Dear Mr. Tan 
I have bought NTUC Income`s Enhanced Incomeshield Preferred Plan for years. After age 55, the yearly premium is SGD1834, but the rider Premium is SGD2077.

I think the rider premium is quite expensive, may consider to downgrade the plan. May I have your advice? Next birthday I will be 56, although our employer buy a quite good hospitalization insurance, I think I have to retire from the existing employer. 

REPLY

If you find the premium to be too expensive, it is all right to cancel the Incomeshield plan and be insured under Medishield Life (managed by CPF).
I have been covered under Medishield Life for many years. 
Read this book:
https://tankinlian.com/cart.aspx?ID=2

To downgrade to Medishield Life, you can inform your insurer. They will downgrade it immediately, and give you a pro-rata refund of the premium, or downgrade it on the next renewal date. They will automatically transfer your cover to Medishield Life. You do not need to make an application for Medishield Life.