Is it worth keeping the NTUC Private ISP and Full Rider (old scheme) for a 29 year old male?

Hi,

You will have to decide for yourself whether you are willing to give up the old scheme rider because once you switch, you will not be able to get the rider back. All new riders will need to incorporate a co-payment of 5% or more, however the premiums will be alot alot cheaper.

I roughly did a calculation for the total premium for NTUC enhance incomeshield - P & Income Plus Rider - P. Between aged 30 to 85, the total premiums you need to pay is around $296,169. My calculations may not be accurate, it is still best for you to get the premium table from your agent and calculate it yourself.

Compared this to Great Eastern's Great SupremeHealth - P Plus & Totalcare Classic - P, total premiums of $168,698. That's about $120k ++ over the 55 yr period!! This amount is even enough for you to pay your co-payment if you were hospitalised 40 years ($120k/$3k) out of the 55 yr period!!!

So decide for yourself whether it is worth keeping.

Feel free to contact me (email at bio) if you are interested to find out more.

Cheers.

If you have no pre-exisiting conditions, you are free to do what you wish, according to your financial capabilities.

Since you said that you can still afford it, and if your total insurance doesn't exceed 10-15% of your annual income.

My recommendation is to stick with it. Because full rider policies are no longer available. Until you feel like it is no longer worth.

Health Insurance:

Disability Insurance , Personal Accident, Hospitalization. etc

Life Insurance:

Critical Illness, Term / Whole Life, Mortgage insurance. etc

Combined, our industry guidelines would be about 10-15%. but it depends on individuals.