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Great Eastern SupremeHealth

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How to decide between Elite-P and Classic-P or Elite A and Classic A for Great Eastern Hospitalisation Plan?
1. Start with the Ward Options A = A Wards in Govt & Restructured Hospitals P = Private Hospitals Private Plan allows you to go to restructured without additional cost. but if you are on an A plan and you wish to go Private, you can still go but only a portion of the bills will be covered. 2. Rider ELITE vs CLASSIC As mentioned by Jun Xi, he has given the examples. on how the classic and elite plans work. The benchmark is actually $70,000 for medical bills, that is where the plans converge. Classic: 70,000 5% or Deductible = $3.5k Elite: 70,000 5% = $3.5k so any hospital bills below $70,000, means your out of pocket expenses will be lesser if you chose the ELITE rider. Who buys Classic: People that are Premium sensitive, or sits well with their financial situation. Having cover is better than none. Who buys Elite: People who want a fuss free simple 5% out of pocket expenses on all hospital bills. No one can tell the future, as to how large a bill will be, a day surgery can set one back at about 30k. but it hasn't hit the 70k bill yet. Hope this helps.

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My father is 47 this year and only has Great Eastern Whole life with RCC for which he pays $550 half-yearly. I’m thinking of getting a Integrated Shield Plan for him,. Which is the most cost-effective?
Hey there! Good on you for helping look out for your dad's protection needs! An ISP will be one of the most fundamental insurance anyone can have to avoid the costly medical bills. Most of the time, these ISPs are competitive in pricing and benefits but the main aim of course, is to help cover the main bulk of surgical and hospitalization costs. A part of the ISP cost will also be covered by CPF as well. Do evaluate what is the kind of hospital type preference eg. Private, Restructured etc. Of course, ISPs that cover for restructured hospitals are cheaper than the ones covering private hospitals. Do make sure you'll attach a rider to it that covers for Deductibles (Ward-associated cost) and Co-insurance (10% of the cost minus deductibles). Financial planning is an integral part of life. You can reach me here to find out more.

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Should I switch my integrated shield plan from NTUC Income to Great Eastern?
You need to ask yourself why would you be switching? 1) Price? Prices fluctuate based on the volume of the claims. So if GE is cheaper now, that might not be the case indefinitely as premiums are reviewed periodically. 2) Existing medical conditions. When you switch to the GE policy, your existing medical conditions might not be covered or covered with exclusions. Also, you might be loaded with additional premiums if you're previously a non-smoker under the Ntuc and you picked up smoking. 3) If you previously had the NTUC plan which was bought quite some time ago (with the riders attached- coinsurance and deductibles), you might be covered 100%. But when you switch to ANY new plan, even with buying all the additional riders, you'll only be covered 95% of the hospital bills! This is because of the new government legislation. You will still need to come out with 5% of the co-insurance as a means to take responsibility on your own health! Soure: https://www.channelnewsasia.com/news/singapore/5-per-cent-co-payment-new-integrated-shield-riders-10021398

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Hi, I'm 28. I have Great Eastern Total Health and AVIVA Mindef Group insurance. Am I well covered or should I consider to get other insurance?
Hi anon, You first need to understand that different plans cover different things. Total Health is a hospitalization plan and with a rider you are decently covered for hospital bills. Aviva Group Term Life and PA cover death/TPD and personal accident, but these are group policies and thus you will be at the mercy of the policy own which is MINDEF, should they decide not to renew this benefit or work with another insurer with higher premiums. You don't have to do anything regarding these 3 plans. However, you don't have any critical illness coverage. This is a gap that you will want to plug. Typically for covering CI, especially for life, you will want to consider a whole life limited payment plan with a multiplier, to provide you with some basic cover for life, and also boost your coverage during your working years. Such plans usually come with a limited payment term, which means you don't have to pay premiums after you stop work, yet you retain coverage. After that, you may want to consider multi pay plans if you are concerned about recurrent CI, however such plans will be pricey as they require you to pay for the entire duration of the plan. You'll want to have enough coverage to at least meet 5 years of expenses as well as out of pocket costs. So the amount of coverage you need largely depends on your expenses (which is largely a derivative of your income). Many insurers offer whole life plans and multi pay plans, so speak with an independent financial advisor in order to understand the options available to you. Whole life plans are largely similar in structure but have minor differences, such as the number of covered conditions, etc. Multipay plans are more complex as their payout structures are vastly different depending on the insurer. You'll want to understand them fully before you get something for youself.

