Hi Mr Tan, do you think it is necessary to buy an integrated shield plan to get better healthcare (private hospitals) as opposed to just relying on Medishield Life?
This is not necessary, especially for older people.
I wish to share the experience of an elderly lady. She was encouraged by the agent to convert from a basic plan to a A plan that covers treatment in a private hospital.
She was diagnosed for colon cancer after a year. As she had an A plan, she was advised to go to a private hospital. She incurred a bill of $300,000.
The insurance company rejected her claim, as she did not disclose that she had diabetes at the time of upgrading. She said that the agent did not ask her about this condition. She was not educated in English and relied entirely on the agent to handle the upgrading.
The insurance company finally offered to pay $80,000 for her treatment. This was probably the amount that would have been paid under Medishield Life.
If she had remained on Medishield Life, she would have been fully covered (except for the co-insurance). By upgrading to the A plan, she had incurred a large bill that was not covered.
When a person is elderly, they are likely to have a chronic condition, such as diabetes or high blood pressure or high cholesterol. They may not be aware about it or may not be aware that it has to be declared. It is risky to upgrade a Shield plan at an advanced age.