Category: medBx

Singlife SSP #tips

Posted on by tiger40490

Every insurer/bank’s system has its idiosyncrasies, and can present a burdensom/recreational complexity. I find myself relying on the Singlife self-service portal more and more.

— FLI250 policy is owned by CIMB. Due to privacy, Singlife (hotline or SSP) will NOT disclose any details to non-owners like me.

— log in to MySinglife, not CustomerPortal

— Somehow, when I receive the sms instruction to check mydoc on SSP, I sometimes don’t see the doc

to see your police full listing, go to Insurance -> Policies.

The Insurance -> coverage (the default page) is less useful 🙁

— payment due dates .. each policy shows NextDueDate, but not the Giro date.

Giro date is in SMS (no log-in required) but you will need to save it somewhere.

##typical household wealth figures

Posted on by tiger40490

Warning: Obviousl, median is far more meaningful than average, as average is affected by Musk’s wealth fluctuation

Warning: Data quality on wealth is lower than on income

household wealth: Black^White shows … In 2019 the median white household held $188,200 in wealth — 7.8 times that of the typical Black household ($24,100)

https://tanbinvest.dreamhosters.com/20280/realistic-financial-status-malaysian-40-something/ gave MYR 1216k household wealth for a typical Malaysia CMC [ChMidClass]

2023 UBS wealth report .. median wealth per Singapore adult (not per household) estimated at USD 100k

 

##death benefits #接触过的Sgp insurers

Posted on by tiger40490

See also ## tanbin’s secret bank accounts 

This list can help me keep track of my past and present policies. Let’s not spend too much time.

  1. FWD .. home insurance. Renewed in 2023?
  2. AIA .. for wife
  3. Aviva .. MyShield
  4. Aviva .. ADL/MyCarePlus
    • Singlife FLI2 .. more investment than protection. Bought in 2023.
  5. NTUC  .. shield for dabao
  6. NUTC-GIFT.. union membership fee includes a $20k plan for me and wife
  7. Prudential .. $380/27k prudential Early CI till 65
  8. AXA PrimeCare #surgery+ward
  9. GEL CareShieldSupplement
  10. — currently no protection
  11. Manulife .. studied Universal life and ReadyIncomeLife
  12. MSIG .. PA plan paying out cash, not reimbursement-based
  13. Sompo .. PA plan paying out cash, not reimbursement-based
  14. TokyoMarine .. only the mosquito insurance

— my “death benefits” that should pay out to dependents. Ranked by “forgetability”

  1. (Assuming policy is in force) NTUC Income GIFT (see above) has a SGD 20k death benefit. There’s no policy number. Claim procedure — family members send death certificate to NtucUnion.
  2. (Assuming policy is in force) AXA PrimeCare [# 102-3331489] has a tiny SGD 1000 death benefit.
  3. (Assuming policy is in force) GEL GreatEasternLife [# 6004647642] CareShield  has no death benefit as far as I know, but better check with agent
  4. (Assuming policy is in force) Singlife MyShield [# 27055265] has no death benefit
  5. (Assuming policy is in force) Singlife ElderSheldPlus [# E8566804] ADL insurance has a small death benefit, presumably SGD 15k
  6. (Assuming policy is in force) Prudential EarlyCriticalIllness [# 60763874] has a SGD 3k death benefit, until age 65
  7. Singlife FLI2 [# 82769230] has a death benefit. Hopefully hard to miss due to annual payout
  8. CPF DPS [dependent protection scheme #0228382569] could pay out SGD 70k
  9. my employer’s group-critical-illness is late-stage-37CI, covers 37 critical illnesses
  10. my employer’s group life policy has a large death benefit — 2x annual salary, confirmed 26/12/2023. This item is hard to miss because my employer would surely know about an employee’s departure. Payout amount follows the same formula across all employeess.

— insurance bought for ZLH

  1. AIA plans .. you should review those periodic letters AIA send to you
  2. NTUC-GIFT .. covers you and me. This is part of my NTUC membership.
  3. Aviva MyCarePlus .. you are paying mostly from CPF. This is an upgrade from ElderShield
  4. Aviva MyShield ..  is an upgrade from MediShield

[24] Aviva bad claim #TYX

Posted on by tiger40490

— based on an email I wrote to Lee Sok Ling

I recall a bitter and regrettable claim experience about 10 years ago. (I describe it here partly to remind myself.)

  • my son had somd Aviva medical insurance. Annual deductible is a standard feature so I didn’t pay attention. Actually it was a killer feature.
  • my son had some testicle pain and was admitted to KKH for one day (or half a day). As a local citizen, government hospital bill was below $1k
  • I sent the bill to Aviva only to find out the bill amount is much lower than the annual deductible.
  • worst thing –> Aviva recorded my son’s condition and refused to underwrite any medical insurance on him from then on. I went back to KKH about 2 or 3 times to get clarification, even paying for medical reports. KKH said “quickly discharged and no follow-up required.” but Aviva refused to accept. It became a life-long stigma, even though my son made a full recovery soon.

