All About Health Insurance
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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! -
MadScientist:
Critical Illness Early Payout policies may cover early stage illnesses compared to conventional CI policies. Do note that the premiums are much higher too. Whether it is worthwhile or not depends on individual preferences.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! -
Any advised on the health insurance?
Which is better , term or regular ?
What will be the minimum ? -
ronseng:
I believe you are comparing term with whole life policies. In my personal opinion, the cost of a term policy is lower if you intend to cover for a pre-determined period of time like 5, 10, 15 or 20 years. If the intention is to cover for a longer period like 30 years, a whole life policy is cheaper (for the insurance portion).Any advised on the health insurance?
Which is better , term or regular ?
What will be the minimum ?
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