Can you depend on Employer Medical Plan?

I always believe that Shield Plan (or PMI ) is an important backup, even if one is provided with benefit from the employer.

I received a call last week for advice about a claim for some one (not my client) whose father was warded in TTSH with Stroke.

He has Enchanced Incomeshield Plan Basic with Plus Rider, and a company medical insurance benefit.

On Monday, I was contacted again that the company forget to renew the policy and unfortunately this man suffered a stroke.

It is fortunate that the daughter has insured him under Enhanced Incomeshield Plan Basic with Plus Rider two months back.

Imagine if this person has no Incomeshield, the impact will be huge. Stroke patient needs long stay to stabilise condition and if bad enough, may be a month or two months in hospital and then after, transfer to community hospital for rehabilitation treatment.

My advice is look at Shield Plan ( PMI ) as a backup because reason is more obvious now.

1. Small company or if the administrator forget to renew, insurer will stay by that and policy lapse. In this case, Policy is only one day late in renewal and this man is excluded. Which insurer? Not Ntuc Income. But his Incomeshield now covers his stay.

2. If one is down with serious illness, after some time, if there is no recovery or lost the capacity to work, one may be medically board out from employment, does one has a plan to back up? It will be too late then to consider any plan as insurer will not take in such substandard case by then. I always say that if we are healthy, which we all wish to be, we just pay donation to this plan.

All I can advice and advice is please have a Shield Plan in place.