Insurance
Medishield Life and Integrated Plans
By Singapore Man of Leisure  •  October 2, 2015
Last night, I attended this Medishield Life presentation given to Union leaders and activists at NTUC. At the reception and registration, I was a bit taken aback when everyone was calling each other "brother" and "sister"? Is this how unionists call each other? I would have preferred "comrade". That would put a left wing socialist vibe to the address which I think suits better. The presentation started at 7:03 pm when its stated on the programme 7:00 pm - not too bad. Can excuse with my clock and your clock not synchronised mah! I can live with that. But participants were still strolling in by 7:10 pm... Union leaders? Hmm... OK, I better stop trolling, least I won't be invited back for the free meals... Everything you want to know about Medishield Life Here you go: Medishield Life What? You didn't expect me to spoon feed you, did you? Don't you find it strange many retail investors like to rely on 2nd hand or 3rd party summaries - when they can go to the source directly? Isn't it better to do your own homework, form your own opinions, then have a meaningful 2 way discussion with others (preferable just as informed as you), where needed?   
You don't bitch about the increased premiums if you... Here's something to have fun with. If you have colleagues or friends that like to bitch about the senior citizen cleaners at Changi airport, hawker centres; old folks collecting cartons and beer cans by the roadside, etc; see if they'll complain about the increased premiums for Medishield Life... No, don't poke them. Smile knowing they are "bleeding hearts" just as long as others pay.  What you really cared about is what happens to your Integrated Plans right? Makes a lot of sense. Especially when it was revealed in the Straits Times that 6 in 10 people with an IP for private hospitals opted for a public hospital when they needed hospitalisation!? And this is even more depressing - 7 in 10 who bought IP for public hospitals A and B1 wards chose lower ward classes when seeking treatment!!!??? Now make a wild guess on these "downgraders" - did they purchase their IPs after doing their homework, or were these IPs sold to them? Are you one of them? Take this opportunity to press the reset button and start from zero-based. Do your own homework on Medishield Life, reassess your needs and circumstances, and especially your financial situation. No one knows them better than you. Of course I want to travel first class - who doesn't? But can you afford it? Imagine paying premiums for first class tickets, but when the time comes for you to do the actual travel, you discover you can only afford budget airlines... All those past premiums paid down the drain... Little lies we tell ourselves are one thing. But lying to yourself costs money when it comes to buying IPs we don't need! Now armed with what you know, have a talk with your insurance agent. It could be an opportune time to assess whether your agent is more interested in his own needs or yours.
Singapore Man of Leisure (welcome to my blog; just google it!
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By Singapore Man of Leisure
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