Want to buy medical insurance but ....

[Nzy]

how to tell ?

 

my agent told me they accepted without exclusions.

 

See what your policy document says lo. If there is any exclusions, it will be there. 

[Ysc3]

here I am ranting about health insurance again ...

 

I just received a renewal from AIA and I am shocked to see that the premiums have shot up a whopping 30% or $150 for the Healthshield !! only alternative is to downgrade to AIA "preferred medical partners" to get cheaper premiums ... think they must have taken the queue from car insurance ... cheaper rates for authorized workshops.

[Sabian]

here I am ranting about health insurance again ...

 

I just received a renewal from AIA and I am shocked to see that the premiums have shot up a whopping 30% or $150 for the Healthshield !! only alternative is to downgrade to AIA "preferred medical partners" to get cheaper premiums ... think they must have taken the queue from car insurance ... cheaper rates for authorized workshops.

Did you move to an older age category? Or are you still within the same age category?

[Jman888]

here I am ranting about health insurance again ...

 

I just received a renewal from AIA and I am shocked to see that the premiums have shot up a whopping 30% or $150 for the Healthshield !! only alternative is to downgrade to AIA "preferred medical partners" to get cheaper premiums ... think they must have taken the queue from car insurance ... cheaper rates for authorized workshops.

 

 

increase due to age group or claims? 

[Ysc3]

The increase is due to upwards adjustments to the new enhanced medishield plan ... they had been talking about it since last year and AIA is the first one to show their cards.

 

Nothing till do with me... Same age group, no claims...yet...

[Othello]

hmmm, is it due to medishield life ? There was an industry wide increase in ALL shield plans last year due to medishield life .... 

 

Just call and ask your agent lor 

[Mustank]

The increase is due to upwards adjustments to the new enhanced medishield plan ... they had been talking about it since last year and AIA is the first one to show their cards.

 

Nothing till do with me... Same age group, no claims...yet...

 

basically is machiam increased taxes

 

my prudential agent also told me that there was one pinoy FT bought their best shield plan under pte hospital and in or about 1-2 years, go in for some operations

bill  was very heavy. cant remember, about 100k?

I hear already, I straightaway puizzzzzz

refused to buy their pte hoispital plan

[13177]

Increased premium due to what reasons?

[Lala81]

basically is machiam increased taxes

 

my prudential agent also told me that there was one pinoy FT bought their best shield plan under pte hospital and in or about 1-2 years, go in for some operations

bill  was very heavy. cant remember, about 100k?

I hear already, I straightaway puizzzzzz

refused to buy their pte hoispital plan

 

you can always downgrade to govt hospital A class when u are older. but u can't upgrade the other way round without a medical checkup.

Well nothing wrong with govt hospital A class anyway.

 

Just pointing that out.

[Ysc3]

Increased premium due to what reasons?

I am in the 41-50 group.

[13177]

you can always downgrade to govt hospital A class when u are older. but u can't upgrade the other way round without a medical checkup.

Well nothing wrong with govt hospital A class anyway.

 

Just pointing that out.

Guess govt hospital A class overall still cheaper than a private hospital?!

[Ysc3]

you can always downgrade to govt hospital A class when u are older. but u can't upgrade the other way round without a medical checkup.

Well nothing wrong with govt hospital A class anyway.

 

Just pointing that out.

 

I think most of us are keeping our options open and WIDE.

 

have pte hospitals in the pocket is better than just counting on the govt hospitals, esp when they are usually full.

 

I won't mind staying in govt hospital provided they can accommodate me when I need it.

 

twice I have experienced waiting in some waiting area due to no room avail for my parents ... longest wait was about 6 hours.

[Lala81]

Guess govt hospital A class overall still cheaper than a private hospital?!

 

Of course most of the time it's cheaper. But sometimes A class in govt hospital is still limited by facilities limitation cos they share the facilities with the subsidised patients.

 

Anyway if u want the widest options, then paying the premium for full pte still makes sense until you deem it unnecessary.

[Othello]

A word of caution for people with the bestest plan. 

 

1. If you are super rich, stop reading. Doesn't affect you. 

2. If you think you may want to downgrade when you are old cos of increased premiums -->

 

For serious chronic illness, please consider whether you want to go for Pte/A at first opportunity. Reason being, this classification will stick to you forever. So if you wanna go for an operation maybe when you are in your 60s and you want to choose B ward or you have already downgraded your plan to B ward Plan, you might be treated as a "pte" patient because of your past hospitalisation history when you were young. Hence, you will not be allowed to "downgrade" 

 

This is to my best knowledge, true. (Have left the industry for some time liao) Please consult your insurance agents to verify or for more info. 

 

Of course for those 1 off incidents, accidental injuries, knee ops .... go ahead, go for the best 

 

 

[Kangadrool]

to reset your class, go back to polyclinic to get referral letter. But, will take time...

 

A word of caution for people with the bestest plan. 

 

1. If you are super rich, stop reading. Doesn't affect you. 

2. If you think you may want to downgrade when you are old cos of increased premiums -->

 

For serious chronic illness, please consider whether you want to go for Pte/A at first opportunity. Reason being, this classification will stick to you forever. So if you wanna go for an operation maybe when you are in your 60s and you want to choose B ward or you have already downgraded your plan to B ward Plan, you might be treated as a "pte" patient because of your past hospitalisation history when you were young. Hence, you will not be allowed to "downgrade" 

 

This is to my best knowledge, true. (Have left the industry for some time liao) Please consult your insurance agents to verify or for more info. 

 

Of course for those 1 off incidents, accidental injuries, knee ops .... go ahead, go for the best 

 

[Kangadrool]

I have a contranian view on insurance especially medical...

 

Just buy the basic and intermediate coverage good enough...

 

Save the difference in premium in your separate bank account away from wifes and childrem...

 

Why?

 

The moment you give instruction to charge to your premium plan insurance, the charges all they anyhow whack in one... especially if you have all those riders and no co-payment plan.

[Ysc3]

with my present condition, most of agents tell me no or not worth to buy.

 

but recently one of my agents came to my with a special plan (subject to health check). I am not indicating which company as this is for discussion only.

 

thing goes like this :

 

for a coverage of 300k, I am estimated to pay about 7k/year (after loading for my conditions, for death only)

 

however, for the next 30 years the company will up the coverage to 500k for death.

 

during which I will pay 7k/year for the next 30 years.

 

after the 30th year, I will stop paying the premium but the company will continue to cover me for 300k + "bonus" until i am 99 year old. so a rough estimate will be that by the time of 99 years, the coverage will reach about 450k.

 

when i become a centurion, the term policy will terminate and they will pay me the 450k instead even if i am still alive.

 

I am considering this actually ... but then i am thinking if i be able to pay the premiums after the next 20 years ... not to mention 30 years ... meaning i will have to slog my whole life until i am 75 ??

 

i don't make 5k a month ... doubt i'll ever ... so its gonna be tough in the later years, esp after retirement age and pay gets docked.

[Kurty]

take care of your health, beats paying premium to them..

 

take care..