Martin Lee @ Sg
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NTUC Offers Free Upgrade of Medical Insurance for Children

Free Child Upgrade Campaign: 11 May 2009 – 30 September 2009

From 11 May 2009 (Monday) last week, Incomeshield launched a new campaign: Free Upgrade for Children.

NTUC income will offer all children in Singapore a one-year free upgrade from MediShield to their Standard Incomeshield Plan B. This offer is available to all Singapore citizens and permanent residents aged 16 and below, who do not hold an integrated Shield plan by NTUC Income or other insurers.

This decision comes amidst growing a concern to help needy families affected by the economic downturn. Further, in periods like the present, where there is an ongoing flu pandemic, a health insurance policy like Incomeshield provides cover against a gamut of ailments and defrays the hospitalization expenses incurred on medical treatments.

Parents who wish to upgrade their children’s MediShield plan may do so between 11 May and 30 September.  Those whose children are on MediShield will continue paying the $33 yearly premium, and NTUC Income will absorb the $19 it costs to upgrade to Standard Incomeshield Plan B, which costs $52 a year. Those who want to upgrade their children to a higher plan than Plan B, we will give a $19 discount on the first year premium as well.

Another good news is that for NTUC members, instead of offering Standard Incomeshield Plan B, NTUC will offer their children an Enhanced Incomeshield Basic plan instead. The parents will only need to pay $33 and get an Enhanced Incomeshield Basic Plan worth $70 a year, this works out to a discount of $37. This $37 discount may be applied to other higher Enhanced Incomeshield Plans as well, with the offer similarly limited to a one-year term.

All children, on age next birthday must be aged 16 and below, policy submitted on 11 May onwards till 30 Sep 09 will be automatically given $19 discount. 

Some main points to highlight :

1) New Business only

Please note that this campaign is for new business only, any change of plans or adding riders will not be entitled to the discount.

2) Foreigners

The life to be assured must be Singaporean Citizens or Permanent Residents. Foreigners are not entitled to the discount.

Further Comments

This promotion by NTUC is essentially a discount of $19 for the first year (or $37 if you are a NTUC member) if your child takes up an integrated shield plan with NTUC. 

An integrated shield plan is essential for everyone and should be taken up as early as possible to ensure proper hospitalisation and surgery (H&S) insurance coverage for life.

Certain medical conditions developed later on in life might cause a person to become uninsurable – meaning insurance companies will reject an application for H&S cover.

While the discount by NTUC is a good incentive for people to buy a proper H&S plan for their children, do consider your circumstance carefully before taking up the Plan B that is being offered.

You should really take up a plan that is suitable for the kind of ward you intend to stay in if you are ever hospitalised. Should you take up a higher plan, you will still enjoy the $19 discount.

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