With Medishield Life, do we need to cancel our insurance?

Funnyjunny SG

Everyone is speculating about the impact on the increase in premiums for new Medishield Life.

They are advising for us to hold back and not cancel insurance plans, as quoted by Zainal Sapari.

I wonder how much subsidies they will give low wage workers and how much more our premiums will go up.

Do you think it's gd advice to hold back our insurance plans or time to cancel them?

"The advice we would give to them is to hold on to whatever insurance plans you have and wait, perhaps, until details are all out and respective insurance companies have actually studied the possible impact before making any decision," said Mr Zainal Sapari.

http://www.channelnewsasia.com/news/singapore/medishield-life-premiums/1141342.html

digimonfan2008 SG

My advice: Don't buy insurance. Hard to claim, hard to verify valid claim. Easy to pay them money. End of insurance, you don't get back anything. Save on your own and depend on savings & medisave is the best.

I've heard of ppl pay and pay money to insurance company yet when want to claim, they're unable to claim as lack of something or not covered.

Lavine Lawrence SG

So should we cancel our existing Medishield plan?

Mukeshmehta967 SG

Thanks for sharing information.