Child's first insurance policy

[jean1986]

I find GE plans expensive as well. Please do not be mistaken that I'm from Pru thus bad-mouthing them. But I compared their shield plans with AIA n Pru, and is indeed higher premium.

Yes I agree any claims or admin work can be done very fast if your agent is efficient to "chase" the backend. Sometimes, the backend office does need to be "chased".

I heard before NTUC is difficult to claim. Dont know how true is it though. NTUC is inflexible as we all should know why. ancing_wub:

 

[jean1986]

but how you pay for the unsurance? thru cash?? what about those that can be paid by CPF monthly??

What you mean? Do you mean the shield plans? The basic plan can be paid via medisave. However, to cover 100%, you need to take up the rider which costs abt $20-$30+ cash monthly depends on your age.

 

[diymummy]

It depends what kind of insurance you're buying. So far, I know hospitalisation plan you can pay the premium using your Medisave.

Others that I have is paid through Giro.

For hospitalisation plan you can only claim if it's above $3k. $3k and below you gotta pay on your own. But most plans will come with a rider, which covers the $3k whcih you gotta pay but for that rider you gotta pay by cash or through Giro.

 

[Ting]

ohhhh icicicic...thanks~

i m thinking to get a hosp/medical insurance for pin, but if need to pay cash, abit tight lehs.

 

[jean1986]

ohhhh icicicic...thanks~

i m thinking to get a hospital/medical insurance for pin, but if need to pay cash, abit tight lehs.

then at least get the basic plan deducitble by medisave first. at least you got some coverage.

 

[jiaqing]

I find GE plans expensive as well. Please do not be mistaken that I'm from Pru thus bad-mouthing them. But I compared their shield plans with AIA n Pru, and is indeed higher premium.

Yes I agree any claims or admin work can be done very fast if your agent is efficient to "chase" the backend. Sometimes, the backend office does need to be "chased".

I heard before NTUC is difficult to claim. Dont know how true is it though. NTUC is inflexible as we all should know why. ancing_wub:

Not true. Based on my calculation n research, AIA's shield plan is the most expensive for a baby.

Based on my calculation n research, Pru's shield plan is the most expensive for an adult.

 

[jiaqing]

It depends what kind of insurance you're buying. So far, I know hospitalisation plan you can pay the premium using your Medisave.

Others that I have is paid through Giro.

For hospitalisation plan you can only claim if it's above $3k. $3k and below you gotta pay on your own. But most plans will come with a rider, which covers the $3k whcih you gotta pay but for that rider you gotta pay by cash or through Giro.

How much claimable depend on which plan you take. And lastly which hospital and which wards you choose when you are really need to be hospitalise.

If you ended up staying in government hospital C ward, you can claim if bill is above $1k.

If you stay in government hospital A ward or private hospital any ward type, then you can claim if bill is above $3k.

 

[stonston]

Ting, insurance for kids cannot save. If buy early is cheaper cos premium goes by age.
For now I have 1 policy that uses Medisave to pay, think is $200+ per year. Then I top up with a rider which is around $17+ per month in cash, quite affordable. Then add in personal accident (inclusive of childhood illnesses like HFMD) another $17+ per month.

Bought whole life policy for him also but can't rmb the premium cos I got confused with my own whole life & hb's whole life policies.

You plan out your $$ to see how much you willing to fork out in cash per mth for insurance, then get the agent to plan for you. I started with $50 budget only, then slowly increase when my income & expenses more stable (after we got the house & settled in). Just get basics first, the rest can get later.

Find a good agent who is willing to work within your budget for you. If you want AIA, I can introduce my agent (got to know her from SG Motherhood). Her girl is 1 day older than my boy so she knows our needs & constraints very well

 

[Ting]

stonston,if use medisave i m ok.. n if need to top up cash, if within my budget, not like hundreds per mth, im also ok..
actually right now im tryin to get the cfac for pin's CC, if granted, i will hv extra cash so i can afford. if not my mthly expenses really very tight.

can u pm me n tell me more abt the policy u took up? n also the estimation of price u pay?? at least got an estimation, i can work out n see if i can afford..thanks.

 

[apollo]

stonston,if use medisave i m ok.. n if need to top up cash, if within my budget, not like hundreds per month, im also ok..
actually right now im tryin to get the cfac for pin's CC, if granted, i will have extra cash so i can afford. if not my monthly expenses really very tight.

can you pm me n tell me more about the policy you took up? n also the estimation of price you pay?? at least got an estimation, i can work out n see if i can afford..thanks.

dearie, those only pay by medisave is only cover up to 90 (if i'm not wrong).. but if u top up cash, can cover 100%... cash is ard 200++ per YEAR.. so shd be 20-30bucks per mth =D

 

[Ting]

if mthly abt 50 bucks like tt, i think i can still afford.....
actually right now my biggest expense is pin's CC..
FM n diapers alr cut down alot cos she is taking less FM n toilet trained 75%, only slp time with diapers..
so praying hard i can quickly get the CFAC, then shld be ok liaos.

