Insurance

Cover Your “Missing” Hospitalisation Cash Benefits With These 3 Plans

The recent revisions to integrated shield plans has resulted in the removal of the daily hospitalisation cash benefits. If this bothers you and you would like an alternative to continue receiving daily hospitalisation cash benefits, here are three plans to look at.

  • Phuan Wei Ning
  • |
  • Published on 24 Jun 2021

In our previous article, "Disappointed with the new integrated shield riders? This is what we think", we explained how the removal of hospitalisation cash benefit in Integrated Shield Plan riders may affect you. If you are worried about having no income replacement in the event of a prolonged hospitalisation, here are three plans to boost your coverage and get the daily hospitalisation cash benefit that integrated shield riders no longer offer.


#1 Hospital CashPlus

Hospital CashPlus by MSIG Insurance

Pros

  • Daily hospitalisation cash benefit for up to 500 days
  • Doubled daily hospitalisation cash benefit if hospitalised in intensive care unit (ICU)
  • Coverage available for individuals as young as 15 days old
  • Worldwide coverage for hospitalisation from accidental injury or illness
  • Competitive premiums, especially for those in the older age groups
  • Discounted renewal premiums if you stay claim-free
  • Cons

  • • Can only be purchased by those age 50 and below
  • Cover automatically lapses if you live outside of Singapore for more than 90 consecutive days
  • Does not cover pre-existing conditions
  • Pick this if... you would like to insure your young children or if you want to receive a daily cash benefit in the event that you are hospitalised.


    May not be suitable for: Older individuals or individuals who spend a considerable amount of time outside of Singapore.

    An affordable plan with a daily hospitalisation benefit, Hospital CashPlus is suitable for individuals who would like to supplement their existing MediShield Life and Integrated Shield Plan. With the recent revisions to Integrated Shield riders, new riders will no longer offer any hospital cash benefit. Therefore if you still wish to receive this benefit, consider supplementing your hospital coverage with Hospital CashPlus.

    Additionally, Hospital CashPlus is also suitable for young children. With coverage offered for babies from just 15 days old, Hospital CashPlus allows your child to get insured as soon as possible. This prevents the possibility of uninsurability in the event that he/she is diagnosed with any medical condition in future.

    Coverage and premium table for Hospital CashPlus

    Silver Plan
    Gold Plan
    Platinum Plan
    Daily hospitalisation cash benefit (maximum 500 days)
    $100 per day
    $200 per day
    $300 per day
    Intensive Care Unit (ICU) daily hospitalisation cash benefit (maximum 60 days)
    $200 per day
    $400 per day
    $600 per day
    Recuperation cash benefit
    Not covered
    $500
    $1,000
    Emergency outpatient benefit (for accidents)
    Not covered
    Up to $500
    Up to $1,000
    Annual premiums for 15 days to age 17 ALB
    $173
    $290
    $463
    Annual premiums for age 18 to 30
    $209
    $347
    $554
    Annual premiums for age 31 to 40
    $247
    $412
    $659
    Annual premiums for age 41 to 50
    $338
    $564
    $905
    Annual premiums for age 51 to 65 (renewals only)
    $478
    $798
    $1,274
    Annual premiums for age 66 to 70 (renewals only)
    $526
    $878
    $1,401

    Hospital CashPlus also offers 25% off renewal premiums for every 12 months that you stay claim free. You may also enjoy 10% off premiums if you enroll in the plan with your spouse or child.

    (See "Should I switch from Eldershield to CareShield Life?")


    #2 Hospital Income Protect

    Hospital Income Protect by Allianz

    Pros

  • Daily hospitalisation cash benefit for up to 750 days
  • Doubled daily hospitalisation cash benefit if hospitalised in intensive care unit (ICU)
  • Infectious disease benefit for 6 specified diseases
  • No claim bonus on premiums for each year without a claim

  • Ambulance or transport fee if relevant
  • Entry for plans available up to age 60
  • Cons

  • Premiums may be slightly higher to accommodate the more comprehensive benefits offered
  • Coverage not available for those under age 18
  • Only 50% of the Daily Hospital Cash benefit is payable if you reside outside of Singapore for more than 90 consecutive days
  • Pick this if... you want comprehensive hospital coverage that gives daily hospitalisation benefit for a longer period of time. Also suitable for individuals between the ages of 51 to 60.


    May not be suitable for: those under age 18 or those who are uncomfortable with the slightly higher premiums needed.

    Similar to Hospital CashPlus, Allianz’s Hospital Income Protect also provides a daily cash benefit in the event that you are hospitalised. However, Hospital Income Protect has a higher overall limit with the daily hospitalisation cash benefit payable for up to 750 days. Additionally, Hospital Income Protect offers an Infectious Disease benefit that covers for 6 specified diseases. This includes diseases such as Dengue and Hand Foot and Mouth Disease (HFMD).

    One point to note is that the entry age for Hospital Income Protect plans is up to age 60. This allows older individuals who may be over the entry age of other plans to still get additional hospitalisation coverage with Allianz’s Hospital Income Protect.

