The ultimate price comparison of Integrated Shield Plans (NTUC, Prudential, AIA, Great Eastern + Aviva, AXA)

Jes , 30 Comments

Finally.

I finally got around to doing this and finally can get to say that this is really the ultimate price comparison with the numbers from all the insurance companies.

For my last post, I did not add in Aviva and AXA so I was reminded by many that it was not the ultimate price comparison yet. So now, besides NTUC, Prudential, AIA and Great Eastern, the numbers of Aviva and AXA were included as comparison to find out which is the cheapest.

As usual, for MediShield Life and its cost, please check out my previous post which has already covered it. The comparison is done similarly, I am just comparing the prices and not the other details like the the cash benefits.

I have tried to make the tables bigger but due to space constraints and with so many numbers, I think I might need a magnifying glass.




So, I have shrunk the table to include only the total numbers. Remember, Medisave account is also your money and must be taken into account. The total here is equal to the total from the previous 3 tables, which is the sum of the Medisave and cash portion. Prudential has a range of prices as every age differs in premiums.

AXA (yellow boxes) is the cheapest while NTUC(orange boxes) is the second-most affordable

AXA (yellow boxes) is still the cheapest while NTUC (orange boxes) comes in a close second

NTUC (yellow boxes) reigns here with AXA (orange boxes) in a close second. Prudential does not have similar plans.

Conclusion
For 100% coverage under private hospitals, AXA is cheaper than NTUC, with NTUC coming in second.
For 100% coverage under public hospitals with ward A and below, NTUC is the cheapest below 73 years old, while AXA is most affordable above 73 years old. Great
For public hospitals with ward B1 and below, NTUC is the most affordable below 80 years old while AXA comes in a close second.

Overall, AXA and NTUC are the cheapest. Previously I concluded that GE is second, but from these tables, I think GE is third behind both AXA and NTUC.

For Me
I will be changing from PruExtra Plus to GE Gold A Plus, which is the coverage under Ward A and below in public hospitals. Price is not as cheap as NTUC but as NTUC did not send any agents to me even after I called for them, I decided GE was good enough for my age band.

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Please do not trust my calculations and look through the various benefits and policies that you have. I do not recommend NTUC or other policies because I get zero commission from this. Like me on Facebook to get more updates on relevant financial comparisons.

Jes

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30 comments:

  1. This is simply comparison of premiums without taking into account the different benefits. Eg. ntuc has the lowest pre/post hospitalisation benefit?

    ReplyDelete
    Replies
    1. Hi there,

      As I mentioned previously, I am just comparing the prices and not the other details like the the cash benefits. It is because I would rather pay cheaper for the insurance than get back cash benefits should disasters strike. And that's for me, just purely based on dollars and cents.

      I guess you might be right about the hospitalisation benefit, thanks for sharing! :)

      Delete
  2. Hi Jes,

    Thanks for the summary. Wonder why you stop compiling at age 75?
    Should compile up to age 99. lol.

    ReplyDelete
    Replies
    1. Hi Ray,

      Yeah good point, maybe I should compile it to 99 although the table gets bigger and more complicated! I have no idea why I stop at 75. But that will make sense for people who are looking out for their parents. Will definitely amend it when I have time, thanks for the suggestion! :)

      Delete
  3. I think the calaculation for AXA is wrong.

    ReplyDelete
    Replies
    1. Hi Idyllicsponge,

      Please let me know which part is wrong. I just checked the figures again and they looked to be in proper order. This is the shield plan brochure (https://www.axa.com.sg/pdf/our_solutions/health/health/axa-shield/AXA_shield_brochure.pdf). Not sure if I used a outdated one or a wrong plan, please do let me know!

      Delete
  4. Hi Jes,

    For the Pru Shield Calculation, was there a reason why you did not include beyond 75 years old?

    I am currently covered under Prushield Premier and am contemplating getting the rider that fully covers all my bills. But am thinking of switching providers especially since Prushield has the tiering system now.

    Thank you for the wonderful article(s). :)

    ReplyDelete
    Replies
    1. Hi there,

      Oops, I forgot to add in the reason here, I only stated it in my previous comparison. Anyway, Prudential has taken down the prices online so I can't find them anymore. Unfortunately, I only have the numbers till 75 years old, I did not compile it till 99 the last time because I thought it was not needed. Let's see if any kind soul is willing to send me the prices.

      Nonetheless, as you can see, Prudential won't be anywhere near the cheapest. Haha, I agree the tiered system seems quite complicated. Appreciate your compliments, all the best in getting the best policy :)

      Delete
  5. Hi Jes, currently I am holding on to Prudential. But because the one that sold me this is really ignorant on the plans and I sign not knowing what I had signed. And I intern at a GE company before and I thought of changing to another provider since I have no trusting agents in Prudential and the recent changes to their policies. For me, is GE still a good choice in term of pricing? Because I know and interact with GE agents whom I think maybe more professional and trusting while other companies I have no contacts at all.

    ReplyDelete
    Replies
    1. Hi there,

      Oh, you are totally different from others. Many just sign on policies just because their friend recommends, most do not really care which insurance company it is. Overall I think GE is still more affordable than Prudential.

      I would suggest you find an agent you are comfortable with and preferably able to advise you appropriately as you are paying for their services too. All the best :)

      Delete
  6. hi jes, I am abit confused about the prudential pricing you indicated. Isnt their PruExtra Premier plan based on individual age instead of an age-band? https://www.prudential.com.sg/en/our-solutions/products/prushield-extra/
    Somehow, I cant make the numbers add up?

