There are a number of options available online in insurance plans, but without a doubt an important one is an integrated shield plan. There are different components that are part of integrated shield plans, one is run by a Medishield Central Provident Board (CPF) and gives policy holders a comprehensive coverage.
The coverage obtained from Medishield will provide lifelong benefits, also for various pre-existing conditions. Even if there isn’t previous coverage under a private insurer, the integrated shield plan provides coverage and benefits under this.
There are also several eligibility criteria especially, if you are considering getting some subsidies for the Medishield Life Component. The Medishield integrated plan provides coverage for private hospitals and Class B1 or A class hospitalisation.
With an integrated shield plan, people are already covered for Medishield Life, without having to make double premium payment or any duplicate coverage. If you like to have the freedom to choose your own doctor or wish to consider an option wherein you can get hospitalization costs covered in superior wards, then an integrated plan is your best fit.
There are various coverage options one can choose from and higher premiums are also to be considered carefully when one is opting for such plans. Moreover, you must also bear in mind that subsidy apart, there are also increasing premiums when opting for such plans.
Make sure you consider the long term costs involved ensuring you can avail maximum benefits. In case you have a private insurer you may perhaps not be covered for the pre-existing conditions, this problem is solved when you opt for an integrated plan.
Be sure to discuss your options and consider carefully what will work for you in the most optimal way. Premiums that increases as you grow older are also a matter of concern and one you may want to consider carefully.