As of 1st May 2020, the premiums for Enhanced IncomeShield’s Plus and Assist Riders have increased again. This follows price hikes in 2018 and 2016, and seems like a biennial pattern now.
This time, only Assist and Plus riders are affected by the premium hike, while Enhanced IncomeShield, and the newer Deluxe and Classic Care Riders are unchanged, possibly in a bid to push existing policyholders towards the newer plans.
The premium increases range from 15% to a staggering 65% for the riders of Preferred (private hospitalisation coverage) plans, and between 5% to 30% for riders of Advantage (A ward restructured hospitalisation coverage).
My current plan
I’m on Preferred Plan with Assist Rider, and the old annual premium is $375 for Preferred Plan and $341 for Assist Rider (new premium: $409).
Comparatively, Plus Rider is $727, and the new premium is an exorbitant $981.
I have always been...