Std IP or IncomeShield Plan B?

[whitesand]

Hi,

My Mum (80 yrs old)and I are under IncomeShield Plan B for years, and now Income offers me an option to select the new Std IP with slight increase in premium without underwriting. The increase of premium to me is not an issue, but the supposedly increased coverage of new std IP is not extremely attractive to me also.

I can see only 2 benefits:
1. All new enrollment will be Std IP, so Plan B policy holder will gradually become very few and not sure if it will present a hurdle when claim is needed in future.
2. Stardardised IP will be under close watch of Sg government when compared to Plan B. So it would likely to have more convenient/fair claim procedure.

I wonder anyone has any opinion on switching fr IncomeShield Plan B to Std IP?

Thanks in advance.

 

[whitesand]

Anyone has any opinion?

 

[soneat]

Anyone has any opinion?

As long as you can afford it, better to take the plan with better coverage.
The Standard IP seems to have higher surgical limits and lower deductible compared to the IncomeShield B plan. However, the IncomeShield B plan has things like Prosthesis benefit.

 

[AT]

Incomeshield Plan B can go private but the other cannot right?

 

[wts2013]

Hi,

My Mum (80 yrs old)and I are under IncomeShield Plan B for years, and now Income offers me an option to select the new Std IP with slight increase in premium without underwriting. The increase of premium to me is not an issue, but the supposedly increased coverage of new std IP is not extremely attractive to me also.

I can see only 2 benefits:
1. All new enrollment will be Std IP, so Plan B policy holder will gradually become very few and not sure if it will present a hurdle when claim is needed in future.
2. Stardardised IP will be under close watch of Sg government when compared to Plan B. So it would likely to have more convenient/fair claim procedure.

I wonder anyone has any opinion on switching fr IncomeShield Plan B to Std IP?

Thanks in advance.

Have u ever wondered why NTUC offer to u, and not to all? I have an enhanced incomeshield B. Yours is incomeshield, still the old plan? u did not upgrade to enhanced plan?

Enhanced incomeshield with rider which covers 100% is better than the standard IP. So u shld not just compare what u have/offered, request to discuss with ntuc agent.

Read this to understand std IP vs pte IP vs medishield life:
http://www.straitstimes.com/singapo...-the-standard-b1-class-integrated-shield-plan

Your mum is 80 shld be reviewed/considered separately from yours.

Just some pointers for consideration, surprised all the agents and advisors disappeared from the forum

 

[whitesand]

Have u ever wondered why NTUC offer to u, and not to all? I have an enhanced incomeshield B. Yours is incomeshield, still the old plan? u did not upgrade to enhanced plan?

1. I didn't realized that NTUC Income did not offer this without underwriting to all. Does that means that because I did not make any claims for years and is considered to be a lower risk selection (bao jiak) for Income? Please share you insight to this.

Enhanced incomeshield with rider which covers 100% is better than the standard IP.

2. I am aware of Enhanced Incomeshield, but don't see the need to pay more for those extra benefits.

So u shld not just compare what u have/offered, request to discuss with ntuc agent.

3. I posted here so that I can get opinions fr sources other than Income (or any other insurance company) agents, who may have bias and financial motivation.

Read this to understand std IP vs pte IP vs medishield life:
http://www.straitstimes.com/singapo...-the-standard-b1-class-integrated-shield-plan

4. Can't read as I am not ST online subscriber.

Your mum is 80 shld be reviewed/considered separately from yours.

5. GOOD POINT.

Just some pointers for consideration, surprised all the agents and advisors disappeared from the forum

6. See point 3, ha ha.

 

[wts2013]

1. I didn't realized that NTUC Income did not offer this without underwriting to all. Does that means that because I did not make any claims for years and is considered to be a lower risk selection (bao jiak) for Income? Please share you insight to this.

(I suspect they want to reduce old incomeshield policy holders, nothing more than that.)

2. I am aware of Enhanced Incomeshield, but don't see the need to pay more for those extra benefits.

(I believe in getting 100% cover, maybe when I reach 70-80 then consider reduced cover like standard B or basic medishield life. My parents never have insurance, which I dun think is needed with substantially high subsidies from govt staying in C ward. Both already passed, so dun need to pay medishield life premium, not worth it.

Since u don't see a need to enhanced incomeshield, not surprised u will not want STD B also.)

3. I posted here so that I can get opinions fr sources other than Income (or any other insurance company) agents, who may have bias and financial motivation.

(No, u shld stick to NTUC, I'm suggesting u compare incomeshield, enhanced incomeshield and Std B to decide on one.)


4. Can't read as I am not ST online subscriber.

(Did u try reading, I also not subscriber, old articles are open to read.)

See my comments above within brackets