Should I switch my integrated shield plan from NTUC Income to Great Eastern?

I’m currently insured under NTUC’s IP (class A ward). I’m considering either adding a classic rider to my current IP or switching to GE with classic rider.

NTUC’s rider removes the deductible altogether and limits co-payment of 10% to $3000. So for smaller bills, I’d have to fork out lesser cash. As for GE’s rider, I have to co-pay either 5% or deductible of $3500 whichever higher, limited to $3000.

The thing is NTUC’s pre/post hosp only covers 100/100days compared to GE’s 120/365days.

Income IncomeShield Integrated Shield Plan

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Michael Wong

16 Oct 2020

Seedly Student Ambassador 2020/21 at Seedly

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/...

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