Lesson 1 — insurance companies are faceless organizations. Underwriters are risk averse and will not underwrite any questionable applicant. “If in any doubt, reject”. I think this is similar to the hiring process in my and other companies.

Lesson 2 — Once a person has some questionable scan recorded in “the national system”, it can be hard for a subsequent doctor in Singapore to examine a new scan and declare “100% fully recovered.. absolutely no risk”. Therefore, if a questionable scan doesn’t HaveTo be recorded in the national system, then it’s wise to avoid it, provided it’s not illegal/immoral

HsbcLife PrimeCare #Apr Giro

Posted on by tiger40490

Polocy: 102-3331489, as seen in emails. Sok Ling 9388 4443

No paper document for my insurance plan.

So far, this plan is not a big, permanent part of “core coverage” in my healthcare.

— main benefits to remember (all Non-Reimbursement-Based)

  • surgery .. cash payout, even for minor surgeries. Insurer needs the hospitalization bill to assess major or minor surgery.
  • hospitalization daily cash .. $80/D only if > 24H

Much needed when MyShield covers 95% only, and when employer insurance doesn’t help.

additional Death benefit SGD 1000.

Expires till age 85

— Residency in SG required… when I live in the U.S., the policy won’t apply. I would need to terminate
— GIRO: #108 April every year
— No surrender value .. can terminate any time without loss, and reapply.
no commitment like the ECI insurance she told me about.

— Premium will rise with age and possibly with inflation. Therefore, I set DBS giro limit to $200. Perhaps 500 is better.

(med++)disaster wip’out all subsequent income..really@@

Posted on by tiger40490

See also earliest show-stopper

  • Out of 100 CI insured healthy adults, how many would make a claim? In the TPD case, the percentage is much lower.
  • Out of 100 CI claims, I guess a small number (10?) would become permanently unable to work. In the TPD case, the percentage is probably higher.
  • Since my #1 concern is loss of income, CI insurance doesn’t meet my needs. Perhaps ElderShield and TPD offer partial protections. No effective insurance exists for job loss.

Looking at the PR chart, the biggest risk is (partial) loss of income, to the tune of $120k x 25Y = 3million. But what insurable events could cause such a loss? Not many:

  • a horrific accident? low Probability(hit)
  • disability and death? I did hear of middle-aged professionals getting hit with such things, but in my opinion low Probability(hit)
  • major_illness leading to 1 ADL and full-time nursing care? Fairly low Probability(hit) but higher than TPD
  • major_illness leading to occupational disability.. higher probability(hit) than ADL
  • major_illness forcing us to take a more relaxed job at age 48, 53 or 59… Well, like many hardworking people, I already feel the strain of aging, parenting, competition from younger peers, lack of exercise etc. So far I didn’t like a lower-gear job, but a major illness could be the last straw to convince me? Plausible theory, but completely imaginary. I don’t know anyone having this experience.
  • Without major_illness, growing too old to work 8 hours a day (like grandpa)? Not insurable!
  • supply/demand … loss of competitiveness — is arguably the most likely cause but Not insurable

Just kidding — we wish there’s some “rate lock” product to “lock in” our current level of income! But no insurer would offer such a guarantee, because the insured guy can easily fake and exercise the option.

medishield details #D+C

Posted on by tiger40490

Medishield is becoming a pillar of my barebones/minimalist ffree so these details are becoming increasingly important.

  • day surgery with zero hour hospital stay? Medishield also covers.
  • max coinsurance payable by each patient is 3k/Y, with many fine prints
  • Singlife has a panel (of doctors)

— claim from shield first, not company insurance
In 2022, Colin Lim told me the best practice across the industry. Given that shield plans have non-zero D+C [deductible + coinsurance], we often need to cover D+C with company insurance. The procedure is

  1. send full bill to shield insurer
  2. insurer will coordinate with hospital and issue reimbursement
  3. for the remaining amount [D+C etc], insurer can liase with company insurance, if you inform them upfront.

In my 6 Feb 2022 email to Colin, the illustration has $550 D+C amount. Colin said $550 can be covered by company insurance.

Hospital is in the picture always. If you start with company insurance but it can’t cover 100%, then you need to engage shield plan to cover the remainder. This would be very messy and can result in extra cost to the patient.

FWD heart attack insurance #1Y

Posted on by tiger40490

I like this dedicated insurance that addresses my concern, similar to PA. I might consider a tailor-made combo of heart + cancer.

$193/Y for (min) 50k payout.

Q: is this a term insurance?
%%A: I think I can terminate any time, but when I rejoin, the premium would be higher.

Q: Pr(payout)?

— grandma said
Her side has family history, but Grandpa has no heart condition.

Stroke? no known family history whatsoever. She had no real stroke.

Better find out what she had, so I can tell my doctors.

— contact
6820 8888 Monday to Friday: 9am to 10pm, Saturday: 9am to 1pm