Between the Prudential PRUshield and the NTUC Income Shield, which is better?

As mentioned, both are similar.

I would recommend applying for both and await the underwriting results.

I would go for the insurer who gives you the best terms. Hospitalization insurance in Singapore are regulated and insurers are very strict on underwriting terms when it comes to application.

The budget should be a secondary consideration because it doesn't matter if it is cheaper if you cannot claim. The differences, pros and cons are also subject to change as they often do every 2-3 years. As such, go for the one with the best terms, whether or not the product is the cheapest in the next 10 years is secondary. Consumers are protected due to the regulation here.

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Hi Ritu,

I think in regards to which is better, you could check more on the claims history, as that will tell a better story. As what Vincent has mentioned, shield products are the most regulated product so the coverages between insurers are pretty similar.

In regards to what is mentioned as a 'claim penalty' it's actually called claim-based pricing. The concept of this is pretty similar to car insurance, where if you made a claim within the year, upon renewal, there will be an increase in premiums. I do personally find this model more fair, as the current model for shield policies is that if there are more claims within that year, most insurers will increase the premiums generally and it will affect all the insured.

Do reach out if you have more queries