Dear Mr Tan,
Recently I received my renewed incomeshield with the attachment of Endorsement E0901 stated that with effect from the renewal date, the following new definitions shall replace and supersede the existing definitions by the same name appearing in the "definitions" section of the policy.
Can you comments over all those definitions? How are they different from the previous definitions? Any 'small prints' that we should be aware of & take exception? I think those who are in this scheme received the same endorsement.
REPLY
I suggest that you write to NTUC Income and ask them for an explanation of the effect of the change in definition. It is their duty to provide a satisfactory explanation to you. If you have received the explanation, you can send them to me for a second opinion.
Hi Mr. Tan,
ReplyDeleteI hope to hear your opinion on this if you can help.
My wife has an Incomeshield medical insurance for more than 6 years now. She has always pay her yearly premium based on the published rate for her age range.
Recently, for the first time in her life for sicknes, she was hospitalised and submitted a successful claims through Income. But on her recent renewal of the policy, Income has raised the yearly premium for more than 10% above her age group.
I wish to know is this reasonable and is this also the practice by other insurance companies in Singapore to raise medical insurance premium once with claim experience?