Anonymous
In terms of benefits, they are similar to what other insurers are offering (+ value-added services like subsidized consultation fee to panel GPs and Specials) but the catch is in its rider if you go to a private hospital not on AXA’s panel. Instead of waiving the deductibles, an amount of $1500 is required (+ 5% co-insurance with no copayment cap). Is it worth going for this plan?
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Alvin Teo
20 Oct 2019
Aviva Relationship Consultant at Aviva Affinity Channel
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Cheung Jian Hui
20 Oct 2019
Financial Planner at Great Eastern Life
Hi Anon,
Personally, i would not want to have to pay extra for visiting non panel doctors.
There might be cases that you want to see a specific specalist doctor that might not be with a panel doctor with your insurer.
The main selling point of AXA's shield plan are their low premiums but do take note that there are some differences and therefore thats why they are able to charge lower premiums. You get what you pay for.
I have analysed how the hospital plans of each insurers differ in the market, do feel free to contact me through facebook or email me at [email protected] if you want to take a look!
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Hi, I can help you out, maybe can let me know what shield plan you are on at the moment and the rider?
To answer your question:
AXA Shield’s boasts one of the cheapest premiums compared to other insurers, even when you compare premiums for older age groups (more on this later).
In terms of other benefits, AXA’s letter of guarantee is one of the best across the board, the amounts are generous and efficient.
The non-panel co-payment is pretty much similar to other insurers.
The basis of Co-payment is paying for what you need when you need it, rather than pre-paying for it. This is evident when other insurers have high priced premiums for older age groups and by then it’ll be very hard to switch out.
If you are at a crossroads, do speak to an independent financial adviser like myself, who can compare plans from multiple insurers.