Health insurance

• It is a type of insurance plan that helps the insured manage the costs of unexpected medical and surgical expenses.
• It covers various expenses including hospital stays, surgeries, critical illnesses, disabilities, and even long-term care.

Unexpected health issues can affect anyone, from the young to the old and the medical cost involved may be hefty. Hence, a health insurance plan is an essential financial safety net for all.

• Evaluate your specific needs including age, existing medical conditions, potential familial health concerns, and anticipated healthcare requirements.
• Then determine an appropriate premium payment plan that aligns with your financial capabilities. Compare deductibles, co-payments, and coverage limits to find a plan that fits your preferences.
• Take into consideration the network of healthcare providers, facilities, and services included in the plan. Thoroughly review the policy terms and conditions to understand the coverage limitations and exclusions.
• Take note of the different health insurance plans that are available: hospitalisation and surgical plans, critical illness plans, hospital cash plans, etc.
• If you are unsure about anything in the plan, speak to a qualified Financial Representative to find out more.
   

• While all Singapore Citizens and Permanent Residents are covered under a basic health plan provided by the government (i.e. MediShield Life), you can opt for additional health insurance coverage for more protection.
• The health insurance policy you choose will depend on your needs, including your health requirements, preferences, lifestyle, age, medical conditions, and family composition.
• Different plans serve various purposes:

- Hospitalisation and Surgical plans: cover hospital room and board, doctor fees, and other related charges during hospitalisation, for example: Great Eastern’s GREAT SupremeHealth and GREAT TotalCare

- Hospital Cash plans: provides payout for each day of hospitalisation. The payout can be used in whichever way one may wish, for example: paying the daily living expenses during the recovery period, for example, Great Eastern’s GREAT Hospital Cash

- Critical Illness plans: provide a lump sum payout upon diagnosis of a critical illness covered by the plan, such as cancer or heart disease, for example: GREAT Critical Cover Series.

- Disability Income: Provide income if you are unable to work due to disability, for example Pay Assure

- Long Term Care: Pay for care if severely disabled, for example GREAT CareShield

• Ultimately, whichever plan you choose will depend on your unique circumstances.

• For hospitalisation and surgical plans, you must purchase via a qualified Financial Representative as it requires medical underwriting. For health plans with minimum health underwriting, you may purchase online.
• Talk to our qualified Financial Representatives today to find out how you can protect yourself against unexpected health issues that may incur hefty medical expenses.