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Many insurance agents simply tell their clients to buy into the most expensive Shield plans that they are selling without even bothering to find out the existing medical conditions and existing shield plans of their clients. This is usually done as an afterthought — doesn’t really matter to the agents whether the customers buy the expensive Shield plans or not. Their focus is on the customers buying the expensive wholelife and endowment plans. This is the *only* way for most agents to survive i.e. to meet their sales targets and don’t get fired after 3 months by their insurance companies or agencies.
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Yes, basic Medishield.
Good to know there is a fall back to original from private plan. The private insurers should make this obvious. The reason I didn’t go private is because it’s not stated I could fall back to basic medishield should I decide to withdraw from the private plan.
Thanks.
Thanks Martin,
I meant from enhanced incomeshield to original. (I’m not even sure who is managing the original, government or appointed insurance company)
Thanks.
The basic Medishield?
That is no problem at all. The basic Medishield is actually embedded within all the private integrated shield plans. When you drop out of the private plans, you fall back into Medishield.
In general, downgrading of plans has no issues, but upgrading of plans require medical underwriting.
ReplyHi Martin,
I was considering to update to the enhanced scheme. However, when I looked at the premium from age 60 onwards, it goes up by a substantial amount. Do you know whether we can revert to the basic scheme upon reaching age 60? Thanks.
Dear Jack,
Do you mean downgrade from enhanced preferred to enhanced basic? Or from the Enhanced incomeshield to the original version?
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