Marketing strategy perhaps? Their rider is a lot cheaper than those companies which cover full.
Shield Plan
- Thread starter teckgamer
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Marketing strategy perhaps? Their rider is a lot cheaper than those companies which cover full.
Should we choose NTUC or the rest?
KeyboardWarrior
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Insurance is basically transferring your risk to the company, so the answer to your question is can you take the risk? If your bill is 10k then the 10% is just 1k so no big deal, most of us can handle that. However, what if your bill is 100k or even more? Personally, I rather not be penny wise pound foolish.
It seems NTUC is out . Next is which of the rest if the co to choose?
Not sure if I can link to external sites, but you can google MOH shield comparison and you can do your own comparison between companies for yourself. The documents are in pdf format.
Look at the Class A file for restructured gov hospital coverage, and Private for non pro-rated coverage in private hospitals.
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Just to correct this part, no matter how big your bill is, there is a cap to NTUC if you have the rider. Which means for e.g if your bill is 100k, the maximum payable by you is only 3k. The 10% is capped.
What if every year you get admitted to hospital and the medical is always below $3k? Isn't that sucks?
That's why you should decide how much you wish to self-insure. It's possible to not get any hospital and surgical insurance at all, but that just means you got to fork out everything on your own when **** happens.
If you want to pay more now to be fully covered, that's what you should do.
If you want to save more now and not be fully covered, that's what you should do.
Also, remember that all these plans are inexpensive, for what they do for an individual.
Last thing I can add is don't be penny wise pound foolish. It's the poorer people that can't afford NOT to be insured. The rich people can pay through their massive bank $ and wouldn't flinch.
Well that will definitely be up to individual's preference to choose how they want to be insured. Some people don't mind paying that 10% since it can be deducted from medisave, in return of their savings in cash over long term. Some people don't.
As of today, NTUC enable a cash savings of about 20k over 50yr for someone in their twenties compared to the other as charged plans. But of course, premiums is one thing, feature of each company's plan is another. Whichever makes you feel most at ease
Err.. NTUC doesn't owe Singaporeans anything.
Their structuring of their shield plan isn't as bad as you make it out to be. I would say all companies are about equal. Some more equal than others? Depending of course on which benefits are more relevant to you.
The point is just choose one based on your preference. It's one of the first things you should look at when planning for yourself/your family.
No, I've stated I'm with Prudential.
can compare ntuc with prudential?
Lifeisgreat91
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everything u need is stated here
Comparison of MediShield and Private Integrated Plans | Ministry of Health
sounds like a common scare tactic used by agents. Do you get admitted to hospital every year, let alone every year admitted every year and amount is below $3k. Check with your relatives as well.
You can insure against everything for a price and thats where the insurers make the most profits - riders and other add ons to basic policies are the most profitable. In many cases, self-insurance may be cheaper than buying an insurance policy. Almost guaranteed that the 'fully-paid rider' is the most profitable for insurance companies, and they will keep on increasing the rider year after year (prediction based on what happened in western countries). The problem is that the 100% fully paid rider is bought by the most 'unhealthy' persons with the highest risk, and they end up overconsuming medical expenses.
Healthy, low-risk persons who do not get hospitalised every year end up paying for these persons. The same argument for those who opt for private hospital plans, people who insist on private hospitals are likely to overconsume medical treatment and the healthy people end up paying for them (not the insurers who will keep on jacking up premiums).
Consider whether you willing to self-insure yourself for $3k a year in return for savings in annual premiums. This will depend on a number of factors including whether you are overweight, unhealthy lifestyle, etc.
Persons in the generally low risk category can consider the cheaper shied plans with fewer riders.
Just to highlight, most of us have insurance from our employment until retirement. NTUC's co pay actually sits well before we retire and at the same time saves you quite a fair bit of money on the riders. If you look at the overall premiums you have per pax it can be quite considerable let alone a family of 3-4.
look at the threads, there are ppl who are worried about premiums for their parents who are in the 60-70.
Look at the implications of the plan on you not just now but the long run. Thats my word to all my clients and also just an opinion for you all to consider.
harky
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hey guy
as for medical shield right..
recently meet one guy from GE..
than the GE medical shield is add rider can full claim if go hospital??
isit full claim?? the GE guy told me ya le
So i think the one use CPF to pay one under GE policy name is call Supremeshield
Add rider is totalshield?
as for medical shield right..
recently meet one guy from GE..
than the GE medical shield is add rider can full claim if go hospital??
isit full claim?? the GE guy told me ya le
So i think the one use CPF to pay one under GE policy name is call Supremeshield
Add rider is totalshield?
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bigmice
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Yes, SHP plus TS can 100% cover your hospital bill +120day pre and post hospitalization consultant fee
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