Why should you consider getting a private integrated shield plan?

An encouragement by company to us to help more people :) What is private integrated shield plan? A Shield plan is designed to cover major/catastrophic events related to Hospitalisation & Surgery (H&S). It is not meant to cover minor ailments and visits to General Practitioners. CPF Board operates the CPF Medishield, which covers up to 80% of your H&S bills at subsidised wards in restructured hospitals. The private Integrated Shield Plans run by private insurers are designed for coverage for hospitalisation in A & B1 wards in Restructured Hospitals and private hospitals. You may  still choose to stay in a subsidised ward if you have a private Shield plan. Figure 1: Compares some key details between Medishield and private Shield plans. Intended Coverage Features Payment Mode Co - Payment  Riders/ Add Ons  CPF Medishield Restructured hospital B2 ward & below Has a Sub Limit CPF Co- Insurance Deductible  No Private Shield Plan (Also known as Integrated Shield Plan) Up to private hospital (depending on choice of plan) As Charged CPF + cash Co-Insurance Deductible  Yes Below are some of the Q&As related to shield plan and integrated shield plan. I have basic Medishield from the CPF Board. Do I need an integrated Shield plan ? Yes. I strongly believe that everyone living in Singapore should purchase an integrated  Shield plan (if you can afford the premiums). CPF Board administers Medishield, which  is only basic medical insurance. An integrated shield plan is designed to complement it  and works to cover major hospitalisation events as our government recognizes that the  basic Medishield may not be sufficient to meet a person’s medical needs. Both private Shield plans and CPF Medishield plans impose a deductible and  co-insurance. The newer private Shield plans work on an “As Charged” basis when  compared to CPF Medishield, which has sub-limits. Also, the integrated Shield plans cover the insured's entire lifetime while CPF Medishield  only provides coverage until the age of 90. How does the private shield plan work ? When you purchase a private Shield plan, it actually sits on top of your basic Medishield. That simply means that you are extending the hospitalisation coverage. Think of  Medishield as an umbrella. Now when you buy a private Shield plan, you are upgrading  to a bigger umbrella. When riders are added on, it gets even bigger. What is the difference between an integrated Shield plan and other H&S plans? Other H&S plans in the market are payable by cash only. These include your employer's Group H&S plans and comprehensive health plans. Typically, outpatient treatment, eg,  a visit to your general practitioner, is covered as well. In terms of premium, the integrated Shield plans are very competitive due to the large  pool of insured (as compared to cash H&S plans).  Please refer to the following link for  more information:http://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=342 What is a Letter of Guarantee and how does it work? When you are hospitalised, you need to place a deposit with the medical institution  before treatment even begins. This usually comes from your Medisave account or cash. However, major private insurers offer a Letter of Guarantee (LOG), which obtain a  waiver of the upfront cash deposit required by the hospital. I am already covered with an earlier integrated Shield plan. Should I upgrade the plan to the newer enhanced plans with “As Charged” features? Yes. Medical cost is rising. The older plans have sub-limits. And in general, there are limitations like a lower annual limit and lower lifetime limit. With the new enhanced plans  in place, you have peace of mind that the bulk of your medical bills will be covered. Original Article from HealthXchange SG

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Integrated Health Solutions (IHS) with Free Essential Health Screeningis back by popular demand!

Dear Employer/ HR/ Person in charge of employee benefits:

Back by popular demand, from now till end 30 November 2013, for every new IHS benefit packaged with Group Term Life or Group Hospital & Surgical Plan, we will offer Essential Health Screening Package worth $68 for free!

