To All IFAs: in terms of having more days of pre/post-hospitalisation coverage for shield plans, is it definitely best to get it for elderly parents? - Seedly
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NTUC Income IncomeShield

Anonymous

Asked 5d ago

To All IFAs: in terms of having more days of pre/post-hospitalisation coverage for shield plans, is it definitely best to get it for elderly parents?

And that will also eliminate NTUC Income shield plan right?

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Hi Anon,

That is definitely something to look at, because after hospitalisation, it's the post hospitalisation bills that will pile up. So it would be a good thing to look at a plan that has a longer post hospitalisation coverage period. Just wondering in regards to healthcare, what are you looking at? Private or Public? If premiums are a concern, you could consider taking a public healthcare shield plan that allows your parents to be warded in a class A ward.

However do note that you might want to also consider looking at a term policy for them as it would be good to have a payout to help with the bills of your elderly parents due to unforeseen circumstances. But this is not as crucial as looking into a shield plan first.

Do reach out if you have further queries, in regards to public healthcare, I believe Prushield Plus + Pruextra Plus Co-pay is very affordable for those in their latter years.

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šŸ‘ 0

It depends on three things:

  1. Choice of Insurance Company to work with

  2. Type of plan selected

  3. Principal treating Doctor

If you are comfortable with using panel doctors, e.g. all government and restructured hospitals in Singapore and selected private medical practitioners (over 400 of them currently), then you may wish to consider coverage from AIA Singapore.

For the most part, it provides up to 13 months pre-hospitalisation coverage and up to 13 months post-hospitalisation coverage under AIA HealthShield Gold Max Plan A. Hence this is definitely a worthy point for consideration, especially for medical conditions that require an extended period of treatment.

However, before you make your decision, it will be important to understand AIA Preferred Providers (their list of panel doctors) and whether you are comfortable to work with this team of specialists that work directly with AIA (not via third party concierge).

Moreover, if you have an existing healthcare insurance, it will be good to spend quality time to understand your existing coverage before we make any decision.

I share quality content on estate planning and financial planning here.

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šŸ‘ 0

It would depend on which plan you're buying. Other insurer lower class eligible plans also have reduced pre and post hosp benefit as compared to the private level cover.

Enhanced IncomeShield Basic (B1 Ward) provides 100 pre and post and only GE SupremeHealth B Plus has longer.

But for Enhanced Income Advantage (A ward) it's also 100 days pre and post, but almost every other insurer is longer.

So if you're going for B1 ward cover. It doesn't matter. And in fact I'll choose NTUC due to premiums.

https://www-moh-gov-sg-admin.cwp.sg/docs/librariesprovider5/integrated-shield-plans-documents/november-2019/comparison-of-class-a-ips-(1-nov-2019).pdf

https://www-moh-gov-sg-admin.cwp.sg/docs/librariesprovider5/integrated-shield-plans-documents/november-2019/comparison-of-b1-ips-(1-nov-2019).pdf

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