Skip to main content

Here's a reason why you should buy the best hospitalisation plan

You must be thinking why a lady in her 20s is telling you this. Simply because, this young lady has just received her medical report and there are some issues that need medical advice.

Your Health is Your Most Important Asset. It's not too late when you're healthy.

I purchased the NTUC Enhanced Incomeshield plan since I started working. I knew I needed some wealth protection because I've always been a weak kid. I also happened to know that my parents did not purchase any insurance plans for us because "Daddy has no money for those". Honestly, I was dumbfounded. I was angry and I cried. I felt that my parents didn't love us enough. Which parent does not purchase insurances for their kids? I always thought we were covered.

"Why didn't he purchase hospitalisation plans for us!?" I exclaimed. "What if something happened to us and we had no money to treat?!" My mum probably thought I was really senseless and selfish to say such things, which after thinking through it now, I might have been a little rude. The short answer to the lack of insurances for us was because, we had no money (to spare).

Since I started earning my own keeps, I knew the 1st plan I needed was an hospitalisation plan. Do I know what I needed? Honestly, no. But I refused to purchase anything from an insurance agent. I just couldn't trust them knowing that they earn money from the plans I bought (sorry to agents reading this). All I trusted was myself. So, smartie me decided the best place to look around was via Google. Long story short, I decided on NTUC Incomeshield because

  1. their terms were easy to understand
  2. charges seem transparent
  3. I could purchase it just by going down their store
  4. I trust their brand
So off I went to the Bras Basah outlet in 2013 and signed on the Advantage plan. According to the agent, he finds that I do not need the Preferred Plan since public hospitals are equally good. I thought, "hey, at least he doesn't push me to take on the best plan!"

3 years down the road, I've changed my mind. I wanted to upgrade to the best plan possible because, why wait when I'm still young and healthy?! As we grow older, our health gets weaker. Should I decide to upgrade later when I'm diagnosed with some illnesses, it'll be too late. 

I've already upgraded my plan and took on the Plus Rider. It's time for you to take action if you've not purchased any hospitalisation plan.

Your Health is Your Most Important Asset. Be sure to protect it.

For the clueless, you may wish to check out the Medishield Life website to decide if you require an enhanced plan.
MediShield Life

You may also refer to AK's take on that. He might convince you better than I did.

Good Luck.


  1. Hi! Nice to different new voices blogging on finance etc. Once upon a time, I was like you - but I wished I had spent more time budgeting and investing then. Hope to see you continue blogging! (By the way, the best private shield plan can get rather expensive at older age and there is mthly withdrawal limit on cpf that can be used so gotta be careful there)

    Kevin L.

  2. Hi Kevin

    Thank you for your advice! I guess I will have to weigh the cost as the premiums get more. Hope not to downgrade my plan unless it's too costly to stomach. Will keep your words in mind :)

    Stay healthy! That's most important.

  3. Incidentally, did NTUC provide a projection of the charges for the rider as you grow older? It's not a fixed price. And subject at their discretion to adjustments (which I think is never going to be downwards). But I do agree it makes sense. Just need to do so with eyes open.


Post a Comment

No rude messages please. Unkind messages and spams will be blocked and deleted.

Popular posts from this blog

I finally cross $700k networth, after 1 year 4 months

I wondered how I should kickstart this post - should I be positive or negative about this? After 1 year 4 months, I finally crossed $700k in networth - returning back to where I've been at, back in Dec 2021.  I am disappointed.  For the past many years, I've always been growing my networth, at around $100-$150k/year. I had big plans to hit a net worth of $850k by December 2022, but the universe had other plans for me. Instead, I only managed to reach $646k, leaving me with a $204k gap to my target.  Ever since I became more aggressive in my "investment" portfolio in 2021, being sucked by greed to deploy most of my cash into stocks and crypto, I fell heavily, along with the crashes. Crypto wiped out 5 digits savings, so did the stock market.  To be honest, ever since the crashes and a bad hit to my net worth, I actually didn't do anything special to improve. I didn't make drastic spending cuts, I didn't stop my holidays, I didn't continue investing (no

First CPF top up in Jan 2023 and tax relief concerns

Detailing my yearly CPF top-up and thoughts.  This is my 8th year of top-up. 1. Top-up $2.5k to Medisave via Paynow Did a $2,500 top up to my Medisave, bringing it to 2023 MA ceiling of $68,500. Done the same for my husband as well. 2. On hold - To top up $5.5k to SA or no? Contrary to the past where I top-up at the start of the year, I have decided to hold off the top-up. A) Running out of cash Firstly, I'm running out of cash. I'm berating myself for degrading to the past where I look forward to my monthly income for cashflow. So I can build up my $100k capital in savings account again, given the current high interest environment.  B) Hitting FRS soon = no tax relief Secondly, I'm concerned about reaching FRS too soon.  The FRS this year is $198,800. I'm now sitting on ~$157k SA which means $41,800 away from reaching this ceiling.  I know some people encouraged maxing this out ASAP. But, as I've crossed 6 digits annual income, maxing FRS soon meant lower tax relie

Starting 2023 with extra $9,979.20

Happy 2023~! I woke up feeling not very positive. It seems like I've brought forward my 2022 negative thoughts along. I ought to be more optimistic! Anyway, my best way of welcoming the new year is to count the new inflow of $ and here's my CPF interest for 2022: Have you check your CPF interest yet?