Enhanced IncomeShield: Comprehensive Health Coverage for Your Peace of Mind

Are you worried about rising medical costs in Singapore? You're not alone. Medical expenses in our country are projected to increase faster than most of the region , with surgery charges experiencing the highest inflation rate. This trend can lead to significant out-of-pocket expenses and potential loss of future income. That's where Enhanced IncomeShield comes in - a comprehensive health insurance plan designed to give you peace of mind and financial protection when you need it most.

Enhanced IncomeShield is a MediSave-approved Integrated Shield Plan (IP) that provides extensive coverage for your hospital and surgical expenses. It's designed to complement the basic MediShield Life (MSHL) coverage that all Singapore Citizens and Permanent Residents have, offering additional private insurance coverage for enhanced protection.

Enhanced IncomeShield offers three plan types: Preferred, Advantage, and Basic. Here's a simplified breakdown of the key benefits:

The cost of Enhanced IncomeShield depends on your age and the plan you choose. For example:

• For ages 40 to 65: Annual premiums range from about S$311 to S$641

• For ages 66 to 75: Annual premiums range from about S$458 to S$898

• For ages 76 to 85: Annual premiums range from about S$676 to S$1,439

These premiums are inclusive of 9% GST and may increase as you get older.

Both riders also offer additional benefits for cancer drug treatments and coverage for an extra bed if your insured child is hospitalized.

Let's say Mr. Lee, age 40, has the Enhanced IncomeShield Preferred Plan and is hospitalized for 4 days in a private hospital for knee replacement surgery. His total bill is S$40,000.

Without a rider:

• Enhanced IncomeShield pays: S$32,850

• Mr. Lee pays: S$7,150 (S$3,500 deductible + S$3,650 co-insurance)

With Deluxe Care Rider:

• Enhanced IncomeShield pays: S$32,850

• Deluxe Care Rider pays: S$5,150

• Mr. Lee pays: S$2,000 (5% co-payment, capped at S$3,000 per policy year)

This example shows how adding a rider can significantly reduce your out-of-pocket expenses.

• Premiums are not guaranteed and may increase as you age.

• There are certain exclusions and limitations to the coverage. Always refer to the policy document for full details.

• The plan is subject to pro-ration if you choose a higher ward class than your entitlement.

• For non-Singapore citizens, there may be a reduction in benefits (citizenship factor).

In a world of rising healthcare costs, Enhanced IncomeShield offers a comprehensive solution to protect you and your loved ones from the financial impact of medical expenses. With its flexible plans, extensive coverage, and additional rider options, you can tailor your protection to suit your specific needs and budget.

Remember, the best time to get health insurance is when you're healthy. Don't wait until it's too late. Consider Enhanced IncomeShield as your partner in ensuring a healthier, more secure future.

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