Shield Plan with NCD?!
In a nutshell, Prudential is gonna roll out a different pricing structure for their Private Hospital tier Shield plan rider. It's a mouthful, but that's what it is.
If you are healthy, 10% NCD on the rider.
If you sick af, 200% premium increase.
Personally, I like the idea of implementing some sort of pricing element as a way to counter moral hazard, but the pricing seems absolutely retarded.
Get a slighttttttttt discount if you are healthy. Get screwed if you're not.
I don't know, doesn't sound too good to me imo.
I personally would rather see all the insurers to have a co-pay option like Prudential or NTUC.
(Link to super long post about co-pay vs no-pay Shield riders)
Actually my dream would be to have a stripped down no-frills rider like AXA Basic Care, but with a co-pay flavour.
Anyway, I'm in the midst of finalizing and wrapping my switch from NTUC to AXA. Hopefully I can post an insurance update soon!