ntuc incomeshield

[harky]

Hi I need some advice.
I currently helping my mom to pay for her incomeshield using my cpf as she don't have cpf account. Her plan was plan a, age 65. My agency Just call me ask me to pay cash of $68 because cpf only allow to pay Max $800 while the plan is $868. Any other good plan?

 

[kebinu]

Max is $800 for other shield plan also. Set by cpf.

 

[allways]

Hi I need some advice.
I currently helping my mom to pay for her incomeshield using my cpf as she don't have cpf account. Her plan was plan a, age 65. My agency Just call me ask me to pay cash of $68 because cpf only allow to pay Max $800 while the plan is $868. Any other good plan?

I younger than you mum, I got to pay $911 - $800 by CPF and $111 by cash and another $464 by cash for plus rider!!!

At this price, I think I got to give up or downgrade when I reach her age.

 

[missangsty]

Hi I need some advice.
I currently helping my mom to pay for her incomeshield using my cpf as she don't have cpf account. Her plan was plan a, age 65. My agency Just call me ask me to pay cash of $68 because cpf only allow to pay Max $800 while the plan is $868. Any other good plan?

your mother already age 65, if switch plans now, you need to be very careful, esp if she has health conditions

 

[lzydata]

Hi I need some advice.
I currently helping my mom to pay for her incomeshield using my cpf as she don't have cpf account. Her plan was plan a, age 65. My agency Just call me ask me to pay cash of $68 because cpf only allow to pay Max $800 while the plan is $868. Any other good plan?

I think IncomeShield is already the cheapest among comparable plans, so if you insist, probably you have to downgrade the policy. As missangsty said, be careful about the pre-existing conditions.

 

[harky]

so far so good for her at the moment which no health problem.. i tot of slowly downgrade..

your mother already age 65, if switch plans now, you need to be very careful, esp if she has health conditions

 

[harky]

hahaah!! the price will go up wont go down...
if she getting age mean i had to pay more and more cash if i still on plan A. currently with my this little salary + own policy doubt i can hang on long. Sigh my agent that time i sign for my mom she did not tell me got CAP!!

If on Plan C is quite safe until 81.

http://www.income.com.sg/insurance/incshield/premium.asp
For an insured aged 75 or below at next birthday : $800
· For an insured aged 76 to 80 at next birthday : $1,000
· For an insured aged above 80 at next birthday : $1,200

I younger than you mum, I got to pay $911 - $800 by CPF and $111 by cash and another $464 by cash for plus rider!!!

At this price, I think I got to give up or downgrade when I reach her age.

 

[dexboi]

nvm.......

 

[henrylbh]

If you are looking for quick and easy way to downgrade plan, there is none. because premium increases with age. and there is a limit to pay using CPF.

My dad is also paying for his mother (my grandmother) and every year I have to help my dad top up cash because CPF deduction has a limit for insurance.

If you are looking to upgrade plan, try switching internally, it might be easier. Your current plan is IncomeShield Plan A. I suggest upgrading to Enhanced IncomeShield Basic. Benefits you have to weigh for yourself.

Quick glance, i prefer Enhanced IncomeShield because they are all 'As Charged'. Premiums WILL BE cheaper if you compare your current plan, but do note that it will be more expensive in the later years.

Save yourself all the hassle. Stick with NTUC as an existing customer. Do read up yea. I also read it up just for you.

Oh, and think of the consequences before downgrading. Can you afford hospital bills if anything happens? Take the premium payments as a form of transferring risks to NTUC. So you don't have to worry next time.

Easy to say that when you are still young and premium is still bearable. But when you retire and go 70 and 80+, the premium including rider will go to 4k to 6k+ and more in future. Then the premium becomes unbearable when you got to dig into your retirement fund. This premium is a sure thing unlike sickness.

 

[harky]

hahah ya ya this is what i think.......
if u earn alot of cos is bearable but if dont earn much i guess it hard for me.

For my case is i am paying for my mom not myself.

