I had an enjoyable gathering with my ex-classmates last night. It has been eight years since we last met and we had a lot to talk about.
We were talking about the major incidents that happened during the past eight years and that’s when the topic shifted to our health. While our physical appearance has not changed much, our body has. One of my classmates shared with us on his experience during a routine tonsil and sinus surgery. The surgery was a success but after a few days, he developed an infection and was literally coughing out blood. Fortunately after another op, he recovered. The total cost of the operation is about 20k. The cost is on the high side and we were wondering why he chose a private hospital over a government one. That’s when he shared his many bad experiences dealing with doctors in government hospitals. He asked us “When you fall ill, do you want the doctor to choose you or do you want to choose the doctor?”
He goes on to share about his mother’s health - she woke up one day and can only walk with a near ninety degree bend. He has no hesitation in sending her to the hospital immediately. He got me thinking further by asking “Do you want to have to have an additional worry on the cost of the hospital bills?” In case you are wondering, the cost eventually add up to $100K due to other surgical procedures.
My friend is no agent but his experience would have been an ideal example for insurance companies. I do already have a private shield plan but after my friend’s experience, I begin to ponder if it’s enough.
It is a balance between wanting the best against affordability. I’m calculating if I can afford to upgrade my AIA and partner’s Aviva plan, and also include riders to cover the deductible and co-insurance. As for my parents, I will like to upgrade their AIA shield plans but leave out the riders as it would be too expensive.
In addition to cost, my other concern is underwriting. All of us are currently covered without any exclusion and although we have no major illness, I’m still worried that the upgraded plan may exclude certain conditions - especially since I was warded due to an accident and my mom went for a womb test. A few years ago, I planned to upgrade my parents AIA shield plan to NUTC but gave up due to NTUC 's extremely strict underwriting. If I remember, they wanted my parents to go for a checkup and an interview.
My AIA agent assured me that if there are any exclusions, that condition(s) will still be covered under the old plan. Is this true and is this applicable to all Shield Plans or only if you are upgrading within the same insurer? I cannot see how I can be covered by both NTUC and AIA shield plan at the same time.
I would also like to hear from those who have upgraded their Shield Plans.
Hello Derek,
Do your parents go for annual medical checkups?
I am assuming that you and your missus will have regular checkups under company benefits.
All the money and insurance coverage in the world will be for naught if detection is late…
Early detection may be less costly too.
First things first.
I prefer the Chinese medicine philosophy of taking an holistic view to health.
Hi Jared,
Unfortunately no. Old people mindset, fear of finding something wrong with their health? My dad goes for a standard medical checkup as part of his job requirements as a Taxi driver.
The last time my partner and I went for a full check up was about 3-4 years ago. I think I should go for one soon.
Agree that early detection is important but how can I drag them to the clinic?Examples of their friends who died from cancer due to late detection still cannot convince them.
Talking about medical checkup. I recall that insurer usually frown on this. I wonder why.
I know.
It’s the same with my mom.
Last week after going to Alexandra hospital A&E, we discovered she had glaucoma. But it was after 4 days of denial and self-medication by my mom when the first blurred vision started… You should see how exasperated I was…
After this episode, I’ve come to the realization that I have to keep myself healthy and fit so I can be around to take care of her – not the other way round. Taking care of yourself is taking care of them.
By the way, we had a good experience with government doctors. When my mom had one of her knee replaced at Alexandra Hospital 5 years ago, she got operated by a famous knee surgeon – even though we did not have a say on the selection and she stayed at class B2.
How we see the world is coloured by our own experiences. I don’t need “branded” medical services.
Hi,
No matter what our parents’ mindset are, correct me, they would not want to trouble their children.
Based on the above, we need to communicate effectively so that they understand what their options are:
Seek medical advise, early detection leads to early treatment, hence low cost.
Seek medical advise at a later stage, leads to late detection and more cost.
Seek no consultation leads to pain, suffering and if treatment is seeked here, huge cost.
It worked for me! Ask them if they wish to burden their children with huge medical expenses. Most of the time, they would not burden their children and they end up seeking treatment.
However, i have a different opinion if they are over age 75 or 80. This reflects their ability to undergo treatment or surgery. Your thoughts would then be… does your parents have the energy to seek treatment while thei health at age 80 may probably not be strong enought for surgery or treatment.
I hope the above helps…