facebookMy 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? - Seedly

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Anonymous

16 Nov 2020

Insurance

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?

Discussion (4)

What are your thoughts?

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.​​​

If your Dad is 47 this year, premiums will probably be quite ex. You can consider looking at Up to A/B Ward Coverage at Public Hospitals instead if budget is a concern. Does he have any health issues/pre-existing conditions? If so, please consider a con-current application with an independent financial advisor and see which company has the best outcome.

Nigel Tan

Nigel Tan

19 Jun 2020

Level 7·Executive Senior Financial Planner at Great Eastern Life

When you say cost effective, do you mean like across companies, type of ward in hospitals or type of...

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