    ReplyDelete
    Replies
    1. Hi there,

      Oh you are right. They just updated the new prices so I will have to update my table too. Sorry for the confusion caused and thanks for informing me! :)

      Delete
  7. Hi there,

    Nice table, but you may want to re-check your numbers.
    The AXA calculation is wrong. I bought from them.
    For example, age band 31 to 35, AXA shield plan A premium is 310 + 272 = 582.
    310 is the part fully payable by medisave, 272 is the part payable by medisave but capped by AWLs.
    not sure why CPF need to divide the premium in this way, personally i think they do it purposely to confuse people.

    ReplyDelete
    Replies
    1. Hi there,

      These numbers are taken from their brochure on their website (https://shield.axa.com.sg/axa-shield-plans) and I have double checked the figures. I think the difference could be because they have increased their price recently.

      Well, not everyone is buying and can afford integrated shield plans. You can get a basic plan which is not 100% covered just purely by paying with CPF. You would only need to pay by cash if you need 100% coverage.

      I don't think it's done to purposely confuse people though, different age has different probability of admittance into hospitals and insurance companies can market it such that you pay less cash upfront but more cpf money. I do agree the numbers are quite confusing though, thanks for sharing :)

      Delete
  8. I just got notification from AIA on the coming year increase and found your table. Great work! Like you, I'm keen to pay the minimum for full coverage.

    ReplyDelete
    Replies
    1. Hi there,

      Thanks for the motivation! But oh dear, AIA is not cheap at all, glad you are looking for an alternative. Happy new year! :)

      Delete
  9. Hi ,

    I plan to swift to AXA too since Prudential has increased their price.

    Thanks for your table. Really comes on time.

    Cheers.

    ReplyDelete
    Replies
    1. Hi Chris,

      Oh good idea! However, if you have not claim any bills before, Prudential do give 20% off from their standard plans. I will be writing a post on this next Tuesday, do give it a read too :)

      Delete
  10. Hello Jes. Firstly, I'll like to thank you for this compilation of all the price plans. It is extremely useful!

    I would like to highlight that the AXA pricing is wrong because you have missed out the Premium payable for the Additional private insurance component. Eg.
    For AXA Shield Plan A for age 31-35: it should have been $310 (medisave life) + $272 (private insurance) + $322(basic care) = $904. Basic care is the rider to help cover the 10% co-payment. Hope this helps. :)

    ReplyDelete
    Replies
    1. Hi Kok Sheng,

      Thanks for your feedback.I mentioned the Medishield Life portion in my previous post (https://simplyjesme.blogspot.sg/2017/05/the-ultimate-price-comparison-of.html), which is what everyone has to pay.

      These numbers is comparing the part excluding the Medishield Life portion, which means $272 + $322 for your example. Since everyone got to pay the Medishield Life portion at the same amount, I figured it was not worth comparing in my figures. I am sorry I did not specifically mention it in this post but appreciate the reminder!

      Delete
  11. Hi Jes,
    I think GE has a Total Health Platinum Select plan. It covers panel private doctors only. This plan is cheaper than AXA

    ReplyDelete
    Replies
    1. Hi Steven,

      I wrote in my previous post that "Great Eastern has a Total Platinum Health Select + Health Connect and is the cheapest among the 100% coverage for private hospitals. The caveat is that it requires 3 days pre-authorisation."

      I agree it's the cheapest but the pre-authorisation will put off most people and can't really be compared with the other insurance companies. Thanks for sharing :)

      Delete
  12. Hi Jes,

    Thanks for the compilation of the info, which is a very useful one.

    Do you have the information on the feedback/experience of the Claim by the beneficiaries? I think it is also important. If you could provide some information, it will be of great use.

    Thanks,
    Rajan

    ReplyDelete
    Replies
    1. Hi Rajan,

      My accident claims so far has been fast and the people I know have no complaints over claims too. Probably because all of us buy from friends/relatives, which makes things easier.

      No problem, if you know of anything, do share! :)

      Delete
  13. Hi Jes,
    I want to ask something.
    if I am an Indonesian, would like to take PruShield premier in singapore, how can I become a customer?

    and if I am 49 years old what is the annual premium?


    do i have to pay medishield life first?

    ReplyDelete
    Replies
    1. Hi there,

      You can call Prudential to ask for an agent, or if you want I can pass you my friend's contact details and they can sign you up.

      If you are dependants of Singaporeans or PR, at 49 years old you will have to pay $1030. If you do not have any dependants here, you will pay $1082 for PruShield Premier.

      You will not be able to pay for Medishield Life nor will you be covered under its policy. I might not be the most reliable source so it's better to check with the agents. Good luck! :)

      Delete
  14. Hi Jes, do you know if medical report is required to buy these policies?

    ReplyDelete
    Replies
    1. Hi Hui Yi,

      From what I know, only people above 60 years old and those with pre-existing conditions will be required to go through a medical examination. Otherwise, no report is needed :)

      Delete
  15. Thank you Jess, and I have checked the premium from INCOME by its brochure and it's higher than those stated in your spreadsheet above, and in fact higher than GE generally.

    ReplyDelete
    Replies
    1. Hi Hui Yi,

      You are right, they just increased prices in March. Seems like I can't keep up with all the price changes. Not sure if I should still update the figures because the 5% co-payment policies should be out soon and would be most applicable.

      Thanks for informing me! :)

      Delete