Comparison Of Health Insurance
>> Wednesday, September 2, 2009
Do you have health insurance and understand what it covers?
How many actually compared the various plans available?
The information is available on the Ministry Of Health website:
http://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=342
In addition to more information of the basic Medishield plan, it also has all the policy contracts of insurers (NTUC Income, AIA, Great Eastern, Aviva & Prudential) providing the Medisave-approved Integrated Insurance Plans.
There is also the service indicators:
I) Claims rate performance. (1. GE | 2. NTUC | 3. PRU | 4. Aviva | 5. AIA)
II) Letter of guaranteed & Medical records cost
Comments:
All private shield plans and their riders have their advantages in different areas. The areas to look out for are:
1) Coverage of deductible and/or co-insurance
2) Type of coverage (C/B2/B1/A/Private)
3) Premium cost
4) Limitations
5) Additional benefits
6) Claims performance
It is an important decision as it will be difficult or even impossible to purchase or switch plans in future due to any medical condition or previous surgery.
Do not procrastinate, act now. If you are unsure, do seek assistance from a licensed financial consultant who is willing to compare and explain to you (For example, me). Speaking to a insurance agent from a specific company might provide only bias product advice.
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