Which one is the best for Class A Ward Public Hospital AIA vs GE vs Aviva Integrated Shield Plan?

Hello! I'm 24 this year and still an undergraduate. Looking to start an IP Plan and have narrowed down to these 3 companies. All 3 have 1mil coverage and are roughly arnd the same price. Which one is the best? Not planning to add a rider as I understand I have to fork out cash. I have sufficient Medisave to pay, but I don't see a need for private hospital IP Plan. Appreciate the advice. Thanks!

AIA HealthShield Gold Max Integrated Shield Plan Great Eastern GREAT SupremeHealth Integrated Shield Plan Singlife Shield

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Pang Zhe Liang

21 Jan 2021

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

How to determine the best plan:

Unfortunately, there is no best plan. As a matter of fact, each plan has its own benefits and cost. Accordingly, you may wish to understand your needs and priorities first. In effect, this helps you to determine the factors that you value the most.

For instance, all the clients that I work with wants to have a peace of mind in the event of hospitalisation. For this purpose, they choose an agent who is capable of answering their questions, and to help them in the long run. Of course, this is based on the fact that the offered plan fulfiled their needs well.

If you want a comparison amongst the different insurer, you may find it here: https://www.moh.gov.sg/cost-financing/healthcar...

Rider for Integrated Shield Plan:

Next, you may wish to revisit your intention on getting the rider for the hospital plan. Yes, you are right to say that you will need to fork out cash for the rider. In like manner, you will also need to use MediSave for the integrated shield plan. In both cases, they are all your money.

For one thing, the main purpose of the rider is to pay for the cost of deductible and co-insurance, subjected to co-payment for each claim. If you don't have the rider, then you will have to bear the cost of deductible and co-insurance yourself. In this situation, you are likely to be worse off. With this in mind, I will suggest for you to understand the coverage again before making your decision.

More information: Integrated Shield Plan Rider Singapore: A Starter’s Guide

Private vs Public Healthcare:

Finally, if you are comfortable with seeking treatment in public hospitals only, then go for that plan that suits you the most. After all, there is no reason to overinsure yourself if you are absolutely sure that you will not use the benefit in all cases.

Here is a comparison that you may find useful: Private vs Public Healthcare Insurance in Singapore

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