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Hi, I am a foreigner with Spass male 22 yrs old, non-smoker. I am looking for health insurance coverage. Currently comparing among NTUC Enhanced shield, Prushield Premier and GE Supreme Health P Plus.?
Coverage: - AIA covers up to 13 months Pre-Post Hospitalisation - AIA covers up to $70k/yr for both Proton Beam Therapy Treatment and Cell, Tissue and Gene Therapy - AIA covers up to $2,000,000 claims limit per year Claims process: - Majority of the insurers are quite fast on processing claims Overseas Treatments: - The Iintergrated Shield Plan are basically domestic plans where coverage are mainly focused for locally incurred medical expenses. - Overseas coverage are very limited, such as Emergency Overseas Medical Treatment, which covers the bill only if failure of immediate treatment results in loss of life or serious health impairment. - If you need overseas coverage, consider Internation Medical Insurance which cost multiple folds of the Integrated Shield Plans. Downgrade Cash Value - If you are referring to the Daily Cash Benefit which you receive for being warded in a lower than entitled ward, this benefit is no longer available across the industry. Affordability ! - Above premiums are based on Singapore/PRs rates. Foreigners would cost roughly 5% more.
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Hi. I am looking for ISP for my parents who are in their late 50s. I am looking at B1 ward coverage. What's the recommendation?
What is your main concern of not getting your parents at least an A ward coverage? The premiums difference between an A plan and a B plan is a mere $362 per person annually at age 70 (based of Raffles Shield premiums) inclusive of a rider to reduce co-payments to 5%, further capped at $3,000/yr for treatment sought within panel. You may want to see how the premiums differ below: ! There are currently only 5 insurers including Raffles that provides "As Charged" coverage catered for up to B1 wards. In this comparison, I'll just compare 4 of them. If budget isn't a huge concern to you and is still within your means, please consider getting them at least an A ward coverage for higher healthcare flexibility. Main issue for Govt. Hospital is generally the long waiting time. The lower the ward, chances are the longer the waiting time to be scheduled for treatment, unless critical situations. You wouldn't want your parents to experience delayed treatments just because their condition isn't "severe enough". It might cost unecessary emotional or physical discomfort during the "waiting period". Nevertheless, below is how 4 of the insurers compare based on B1 ward coverage: ! Note : B1 wards are considered Non-subsidized wards. For Govt Hosp treatment, I personally find the Pre- and Post-hospitalisation benefit extremely important due the long scheduling as mentioned earlier. Ideally I'd want the standard 180 days pre and 365 days post which is what Insurer V offers. Then looking at the premiums, Raffles Shield plan A would make even better sense to you. Do note that the "Standard plans" does not offer As Charged coverage. If just offers a slightly higher limit as compared to our Medishield Life. Hope it helps.
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For hospitalisation insurance, is it better to pay more premiums to have a plan which only needs to pay 5% co-payment. Or to pay less premiums but foot the deductibles?
You need to conduct risk management to determine the amount of risk that you are willing to undertake in exchange for the premium savings that you get. For me, my personal philosophy is to get the best healthcare insurance coverage that I can afford. Above all, I only have one health and I only live once. Therefore, I prefer to place more emphasis on recovery than cost that I may potentially need to pay. I share quality content on estate planning and financial planning here.

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My insurance agent is my dad's friend from GE who claims the TotalHealth rider (old ver) is 'better' than TotalCare (new ver) because it 'covers from the first dollar', can anyone verify this?
Yes this is accurate, however, the newer 95% options aren't a bad choice as policyholders of the older 100% cover ones are being priced out sooner or later. Insurers don't want them anymore and will make it so that switching to the 95% one will save you a lot of money on premiums and save them money as well. So downgrading should be considered at least. Premiums for my age band is almost 2 X more for the older 100% riders.

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Anyone did a comparison for Great Eastern Supreme Early Multiplier VS Aviva MyWholeLifePlan III? VS AIA plans. Am looking for whole life + ECI plan. Is there any promotion currently for both plans?
Hi there. The Great Eastern product you mentioned is a critical illness plan, which the Aviva product mentioned is a life insurance. It will be difficult to compare both side by side as they serve different coverage areas. I do recommend that you cover both life and critical illness separately unless you have budget constraints. This is because critical illness riders to life insurance plans are usually very limited in coverage compared to a separate standalone critical illness plan. Aviva has promotions for both life and critical illness plans ending soon. Do reach me here if you like to find out more. I cover 8 other companies beside Aviva as well.

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My hospital plan is currently with AIA healthmax gold. I am considering if I should switch to GE Supremehealth Total care Elite. What are the factors to consider when choosing hospital plan?
Hey there! Budget will of course play a role. There will also be nuances eg. what is the maximum limit that is reimbursable per year etc. Across the board, there is a 5% co-payment that has to be made regardless of insurer. Of course, typically the caveat here is that if you are looking for hospitalization at private hospitals, you will have to approach a panel of doctors approved by the insurer. I'll advise you to chat through with a trusted financial advisor to evaluate your options. Financial planning is an integral part of life. You can reach me here to find out more.

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