Insurance for ur child

sufeit0115

sufeit0115

Member
iwan2noe said:
Hi green_kiwi,

What is the name of the accident insurance that you have gotten for your child ? can share with me ?

so cute even ants bites also covered :)
hehe
Click to expand...
just bought this accident insurance for baby, it's called AIA Star Shield, this even covered hand, foot & mouth disease, dengue fever, food poisoning & even insect bites!!
 
Last edited:
J

JoyBliss

Member
sufeit0115 said:
just bought this accident insurance for baby, it's called AIA Star Shield, this even covered hand, foot & mouth disease, dengue fever, food poisoning & even insect bites!!
Click to expand...
So cool! Thanks for sharing!

I still blur blur, is PA for a baby same as "Accident and Hospitalisation" insurance?
 
sufeit0115

sufeit0115

Member
JoyBliss said:
So cool! Thanks for sharing!

I still blur blur, is PA for a baby same as "Accident and Hospitalisation" insurance?
Click to expand...
Hmm..I'm not really sure cos just bought this from my cousin ...but this Star Shield plan has medical reimbursement benefits covered inpatient as well as outpatient, but amount is not much and medical charges must be resulted from accident or the above "diseases" then can claim.

If you are looking for comprehensive medical, hospitalisation & surgical insurance , think you should buy another medishield plan for baby. This is what i do. Just my personal view though. It's better to seek professional advice from your trusted insurance advisor. :)
 
littlemoomoo

littlemoomoo

Member
Hi Mummies,

This is what i intend to buy for my children. I'm a financial consultant myself so this is what i will plan for my family within our budget:

Priority (In terms of budget):
1)Shield plan with rider -covers accidental outpatient claims, in patient ward & surgery claims. I will take the A ward/Premier/Preferred category of shield plan which can cover up to Private hospital A ward in case my children need to see specialists in Private hospital. It is also always easier to downgrade to other plans later but if you take a lower plan and intend to upgrade later on, it will depend on your claims experience and may not be approved by insurance company.
2) Life insurance with Critical illness coverage- I would choose investment-linked one (ILP) if i dun intend to buy another child education policy, the logic is the accumulated investment/cash value can later on be withdrawn/surrendered for educational purchase. Also, typically I-L policies cost lesser with higher sum assured.

Just my 5cents worth. :)

Littlemoomoo
 
J

JoyBliss

Member
littlemoomoo said:
Hi Mummies,

This is what i intend to buy for my children. I'm a financial consultant myself so this is what i will plan for my family within our budget:

Priority (In terms of budget):
1)Shield plan with rider -covers accidental outpatient claims, in patient ward & surgery claims. I will take the A ward/Premier/Preferred category of shield plan which can cover up to Private hospital A ward in case my children need to see specialists in Private hospital. It is also always easier to downgrade to other plans later but if you take a lower plan and intend to upgrade later on, it will depend on your claims experience and may not be approved by insurance company.
2) Life insurance with Critical illness coverage- I would choose investment-linked one (ILP) if i dont intend to buy another child education policy, the logic is the accumulated investment/cash value can later on be withdrawn/surrendered for educational purchase. Also, typically I-L policies cost lesser with higher sum assured.

Just my 5cents worth. :)

Littlemoomoo
Click to expand...
Hi Little Moomoo mummy,

Thanks for sharing. I still looking for a medical expense insu. for my son.

Ref to Pt(1), are you referring e.g. Medishield Integrated (linked to CPF)?
Is it better to buy one solely under the child's name, or just cover the child under the parent's? Is there any different?

What is the different in ShieldPlan from PA? Is it necessary to get a PA?
 
littlemoomoo

littlemoomoo

Member
JoyBliss said:
Hi Little Moomoo mummy,

Thanks for sharing. I still looking for a medical expense insu. for my son.

Ref to Pt(1), are you referring e.g. Medishield Integrated (linked to CPF)?
Is it better to buy one solely under the child's name, or just cover the child under the parent's? Is there any different?

