imsavvy Cartoon Clips

 

Go here to checkout the animated clips!

http://www.cpf.gov.sg/imsavvy/toonsgallery_ani_clips.asp

Question From Reader: Can i have two Medisave-approved Integrated Insurance Plans?

 

I was asked this question through email

Qn: Can i have two Medisave-approved Integrated Insurance Plans?

The answer is no, each individual is only allowed 1 Medisave-approved Insurance plan.

Once you apply for a plan from another Insurer your current plan with your current Insurer will have to end.

 

Feel free to send me more emails if you have other questions: mark.lim@aia.com.sg

Medisave-Approved Medical Insurance for serving Public Officers

 

AIA has been awarded the new tender to provide Medisave-Approved Medical Insurance for serving public officers and their family members (i.e. spouse and unmarried children).

Public officers and their family members will be able to enjoy specially discounted rates for AIA’s HealthShield Gold Plans.

(All full-time employees of Ministries and Statutory boards who possess a staff card issued by the Ministry/Statutory Board and their immediate family are eligible for the premium discounts)

There is quite a number of eligible Statutory Boards, i.e. A%Star, AVA, CPF, DSTA, HDB, ITE, JTC, LTA, Polytechnics, National Arts Council, NLB, URA and many others..

If you are unsure if you are eligible, please send me an email and i will check it out for you. mark.lim@aia.com.sg

Stay Healthy!

Why is Health Insurance Important?

 

Nothing is more important than your health and well-being, loss of good health can mean a loss of earnings if you are unable to work, and it can also mean medical bills that are extremely expensive.

Health Insurance can help you cover a big part of those costs and it can also help individuals to lead more healthy lives by paying for preventive measures such as regular check ups (for example, AIA’s Woman of Wisdom & Glow of Life provides free medical checkups every 2-years for ladies.)

In Singapore, most of us are covered by Medishield, this is a low-cost insurance scheme which provides the most basic protection.

In recent years medical costs have been on the rise and it can easily wipe out a lifetime of savings with just one major medical event. Even the most routine of surgeries can cost over thousands of dollars, more sophisticated procedures can easily run into the hundreds-of-thousands of dollars. Basic coverage may not be enough anymore.

Health Insurance can help you pay those skyrocketing cost and save you from financial ruin.

If you would like to know more about Health Insurance, feel free to send me an email @ mark.lim@aia.com.sg

Stay Healthy!

What type of Health Insurance Product do i need?

 

The above clearly illustrates which type of Health Insurance is needed to cover the respective needs…

 

Examples of the above Insurance products are:

Medical Expense – AIA Healthshield Gold Elite

Hospital Cash – AIA Pink of Health

Critical Illness – AIA Critical Guard

Disability Income – AIA Flexi Personal Accident

Long-Term Care – AIA Long-Term Care

 

Specially designed plans for children:

AIA Bundle of Joy

 

Specially designed plans for Women:

AIA Woman of Wisdom

Glow of Life

 

Do send me an email if you would like to know more about the above plans at: mark.lim@aia.com.sg

 

For more information about Health Insurance you may download the pdf below:

http://www.aiggeneral.com.sg/Images/GuideToHealth_English_tcm440-159217.pdf

How does Health Insurance Work?

 

A general idea of how Insurance works :)

Medishield Benefits

This is the benefits that all Singaporeans enjoy from their basic Medishield plan.

MediShield premiums are paid yearly from your Medisave Account. The premium is calculated based on age at your next birthday when the cover commences.

Medisave-approved Integrated Insurance Plans

 

Here’s a link to all the Medisave-Approved insurance plans:

http://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=342

 

Here’s a useful link to a comparison of all the plans:

http://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=11164

 

What is Hospital Cash (Income) Insurance?

 

Hospital Cash (Income) Insurance pays a daily cash benefit (fixed amount) to the insured if he is hospitalized as a result of an accidental or sickness

What is Critical Illness Insurance?

 

Critical Illness Insurance also known as Dread Disease, provides a lump sum benefit to an insured in the event that he is diagnosed to be suffering from one of the critical illness (from 30-37 diseases, differs according to insurer)

 

2 Types of Covers:

1] Acceleration Benefit

- provides for prepayment of a portion of the sum assured

2] Additional Benefit

- sum assured is paid upon the diagnosis of a covered critical illness

What is Co-insurance?

 

Insured (policy-holder) is required to pay a specified percentage of the total covered medical expenses which are in excess of the deductible.

What is a Deductible?

 

A flat dollar amount of medical expenses that the insured (policy-holder) has to pay before the insurer (insurance company) will begin making any benefit payments under the policy.

Usually imposed on Major Medical Expense Insurance

 

There are 3 types of Deductibles:

- per annum (all covered sickness or injuries)

- per disability/per year (same sickness or injury)

- per disability (or per claim)

Supplement Medical Expense Coverage

 

This is meant to enhance the cover under the H&S

 

What is covered?

- emergency assistance services

- dental cover

- maternity benefit

- organ transplant

- specific disease insurance

- surgical implant & prosthesis

- miscarriage benefit

- private nursing home care

- death benefit

- expenses under Major Medical Expense

Major Medical Expense Insurance aka Catastrophic Medical Insurance

 

What is covered?

- Expenses under the H&S plan 

- Treatments for Kidney dialysis, Cancer…

Basic Medical Expense Insurance aka Hospital & Surgical (H&S)

 

What is covered?

1] Inpatient Expenses

- daily room & board charges

- intensive care unit charges

- miscellaneous expense (X-Rays, drugs, medicine…)

- in-hospital doctor’s visit

- surgeon’s fees

- anesthetist's fees

 

2] Outpatient Expenses

- pre-hospitalization treatment charges

- post-hospitalization treatment charges

- emergency accidental treatment