Most comprehensive Enhanced Eldershield

this is a forum set up to discuss everything about Medical Insurance in Singapore

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nicole.yu.sp
Posts: 4
Joined: Tue Apr 24, 2012 10:54 am

Most comprehensive Enhanced Eldershield

Post by nicole.yu.sp »

Hi,

I am planning to upgrade my Eldershield. May i know:
a. Where can I obtain and compare the different Enhanced ElderShield provided by different insurance companies?
b.Is AVIVA MyCare/ AVIVA My Care Plus the most comprehensive plan in the market now?


With the best regards,
candy_chia
Investing Mentor
Posts: 1731
Joined: Sun Jul 17, 2011 11:36 am

Re: Most comprehensive Enhanced Eldershield

Post by candy_chia »

You can contact bemoneysavvy, recommended by Dennis, (my financial advisor is one of his team member) who leads a group of independent financial advisors who are qualified to conduct comparison of different enhanced Eldershield offered in the market.

Save you the hassle of checking with different insurers.
Dennis Ng wrote: By the way, bemoneysavvy is Brendan Yong, I know he is a very giving person and has been giving a lot, becos I know him since year 2007 as we were the Core Group that started BNI Renaissance, which subsequently won Best Chapter of the Year and he volunteered as President of our chapter for 2 terms, or 1 year period. He is also active in other charitable activities as well. He is a very experienced Certified Financial Planner and currently leads a team in a Financial Planning firm.
http://www.masteryourfinance.com/forum/ ... ong#p23480
learner
Wealth Directions Guest Speaker
Posts: 57
Joined: Tue Oct 06, 2009 11:22 pm

Re: Most comprehensive Enhanced Eldershield

Post by learner »

nicole.yu.sp wrote: I am planning to upgrade my Eldershield. May i know:
a. Where can I obtain and compare the different Enhanced ElderShield provided by different insurance companies?
b.Is AVIVA MyCare/ AVIVA My Care Plus the most comprehensive plan in the market now?
Here is a table of comparison provided by Ministry of Health (note the date):

http://www.moh.gov.sg/content/moh_web/h ... Plans.html



Regards,

learner
learner
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Posts: 57
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Re: Most comprehensive Enhanced Eldershield

Post by learner »

Note: the table of comparison in the above post is for Edlershield SUPPLEMENT Plans

learner wrote:
nicole.yu.sp wrote: I am planning to upgrade my Eldershield. May i know:
a. Where can I obtain and compare the different Enhanced ElderShield provided by different insurance companies?
b.Is AVIVA MyCare/ AVIVA My Care Plus the most comprehensive plan in the market now?
Here is a table of comparison provided by Ministry of Health (note the date):

http://www.moh.gov.sg/content/moh_web/h ... Plans.html



Regards,

learner
nicole.yu.sp
Posts: 4
Joined: Tue Apr 24, 2012 10:54 am

Re: Most comprehensive Enhanced Eldershield

Post by nicole.yu.sp »

Great. Thank you Candy and Learner.
candy_chia
Investing Mentor
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Joined: Sun Jul 17, 2011 11:36 am

Re: Most comprehensive Enhanced Eldershield

Post by candy_chia »

Analysis of the table of comparison, seems like Aviva MyCare Plus and GE Eldershield Comprehensive are easier to claim as only needs to fulfill 2 ADLs [/size]instead of 3 ADL NTUC plans.

Aviva plan provides substantial saving in total premium (based on entry age of 40), for male is $10,727 and $13,938.46 for female for below plans.

Below are comparison of
1) Aviva MyCare Plus (Annual Premium for $600 monthly benefit for Eldershield400)

2) GE Eldershield Comprehensive (Annual Premium for $100 monthly benefit)

Aviva MyCare Plus .......... GE Eldershield Comprehensive
Entry.... Male ..... (Female) ..... Male ..... (Female)
Age
40... 235.83..... (295.16) ..... 69.90......(91.40)
41... 243.10..... (305.06) ..... 72.70...... (95.00)
42... 250.75..... (315.33) ......75.60 ......(98.80)
43... 258.78..... (326.30) ......78.70 ......(102.90)
44... 267.34..... (337.80) ......82.00 ......(107.20)
45... 276.33..... (350.00) ......85.50 .......(111.70)
46... 285.90..... (362.89) ......89.30 .......(116.70)
47... 296.12..... (376.64) ......93.40 .......(121.90)
48... 306.93..... (391.09) ......97.70 .......(127.50)
49... 318.43..... (406.49) ......102.50 .......(133.60)
50... 330.52..... (422.81) ......107.50 .......(140.10)
51... 343.42..... (440.04) ......113.00 .......(147.10)
52... 357.11..... (458.39) ......119.00 .......(154.70)
53... 371.77..... (477.86) ......125.50 .......(163.00)
54... 387.34..... (498.57) ......132.50 .......(172.00)
55... 404.03..... (520.72) ......140.30 .......(181.80)
56... 421.95..... (544.26) ......148.80 .......(192.60)
57... 441.00..... (569.40) ......158.20 .......(204.40)
58... 461.44..... (596.26) ......168.70 .......(217.60)
59... 483.37..... (625.31) ......180.40 .......(232.20)
60... 506.86..... (656.66) ......193.40 .......(248.50)
61... 532.06..... (690.63) ......208.20 .......(266.90)
62... 559.18..... (727.60) ......225.00 .......(288.10)
63... 588.23..... (768.10) ......244.40 .......(312.50)
64... 619.80..... (812.77) ......266.90 .......(340.90)
Total Premium ...$9,547.59 ...... ($12,276.14) ...... $20,274.60 ....... ($26,214.60)


