As I mentioned in the my previous blog entry, when one is scouting for health insurance policy, there are three criteria one should be comparing: 1) The amount of coverage during hospitalization; 2) The types of coverage after discharge, including out-patient treatment; 3) The claims limit per policy year and per lifetime. Let’s compare the benefits of AIA Plan A with NTUC Basic Plan.
Now if I were to choose based on my first criterion, i.e. amount of in-patient coverage, and if I were to opt for a Class B1 ward (an air-con ward with four beds and an attached bathroom; B1 ward and above are considered non-subsidized ward), NTUC Basic Plan will pay as per charged, whereas AIA Plan A capped it at $830 per day in any ward or $1300 per day in ICU. But if I consider the surgical benefits, NTUC Basic Plan will pay as per charged, unlike AIA Plan A which has a cap limit.
Next, if I were to compare the out-patient treatment benefits, AIA Plan A cannot hold a candle at all to NTUC Basic Plan as the latter plan pays as per charged. AIA Plan A loses out by a wide margin in this category.
Lastly, if I were to compare the claim limit per policy year, AIA Plan A also loses out by another wide margin as well. AIA sets a cap limit of $120,000 per policy year, while NTUC Basic Plan sets $150,000. But for lifetime limit, there is no limit at all for NTUC Basic Plan, while AIA Plan A caps it at $5 million for lifetime.
Now it is clear which is the winner. But if you think the premium for NTUC Basic Plan should cost at least twice AIA Plan A, here’s the truth.
May AIA one day rise to the challenge of meeting real human needs rather than being focussed on commission, and may they set the standard which other insurance company will hold up to one day.