Shield Plan

[Gambler.]

Hey guys sorry to hijack, my relative now kanna psycho by a prudential agent to switch their exisitng Income shield plan to prushield.. was wondering should they switch? Both of them have some pre existing condition, what the agent told them is to go for underwriting first, if not successful den dun switch.. and its because of the 10% payment that make my relative wanting to change to prudential..

Also, Im intending to get a integrated shield plan, but I have degenerative disc disease in my cervical spine. Will it have exclusions if i get a integrated shield plan?[/QUOTE

when you apply with prudential, make sure you ask the agent to declare every single condition ur relative have and also ask ur agent to also declare that it is a "SWITCH FROM EXISITING SHIELD PLAN" many agents actually choose not to declare and end up when the consumer wants to make a claim they cannot claim.. hope the above helps

 

[Panerex]

Given the choice between aviva top plan and aia top plan, which one will you go for?

 

[Panerex]

with the revision of Avivia's myshield recently, any glaring winners among the shield plan runners?

 

[Speedhawk]

I asked my parents about their insurance policies recently. My mother does not have a private integrated shield plan. She said she had a condition and had her application to NTUC Income rejected some years ago. She did not apply for the other insurance companies' plans. Can she be covered under a private integrated shield plan or should she just remain covered under basic MediShield plan?

 

[SpinFire]

if got pre existing condition better dun switch. you never know when claim will be unsuccessful, then wasted all the years of payment

Yeah. The huge drawback of the private Medishield scheme is the issue of switching insurance companies later on.

My Mom has been with NTUC Plan B since Day 1, with no exclusions. Later on, she wanted to switch to GE. But due to illnesses that developed, it meant that she gets completely excluded from the pre-existing conditions if she were to switch to GE (she'll then be only covered under the most basic MediShield scheme)

If she stayed with NTUC, she'll still get coverage under Plan B for the pre-existing conditions, while any other conditions will be covered under the upgraded plan.

It seems like once you sign on with an insurer, you'll be stuck with it for life unless you remain healthy throughout. There'll be no incentives for companies to reduce premiums in order to compete.

 

[kennygoh89]

Given the choice between aviva top plan and aia top plan, which one will you go for?

I will tell you compare the price accross the 5 companies, not for your current age, but for the later stage of life, i.e 50++ to end of life. Because, some company will make premium so cheap during the younger years to attract healthy people to buy, but only to realize that when they are old with existing condition, they are forced to stay with the current company and they have to pay the hefty price for being "cheapskate" during their younger years. Some local company practice balancing in price from young age till end of life, just keep your eyes and heart open. you'll find the plan and company you love and always remember to get the cash rider top up.

 

[kennygoh89]

I asked my parents about their insurance policies recently. My mother does not have a private integrated shield plan. She said she had a condition and had her application to NTUC Income rejected some years ago. She did not apply for the other insurance companies' plans. Can she be covered under a private integrated shield plan or should she just remain covered under basic MediShield plan?

i will say, try with any insurance company, and declare + submit all medical report to them. see whatelse the company wants or what they exclude. because, it differs from company to company and its a case to case basis.

 

[kennygoh89]

Hey guys sorry to hijack, my relative now kanna psycho by a prudential agent to switch their exisitng Income shield plan to prushield.. was wondering should they switch? Both of them have some pre existing condition, what the agent told them is to go for underwriting first, if not successful den dun switch.. and its because of the 10% payment that make my relative wanting to change to prudential..

Also, Im intending to get a integrated shield plan, but I have degenerative disc disease in my cervical spine. Will it have exclusions if i get a integrated shield plan?

it really depends on the insurer and what your medical report says about your medical condition. think you can find an agent to submit and see what they say..

 

[Lewis.T]

I will tell you compare the price accross the 5 companies, not for your current age, but for the later stage of life, i.e 50++ to end of life. Because, some company will make premium so cheap during the younger years to attract healthy people to buy, but only to realize that when they are old with existing condition, they are forced to stay with the current company and they have to pay the hefty price for being "cheapskate" during their younger years. Some local company practice balancing in price from young age till end of life, just keep your eyes and heart open. you'll find the plan and company you love and always remember to get the cash rider top up.

I wouldn't say so. Do you prefer to be starting your savings now or starting at a later age?

Premiums are subject to change anyway; the most cost competitive company now might be the most expensive in future and vice versa.

I couldn't agree more with the last part though, just stick to the company you feel you're most secure with.

I'm an agent, you can choose to take my words at face value or otherwise at your discretion.

Also, not targeting anyone in particular, just rebuking a few statements. Cheers, hope you weren't offended.

