IncomeShield M Plans – Product Summary
The Ministry of Health has announced that MediShield benefits and premiums will be increased to provide better medical coverage for all Singapore citizens and Permanent Residents from 1 March 2013. Following the MediShield enhancements, NTUC Income’s IncomeShield plans, which sit on top of MediShield, will be revised.
Migration of IncomeShield MA and MB plans (upon renewal from 1 Mar 2013)
In addition to the changes resulting from the MediShield revisions, all IncomeShield MA and MB plans will be migrated to Standard IncomeShield Plan A and Plan B upon renewal, without underwriting. This decision is made in response to feedback from policyholders and Ministry of Health to increase medical coverage to better meet current and future health insurance needs.
This will raise the benefit limits in your policy and gives you better coverage within the ward class your policy applies to. It will also enable you to buy the Assist Rider, which will help minimise the hospital expenses which you need to pay. Please note that for the purchase of the Assist Rider, underwriting is required and premiums are payable by cash, cheque or GIRO only.
Meeting your financial needs
Subsequent to this migration, we will cease IncomeShield M plans. If you feel that the Standard IncomeShield Plan A or B does not fit your needs and budget, you can consider
choosing lower plans. If you choose to downgrade, please send in the IncomeShield M plan downgrade form. We will need to receive the form at least 2 weeks before the renewal date, for the downgrade to be effected at renewal.