Why You Must Get Your Hospitalisation Insurance Plan COMPLETE With The Rider….

Sat, Oct 10, 2009

I am sure all of you reading this blog has a hospitalisation insurance plan.

….Which means if touch wood,you get hospitalised, your medical expenses will be covered.

Now….I will like you to ponder for a while…..I will like you to ask yourself this question? Is your medical coverage enough? Are you adequately covered?

You see…..I asked this question because, one of my clients get a hospitalisation plan from me, just 3 months ago, and last week, he was warded in the hospital for 3 days.

Yet, he cant claim a single cent from his hospitalisation plan. WHY? Because he never adds a rider.

Majority of my clients have a rider attached to their plan,but this client is very insistent on not adding rider because he do not want to fork out cash.

I feel sorry for him. He can only claim from his hospitalisation insurance policy if his medical bill is above $1500 (Deductible).

For those of you reading this blog, please….please…..ensure that you add in the rider to cover deductible and co-insurance for your hospitalisation plan.

In my 2 years in business, I have not done any death claim, but hospitalisation claims, a dozen….I believe, it is almost GUARANTEE for one to be hospitalised. It is a matter of time.

Dont save that few bucks and regret later!

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This post was written by:

Helmi Hakim - who has written 294 posts on The Official Helmi Hakim Website.

A certified financial associate, Helmi Hakim has won praise for his patience, perseverance and practicality when solving his clients' financial concerns. For more information on how you can manage your finances better, contact Helmi Hakim at 96520134.

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3 Responses to “Why You Must Get Your Hospitalisation Insurance Plan COMPLETE With The Rider….”

Peter Says:
8. November 2009 at 10:49 pm

totally agreed on what you wrote. However currently if i am not wrong, there is still no 100% coverage even when you pay rider right?

So you should at least ask them to purchase from other insurance company to have 100% coverage.

In my case, i always ask my client who has existing condition to apply either from NTUC or Aviva because they are more likely to ‘take’ in due to the first 5 year clause thingy.

Helmi Hakim Says:
9. November 2009 at 1:50 pm

Hi Peter,

You are right that with addition of NTUC Enhanced Incomeshield Assist Rider,client still has to pay for co-insurance subject to a caps limit of $3000.

Which means, if the bill is $100,000, or even $500,000 for the preferred plan, client at most just need to pay only $3,000 out of the huge bills.

The point of contention, I will like to bring about here, is regardless any hospitalisation plan, you choose to take, it is very important to get a rider to cover the deductible and co-insurance. Thanks.

Jac Says:
17. May 2010 at 4:51 pm

Hi,
If base on above bill $970.87, even we add a rider, we still need to pay at least for deductible or co-insurance right?
And I have a medishield and they exclude a current condition which did not re-lapse for past 4 years…thought of finding another insurer to get it included, do you think possible?

Peter Says:
8. November 2009 at 10:49 pm
Hi

totally agreed on what you wrote. However currently if i am not wrong, there is still no 100% coverage even when you pay rider right?

So you should at least ask them to purchase from other insurance company to have 100% coverage.

In my case, i always ask my client who has existing condition to apply either from NTUC or Aviva because they are more likely to ‘take’ in due to the first 5 year clause thingy.
Helmi Hakim Says:
9. November 2009 at 1:50 pm
Hi Peter,

You are right that with addition of NTUC Enhanced Incomeshield Assist Rider,client still has to pay for co-insurance subject to a caps limit of $3000.

Which means, if the bill is $100,000, or even $500,000 for the preferred plan, client at most just need to pay only $3,000 out of the huge bills.

The point of contention, I will like to bring about here, is regardless any hospitalisation plan, you choose to take, it is very important to get a rider to cover the deductible and co-insurance. Thanks.
Jac Says:
17. May 2010 at 4:51 pm
Hi,
If base on above bill $970.87, even we add a rider, we still need to pay at least for deductible or co-insurance right?
And I have a medishield and they exclude a current condition which did not re-lapse for past 4 years…thought of finding another insurer to get it included, do you think possible?