Hi Mr Tan Kin Lian ,
I hope you can advise me on this Medishield upgrade . Presently my wife and i are both 59 years and on basic
Medishield . I am wondering whether it is better to upgrade and even buy riders to cover the deductibles and co-insurance . I am thinking not so much about a better bed in the hospital but whether the present basic Medishield is adequate enough to cover major illnesses . Another worry is the annual limit to medical claims for basic Medishield and also riders are paid in cash .
REPLY
Please read my views on Medishield in these many articles. After that, you have to make your own decision.
NOTE: Consumers should attend the talks on Financial Planning and Life Insurance organised by FISCA. More details can be found at http://easyapps.sg/assn/Org/Event.aspx?id=5. (The last talk on Life Insurance was cancelled due to lack of response.) Consumers should attend these talks and be educated, rather than expect to get free advise to their specific questions - as they may end up being conned by dishonest advisers.
Even a private B plan will cost you a bomb at this age. You also require underwriting. At your age I doubt you don't have medical conditions.
ReplyDeleteIt is better to stay where you are. If you are hospitalised choose a C ward and get subsidy. Deductible and co insurance is not big for medishield.
If you are being treated for a critical illness the treatment cost is also subsidised and it won't cost you a limb unless you want the attention of John Hopkin clinic or Mayo.
I am surprised you take your sweet time to realise H&S is important at old age.I am sure you now have medical conditions and you fear death. Don't worry death is only ONCE in a life time.