NTUC Income has announced our top-up rider for Incomeshield. It has been generally well received. Many policyholders welcome this rider.
A few members of the public have raised these questions:
1. Is NTUC Income contradicting itself by first denouncing as-charged plans and subsequently introducing it?
Reply: We recognise the concern of some policyholders that the current limits under Incomeshield are inadquate for the major illness. The top up rider will cover the more expensive treatments. We do not cover "as charged" as there are some controls against inflated bills.
2. Definition of "emergency"
REPLY: An "emergency" is a situation where it is not possible for the policyholder to contact us to get prior approval.
3. Whether its practical to wait for prior approval being being admitted to hospital.
Reply: In most cases, the policyholder can get prior approval for the major illness that are likely to exceed the limits under the basic plan. It is a good idea to have a second opinion before committing to a major treatment. Our doctor can provide the second opinion.
4. Can NTUC Income spell out the conditions more transparently? If not, I do not trust the conditions.
Reply: We have spelled out the principles quite transparently. In the actual implementation, we have to be practical and flexible. We are a cooperative, and will do our best for our policyholders.
Unlike other insurers, we do not aim to make a lot of profit from medical insurance. It is better for consumers to insure with us, as we aim to keep the cost affordable for them.
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