NTUC Income brings back the Enhanced Incomeshield Rider is a PLUS !

NTUC Income must have been losing big time market share to their nearest rival, that they are now forced to bring back their PLUS rider (with a catch) :

You can only buy the PLUS rider if you are on their Preferred plan (the highest plan) the Enhanced Incomeshield Plans; PLUS rider is not offered to the basic incomeshield plans (it has to be the ENHANCED incomeshield);  you will need to continue with their Assist rider for their basic incomeshield plans.

Assist Rider Benefits 
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The difference between the Plus & Assist rider?
Zero deductible and co-insurance

Actually NTUC Income was selling the PLUS rider years back but decided to pull it out, probably after they felt that people were abusing the health insurance and since they were the only company offering the rider at that time; it must have burned a hole in their wallet and now that Aviva is proving to be successful with it, NTUC Income decided to put it back.

For those who bought the PLUS rider years back; remember to keep your payment of the Plus rider up to date as back then, you can add it to ANY plan but once you lapse it this time, you can't reinstate it back to your original plan, but only to buy the highest (Preferred) plan before Income will allow you to add the Plus rider back.

OK, enough of history lessons. If you want to have a comparison of the rates, here's a snapshot of BOTH riders. (as at 23 April 2015) The rates may change, so kindly contact us if you are interested in getting the plan for the updated premiums.

Assist Rider Premiums 
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PLUS Rider Premiums
(Click on image to enlarge)

For those who are new to this: Please note that the riders' premiums are payable by cash; whilst the premiums for the Basic plan, Enhanced Incomeshield is paid by your Medisave. You can read more about Enhanced incomeshield in my previous post or just check out their brochure.

One BIG advantage of NTUC Enhanced Incomeshield is that they offer LOG (Letter of Guarantee), which ensures you do not have to cough out your own cash upon admission to a hospital, unlike many of the other insurers (which works on a reimbursement basis; you pay first and the insurer pays you back on approval of claims).

However, if you are currently unsatisfied with your servicing agent or are currently served by NTUC direct but prefer to speak to a LIVE person; please read my other post.

For HR Managers who want us to share more about Integrated Shield plans with your staff, feel free to contact us too.

Increase in Medisave withdrawal limits for Medishield & "Shield Plans"

The Health Ministry in Singapore is increasing the Medisave withdrawal limits for MediShield and Integrated Shield plans premiums.

The attached

Revised Medisave Limits for "Shield" plans

revised limits will apply to all new business and renewal policies effective from 1 November 2013.

The Most Feared Situation In Insurance Industry

Last week I had to go through an uncomfortable and somewhat fearful situation in my line as an IFA.

In my course of work in the insurance industry, medical plans have been very important to me as I actively promoted them to my friends and clients alike, more so since I now belong to the middle age class.

A close contractor friend of mine delivered a shocking news to me 2 weeks back to say that he has contracted cancer. Though still in an unbelievable state that the father of three teenage kids who was very active in badminton could also be hit by the disease, I was certain that at least he had some insurance policies, sold to him when I was with my previous insurer as a tied agent.

However, a final check with the insurer last week, revealed the greatest nightmare anyone in his position can have...all his policies were LAPSED in 2007! When I checked with my friend, he did admit that in his busy schedule, he might have forgotten to pay "a few" of his policies. He was also someone who wanted to monitor his finance closely, as such, never liked the idea of GIRO (auto deduction from his bank account).

Last Friday, I had to break the news to his wife as to why with the potential high costs of medical bills, there will be no cheque payment for her husband's policies. To me, it was really a situation I do not wish to be in again.

So my encouragement to all who is reading this post, do monitor your policies closely and not let your loved ones pay for your busy schedule. Insurance may be the last thing on your mind when you are successful, but it's something which my ex-boss used to say : "Insurance is a piece of paper where your spouse will never question why you are paying so much for."

Medical Outpatient Plan in Singapore

Years ago, I remembered spending S$1000 in 1 month just on my son and his respiratory problem (a common ailment for toddlers). During those days, the medical insurance industry in Singapore was still at an infant stage and the only plans available were only for inpatients in a hospital.

Fast forward 13 years and now Aviva has such a great plan which I thought I should share on some great features about it. Though initially launched as an inpatient hospitalization plan with the outpatient benefit thrown in as an added feature, personally I feel more people are buying it for the outpatient advantage! Some of its benefits include:

• S$10,000 claim limit (with $50 excess per visit)


• MRI,CT Scans, lab tests and medications are payable


• FREE medical examination with doctor's evaluation every year

It's a wonderful plan to have as part of your medical insurance portfolio, especially for the young, when respiratory cases are prevalent in countries like ours. Feel free to email me for more details, if you would like to know more.