    Coverage and premium table for Hospital Income Protect

    Silver Plan
    Gold Plan
    Platinum Plan
    Daily hospitalisation cash benefit (maximum 750 days)
    $100 per day
    $200 per day
    $300 per day
    Intensive Care Unit (ICU) daily hospitalisation cash benefit (maximum 90 days)
    $200 per day
    $400 per day
    $600 per day
    Recuperation cash benefit (maximum 30 days)
    $100 per day
    $200 per day
    $300 per day
    Medical and surgical expenses
    $1,000 per accident
    $2,000 per accident
    $3,000 per accident
    Ambulance / Transport fee
    $200 per accident
    $200 per accident
    $200 per accident
    Infectious disease benefit (for 6 specified illnesses)
    $200 per event
    $400 per event
    $600 per event
    Annual premiums for age 18 to 30
    $231.12
    $385.20
    $539.28
    Annual premiums for age 31 to 40
    $256.80
    $436.56
    $590.64
    Annual premiums for age 41 to 50
    $359.52
    $603.48
    $834.60
    Annual premiums for age 51 to 60
    $500.76
    $847.44
    $1,248.48
    Annual premiums for age 61 to 65 (renewals only)
    $564.96
    $950.16
    $1,348.20
    Annual premiums for age 66 to 70 (renewals only)
    $821.76
    $1,348.20
    $2,080.08

    (See "How much should I be spending on insurance for my child?")


    #3 International Health

    International Health by FWD Insurance

    Pros

  • Daily hospitalisation cash benefit
  • Worldwide coverage
  • Ideal for expats or foreigners living in Singapore
  • Plan is portable and can be brought overseas should you move or live abroad in future
  • Covers Covid-19 vaccination side effects for policies bought between 1 April to 30 June 2021
  • Doubled annual limit if you do not make any hospitalisation claims for 2 years
  • Maternity coverage covering pregnancy complications and includes the cost of your delivery and pre and post-natal visits
  • Dental and vision care coverage
  • Outpatient expenses coverage
  • Flexible – choose only the coverage you need for your plan
  • Can be purchased by those between the ages of 18 and 65
  • Cons

  • Premiums tend to be on the higher side
  • Promotion: Use promo code "IFAST" for 21% off your FWD International Health (IH) plan.

    Pick this if... you wish to supplement existing hospitalisation coverage or if you are a foreigner looking to obtain health insurance coverage in Singapore.


    May not be suitable for: Singaporeans and Permanent Residents (PRs) who do not frequently travel or live abroad

    FWD's International Health (IH) plan is a health insurance that can be customised to suit your needs. While premiums may be on the higher side, this plan offers comprehensive coverage (e.g. hospitalisation, outpatient, dental, and maternity) with the option to choose where you want coverage for (i.e. ASEAN, Asia, Worldwide excluding USA, or Worldwide including USA). The portability of FWD’s International Health plan also ensures that you can bring this health insurance along with you should you move or relocate to another country in future.

    With the portability of this plan and possibility of overseas coverage, FWD’s International Health is suitable to be used by two groups of individuals: Singaporeans who live abroad or frequently spend time overseas and/or foreigners who are living in Singapore (e.g. expats).

    Coverage and premium table for FWD International Health

    Annual limit
    $100,000
    $250,000
    $500,000
    $1,000,000
    Daily hospitalisation cash benefit
    $100, up to annual limit
    $100, up to annual limit
    $150, up to annual limit
    $150, up to annual limit
    Hospital accomodation
    Paid in full, up to annual limit
    Paid in full, up to annual limit
    Paid in full, up to annual limit
    Paid in full, up to annual limit
    Pre and Post hospitalisation treatment
    Up to 90 days
    Up to 90 days
    Up to 90 days
    Up to 90 days
    Hospital charges
    Paid in full, up to annual limit
    Paid in full, up to annual limit
    Paid in full, up to annual limit
    Paid in full, up to annual limit
    Worldwide emergency treatment
    Paid in full for accident; and up to $25,000 for illness
    Paid in full for accident; and up to $25,000 for illness
    Paid in full for accident; and up to $25,000 for illness
    Paid in full for accident; and up to $25,000 for illness
    Annual premiums for age 20
    $530.39
    $608.32
    $736.78
    $740.96
    Annual premiums for age 30
    $619.49
    $656.72
    $782.85
    $829.40
    Annual premiums for age 40
    $999.27
    $1003.93
    $1010.91
    $1069.09
    Annual premiums for age 50
    $1377.67
    $1393.03
    $1419.10
    $1478.68
    Annual premiums for age 50
    $2288.52
    $2305.74
    $2334.13
    $2420.23

    Annual premiums shown for inpatient plans for males with coverage selected for ASEAN region. Coverage can be chosen for ASEAN, Asia, Worldwide excluding USA, and Worldwide including USA. Additional premiums are required to add-on the optional outpatient cover, dental and vision cover, and maternity cover.


    Exclusive Promotion: Use promo code "IFAST" for 21% off your FWD International Health (IH) plan.

    (See "An Introduction To International Health Plans")


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