I’m 21 this year, currently serving NS and will ORD in 2021. I have the AXA Shield Plan A, which I got last year. Is it worth it for me right now?

Question

I’ve been paying for it using Medisave, should I be doing this? Is this enough coverage for me?

Oh Yi Ning · Accepted Answer

Hey Anon,

In general there are 5 things to cover for insurance: Death, Total Permanent Disability, Hospitalisation, Accident and Critical Illness (CI). Hospitalisation and Accident is normally the basic insurance people should have so it is still good you got it! You might want to consider getting an Accident plan for accidental injuries/death coverage next and consider progressing to a Life Plan/CI plan.

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Colin Lim · Answer

All the more you need it.. When i had a knee injury while training... I need settle my bill first before mindef reinburse to me. Make sure u also have accident plan.
Reach out to me for personalise financial planning.
#planwithcolin

Pang Zhe Liang · Answer

The worth of a plan varies according to the dollar that you are willing to pay in return for the value that you get in return.

**Why You need Healthcare Insurance**

Generally, all my clients will have proper healthcare insurance as part of their insurance portfolio. This is because medical inflation hits 10% in 2019. As a result, a single medical bill may potentially wipe out your entire savings.

With this in mind, I will suggest for you to seek clarification with your agent or to get professional second advice to evaluate on the next course of action.

**Optional Rider**

Moreover, I will strongly encourage my clients to consider the optional add-on rider. In effect, it reduces the cash outlay when a claim airse.

++More Details:++

[Should I buy Rider for Integrated Shield Plan in Singapore](https://www.blog.pzl.sg/should-i-buy-rider-for-integrated-shield-plan-in-singapore/)

**Current Situation**

Of course, now that you are serving the nation, 11B acts like your healthcare insurance - no upfront payment is usually requested for treatment at polyclinics and public hospitals in Singapore.

However, there is a limit to how much and scope of coverage that it is able to give you.

Therefore, having your own healthcare insurance is certainly important.

On the whole, I will suggest for you to speak with your agent or an experienced consultant to do comprehensive life planning. Through this process, it creates clarity on how you should proceed with insurance planning, as well as financial planning in general.

I share quality content on estate planning and financial planning [here](https://fb.me/workwithpzl).

Rebecca Qin · Answer

Yes, hospitalization plan is the most basic paln everyone should have. But different company has different benefits. You can compare and choose the most one you like.