Insurance
Limit of $800 on Shield insurance
By Tan Kin Lian  •  April 4, 2011
Hi Mr Tan Recently my father (who is now 78 year old) received a letter from income to pay a sum of $400 plus in cash due to medisave can deduct up to maximum of $800 only. That meant the premium of this policy is $1200 plus per year for Medishield Plan B. Usually I will help to pay for my father, but from the past years only need to pay $200 plus but this time might be due to age group different need to pay higher( $400 plus ). Why does Medisave set a limit of $800, as senior citizens sure have problem paying in cash. How Do you think about this kind of policy? REPLY Your father can move to Medishield and pay a lower premium (compared to private Shield) up to age 80. Beyond age 80, there is no point in going for expensive health care, as ......
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By Tan Kin Lian
Mr Tan Kin Lian (fomer NTUC Income CEO) started his insurance career in 1966 in a local life insurance company. He has also worked in various positions as a computer programmer, organisation and methods officer and consulting actuary. Mr Tan writes daily in his blog. The information in his blog is transparent and has an open approach.
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