So far the only plan i plan for myself is a 15yr term policy
(after i breakeven my current one which i got 10yr ago, close it as i notice recently policy was so good that i bought 10yr ago )


The premium when it reach at the age of (e.g 80yr old)
SO will be $2,412 (plan a) - $1200 = $1212/yr or $101/mth!!

If come to pay cash, ya i cant affort to pay na. My salary is limited

Saw few good site on this (but few yr ago one)
http://patlim.blogspot.sg/2011/10/testing_11.html
http://tankinlian.blogspot.sg/2010/08/buy-basic-medishield-for-elderly.html
http://www.moh.gov.sg/content/dam/m...edisave-approved_Insurance/2013/GE SHP AC.pdf

Recently one
http://www.todayonline.com/voices/many-elderly-cant-afford-insurance

Easy to say that when you are still young and premium is still bearable. But when you retire and go 70 and 80+, the premium including rider will go to 4k to 6k+ and more in future. Then the premium becomes unbearable when you got to dig into your retirement fund. This premium is a sure thing unlike sickness.

 

[dexboi]

Easy to say that when you are still young and premium is still bearable. But when you retire and go 70 and 80+, the premium including rider will go to 4k to 6k+ and more in future. Then the premium becomes unbearable when you got to dig into your retirement fund. This premium is a sure thing unlike sickness.

To each his/her own. If you don't wish to pay so much, then cancel the policy. Nuff said. Nobody is stopping you.

 

[henrylbh]

hahah ya ya this is what i think.......
if u earn alot of cos is bearable but if dont earn much i guess it hard for me.

For my case is i am paying for my mom not myself.

So far the only plan i plan for myself is a 15yr term policy
(after i breakeven my current one which i got 10yr ago, close it as i notice recently policy was so good that i bought 10yr ago )


The premium when it reach at the age of (e.g 80yr old)
SO will be $2,412 (plan a) - $1200 = $1212/yr or $101/mth!!

If come to pay cash, ya i cant affort to pay na. My salary is limited

For your info, I paid almost 40k for Class B1 in SGH due to excess and co-insurance on a Plan A incomeshield. That time no plus rider.

 

[PRUbombz]

I would think a controlled amount of ~$100/month would be much more affordable than a one time payment of $xx,xxx.

 

[harky]

wow that is alot

For your info, I paid almost 40k for Class B1 in SGH due to excess and co-insurance on a Plan A incomeshield. That time no plus rider.

 

[harky]

the problem is no extra cash. CPF have alot but not cash

I would think a controlled amount of ~$100/month would be much more affordable than a one time payment of $xx,xxx.

 

[Asure7]

If you cannot afford extra cash of $100/month......
How are you going to handle the Deductible/Co-insurance (mimum $2K + 10% of bill) when you need to claim ?

How come still on Plan A and never convert to Enhanced medishield?

If you need to switch plan, stick to the same insurer so that any pre-existing illness can still be covered under coverage of the older policy (if the new policy has higher coverage).
If you switch insurer, any pre-existing illnesses will no longer be covered.

 

[harky]

Tht one i dunno.
because i got 2 bro at home.. can contribution together.

My elder bro bought one for my dad while i got for my mom.
As my salary is low.. and i had my own policy to give it hard for me to drag out mthly of 100/mth~!!

If you cannot afford extra cash of $100/month......
How are you going to handle the Deductible/Co-insurance (mimum $2K + 10% of bill) when you need to claim ?

How come still on Plan A and never convert to Enhanced medishield?

If you need to switch plan, stick to the same insurer so that any pre-existing illness can still be covered under coverage of the older policy (if the new policy has higher coverage).
If you switch insurer, any pre-existing illnesses will no longer be covered.

 

[laksa2003]

Y 100 per month?..thought is extra 68 per year? Anyway if cannot, just downgrade to cheapest plan..normally cheapest plan dun need cash top up

 

[harky]

that is example na.............. when getting older price can reach almost like 100/mth

Y 100 per month?..thought is extra 68 per year? Anyway if cannot, just downgrade to cheapest plan..normally cheapest plan dun need cash top up