My insurance plan after 30s 

After graduation, I purchased a few insurance plans, but now that I have a clearer understanding of my needs and what suits me in the long run, I need to make some adjustments.

Company insurance

  1. Accident $200K
  2. Medical : Cashless at GP panel & gvt hospital

Personal insurance

  1. Life plan & Term plan

Ideal life coverage: 250K - 450K

In a situation where I don't need to allocate the money to beneficiaries.

  1. Careshield under Great Eastern: considering
  1. Hospital plan

A downgrade plan for both private and public hospital  that is reasonably good

Shortlisted: Great eastern 

Currently using HSBC life

An affordable rider for private hospital: 5% co payment and deductible cap at 6.5K  

  1. Accident plan for $100K coverage

Medical reimbursement: FWD $2000($160), Prudential $2000 ($209) GE $2000($161)

FWD is good due to the ease of claiming but the TCM cap is $50 per visit.

Concerns for Class A Public hospital plan

  1. 180 days post hospitalization for AIA (standard: 365 days)
  2. 550K policy year limit for HSBC life (standard: >1M)
  3. Bone marrow (25K) for GE (standard: as charged)
  4. Proration factors 35% for GE (standard 70%)

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