All About Health Insurance
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Does anyone know?
Say if person A bought insurance and he claimed it for knee cut injury. Would his premium go up the next round when payment is due? :? -
Which companies have the best health insurance? Can anyone recommend a good agent?
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I have just signed up hospitalisation insurance for my wife and child this morning. At the same time, a friend of mine is fighting with a private hospital regarding his wife’s hospital bill. So this brings to my mind another angle to look at buying insurance… that of Responsiveness for Claims.
Without putting anyone down, we all know insurance agents are most helpful when they have a policy to sell you. They answer your calls and visit you in your home or wherever most convenient to you. But where do they go when you have a claim to make?
In my friend’s case, while his wife lies in the hospital bed, the insurance agent who sold them the policy is "on course". The colleague has taken over his case but she is "quite busy" and difficult to hunt down. In the meantime, my friend is calling friends and relatives for loans to pay the hospital bill because the insurance company and the hospital disagree on the claiming process.
The same goes to bank sales people trying to sell you their financial products. To cut a long story short, a big bank mortgage specialist was so friendly until I decided to postpone signing on the dotted line. Suddenly his SMSes became short and curt, if not downright rude.
This are just my experiences to share with you - so that you do not just look at the nice colour brochures, product info and other details.
In the meantime, keep healthy! -
What is hospitalization policy? Is it health or acident??
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smurf:
What is hospitalization policy? Is it health or acident??
Hi smurf, it is both I believe. The policy helps you when you are hospitalised due to illness or injury by paying for your hospital and doctors' charges. -
UncleLim:
Yes indeed... there are a couple of variations.smurf:
What is hospitalization policy? Is it health or acident??
Hi smurf, it is both I believe. The policy helps you when you are hospitalised due to illness or injury by paying for your hospital and doctors' charges.
The Shield-type of plans cover bills and are likely to have deductibles and co-payments, and options are available for add-on to make it \"as charged\".
There are also hospitalization cash benefit policies which pay a particular sum per day, etc.
And there is a personal accident policy which is effected only in accident cases. -
smurf:
Depends on what kind of insurance...Does anyone know?
Say if person A bought insurance and he claimed it for knee cut injury. Would his premium go up the next round when payment is due? :?
typically...
The hospitalization expenses policies (Medical Expense Insurance) premiums are based on age band basis.
The hospitalization cash benefits policies typically have some NCD... I verify that it is age banded premiums, although I think it is. -
smurf:
What is hospitalization policy? Is it health or acident??
You may wish to refer to consumer guides that the Life Insurance Association has created for public awareness.
http://www.lia.org.sg/consumers/library/consumer_guides -
There is one insurance policy that i recently took up. It is a new policy in the market
according to my financial planner. This policy covers you when you are in the beginning
stages of a serious illness. Most policies cover hospitalization or late stages of a critical
illness. But if you are in early stage and you need to still consult a doctor, take medicine,
you have no policy to cover. I thought this was a good policy to have.
I was thinking of getting for my children too but wondering if they are too young for this. -
coolit:
There is one insurance policy that i recently took up. It is a new policy in the market
according to my financial planner. This policy covers you when you are in the beginning
stages of a serious illness. Most policies cover hospitalization or late stages of a critical
illness. But if you are in early stage and you need to still consult a doctor, take medicine,
you have no policy to cover. I thought this was a good policy to have.
I was thinking of getting for my children too but wondering if they are too young for this.
That's Critical Illness Early Payout... Many didn't know that the conventional CI plans pay out take time and in or partial for some, eg. Not so critical... When in stage I/II/III cancer or something like that.
For children, as they do not have an income, CI is probably more relevant as a rider on the Life policy, or perhaps ILP, IMHO. Again, find out clearly under what circumstances the payouts are activated.
Children have a higher tendency for certain cancers and a few other conditions.
All the best!
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