 

[harky]

like tht if over $800 and no $$ to pay for cash how?

any idea any Shield for old ppl but without cap one but can use CPF to pay?

Per life insured has a max cap of $800.

 

[ramdick]

All these plans have rapidly escalating premiums in the later years, when the insured usually no longer have a steady income. When this is brought up, the agents will then tell people to downgrade when the time comes. Sometimes I really wonder whether all this is morally ethical.

 

[Lewis.T]

All these plans have rapidly escalating premiums in the later years, when the insured usually no longer have a steady income. When this is brought up, the agents will then tell people to downgrade when the time comes. Sometimes I really wonder whether all this is morally ethical.

Hi ramdick, it is true that premiums escalate as one gets older. However, the chances of a person more advanced in age breaking bones or getting seriously ill is also higher than someone who is younger.

Ultimately, you can still fall back to just the basic Medishield if you deem it necessary. Doing so will allow you to save on premiums, but you are now exposed to the brunt of medical costs.

It's a choice of whether you are willing to self-insure or let someone else do it for you.

 

[danielkok]

Hey guys,

Anyone knows what 'short-stay ward' means? Does it mean like where if I fell down while e.g. cycling/walking, and need to be taken to hospital and the docs wanna observe me?

How is short-stay different from hospitalization?

 

[aural]

Hey guys,

Anyone knows what 'short-stay ward' means? Does it mean like where if I fell down while e.g. cycling/walking, and need to be taken to hospital and the docs wanna observe me?

How is short-stay different from hospitalization?

Usually for restructured hospitals the short stay wards are created for patients who are deemed to be not too ill to be warded yet cannot be discharged at the moment after coming in via the A&E.

One of my clients stayed in this before in NUH. Unfortunately when he was there the shield plans did not cover him because the short stay wards were not launched yet.

 

[aural]

All these plans have rapidly escalating premiums in the later years, when the insured usually no longer have a steady income. When this is brought up, the agents will then tell people to downgrade when the time comes. Sometimes I really wonder whether all this is morally ethical.

Sad truth is as we age there is a higher chance of using the policy. How would you price a plan in such an instance? Low premiums for high chance of claims and potentially bigger bills too? If we look at the cost of hospitalization, it's really not cheap. If we really want to lower all the cost of insurance. Start with lowering hospitalization cost.
As a practitioner I always lament over the fact that I too will need to pay the high cost for the shield plans but there is not choice unless hospitalization cost can be managed. Maybe when such a day happens we can point fingers at the insurers to lower the cost.

 

[danielkok]

IC so am I right to say that injuries that are non life threatening like the example I gave (fell down not from accident and doc wants to observe) would qualify for short stay?

Because my AIA medishield plan has a limit on this, but Prudential doesn't. Thinking maybe of changing..

 

[NiteX2]

IC so am I right to say that injuries that are non life threatening like the example I gave (fell down not from accident and doc wants to observe) would qualify for short stay?

Because my AIA medishield plan has a limit on this, but Prudential doesn't. Thinking maybe of changing..

You can just upgrade your existing AIA shield plan to more comprehensive coverage. It is better this way especially if one has developed certain conditions over the years as one can fall back on the old plan should they be excluded for certain conditions. You can pm me if you need help with that.

 

[aural]

IC so am I right to say that injuries that are non life threatening like the example I gave (fell down not from accident and doc wants to observe) would qualify for short stay?

Because my AIA medishield plan has a limit on this, but Prudential doesn't. Thinking maybe of changing..

Switching between insurers are usually not advisable unless you are certain or willing to bear the risk that you might have a condition already.
You can upgrade your Aia plan to the newest plan which should address that issue. In fact over the last 1year all if not almost all of AIA health shield should have already been upgraded to the latest.

Should you need clarifications you can call your agent or pm anyone of us helpful advisers in the forum to go through with you on your plans and it's restrictions.

 

[Lewis.T]

Switching between insurers are usually not advisable unless you are certain or willing to bear the risk that you might have a condition already.
You can upgrade your Aia plan to the newest plan which should address that issue. In fact over the last 1year all if not almost all of AIA health shield should have already been upgraded to the latest.

Should you need clarifications you can call your agent or pm anyone of us helpful advisers in the forum to go through with you on your plans and it's restrictions.

If it is non-life threatening, the bills shouldn't chalk up to an absurd amount anyway, the limits may be justifiable.

If you are confined to the hospital for more than 6 hours, you can claim under the pre-hospitalization benefit.

As others have mentioned, it is not advisable to switch unless you still have a clean bill of health

Pru agent

 

[neanea]

It's seems like all insurance company how cover 10% co payment why only NTUC does not over ?