ok this is gonna benefit some if they are not aware what their hospitalization scheme is.
Being a bo chup fella for most of my life , i didnt care what plan i was on until just recently i signed up. Better late than never.
I was on some stupid basic income plan A which pays like 12400 for a surgery, i think thats hardly enough and sway sway touch wood kena cancer , ho seh liao .
I took on a plan for $446 per year , as charged . Private hospital and all bills paid for in the event i kena 'toto'
Take some time off pressing your meter , walkies and mdt and go check your plan. For this cb trade , its best to go as charged.
To me its farking costly paying $446 but i think this $ cannot save.
:D
Yes, as self employed, you should buy insurance to cover you and your family, if possible or that you got contribute more in medisave, use it to buy those shield, from medishield to advance medishield, ask your income agent about it. Why I said using medisave is because CPF medisave gives 2.5% interest rate, which can offset abit of your $446 and at the same time, a contribution to medisave as required
like tat...... i go take up insurance course.
Got free spoke man leh.
Insurance ?
The younger u do it , the cheaper it is .
For those who follow me , will know i encourage planning retirement funds from insurance companies .
Here , we also encourage Hospitalisation Plan .
But i do not know if BCL's plan is from CPF .
CPF do have Medishield .
If u have not sign up any , pls proceed to nearest CPF to sign up , no cash involve if u have sufficient funds in Medisave to sign up .
Very easy one , sign on the dotted line only .
They will tell you pay how much from your Medisave , u authorised only .
I already have a NTUC Income Retirement Saving plan , not much though , no coverage of hospitalisations , die take money pass to family .
I then took up Kow Boon Wan's proposed Medishield , after reading , good enough .
Cancer or major surgery also at least can help .
One more story .
Before my father dignosed with Cancer , Government got him to sign up Medishield .
Since Medisave so many money not utilised , just sign .
After a few months down the road , he was diagnosed with Intestine cancers .
Can imagine those cost of surgery to cut off some cancerous portion in the liver ( a bit affected ) .
We were worried .
If i can remember ...... the whole thing was amounted to somewhere $30 grand .
His Medishield and Medisave save our ass !!!!
I dun remember if i come out any money , not even any amount was deducted from my medisave at all .
About $700+ was deducted from my brother's medisave .
$0 cash involve .
A simple Medishield can actually save everyone's ass .
Imagine if he do not sign up Medishield , Medisave will be swept clean and we still need to pay up front cash involve .
Not everyone entitle to Medishield , only aged 40 and above can sign up .
But u can ask from CDP what scheme they have in plans for aged under 40 ?
sorry what is CDP?
Thanks for the info coz planning to get one also....i read khoon 42 pages and someone mentioned "safety net" so it came to my mind before going into this trade must plan properly for long term or even not this trade also have to.....sg can die cannot sick.....
Originally posted by quickpick:Hi BCL,good info here as i am also looking forward for a plan recently too.My type of lifestyle eat,drink & smoke.I think better buy a plan now before its too late.Which insurance company for you?I will call you if i need more info.Cheers!
They go by age band , the older the more ex/
i am 42 the premium is quite high. i got mine from Aviva. still awaiting confirmation.
Originally posted by Poolman:For those who follow me , will know i encourage planning retirement funds from insurance companies .
Here , we also encourage Hospitalisation Plan .
But i do not know if BCL's plan is from CPF .
CPF do have Medishield .
If u have not sign up any , pls proceed to nearest CPF to sign up , no cash involve if u have sufficient funds in Medisave to sign up .
Very easy one , sign on the dotted line only .
They will tell you pay how much from your Medisave , u authorised only .
the default plan cannot make it. plan A only cover 12400 surgery costs. not enough.
BCL is correct, basic plan is wasting mony only, need to upgrade to a better plan to make sure you don't have to fork out a huge sum of medical fees,
for newbie, my advise is if you have not upgrade your plan and yet to start driving( current unemployed or still working now ) better get a plan soon
Cos premium are higher when you declare your job as taxi drvier. so act fast to save a little
Folks, besides hospitalization plan, you might want to get a critical illness one to complement also.
Originally posted by Angwk7118:BCL is correct, basic plan is wasting mony only, need to upgrade to a better plan to make sure you don't have to fork out a huge sum of medical fees,
for newbie, my advise is if you have not upgrade your plan and yet to start driving( current unemployed or still working now ) better get a plan soon
Cos premium are higher when you declare your job as taxi drvier. so act fast to save a little
yes sir thank u sir !
Originally posted by Poolman:Not everyone entitle to Medishield , only aged 40 and above can sign up .
But u can ask from CDP what scheme they have in plans for aged under 40 ?
Originally posted by JLKL:
every cpf member can have medishield lah.. 40 and above is eldershield..
Ya , think i have both now .
Anyway little or alot converage dun matter alot to me , cos it only take me one time to sent me into the box .
Nowadays like once u go into the knife room , u dun looked likely to come out alive , yes u may come out alive , but half dead at home .
thanks for the info bros........ now need to buy for OC then next time
by for children...... tao tia liao.........
I agree lor, the basic income plan cannot make it..12,400 for surgery?? Please la, where got hospital in sillypore charge so little for operation one lor? Then they pay their doctor what? Air arh..I think hor besides buying a good insurance plan, must also start thinking about retirement planning. My kopi kaki was telling me that he put his money in a POSB retirement scheme, i think i must go check it out..must think of future
You might want to consider topping up medisave for a start and buy the medishield plans.
Medishield plans applies to all ages.
Originally posted by Poolman:Not everyone entitle to Medishield , only aged 40 and above can sign up .
But u can ask from CDP what scheme they have in plans for aged under 40 ?
Medishield is our national healthcare plan for all singaporeans up to age 82. the one that you are talking abt age 40 and above is eldershield.
i know, i have been in and out and hospital for my parents for the last ten years. what can be claim wat cannot. wat is the claims limit for medishield and medisave for certain illnesses all i know inside out.
One more issue dont ever ever stick to our basic CPF medishield. Upgrade your medishield to a private insurer of your choice(aia,ge or prudential) and yes medishield has already been outsource to private insurer. And why upgrade to private insurer if u ask me. Cos most private insurer now provides a lifetime coverage of up to 500k and more and i heard some got no limits also. Just ask and enquire with your insurance frens
Dont just look at how much you are being covered in event that you are ill. MOST IMPORTANT QUESTION> Ask your insurer about your LIFETIME COVERAGE.
Basic Medishield only have a lifetime coverage of 200k used to be only 100k years back.( Just an example of my mum: diagnosed with cancer,stroke and kidney failure, 3rd year of treatment 200k all paid up and insurer wash hand and leave it to you, my mum live til the 8th year after diagnosed before she passed away, so just make a guess the amount that i have spend after the insurer stops paying.)
Originally posted by Poolman:For those who follow me , will know i encourage planning retirement funds from insurance companies .
Here , we also encourage Hospitalisation Plan .
But i do not know if BCL's plan is from CPF .
CPF do have Medishield .
If u have not sign up any , pls proceed to nearest CPF to sign up , no cash involve if u have sufficient funds in Medisave to sign up .
Very easy one , sign on the dotted line only .
They will tell you pay how much from your Medisave , u authorised only .
I have never ever look into insurance as a form of saving or retirement> i think the word of the company says it all "INSURANCE".
Insurance to me is a form of protection and that alls no more no less. And if im well insured its on a no returns and max coverage basis.