Dear Mr Tan,
What is your view on the following comments on one of H&S plan, which seems likely to be NTUC product.
One particular famous hospital & surgical plan requires the insured to call the insurer 4 days prior to admission for non-emergency cases.
Reason? To seek the insurer permission in admission. This means the insurer can dispute the reason for admission. In the policy contract itself, it is clearly stated that any dispute will be referred to a 3rd party for mediation. Come on, a sick person cannot go for mediation and family members main priority is to get the person's condition treated. I feel that this is a joke.
Unfortunately, this is no laughing matter. Can anyone imagine the implication of a potential dispute? What happens if the insured's health deteriorates as the result of the dispute? What happens if he dies? Will the insurer be held liable? Will the adviser be liable because he was the party who had help transacted the purchase of the policy? To me this is a useless insurance. A good insurance is one that gives you the peace of mind.
On the day when you need it, it helps you. A useless insurance is one that give you no peace of mind. On the day when you need it, it can bite you and tell you to go for mediation to settle the dispute.
AP
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Dear AP
The plan that you described is our Enhanced Incomeshield plan. You can find the details of this plan, including the 4 day advanced notice, covered in this FAQ. This requirement will be exercised fairly and in the interest of the policyholder. The main aim is to prevent over charging by the doctor, with the collaboration of the policyholder.
More details are in:
http://www.income.coop/insurance/enhancedshield/faq.asp
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Hi Mr Tan,
Thanks for the info and your patience. Just signed up Preferred Incomeshield plan and riders for my wife and myself. Also bought a i-gift plan for my SRS.
Merry Xmas and Happy New Year.
AP
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