I just got my new annual premiums for my Singlife Shield Plan 1 and Health Plus Lite.
Our shield plans auto-renew their premiums, but the premiums are not guaranteed, and they have been a nasty surprise recently because you do not know how much they will be raised.
The premiums for my Singlife Shield Plan 1 will rise from $727 to $805 (11%) and Health Plus Lite will rise from $201 to $373 (85%).
Yikes.
I should be glad the absolute amount is still manageable since I am working and I don’t have to save much of my paycheck.
This post will be similar to my previous one on Prudential’s Shield plan. I will help you understand the various aspects of a typical shield and rider before we look at how the premiums have increased in the past year.
The data is from the revised premium rates annual documents I received.
Framing the Different Grades of Singlife’s Shield Plans
Singlife offers three different grades of shield plans....