What is the different in ShieldPlan from PA? Is it necessary to get a PA?
Click to expand...
Hi JoyBliss,

It is better to buy the Medishield Plan (deducted from CPF) under the child's name as the coverage is broader, if under parent's name, there is usually limited coverage. Also, if you can afford a little more coverage, do buy the medishield rider (deduction by cash every year) along with medishield CPF one as there is always a co-insurance 10% factor together with an excess (or deductible) which you will have to pay if you do not have the rider.

For example, you purchased the medishield plan under Class C which means if you stay in class C public hospital ward, you can claim from medishield insurance. So if your hosiptal bill comes up to $1000, you can claim however only $550, $1000 less the deductible is $350 and co insurance in 10% of $1000=$100 if you did not buy the rider. Hence in order to enjoy full claims benefit, do get the rider attached. The rider is usually the same cost as the medishield plan.

:Dancing_wub:

Littlemoomoo
 
shiyi

shiyi

Member
juz bought an AIA 24-yr savings plan n healthshield elite for bb..
will purchase Starshield when bb learns to walk for coverage in the event of any personal accidents...
 
J

JoyBliss

Member
littlemoomoo said:
Hi JoyBliss,

It is better to buy the Medishield Plan (deducted from CPF) under the child's name as the coverage is broader, if under parent's name, there is usually limited coverage. Also, if you can afford a little more coverage, do buy the medishield rider (deduction by cash every year) along with medishield CPF one as there is always a co-insurance 10% factor together with an excess (or deductible) which you will have to pay if you do not have the rider.

For example, you purchased the medishield plan under Class C which means if you stay in class C public hospital ward, you can claim from medishield insurance. So if your hosiptal bill comes up to $1000, you can claim however only $550, $1000 less the deductible is $350 and co insurance in 10% of $1000=$100 if you did not buy the rider. Hence in order to enjoy full claims benefit, do get the rider attached. The rider is usually the same cost as the medishield plan.

:Dancing_wub:

Littlemoomoo
Click to expand...

Thanks Littlemoomoo,

Mind sharing any good plans (deductible from my CPF) for ds?

I see, so with the rider, it become "as charged"... a side-track, if under my own name, i decide to extend coverage to my parents, what will be the types of additional costs?
 
J

jiaqing

New Member
As far as my research for shield plan for 3 companies, AIA n GE and Prudential.

Shield Plans (Payment via Medisave) and Rider (Payment via Cash)

All Shield Plans come with Deductible and Co-Insurance.
Deductible ranges from $1000 to $3000. Depend on Private/Government Hospital and type of ward.
Co-Insurance is 10%

Rider Plan is to cover the Deductible and Co-Insurance. There are additional benefits for these Rider Plan.


Only theses 3 companies AIA n GE and Prudential - have a Rider Plan that provide 100% coverage on the Deductible and Co-Insurance.


Comparing the price,
Example: Shield Plan + Rider
Premium period: 21 yrs. Start to buy when my child is age 1 and stop paying when he is age 21. At age 21, I will get him to buy his own Shield Plan using his own Medisave.

Prudential is the most expensive follow by GE. Cheapest is AIA.



Comparing the claim turnover rate,
I read from MOH website, GE only need 1 day to process the claim.
The other 2 companies that need only 1 day to process the claims is Aviva and NTUC.


I choosen GE Shield Plan and Rider Plan. J
 
J

jiaqing

New Member
JoyBliss said:
Thanks Littlemoomoo,

Mind sharing any good plans (deductible from my CPF) for dear son?

I see, so with the rider, it become "as charged"... a side-track, if under my own name, i decide to extend coverage to my parents, what will be the types of additional costs?
Click to expand...

JoyBliss,

There are 5 insurance companies that you can buy Shield Plan.
They are Aviva, NTUC, GE, AIA and Prudential.

Currently these 5 companies' Shield Plan, they have plans that offer the Limit of claims "As Charged"

Using your own Medisave account, you can buy Shield Plan for yourself, your spouse, your kids and your parents. Maximum payment via Medisave is $800 per policy per year.

Example:
You buy 1 Shield Plan for yourself.
Each year, you have up to $800 to deduct from your Medisave to pay for your own Shield Plan.

You also buy 1 Shield Plan for your first kid.
Each year, you have up to $800 to deduct from your Medisave to pay for your kid Shield Plan.

