Insurance

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caydendaddy

Alpha Male
CynCyn said:
  1. If buy the hospital policy how long must I pay until ? What age for my DS
This would be dependant on what type of policy are you talking about and etc
  1. If I nv get to use the policy and i'm continueing paying evry month , am I able to use it if DS 4-5 yrs old fall sicks etc ?
When you are buying an insurance, you are actually asking the insurance to take over the risk for you in return for a monthly premium on your side. so if the policy was never use for (e.g 1st 5 years and then something happen on the 6 year) yes, you can still make the claim against your policy provided that you are still paying the monthly premium when the claim happen.
  1. So is it the longer u pay for the policy , the more things they cover in hospital ? At least I can give my DS the best medical attention and ward etc ?
It got nothing to do with how long you pay but rather what is the amount of cover that you are looking for in the first instance and also depend on whether would the insurance company do a review of that plan and enhance it with or without additional charges.
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Read highlighted, hope it helps
 
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C

caydendaddy

Alpha Male
LoVeS said:
i tot everyone got medishield by default?
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Medishield was never by default until it is made compulsory recently by the health ministry. However, i think it will starts only for baby born from December this year.

Correct me if I gave the wrong month:001_302:

By the way, I am not an insurance agent.
 
sal

sal

Member
caydendaddy said:
Medishield was never by default until it is made compulsory recently by the health ministry. However, i think it will starts only for baby born from December this year.

Correct me if I gave the wrong month:001_302:

By the way, I am not an insurance agent.
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some ppl opted out from medishield...perhaps they dun see the need then or same thing..do not understand the fundamentals of the plan.

They oni see moni being taken out from their account and no returns..so they opted out.

caydendaddy..u're rite abt the new shield plan for bby..oni going to happen then.
 
sal

sal

Member
  1. If buy the hospital policy how long must I pay until ? What age for my DS ?
hospital plans are usually yearly renewable. For u're DS's age perhaps u're paying ard $91/year using yr medisave. Tat's less than a dollar a day. If u decided that u dun want to cover him anymore, can request to termnate it.
  1. If I nv get to use the policy and i'm continueing paying evry month , am I able to use it if DS 4-5 yrs old fall sicks etc ?
As long as the policy is still in force, u can claim. Claims will be depenable on the type of plan u got for him.
  1. So is it the longer u pay for the policy , the more things they cover in hospital ? At least I can give my DS the best medical attention and ward etc ?
Depends on the plan u have opted for. There are plans that cover only restructured hospital, plans for pte hospital... of cuz if u have selected pte hospital then expect to pay a higher premium.
 
sal

sal

Member
LoVeS said:
such insurance i dun tink can get back $$ rite, if no hospitalized isnt it waste $$?
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It's for a peace of mind my dear.

Or see it n another way, if something happen...do u want to be freting over moni issues..deny treatment if it's expensive..or go ahead wz treatment and dun have to worry abt bill...Let someone else pay for you.

I remembered i bought a plan from another company B4..when i was 18yo...paying $18/mth and for a R&B reimbursement of $30...now tat is a waste of moni.

Cyncyn, u are working rite? chk wz yr HR is they cover yr child's medical or not..some company does.
 
LoVeS

LoVeS

Well-Known Member
sal said:
some ppl opted out from medishield...perhaps they dun see the need then or same thing..do not understand the fundamentals of the plan.

They oni see moni being taken out from their account and no returns..so they opted out.

caydendaddy..u're rite abt the new shield plan for bby..oni going to happen then.
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Me aso under medishield but wat is tt medishield for ah?
 
LoVeS

LoVeS

Well-Known Member
sal said:
  1. If buy the hospital policy how long must I pay until ? What age for my DS ?
hospital plans are usually yearly renewable. For u're DS's age perhaps u're paying ard $91/year using yr medisave. Tat's less than a dollar a day. If u decided that u dun want to cover him anymore, can request to termnate it.
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Eh...is it as kid grow older the $$ u need to pay increase aso?
 
sal

sal

Member
LoVeS said:
Me aso under medishield but wat is tt medishield for ah?
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It's a hospitalisation plan under CPF. It helps to cover yr hospitalisation charges.

But the cover is minimal. Tat's why the govt are allowing the private insurer to offer shield plans as well...with more coverage.

U can have information on what it covers from CPF website: CPF Board - MediShield Scheme - my CPF 2

U shld be able to find most details there.
 
S

Sheree

New Member
I bought an investment-linked policy for my ds, accident shield and healthshield policy for him too under AIA. I find that the package is quite tailored to my needs.

My DH bought an endowment policy for ds under Aviva too. :tlaugh:
 
Celina

Celina

Member
i bought a saving n education plan for my boy wen we both discharge frm hos, but only can have it submitted aft 1 mth. mine is under manulife.
 
B

bbjan

New Member
I have met up wif my AIA agent and will be getting a saving plan for my DS education needs. Its called Global 18. Annual premium around $2400. Will be signing up the Health Shield for her as well.
 
shopaholic

shopaholic

Member
Bot hospitalisation plans for my kids. Medical costs is going up, feel this is necessary to cover the medical expenses.

Also bot education saving plans (from Great Eastern) for them. When they hit 20, they will hv a sum of money. Can use it for tiertiary education.
 
aiko_meimei

aiko_meimei

Member
had brought NTUC insurance for him and a saving retro for him...

and my dad had brought him a insurance cum saving at citibank for him too which the interest quite high.​
 
aiko_meimei

aiko_meimei

Member
for the ntuc i paid 2oo monthly after 1yrs then i will cash back some cash yearly...

for the cititbank i think u need thousand plus to open and account then after tat if i am not wrong is like less den 5o ba... cause tat one not i paid for it is my daddy save for my son for his eductional
 
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