 

[diymummy]

if monthly about 50 bucks like that, i think i can still afford.....
actually right now my biggest expense is pin's CC..
FM n diapers already cut down alot cos she is taking less FM n toilet trained 75%, only sleep time with diapers..
so praying hard i can quickly get the CFAC, then shld be ok liaos.

The rider won't cost so much. If you get the rider, it's maybe abt $15 a month in cash while the hosp plan is deducted from Medisave.

Accident plan maybe abt $25 a month.

This is the amt I'm paying for my boy on AIA accident and hosp plan. But I didn't take the rider for the hosp plan.

 

[pineappletart]

I find GE plans expensive as well. Please do not be mistaken that I'm from Pru thus bad-mouthing them. But I compared their shield plans with AIA n Pru, and is indeed higher premium.

Yes I agree any claims or admin work can be done very fast if your agent is efficient to "chase" the backend. Sometimes, the backend office does need to be "chased".

I heard before NTUC is difficult to claim. Dont know how true is it though. NTUC is inflexible as we all should know why. ancing_wub:

not mistaken? ermm.... but i think you've already talked down on GE n NTUC Income le

putting the dancing wub at the end of your sentence means...?

 

[jean1986]

it's just my personal opinion that I find GE shield plan expensive as compared to others. and NTUC is difficult to claim is what I heard from others as well. You mean I can't voice my opinions because I'm a Pru agent while other mummies can?

Why do you not say that I say AIA is good in terms of claims experience of what I had feedback from others?

 

[jiaqing]

it's just my personal opinion that I find GE shield plan expensive as compared to others. and NTUC is difficult to claim is what I heard from others as well. You mean I can't voice my opinions because I'm a Pru agent while other mummies can?

Why do you not say that I say AIA is good in terms of claims experience of what I had feedback from others?

My pt of view is that it is ok to give personal opinion. But that will result misleading others as there are still mommies out there not sure about Insurance and what to look out for.

You mention that GE shield plan is expensive but when I compare the premium, AIA's shield plan is most expensive. So it will make some of us here feel that you are bias against other company.

Last n not least, dont take it too serious. We are here to share information and knowledge. So do feel free to speak up. :001_302:

 

[jiaqing]

if monthly about 50 bucks like that, i think i can still afford.....
actually right now my biggest expense is pin's CC..
FM n diapers already cut down alot cos she is taking less FM n toilet trained 75%, only sleep time with diapers..
so praying hard i can quickly get the CFAC, then shld be ok liaos.

For a budget of $50 (CASH) for a baby just to cover for a hospitalisation Rider plan and a Personal Accident plan is more than enough...

My own hospitalisation Rider plan and a Personal Accident plan is only abt $49.00

So for a baby, a basic hospitalisation Rider plan and a Personal Accident plan for a month should NOT be more than $50 (CASH).

 

[pepperphibs]

I'm a financial planner with Manulife and I do agree that GE"s plan is more expensive but it has more comprehensive coverage.

We do sell Aviva's shield plan and there have been instances where i have recommended that my client take up a GE plan instead as it suits his needs better..

More importantly, i feel that there isn't a best plan in the market as the best plan will be one that suits your individual needs/ budget. Eg, if budget is an issue, one can take up the Aviva plan so as to save on the child's premium as it offers free coverage for children till AGe 20 if both parent's are covered on the plan. But if comprehensive coverage is what you are looking for, then you can consider the other plans available.

 

[Ting]

For a budget of $50 (CASH) for a baby just to cover for a hospitalisation Rider plan and a Personal Accident plan is more than enough...

My own hospitalisation Rider plan and a Personal Accident plan is only about $49.00

So for a baby, a basic hospitalisation Rider plan and a Personal Accident plan for a month should be more than $50 (CASH).

sorry a bit lost here.. so actually for $50 is enuf or not enuf????

 

[Ting]

The rider won't cost so much. If you get the rider, it's maybe about $15 a month in cash while the hospital plan is deducted from Medisave.

Accident plan maybe about $25 a month.

This is the amt I'm paying for my boy on AIA accident and hospital plan. But I didn't take the rider for the hospital plan.

so u mthly only abt $25 in cash??

 

[diymummy]

so you monthly only about $25 in cash??

Monthly $25 cash for Accident plan

Monthly $15 cash for Rider for hospitalisation plan

Annual $xxx (forgot liaoo) for hospitalisation plan. $xxx deducted from Medisave

I'm currently paying $25 for accident plan and the $xxx for hospitalisation plan. I didn't get the rider.

I hope I didn't remember the figures wrongly but $50 is definitely enough.