Dear Mr. Tan,
The premium for my Incomeshield Plus rider has increased from $163 to $276 - an increase of more than 69% for those age group from 41 to 50. This is more than 8 times our GST rate! How can Singaporeans afford a reasonable health insurance with this kind of rate?
NTUC has also have a social mission of providing a reasonable affordable low cost insurance and stablizing food prices.
Is there any body to check on the NTUC insurance for the recent hefty increase in premium! It will definitely affect the middle income family.
REPLY
If you are a member of a trade union, you can write to the secretary general of NTUC to voice your concern. If not, you can write to the chairman of the board of Income. All the best.
Mr. Tan was the ex-CEO of NTUC Income and I believe also a former Board Member. You can be sure that he has brought up the notion that the present NTUC Income is no longer the caring face of the nation like in the past. If his pleas has fallen on deaf ears, what makes you think that the Chairman of the board will listen to you? Trade Union? Even Lim BH and Lim SS are indifferent to these issues. I have written to them before. The only recourse you have is to make your vote be felt the next election!
ReplyDeletethe reason why the rider premium increased so much due mainly to high claim experience instead of GST adjustment.
ReplyDeleteif you can't afford the rider, just give it up, the rider is a luxury to have not a must to have. Keeping the main plan is more than sufficient.
I encourage each policyholder to write to the NTUC secretary general or the chairman of the board.
ReplyDeleteIf they get many letters on this issue, they may pay attention to this matter.
I thought these are Division 1 leaders? Why do Division 1 leaders need to receive letters from the common citizens before they realise there is a problem? Why are they paid millions while the common folks spend their own time and own money on postage to inform them that they need to do the needful? in short, why are we spending our time and our money to do their job so that they can earn their millions?
ReplyDeleteI don't think they will show concern on this issue. If they were to drop the premium again, won't this show they being indecisive and fickle minded? Only hitting their own face if they were to do that.
ReplyDeletehongjun
It is good for more policyholders to have their voices heard. This will make the leaders wake up and be aware about the feelings of the policyholders.
ReplyDeleteA few months ago, I cancelled my Shield Plus rider. I decided to take this risk on my own. At least 30% of the premuim goes to expenses. Only 70% goes to the claims.
ReplyDeleteAs the Rider covers the Deductible, which is quite affordable, the policyholder can pay for it from the Medisave (and does not need to insure this portion).