critical Illnesses
(within 100 days following expiry of Post-Hospitalisation Treatment)"

Which is also unique to AIA. Such unique factors exist for marketing purposes and see how fast an adviser can clinch the deal with the policyholder.

The rest are secondary, agree IAdvisor?

 

[iAdvisor]

In private shields,

GE, Income, Aviva are of the same tier as you can see they are the only insurers who offer in-patient psychiatric treatment.

Whilst AIA Shield offers this
i. Post-Hospitalisation Treatment
(within 100 days after Confinement)

ii. Extended Post-Hospitalisation Treatment for 30 Critical Illnesses
(within 100 days following expiry of Post-Hospitalisation Treatment)"

Which is also unique to AIA. Such unique factors exist for marketing purposes and see how fast an adviser can clinch the deal with the policyholder.

The rest are secondary, agree IAdvisor?

I do not understand what you mean by 'the rest are secondary'.

But in terms of shield plan, those you mentioned are indeed, imo, value for money. With ntuc being the unique one for sustainability.

 

[XRegaX]

Many individuals out there with bad experience with a single insurer, would think that even if the product is awesome. But will still stay away from that company.

Things in life are like that. NTUC is a co-operative which can offers cheap products for their policyholders, which most other companies can't.

If you hold NTUC shares, you should look at their dividends and you might laugh your head off.

Most sales industries has more bad blood than good blood. For the same policy I held with AIA, I have lost count of the changing agents servicing. Most ppl can't last long in this industry < usually these are the bad blood. lol

 

[XRegaX]

Thanks for that number! Is it advertised? It's sad that it's still lower than ntuc. I still love ntuc on this. Has.

if you have helped your client claim from NTUC, you should know what's the pain. If not, enjoy the process if you do.

 

[Suleyman]

In private shields,

GE, Income, Aviva are of the same tier as you can see they are the only insurers who offer in-patient psychiatric treatment.

Whilst AIA Shield offers this
i. Post-Hospitalisation Treatment
(within 100 days after Confinement)

ii. Extended Post-Hospitalisation Treatment for 30 Critical Illnesses
(within 100 days following expiry of Post-Hospitalisation Treatment)"

Which is also unique to AIA. Such unique factors exist for marketing purposes and see how fast an adviser can clinch the deal with the policyholder.

The rest are secondary, agree IAdvisor?

Curious what you mean by that. All of them have their 'unique' feature which (as you pointed out) seems to be more marketing spiel than any real big deal.

As far as I can tell, all of the plans (on their own) are about equal.

I recall doing a comparison even of premium to be paid assuming I kick the bucket at 80, and another one assuming I live to 90. The total amount isn't drastically different for all of them, and it's a thousand or two, either way, which isn't a big deal considering that's spread across almost 50 years.

I do not understand what you mean by 'the rest are secondary'.

But in terms of shield plan, those you mentioned are indeed, imo, value for money. With ntuc being the unique one for sustainability.

Just curious what you mean by sustainability. As I mentioned, the premiums aren't that different across all the different companies.

 

[XRegaX]

Curious what you mean by that. All of them have their 'unique' feature which (as you pointed out) seems to be more marketing spiel than any real big deal.

As far as I can tell, all of the plans (on their own) are about equal.

I recall doing a comparison even of premium to be paid assuming I kick the bucket at 80, and another one assuming I live to 90. The total amount isn't drastically different for all of them, and it's a thousand or two, either way, which isn't a big deal considering that's spread across almost 50 years.



Just curious what you mean by sustainability. As I mentioned, the premiums aren't that different across all the different companies.

Read this few links:
Comparison of MediShield and Private Integrated Plans | Ministry of Health

Claim return rates

 

[XRegaX]

Curious what you mean by that. All of them have their 'unique' feature which (as you pointed out) seems to be more marketing spiel than any real big deal.

As far as I can tell, all of the plans (on their own) are about equal.

I recall doing a comparison even of premium to be paid assuming I kick the bucket at 80, and another one assuming I live to 90. The total amount isn't drastically different for all of them, and it's a thousand or two, either way, which isn't a big deal considering that's spread across almost 50 years.



Just curious what you mean by sustainability. As I mentioned, the premiums aren't that different across all the different companies.

Personally I think if you got a constraint budget, go for the cheapest. There is no supreme plan as long as medisave-approved is concerned.

