Singapore Insurance

TM Protect Cancer is an insurance term plan that provides coverage when one is diagnosed with early or advanced stage cancer. It is designed for adults age between 30 and 65 and provides coverage extending till age 85. The plan provides comprehensive cancer coverage with 50% benefit payout on early detection of coverage. It provides 100% benefit payout on advanced stage cancer diagnosis. The plan is also guaranteed renewable where coverage is guaranteed despite changes to future health condition. Coverage amounts ranges from $50,000 to a maximum of $150,000. The annual premium rate is also pretty affordable with per $1,000 Sum Assured by Age Band as follows:

There are a number of private hospitals in Singapore (hospital swasta di Singapore). Unlike the Government/Restructured hospitals, these private hospitals are more expensive. There are also limits on insurance claims (especially if you have a hospitalisation plan that does not give coverage for the use of private hospitals) when one uses a private hospital. Here is a list of private hospitals in Singapore: Mount Alvernia Gleneagles Mount Elizabeth Raffles Hospital Camden Thomson Medical Centre Farrer Park Hospital Gleneagles is located conveniently just beside the botanical gardens and directly opposite the American embassy. The hospital also has a medical centre block. Carparking can be an issue at times.

So what is the difference between coinsurance and deductible? These two terms will probably pop up when you are thinking of buying a hospitalisation insurance plan (or termed as health insurance in some countries) or what is also known as an integrated shield plan in Singapore. Well, a simple way to understand it is to treat the coinsurance and deductible as money that you will have to pay for your medical bills even though you have insurance coverage. The reasons coinsurance and deductible exists is probably to keep the cost of insurance low and affordable while preventing individuals from exploiting the medical system and the insurance coverage they enjoy. A deductible is similar to what is the known add excess in motor insurance. This basically means the amount of money you will have to pay FIRST before the insurance company allows for any claims. For example, if the deductible is stated as $2000, and your hospital bill is also $2000, you don't get to claim any money since y