All About Health Insurance

[titank]

[Moderator's note: Topics merged.]


Hi All,

Anyone purchase any personal accident for child? Trying to find with some kind of benefits as follow:

(1)$1000-$2000 per injury. Can go medical clinic or TCM.
(2) Hospitalistaion & ICU coverage like $75/day, $150/day etc
(3) Can have some kind of refund if there is claim or no claim after certain period of duration.Eg 2, 3 years.

Those who have such expereinces so can share? Being getting calls from crdeit card centre listen until I blur on thier ins products. :!:

[jedamum]

kelamel:

Btw i am from an licensed financial co.

We represent a few insurers .....fyi those belowmentioned are highly reco to read....

http://www.income.com.sg/insurance/eldershield/
http://www.aviva-singapore.com.sg/ (look for eldershield)

Anyone bought Eldershield package for their parents?
1. Which insurer did you get from?
2. Did you take on any riders?

I have not read through NTUC's package, but a brief reading from Aviva and GreatEastern's package, Aviva's rider plans have option for lifetime benefit payable while Greateastern's comprehensive plan only has max 10yr benefit payout. Greateastern's premiums is rather transparent from their website, while Aviva's rider plan's premium rates are not available on their website.

[ZacK]

jedamum:

kelamel:

Btw i am from an licensed financial co.

We represent a few insurers .....fyi those belowmentioned are highly reco to read....

http://www.income.com.sg/insurance/eldershield/
http://www.aviva-singapore.com.sg/ (look for eldershield)

Anyone bought Eldershield package for their parents?
1. Which insurer did you get from?
2. Did you take on any riders?

I have not read through NTUC's package, but a brief reading from Aviva and GreatEastern's package, Aviva's rider plans have option for lifetime benefit payable while Greateastern's comprehensive plan only has max 10yr benefit payout. Greateastern's premiums is rather transparent from their website, while Aviva's rider plan's premium rates are not available on their website.

Sorry cant help you there... You are better off getting the answers from a practitioner, as they are more up-to-date on info related to products.

I couldnt get for my mum as she is outside of the eligible entry age range :oops:

No particular perference to any of the 3 insurers, but do notice that Aviva tend not to post their information online :roll:

For Eldershield info from :
- NTUC ( http://www.income.com.sg/insurance/eldershield/ ) Very information, think most of the info is posted online.
- Great Eastern ( http://www.eldershield.com/eshield/jsp/index.jsp ) They certainly get the thumbs up after their recent announcement to buy back the investment policies linked to the minibonds and high notes saga
- Aviva ( http://www.aviva.com.sg/individuals/disability-eldershield-mycare.htm ) Didnt find the premium info on their extended coverage, Mycare. Perhaps you may want to buzz them for more info?

[jedamum]

hi Zack,

thanks for replying.
yes, i had sent a (very long) list of inquiries to a GreatEastern's agent to get their replies.

[ZacK]

titank:

[Moderator's note: Topics merged.]


Hi All,

Anyone purchase any personal accident for child? Trying to find with some kind of benefits as follow:

(1)$1000-$2000 per injury. Can go medical clinic or TCM.
(2) Hospitalistaion & ICU coverage like $75/day, $150/day etc
(3) Can have some kind of refund if there is claim or no claim after certain period of duration.Eg 2, 3 years.

Those who have such expereinces so can share? Being getting calls from crdeit card centre listen until I blur on thier ins products. :!:

To each his own, but I usually do not like to buy insurance via credit card... If not familiar with insurance jargon better to get thru an agent or broker.

My info is not current, but based on my recollection (cant recall the reason), unless it is a specially created child personal accident plan which will allow you to purchase the plan standalone, most may require one or both parents to be insured as well before it can be extended to the kids.