If you have idle cash in bank, you can go for the highest cover-all plans such as SmartCare Optimum.

 

[kerplunk230481]

Read through this thread but I think the comparison was based on the Prushield rider that covers whole deductible and co-insurance. Notice that Prushield now has a new rider called Lite which is quite similar to the Incomeshield assist rider, that the premiums are lower but basically deductible is 50% so instead of $3k , you pay $1.5 k max per year. Whereas NTUC one is 10% up to $3k.

Both got pro and cons but I like both idea in that the premiums are sustainable for average person in old age. Difference I guess to me is that for smaller hospital bills like around$10k, then you will save about from Income.

 

[iAdvisor]

Read through this thread but I think the comparison was based on the Prushield rider that covers whole deductible and co-insurance. Notice that Prushield now has a new rider called Lite which is quite similar to the Incomeshield assist rider, that the premiums are lower but basically deductible is 50% so instead of $3k , you pay $1.5 k max per year. Whereas NTUC one is 10% up to $3k.

Both got pro and cons but I like both idea in that the premiums are sustainable for average person in old age. Difference I guess to me is that for smaller hospital bills like around$10k, then you will save about from Income.

Great information!

Price at the sweet spot.by benefit, any bill below 15k, ntuc is much better. If even smaller bill say 5k, with assist rider, u pay 500, with prushield extra lite, you pay 1500.

The difference of 1500, I still think ntuc it's better.

 

[kerplunk230481]

Agreed think it depends if you think most of time you will stay at A or Private cos even if shield plan covers hospital bill and post , the follow up consultations are not subsidized after that I guess.

 

[Hellooo]

TS, in the end you sign up which one?

 

[derazor]

Yeah very nice discussion at the end which is the better one?

Just wondering how much is the rider per year to nullfily the co-share and the deductible portion.

Cheers.

 

[sanjiko]

I dislocated my knee in 06 and sent to A&E doctor just helped me to pushed back my knee cap to original
Dislocated my knee cap in 2013 and my ligament torn ..
Still need to disclose?

 

[iAdvisor]

Yeah very nice discussion at the end which is the better one?

Just wondering how much is the rider per year to nullfily the co-share and the deductible portion.

Cheers.

I believe each plan has its own pros and cons. NO exact plan is better than the other, since they all difference slightly in benefit and pricing. it really depends on individual, so you must understand how they work, and if it suits you.

Its good to cover 100% of the co-share and deductible, but is the premium affordable in long term? Although NTUC's cash rider is cheaper, but it doesn't cover full, so is it worth?

This is where the advisor plays an important role, to help client make the decision. Of course, not from someone who are tied to a single source.

 

[iAdvisor]

I dislocated my knee in 06 and sent to A&E doctor just helped me to pushed back my knee cap to original
Dislocated my knee cap in 2013 and my ligament torn ..
Still need to disclose?

Yes you must declare.

 

[TheresHope]

I dislocated my knee in 06 and sent to A&E doctor just helped me to pushed back my knee cap to original
Dislocated my knee cap in 2013 and my ligament torn ..
Still need to disclose?

Yes you must declare.

Hi iAdvisor,

I'm leaning towards NTUC Enhanced IncomeShield Plan.

I have almost the same injury as sanjiko, injury to my knee. If i make such declaration in my application, can i still make claims if such injury were to happen again?

Please advice.

 

[iAdvisor]

Hi iAdvisor,

I'm leaning towards NTUC Enhanced IncomeShield Plan.

llmost the same injury as sanjiko, injury to my knee. ake such declaration in my application, can i still make claims if such injury were to happen again?
Please advice.

After declaration, if the insurer accept your condition, then future claims are valid.

Declaring it, allows underwriter to estimate the risk, and possibility to accept the condition.If not declare, it will not be covered.

 

[chopra]

update on 2-jul-2013:

 

[omg_ikilledkenny]

Actually, a lot of people disregarded that you can use cpf medisave to pay from. Consider if you have monies in cpf tt can generate enough interest to cover the premium. And is it su stainable? For eg. With 4% interest rate guaranteed, 20k in cpf medisave guarantees 800 per yr which can cover the medishield pretty decently.. The rider on the other Hand touches into your cash flow, but can be negligible. I may not be v updated, but this is what I know.. Will recommend you to get best cover possible from your situation