Top Up Rider for Incomeshield

QUESTION:

Dear Mr Tan,

I am a fan of your blog. My family are gratefully insured under Incomeshield for many years. Your recent discussion on affordable medical insurance prompts me to seek your advice.

In about a week's time, my father is likely to undergo an angioplasty op by a referred doctor in SGH's National Heart Centre, likely under "minimum" B1 ward. Based on our calculation, we may be able to claim less than half of the hospital bill from Incomeshield. My dad is under Plan B.

This prompts me to think of getting my family a second medical plan (a backup) that may cover the higher cost should special circumstances that need private or Class B1 govt ward arise in the future.

However, we do not wish to give up on Incomeshield which we have great faith in in taking care of us in decades to come. And I know private medical plans are very
expensive (as you have mentioned) and also have to be paid by cash.

I would like to seek your advice on whether NTUC Income (and/or CPF Board)
allow one to take up both Incomeshield (paid with cash instead) and another
Shield plan (e.g. Aviva's MyShield) (paid from CPF Medisave) at the same
time. If it is possible, how will the claim process be like with 2 shield
plans?

REPLY

Dear

I am sorry to learn about your father's medical condition. Is your father covered under a dread disease policy? He can claim under this policy for a cash benefit.

For Incomeshield, we will be introduced a rider that can pay more, for major illness. The additional premium is 15% of the standard premium. It should cover all of the medical bill for your father's case, apart from the mandatory deductible and co-insurance. Under plan B, the premium will be about 30% lower than the expensive
plan that covers everthing "as charged".

The rider should be ready within two months.

Tan Kin Lian