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

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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?

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

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 rider to the integrated shield plan?

From what I've gathered, I believe AIA, AXA & GE are pretty price competitive on the lower end, but you should also look at benefits rather than just cost.

Across plan types, of course private would be the most expensive, followed by A ward in restructured hospitals and B to cover until B1.

I believe most insurers would offer the "affordable" rider & and the more "comprehensive" rider to their ISPs. The copayment amount would be higher for the "affordable" rider but if cost is your only basis of consideration and you are willing to pay up more during a claim, then go for it. ​​​

Pang Zhe Liang

Pang Zhe Liang

19 Jun 2020

Senior Financial Services Consultant at AIA Singapore Private Limited

I'm heartened by the fact that you are looking into an integrated shield plan for your father. As a ...

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