Hospitalization Insurance Singapore
Uncovered Myths About Hospitalization Insurance Singapore
As compared to other countries, healthcare in Singapore comes at a premium price. For Permanent residents (PR) and citizens a hospitalization insurance plan can help in subsidizing medical fees for hospital accommodation and even medical treatment. Though foreigners do not qualify for this, they can plan on opting for a basic coverage for health insurance. Some organizations allow employees to be partially covered by a health insurance policy in a group.
Types of Healthcare offered in Singapore:
You find public and private healthcare in Singapore. Opting for the best hospitalization insurance plan Singapore can help in tiding over any health problems faced. Government- run hospitals and polyclinics is one option which can work out affordable as the cost is much lower as compared to private run hospitals. The hassles are the long waiting time when a government-run clinic is opted for.
Private health insurance companies offer a co-payment scheme along with a deductible, where you need to make a payment of a minimum specified amount before starting any treatment or you can also pay off a part of the medical fees while the insurance company pays off the rest.
Some private insurance policies limit the coverage for healthcare to a specific list of clinics.
Information on Best hospitalization Insurance Singapore:
Hospitalization Insurance Singapore is classified into several categories.
*Hospital Cash Insurance
*Medical expense insurance
*Disability income insurance
*Critical illness insurance
*Long term care insurance.
It is essential for the residents of Singapore to plan for a specific best hospitalization insurance plan Singapore as the hospital fees can mount up to thousands of dollars each time. A specific policy should be able to cover hospital stay in a ward which is shared including the consultation, surgery and medicines.
The loss of income while recuperating can be recovered from the hospital cash policy. For the long term, the critical illness insurance, or the disability insurance or the long term illness insurance can help you.
Uncovered Myths about Hospitalization Insurance Singapore:
C1 is difficult to claim:
Fact 1: Similar to any insurance policy the pay outs by C1 are subject to the conditions being fulfilled.
Opting for the best hospitalization insurance plan Singapore is definitely a wise decision and can help you save on major finances. There are many Singaporeans harboring misconceptions about CI insurance that it is tough to make a claim which is successful. There are times when you hear that the CI claims have been rejected and this definitely leads to disappointment and anger.
You need to be aware that CI, like other insurance policies, is bound by specific conditions and it is important to ensure that these conditions are totally fulfilled. It is only then that the claim will be accepted and paid for.
Some reasons for the rejection of claims are
*Not submitting the medical documents which are required
*Not meeting the definitions of the policy
*Not declaring the conditions which are already existing or not mentioning the lifestyle activities that can invalidate the claim.
C1 takes long to pay:
Fact: The C1 claim is paid on the very next day with Singapore Life:
Most of those not opting for the C1 do so as they feel that C1 takes forever to make the payments. Understanding the anxiety of the patient and the family of having to wait for the claim to be passed, you have Singapore Life a best hospitalization insurance plan Singapore claim termed as ‘Next Day Critical Illness claim’ which tends to process the claim on the very next working day. This is a sure way for getting the support you require for the needs.
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