Hospital Insurance
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daddy2007:
I know that they also to earn an income for their family but.. Oh well. At least the adviser now only sells me the MyShield plan. Didn't push me to buy any other products.
It is not surprise that they will push other products to you as they also need to earn an income to support themselves/family. Furthermore, selling ILP products are the most profitable for them. Seldom see any agent propose a term plan for me :sad:elderflowertea:
Agents are very important to me. I am very scared of Prudential agents. I just want to know (and buy) shield plans but they always promote other things to me. Ended up never tell me much of their shield plans. I find many of them do not have good knowledge of their Prushield. Only their ILPs products.
You might want to try those independent Financial Agent (IFA) where they are insurer-neutral (supposingly) so that they can present to you the range of shield plan for the various insurers. Else if you look for AIA agent, they will sell you their product, likewise for Prudential, Great Eastern etc. They have vested interest
hmm.... maybe by now you should have received several private messages from the agents offering to help?
By the way, I heard some IFAs actually push ILP products to you. Not all IFAs are really neutral unless those paid ones. I don't mind paying for a good adviser but the ones I know charge really expensive which is not needed for me as I just need basic financial planning now.
No need to PM me because I have already decided to sign up for the Aviva plan 1 with deductible and co-insurance riders. -
daddy2007:
Thanks! From what I know, the plan I am getting is $158.55 (by Medisave), $52 (by cash) for co-insurance rider and $195.05 (by cash) for deductible rider. If I get older and the riders become more expensive, I will just cancel either one or both riders.
NTUC withdrew their 100% deductible/co-insurance rider in Jan 2008. Luckily I got mine prior to this. So existing clients are not affected.elderflowertea:
So what will you recommend? I don't want to continue with NTUC because I want one which I can buy riders to cover the deductibles and co-insurance and is \"as-charged\".
There is a downside for 100% deductible/co-insurance coverage. The claim amount will be high and sooner the premium will be increased gradually. So I will see if one day that I think the premium is too high that I will just switch to the non-100% deductible/co-insurance rider.
Seriously I wonder if there is anymore insurer have 100% deductible/co-insurance coverage. \"As-Charged\" is a norm now.
Let me help you to ask around -
To be fair to the agents. They dont’ get full commission on every shield plan they sell. Integrated Shield Plan as the name applies. Includes the basic shield plan.
A portion of the premium you pay goes in there and the agent are not paid for that.
So if the client only buys a shield plan without rider. the comm may be only $20-30 ,which may not be enough to cover their transport expenses and time . if they treat the client to a meal. they actually incurred a loss.
My point is if you are not their existing clients or a client with future business prospect. I don’t see why they really want to invest alot of their time in it. Agents are running a business not a charity or non-profit cause, as in any business . the bottom line matters in the end. As at the end of the month there will be bills to be paid and mouth to feed.
Just my 2 cents -
AT Online Store:
But you might get referral from this person sometime down the road. So think of long term if this \"low-profit\" client didn't ask for too much (e.g asking for a meal, asking for too many different types of quotation or all sort of possible policies combination etc)
My point is if you are not their existing clients or a client with future business prospect. I don't see why they really want to invest alot of their time in it. Agents are running a business not a charity or non-profit cause, as in any business . the bottom line matters in the end. As at the end of the month there will be bills to be paid and mouth to feed.
When I meet the various agents, I normally buy them drink instead. This is something I can still afford to -
daddy2007:
I agree. I never get them to treat me anything. By the way, do you all know how much the agent can get if the client sign up for the shield plan with the riders?
But you might get referral from this person sometime down the road. So think of long term if this \"low-profit\" client didn't ask for too much (e.g asking for a meal, asking for too many different types of quotation or all sort of possible policies combination etc)AT Online Store:
My point is if you are not their existing clients or a client with future business prospect. I don't see why they really want to invest alot of their time in it. Agents are running a business not a charity or non-profit cause, as in any business . the bottom line matters in the end. As at the end of the month there will be bills to be paid and mouth to feed.
When I meet the various agents, I normally buy them drink instead. This is something I can still afford to -
AT Online Store:
Agents should aim to build a long-term relationship with the clients. Who knows the clients may have future needs or referrals to refer to the agents? Anyway, as clients, if we are just buying a shield plan, don't be so cheapskate and get the agents to treat us to expensive meals, etc lah.To be fair to the agents. They dont' get full commission on every shield plan they sell. Integrated Shield Plan as the name applies. Includes the basic shield plan.
A portion of the premium you pay goes in there and the agent are not paid for that.
So if the client only buys a shield plan without rider. the comm may be only $20-30 ,which may not be enough to cover their transport expenses and time . if they treat the client to a meal. they actually incurred a loss.
My point is if you are not their existing clients or a client with future business prospect. I don't see why they really want to invest alot of their time in it. Agents are running a business not a charity or non-profit cause, as in any business . the bottom line matters in the end. As at the end of the month there will be bills to be paid and mouth to feed.
Just my 2 cents -
daddy2007:
AIA, Aviva, GE and Prudential offer this except NTUC income
Seriously I wonder if there is anymore insurer have 100% deductible/co-insurance coverage. \"As-Charged\" is a norm now.
Let me help you to ask around -
UncleLim:
pqy:
I was going to upgrade my existing basis My shield plan currently with CPF to AVIVA as charged plan. My kids would be entitled for free coverage if myself and husband sign up the plan. Do any one of yours have experience with AVIVA. How their response in term of claim and services in any other area. tks.
Hi pqy, I signed my wife and kids up with Aviva just a few months ago. And already I have made a claim for my youngest child who underwent a small operation on her foot. We paid first and got re-imbursed within a month. Hope this helps.
My Aviva agent (but he works for an \"independent\" advisory) is helpful and mild-mannered. Anyone who would like to have a chat with him regarding hospitalisation plans can buzz me for his contact.
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Looking at GE, Avivia, AIA & Prudential I see until I blur. Which one offer the best deals cover both deductible & co-insurance in terms of 100% in pte hospitals?
I may just walk in like shopping as cannot assume the insurance agent would be around all the time.
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