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Should I buy an integrated plan?
15 Sep 2019 (16 views)

Dear Mr Tan,
I watched your video about the Integrated Shield plan and who should buy this plan. I am in my late 30s and am working in a company that has quite a decent medical insurance coverage for its employees. I have been putting my money in short-term endowment plans and as expected, the insurance agent is trying to persuade me to buy Integrated Shield plans and critical illness plans.

If my company provides good insurance coverage, isn't it unnecessary to get an Integrated Shield plan? On the other hand, I understand that Integrated Shield plans cover pre-hospitalization and post-hospitalization procedures, which are excluded from Medishield Life. I also understand that Integrated Shield plans provide more coverage for cancer treatment than Medishield Life.

REPLY
There is no need for you to buy the Integrated plan. You are just wasting your money.
You are already covered under Medishield Life and your company's medical coverage.
The pre- and post-hospitalization coverage under the Integrated plan is subject to its limitations and may not be necessary.
While the integrated plan does provide some coverage that may be excluded from your current coverage, the cost of the coverage is likely to be higher than the real benefit that you can get.
I would certainly reject the integrated plan, if I were in your position.


Should I buy an integrated plan?
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Dear Mr Tan,
I watched your video about the Integrated Shield plan and who should buy this plan. I am in my late 30s and am working in a company that has quite a decent medical insurance coverage for its employees. I have been putting my money in short-term endowment plans and as expected, the insurance agent is trying to persuade me to buy Integrated Shield plans and critical illness plans.

If my company provides good insurance coverage, isn't it unnecessary to get an Integrated Shield plan? On the other hand, I understand that Integrated Shield plans cover pre-hospitalization and post-hospitalization procedures, which are excluded from Medishield Life. I also understand that Integrated Shield plans provide more coverage for cancer treatment than Medishield Life.

REPLY
There is no need for you to buy the Integrated plan. You are just wasting your money.
You are already covered under Medishield Life and your company's medical coverage.
The pre- and post-hospitalization coverage under the Integrated plan is subject to its limitations and may not be necessary.
While the integrated plan does provide some coverage that may be excluded from your current coverage, the cost of the coverage is likely to be higher than the real benefit that you can get.
I would certainly reject the integrated plan, if I were in your position.