Category Archives for Insurance
Increase in Medisave Withdrawal Limits for Insurance Premiums
The Medisave withdrawal limits that can be used for the paying of the premiums for Medishield or the private Medishield integrated plans will be raised for the elderly (age 66 and above) starting from 1 November 2013. The new limits are as follows: From $800 to $1,000 for those aged 66 to 75 (based on […]
Enhancement of Community Health Assist Scheme & Medisave Usage
MOH has announced more details on the initiatives on healthcare affordability which were first announced by PM Lee Hsien Loong in his National Day Rally last weekend. The key changes will be an enhancement to CHAS, as well as an extension of the use of Medisave. All the changes take effect from 1st January 2014. There are […]
Suggestions for a Better Singapore Healthcare System
The Government Parliamentary Committee (GPC) for Health has made several suggestions to the government to revamp our existing healthcare system. The suggestions cover the use of Medisave, Medishield and the amount of subsidies that we get. The announcement of the suggestions is a way for the government to test out the ground reaction to the […]
Providend Offers Insurance Commission Rebates
The announcement that Providend will be offering commission rebates might not seem like something new to their fee paying clients. After all, Providend’s fee paying clients get a rebate of all the commissions that they pay. What is new, however, is that Providend is now offering this rebate to their non-fee paying clients as well. […]
Life Insurance Industry to Revise the Investment Returns Assumed in Benefit Illustrations
With effect from 1 July 2013, all the life insurance companies will adopt a set of lower investment returns of 4.75% p.a. and 3.25% p.a. for use in the benefit illustrations for Singapore-dollar denominated Participating (“Par”) policies. Participating policies are those that have a share of the allocations of the Participating (“Par”) Fund. This is […]