Seems like my yearly spending is just enough to redeem a one-way business class flight. […]
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
- Accident $200K
- Medical : Cashless at GP panel & gvt hospital
Personal insurance
- Life plan & Term plan
Ideal life coverage: 250K - 450K
In a situation where I don't need to allocate the money to beneficiaries.
- Careshield under Great Eastern: considering
- 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
- 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
- 180 days post hospitalization for AIA (standard: 365 days)
- 550K policy year limit for HSBC life (standard: >1M)
- Bone marrow (25K) for GE (standard: as charged)
- Proration factors 35% for GE (standard 70%)