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Myths and misconceptions are false information that often prevents us from doing the right thing. In this article, we will go over 4 myths on health insurance and unveil the truth for you, so that you can make an informed decision and get the coverage you need.
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4 Myths On Health Insurance You Need To Stop Believing Today!
Myths and misconceptions are false information that often prevents us from doing the right thing. In this article, we will go over 4 myths on health insurance and unveil the truth for you, so that you can make an informed decision and get the coverage you need.
Myth 1 – I will only need / use health insurance when I am much older • This is, perhaps, one of the biggest misconceptions that most people have about health insurance. We often feel that ill health affects us only in our senior years. However, life can be unpredictable and one never knows what the future holds. It is prudent to be prepared with adequate coverage always. • If you are a Singaporean citizen or PR, you might want to supplement MediShield Life with an Integrated Shield Plan. If you are a foreigner in the country, do also look into buying health insurance.
Myth 2 – There are no real benefits to buying private health insurance • MediShield Life covers you up to S$150,000 per year with coverage targeted at class B2/C wards in public hospitals. If you prefer a different ward or a private hospital, you will have to consider taking an Integrated Shield Plan. A good Integrated Shield Plan will cover you for an extensive period for pre- and post-hospitalisation expenses. You can expect an annual claim limit as high as S$1 million with coverage for overseas treatment too. • In addition to these benefits, some insurers go above and beyond to give you real value in their Integrated Shield Plans. You may receive benefits such as a complimentary hospital parking voucher or a taxi coupon when going for in-patient or day care procedures and appointment booking services at hospitals. These benefits can vary between insurers and your exact chosen plan so be sure to check what your provider offers.
Myth 3 – It doesn’t matter which plan I choose as all Integrated Shield Plans are similar • There are different types of Integrated Shield Plans designed to cater to the type of hospital or ward you prefer. You can choose a plan that covers ward A or one that covers private hospitals. You can also supplement your plan with a rider that will see your medical expenses covered up to 95%. Take a quick quiz here to find out which plan suits your needs best!
Myth 4 - Buying health insurance is a tiring process • Purchasing health insurance is really easy. You can either get help from a financial consultant or complete the entire process online. Leading insurance providers allow you to buy health insurance on their websites. You can even get an instant quote so that you can compare plans and consider. Buying coverage online is easy and convenient. You can read the product brochure, compare quotes, and even reach out to the insurer through their website to get In touch with a financial consultant should you need some help. • With these myths out of the way, we hope you get the coverage you need. Remember to keep your Integrated Shield Plan renewed so that you enjoy the benefit of constant protection. Take care!
