Advertisement
Anonymous
I am currently paying over 3k annually for my mum hospitalisation plan for private hospital renewal every year. My Insurance Agent is proposing that I can downgrade it to government hospital so the annual payment will be lower. Anyone has any idea what is a better option? Paying a higher premium for private hospital or downgrade it to Govt hospital for lower payment? My mum is 62 this year, active and healthy.
3
Discussion (3)
Learn how to style your text
Loh Tat Tian
30 Nov 2018
Founder at PolicyWoke (We Buy Insurance Policies)
Reply
Save
Jason Sing
29 Nov 2018
School Of Hard Knocks And Life at School Of Hard Knocks And Life
Buy what you need. As long as you are employed and could afford the premium for your mum and yourself, you both may want to be covered for private hospital. However, if you are unemployed and could not afford the premium, it would be better to downgrade to public hospital. There is no right or wrong answers. It really depends on your needs and whether you could afford.
Reply
Save
Hariz Arthur Maloy
03 Oct 2018
Independent Financial Advisor at Promiseland Independent
You pay for what you get.
But thankfully in Singapore, our public hospitals can be relied on wel...
Read 1 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Posts
Advertisement
There is no right or wrong in insuring for your loved ones.
What is important is, is it affordable for you? If not, choose to downgrade (and at least they still have medical coverage)
If you can afford, best to keep it. The type of care you want is dependent on how luxurious you want the care to be (private), or more affordable yet not compromising too much (A ward).
If cost is still a concern, the minimum is the standard plan offered by all insurers.