Hopefully you may find the info you need from the following:
- http://www.aia.com.sg/AIA_Flexi_Personal_Accident.html
- http://www.axa.com.sg/axa_ins_sg/index.asp?pageid=products&prodid=personal&prodid2=personal&prodid3=smartcare_prime
- http://www.lifeisgreat.com.sg/en/jsp/products/products/protection/juniorprotector.jsp

[ZacK]

jedamum:

hi Zack,

thanks for replying.
yes, i had sent a (very long) list of inquiries to a GreatEastern's agent to get their replies.

Hahaha trust to you have a long list of queries ... Oh wait... Isnt this a trait of a KSP parent?

[jedamum]

Note:

for those interested in getting Eldershield Supplements (ValuePlus and Comprehensive) with Great Eastern, do note that the max entry age is 60yrs old.

[lifestylelink]

H2O:

[Moderator's note: Topics merged.]


Hi All,

There are so many kind of health insurance in the markets.
From AIA, Prudential, NTUC, etc.

Which ones is the best in terms of coverage?

Any recommendation?

There isn't any one best. There are all different mixes, cannot compare apple to apple. You can read my blog here on insurance.

http://babysamson.weebly.com/2/post/2009/07/decoding-insurance-products.html

[ann audrey]

Hi,


Does anyone know of a knowledgeable and responsible insurance agent from Aviva?

Can recommend me? Thank you

[ZacK]

This article on \"How to Pick A Financial Adviser\" from the Straits Times.


============================

Here are some things to consider when looking for a professional financial adviser. -ST

Wed, Nov 04, 2009
The Business Times

1 Relevant qualifications
Use an adviser with professional certification and ask him to declare the scope of his services. In line with the Securities and Futures Act and Financial Advisers Act, financial advisers are required to be certified under the various Capital Markets and Financial Advisory Services Examination modules, said Ms Helen Neo, head of consumer banking, Maybank Singapore. The Certified Financial Planner is one such certification.

2 Experience

You would not consult a doctor who had graduated just yesterday. Doctors serve in hospitals for a while to get practical experience; similarly, it pays to find a financial adviser with a few years of experience.

If you are a mass affluent investor - young with an annual household income of about $72,000 - you could engage an adviser with about three years of experience, while a top-end affluent client - in your late 30s with an annual family income of at least $250,000 - should go for an adviser with about 10 years' experience, said Providend chief executive Christopher Tan.

3 Independence

Some advisers who sell insurance policies, securities or unit trusts have relationships with the firms providing these products. The advisers may also earn a fee from referring you to an accountant or lawyer when the plans are implemented. These commercial relationships should be disclosed to you, said Mr Ben Fok, chief executive of Grandtag Financial Consultancy. He suggested that investors ask for a description of the adviser's conflicts of interest in writing.

Mr Tan said investors who want to engage an independent adviser should avoid insurance firms and banks as their advisers would typically have access to only 'house brands'.

4 Relevant licence

Deal only with advisers licensed by the Monetary Authority of Singapore (MAS). You can check if a firm or individual is authorised by using the MAS website or asking to see the original of the adviser's licence, said Mr Fok.

5 Firm's reputation

Reputation is important. Check the website and read the corporate profile.

6 Comprehensive advice

The adviser should conduct a proper fact finding of your financial health situation. Besides the financial analysis, ask how you can access your money in the event of an emergency, said ipac's Mr Greg Campbell.

'Your adviser should be able to provide regular written reports, and you should look for signs of excessive or unauthorised trading of your account. Also, you should be advised on proper disclosure on exit clauses, surrender charges and sales commissions,' he added.

7 Team approach

Financial planning is usually not done by one person. How can a professional adviser be an expert in investments, insurance, legal matters, tax and other areas? Mr Tan suggested working with an adviser who specialises in general financial planning but who is also supported by specialists in particular areas.

If the adviser works with professionals outside his own practice, such as lawyers, property agents or tax experts, to develop recommendations, check their backgrounds and ask if additional charges are involved, said Mr Fok.

This article was first published in The Straits Times.