Note:

(i) Total premium of GE is multiplied by 6 so the monthly benefit will be $600 for ease of comparison.

(ii) ADL (Activities of Daily Living) - Dressing, Feeding, Mobility, Toileting, Transferring & Washing

http://www.aviva.com.sg/pdf/MyCarePlus_ ... ooklet.pdf

http://www.eldershield.com/eshield/jsp/ ... ensive.jsp
nicole.yu.sp
Posts: 4
Joined: Tue Apr 24, 2012 10:54 am

Re: Most comprehensive Enhanced Eldershield

Post by nicole.yu.sp »

Cool! Thank you Candy for such a comprehensive study of the Eldershield supplement plans. It makes it so easy for me to decide now.

Regards
candy_chia
Investing Mentor
Posts: 1731
Joined: Sun Jul 17, 2011 11:36 am

Re: Most comprehensive Enhanced Eldershield

Post by candy_chia »

Hi Nicole,

Thank you for posing this query, I was also shopping for one recently, the picture is clearer for me to decide, when I meet up with my financial planner end Aug (when my hubby returned from his US trip).
spezlezz
Silver Forum Contributor
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Joined: Tue Oct 06, 2009 11:59 am

Re: Most comprehensive Enhanced Eldershield

Post by spezlezz »

If I'm not wrong, Aviva MyCare plus premium is based on entry age i.e. premium will be consistent the earlier age you sign up.
lootster
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Re: Most comprehensive Enhanced Eldershield

Post by lootster »

Premium should not only be the deciding factor in choosing a shield plan.

Ask around and get feedback regarding claims experience, ease of claims, turnaround time for claims......
What's the point of choosing the cheapest plan but yet when it comes to claim, you face lots of problems and difficulties?
This should be some of the points to take note of :wink:
lootster
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Posts: 354
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Re: Most comprehensive Enhanced Eldershield

Post by lootster »

lootster wrote:Premium should not only be the deciding factor in choosing a shield plan.

Ask around and get feedback regarding claims experience, ease of claims, turnaround time for claims......
What's the point of choosing the cheapest plan but yet when it comes to claim, you face lots of problems and difficulties?
This should be some of the points to take note of :wink:
To add on, please get yourself and your love ones a proper shield plan which allows you to stay in private hospital should the need arises...... Speaking from personal experience, I don't think I would like to stay in government hospital if given a choice. Nothing wrong with the government hospital, just that private is way much better.
Darren Lee
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Re: Most comprehensive Enhanced Eldershield

Post by Darren Lee »

Hi Looster,

For the benefit of newer members. Just to provide some clarity, "please get yourself and your love ones a proper shield plan which allows you to stay in private hospital should the need arises" <-- This is talking about Hospital & Medical insurance. NOT Long-Term Care insurance supplement that is Eldershield.

From my experience as a planner, 9/10 people cannot differentiate between ElderShield & Medishield.

lootster wrote:
lootster wrote:Premium should not only be the deciding factor in choosing a shield plan.

Ask around and get feedback regarding claims experience, ease of claims, turnaround time for claims......
What's the point of choosing the cheapest plan but yet when it comes to claim, you face lots of problems and difficulties?
This should be some of the points to take note of :wink:
To add on, please get yourself and your love ones a proper shield plan which allows you to stay in private hospital should the need arises...... Speaking from personal experience, I don't think I would like to stay in government hospital if given a choice. Nothing wrong with the government hospital, just that private is way much better.
Cheers,
Darren Lee
lootster
Platinum Forum Contributor
Posts: 354
Joined: Tue Dec 08, 2009 2:50 am

Re: Most comprehensive Enhanced Eldershield

Post by lootster »

Hi,

Thanks for highlighting.......

Yup you are right it's two different plan altogether, however just wish to emphasize the importance of Medical shield plan. Also, one should not forget the importance of eldershield as my dad has benefit from the payout too.

I was a financial planner as well so understand the importance of both. Feel sad that I have personally witness people who only regret when things happened, few will take action when they are well and healthy.
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