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What level of insurance coverage does everyone have for hospitalisation?
Currently I am under Income's Enhanced Incomeshield Basic with no rider. I was planning on upgrading to Advantage which covers up to A Wards and add a Classic Rider.
However, I was told that I should try to upgrade to Preferred as it is difficult to upgrade.
But as I am currently about to enter Uni next year, I thought it is too much to get Preferred right as I am not working. The downside is that I maynot be able to upgrade when I am working. What are your opinions regarding this? Thank you :)
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Pang Zhe Liang
28 Jun 2020
Lead of Research & Solutions at Havend Pte Ltd
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My philosophy for healthcare insurance is very simple - get the best coverage that you can afford. After all, it is easier to downgrade than to upgrade. This is because the latter usually involves medical underwriting.
In your situation, you may wish to consider whether you prefer to have the option to seek treatment in private hospitals, or if you are comfortable with treatment in public hospitals only.
Without a doubt, you should also consider your affordability in the long term. With this in mind, it will be good to plan your cashflow to help you make a sound decision.
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