Integrated Shield Plan

Saw below statement from seedly post .

"Should I get an Integrated Shield Plan?

Yes if you answered ‘Yes’ to these few questions:

Do you want to stay in a Private Hospital or Public Hospital Class A/B1 wards?
Do you wish to choose your own doctor?
Can you afford your premiums in the long term?
Premiums increase periodically as you get older. It is also possible to downgrade your plan (e.g. from ‘Private Hospital’ plan to ‘Public Hospital Class B1 Ward’ plan)."

To be honest, my answer to below question is NO for 1st and 2nd, and hence NO for 3rd question too because dont want spend money for 1st and 2nd reason. But is it really only based on these?

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Wis

Edited 22 Aug 2021

Hi Anonymous, the reason why a lot of people take up Integrated Shield Plan (IP) is because Medishield coverage is pegged to B2/C wards in a restructured hospital. Hence if you ever go for the B1/A ward or even private hospital, your Medishield life payout may not be sufficient or cover only a small portion of your bill.

if you're given a choice wouldn't you want to get the best medical care for yourself? When I took up my Incomeshield many years ago, I was prepared to go for restructured hospital if I need to. However since then I have visited both private and restructured hospital for my own medical treatment and I really can see the stark difference in the service quality, and regret not upgrading my IP earlier. You may want to take up the best plan while your health status is good and you can afford the premiums. It's much easier to downgrade to lower plan later but if medical conditions set in, it will be difficult or even impossible to upgrade for some cases.

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rogersk

Edited 21 Aug 2021

For me I went went AIA ISP + Rider (Class A) because:

I wanted at least 1m coverage. In case I really need that much of a claim. I felt that Private is too expensive so I settled for Class A. Not so much of choosing my own doctor, more of max claim amount. Others might argue that you'll getting private with get you a faster service. But for me, I don't intend to claim anything, so a Class A would suffice when shit hits the fan.
Credit Rating of the insurer. I narrowed down to insurers with the highest credit rating in SG, AA-. Cuz I intend to buy my Term Policy from the same company as well. 1 shot buy, instead of having policies from many different companies.
https://www.moneyowl.com.sg/articles/singapores...
I found an agent that I can trust. MDRT too, so like, she's doing decently and most likely won't be leaving the industry anytime soon.
The premiums, while young, is still relatively affordable. However, I do agree that AIA is slightly more expensive than the rest, but I went with the agent that I can trust. I may downgrade in the future as premiums increase. Ultimate for me, insurance is to protect me while I am young and broke.