Terms and Conditions *
1)  IHS program is a rider to Group Hospital and Surgical or Group Term Life with a minimum group size of 11 employees. 2)  All group business must be new, paid and submitted within promotion period. The group policy effective date must be during the promotion period and premium must be received by AIA on latest 15 December 2013. 3)  All complimentary health screening is non-refundable and not exchangeable for cash. 
4)  Corporate Solutions reserves the right to replace the package with items of similar value. 
5)  Fullerton Essential Health Screening Package will only be honored at 7 Fullerton fully owned clinics throughout Singapore. This will not be available at the Fullerton panel clinics. 
6)  Members who want to utilize the Essential Health Screening Package must present their recognized mode of identification at the Fullerton Clinics. They should come fasted for the blood tests. 
7)  Fullerton reserves the right to allocate an optimal number of health screening slots per day at each clinic on a first-come-first-serve basis. This is to ensure consistent quality and a pleasant customer experience for the member. 
8)  Fullerton reserves the right to amend the terms, conditions and benefits of the health screening package, at any time. 
9)  These will be honored at Fullerton fully-owned clinics throughout Singapore. This will not be available at the Fullerton-Panel Clinics. 
10)  Members who want to utilize these benefits must present their recognized mode of identification at the Fullerton Clinics. 
11)  Members who wish to purchase prescription medication for themselves of their relatives must bring their relatives for a consultation with our doctors. This is in line with Ministry of Health regulations. If the relative is absent, then a prescription chit from the doctor must be presented in order for the purchase to be processed. 
12)  Fullerton reserves to amend the terms, conditions and benefits, at any time. 

Kindly contact us for more details!

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AIA Vitality Program

You may seen below advertisement is widely advertised by AIA some times ago. There are on public vehicle, bustop ad board, radio, and newspapers, and direct mailer that send to your home if you are AIA existing policy owner. But what does it really about?

"Here’s something everyone should ponder: Is your body older than you really are?

A recent survey conducted by life insurance giant AIA found that the average Singaporean’s body age is four years older than their chronological age, due to unhealthy lifestyle choices.

The survey, held from last December to this January, involved 1,000 participants through an online panel provider..." 

Source from The Straits Time

AIA Vitality is a science-backed wellness programme that rewards you for getting healthier. AIA Vitality's proven approach takes you on a personal pathway to better health: you get to know your health, learn how to improve your health and enjoy the rewards for doing so!

How it works

Know your health

Understanding your health is the first step to improving it. And it all begins online at AIAVitality.com.sg, where you can access a wealth of information that provides you with the knowledge to do so. What’s more, AIA Vitality also offers you a range of complementary health, nutrition and fitness assessments to help get you on the path to better health.

Improve your health

As you embark on your journey to get and stay healthy, we make it easier and cost effective with discounts from our wellness partners. You’ll enjoy special rates on advanced health screenings, smoking cessation courses, gym memberships, workout gear and cashback on healthy food. 

Enjoy the rewards

As you improve your health, you will be rewarded with Vitality Points and a Vitality Status. The more Vitality Points you earn, the higher your Vitality Status and the bigger your rewards!

You can enjoy discounts on movie tickets, international cruises, international flights and insurance premiums for selected new AIA insurance plans.

Your added bonus – savings on your AIA insurance premiums

As the wellness programme that rewards you for getting healthier, AIA Vitality is already stacked in your favour. Sign up for any of the following AIA insurance plans, together with AIA Vitality, and enjoy an upfront discount on your first year premium and up to 15% discount

on your future years insurance premium when you improve your Vitality Status.

The programme, part of AIA’s commitment to champion healthy living and preventive care for families in Singapore, is a joint venture between AIA and Discovery, a specialist insurer headquartered in South Africa. It is aligned with the Singapore government’s Healthy Living Master Plan, which aims to develop initiatives that ensure all Singaporeans have access to an affordable healthy lifestyle. 

Find out more through AIA Vitality website

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Grow your savings with a fixed return of 6.9% in 4 years

AIA has launched AIA Wealth Accumulator 2, a non-participating single premium endowment plan that offers guaranteed effective yield at 1.68% per annum for 4 years. Whether you are looking to grow your savings for a holiday, for a short time period, or used to keep in bank fixed deposit account. This plan can help you to achieve your goal hence provides financial protection against death and guaranteed returns on capital at maturity.

All you need is a single premium starting from S$20,000(cash only) to enjoy these benefits:

Guaranteed Capital

Upon policy maturity in 4 years, you will receive the maturity benefit which includes 100% of your capital.

Guaranteed Returns

A fixed total return of 6.9% based on 1.68% p.a. compounded over 4 years upon maturity.

Guaranteed Financial Protection

Your loved ones will be protected by the Accidental Death Benefit during the first policy year and the Death Benefit, should the unfortunate occur.

Guaranteed Acceptance
The application is hassle-free with no medical underwriting required!

This plan is available on a limited tranche basis. The offer period will be closed when tranche size is met.

Take advantage of this limited time offer. For more information, contact us now!

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