You also buy 1 Shield Plan for your mother.
Each year, you have up to $800 to deduct from your Medisave to pay for your kid Shield Plan.
 
shiyi

shiyi

Member
paid bout $14+/annual for bb's aia healthshield plan... if u wanna add rider, it has to be paid in cash.
no matter warded govt or private hosp all expenses are as charged.
 
J

jean1986

Member
just wanna add. Prudential's shield plan that is deducted by medisave is actually cheaper than others. but the rider is more expensive as compared to the rest.
 
littlemoomoo

littlemoomoo

Member
JoyBliss said:
Thanks Littlemoomoo,

Mind sharing any good plans (deductible from my CPF) for dear son?

I see, so with the rider, it become "as charged"... a side-track, if under my own name, i decide to extend coverage to my parents, what will be the types of additional costs?
Click to expand...

Hi JoyBliss,

You can go to https://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=342 for the updated list of all the medishield insurance plans in Singapore.

If you want apple to apple comparison, compare the best plans each insurance company offers. From the table, NTUC is the cheapest in terms of main plan and rider.

Happy shopping!:Dancing_tongue:

Littlemoomoo
 
J

jiaqing

New Member
From my research I got this:
It might be helpful while you look for your best plan.

NTUC's Shield Plan + Rider:
Shield Plan payable via Medisave
Rider payable via Cash
In an event of hospitalization: With Rider payable in Cash, I still need to pay 10% of the bill.

Aviva's Shield Plan + Rider:
Shield Plan payable via Medisave
Rider payable via Cash
In an event of hospitalization: With Rider payable in Cash, I still need to pay the deductible.

AIA n GE and Prudential Shield Plan + Rider:
Shield Plan payable via Medisave
Rider payable via Cash
In an event of hospitalization: With Rider payable in Cash, deductible and co-insurance are 100% covered.


I choosen GE's Shield Plan n Rider Plan for my whole family.
I compared the amount of $ that I need to pay for Shield Plan and Rider Plan for myself, hubby and my little boy. I realise GE is the cheapest.

If any of you need to compare for your whole family, can let noe know.
I can help you to compare. All I need is your age/ur spouse age/your kid age at next birthday.
 
J

jiaqing

New Member
jean1986 said:
I understand NTUC is the cheapest and they also provide Letter of Guarantee means no need to pay upfront yourself first. is that right?
Click to expand...
Correct. But even if i add on to buy the rider plan from NTUC, I still need to pay 10% of the bill in cash from my own pocket.
 
D

deelady

New Member
Dear Mummies,

I'm a financial adviser myself. I'm from Great Eastern.

Just to let you know, i'm not here to promote Great Eastern shield plan.

When you buy a plan, do you want the company to tell you what they dont cover, or you just want them to focus on the what they can cover.
Leave out the bad and focus on the good?

Some plans might be cheaper but there are point to look out for.
for those with NTUC and Prudential. point to note

-go check out their accredited clinics, so that in case of emergency you know where to go thus to prevent problem like, not being able to claim because you go to your family doctor which is accredited by them.

-for females, i think pregnancy complication is important right. If you would like to compare, go check out prudential website
PruShield
(under CLAIMS tab, Q6)

As for AIA,
- Just take note of which plan you got. AIA like NTUC never take down their old shield plans thus pls if urs covers all the way to Private hospital, price is maybe steeper and they have many caps. thus just take check which suits you all better.

AIA's PA plan is consider comprehensive enough :)

I have the comparison table for all companies and GE pregnancy complication list if you need, you can PM me =)
I'm promise to assure you the best


cheers to all mummies!
 
J

jean1986

Member
Prudential doesnt covers all kinds of pregnancy complications, thus insurance companies come up with women's plans to cover that part?

anyway, as this is a thread on insurance for your child, i believe it is important to take one with a rider and covers 100% of the hospitalisation costs regardless of which insurance company it is.

Comparisons can easily be found on the MOH website which littlemoomoo has provided the link.

Just a little reminder to mummies out there, hospitalisation costs will automatically be done by the hospital side, but do remember if there's any pre or post-hospitalisation cost, also can be claimed.

As I've seen many who claimed for hospitalisation stay, but forgot to do so for the post-hospitalisation expenses.
 
You must log in or register to reply here.
Top