Introduction
In today's uncertain world, having comprehensive health insurance is crucial for financial security and peace of mind. While MediShield Life provides basic coverage for all Singaporeans, it may not be sufficient for those seeking higher-quality healthcare options. This is where PrimeShield, a supplement to your Basic ElderShield plan, comes in. PrimeShield offers enhanced protection against severe disability, providing higher cash benefits and lifetime coverage to ensure you receive the care you need when you need it most.
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Key Features
PrimeShield offers a range of key features designed to provide comprehensive coverage and financial support in the event of severe disability. These features work together to enhance your Basic ElderShield plan and provide you with greater peace of mind.
Higher Monthly Benefit
PrimeShield provides a higher monthly disability benefit if you become severely disabled. The benefit payout depends on the level you choose, ranging from $500 to $3,000 per month, less any payout from your Basic ElderShield plan.
Lifetime Payout
With PrimeShield, you're guaranteed a lifetime monthly benefit payout as long as you remain severely disabled. This coverage continues even after your Basic ElderShield benefits have been exhausted.
Lump-Sum Benefit
Upon severe disability, PrimeShield provides a one-time lump sum payout equal to 3 times your chosen monthly disability benefit. This can help cover immediate expenses or modifications needed for your care.
Dependant Care Benefit
If you have a child under 21 and become severely disabled, you'll receive an additional 25% of your chosen monthly disability benefit. This benefit is payable for up to 36 months in your lifetime, providing extra support for your family.
Get-Well Benefit
PrimeShield offers a one-time payout equal to 3 times your monthly disability benefit if you recover from severe disability. This can help with rehabilitation costs or other expenses as you regain your independence.
Medisave Payment Option
You can use up to $600 from your Medisave account per calendar year to pay for your PrimeShield premiums. This flexibility helps make the coverage more affordable and accessible.
Benefits
PrimeShield offers a comprehensive set of benefits designed to provide long-term financial support and peace of mind. These benefits go beyond basic coverage to ensure you're well-protected against the financial impact of severe disability.
Lifetime Coverage
PrimeShield provides guaranteed lifetime coverage, ensuring you're protected for as long as you live. This long-term security is invaluable when planning for potential future care needs.
Guaranteed Renewability
Your PrimeShield policy is guaranteed renewable, meaning you can maintain your coverage regardless of changes in your health status. This ensures continuous protection throughout your life.
Death Benefit
In the event of death while receiving monthly disability benefits, PrimeShield pays out a one-time benefit equal to 3 times your monthly disability benefit. This can help cover final expenses or provide additional support for your beneficiaries.
Waiver of Premium
If you become severely disabled and are eligible for benefit payments, you don't have to pay premiums during this period. Premium payments resume only if you recover from severe disability.
Non-Forfeiture Option
After a minimum number of premium payments, your policy becomes paid-up if you fail to pay a premium. Instead of cancellation, benefits are reduced, ensuring you maintain some level of coverage.
Worldwide Coverage
PrimeShield provides 24-hour worldwide coverage, ensuring you're protected even when traveling or living overseas. This global protection offers peace of mind no matter where life takes you.
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Other Benefits
PrimeShield offers additional benefits that further enhance its value and provide comprehensive support in various scenarios. These features demonstrate the policy's commitment to meeting diverse needs and situations.
Flexibility in Benefit Levels
PrimeShield allows you to choose monthly benefit levels from $500 to $3,000. This flexibility enables you to tailor your coverage to your specific needs and budget.
Complementary Coverage
PrimeShield is designed to work seamlessly with your Basic ElderShield plan, providing additional coverage that kicks in after your Basic ElderShield benefits are exhausted.
Exclusive Policyholder Treats
As a PrimeShield policyholder, you'll enjoy exclusive treats and benefits curated specially for Income policyholders. These additional perks enhance the overall value of your policy.
Eligibility and Application Process
PrimeShield is open to Singapore Citizens and Permanent Residents aged 40 to 64 years old (last birthday) who have an existing Basic ElderShield plan. You are only allowed to purchase one PrimeShield policy. To apply, you'll need to complete an application form and provide information about your health status. The application process is straightforward, and Income's team is available to assist you with any questions or concerns you may have during the process.
Claims and Customer Service
To file a claim under PrimeShield, you need to submit a completed claim form along with a certification from an assessor appointed by Income confirming your severe disability status. The first medical examination cost is borne by you but will be refunded if your claim is accepted. Income may request additional medical examinations, which they will cover. For customer support, you can contact Income's dedicated service team through various channels including phone, email, and their website. They are committed to providing prompt and helpful assistance for all your policy-related needs.
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Conclusion
PrimeShield is an excellent choice for individuals looking to enhance their Basic ElderShield coverage and secure long-term financial protection against severe disability. It's particularly well-suited for those who want higher monthly benefits, lifetime coverage, and additional features like dependant care and get-well benefits. If you're between 40 and 64 years old and want comprehensive severe disability insurance that goes beyond basic coverage, PrimeShield could be the right solution for you.
who can provide you with tailored advice and options. Plus, by participating, you'll be entered into our 'Premiums On Us' quarterly draw, where you could win your quarterly insurance premiums paid by Whatins. Don't miss this opportunity to secure your future and potentially save on premiums!
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