PRESENTED BY
TAKE CONTROL:
STAY ONE STEP AHEAD
OF UNEXPECTED
MEDICAL BILLS
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With high levels of cancer coverage, Income Insurance’s Enhanced IncomeShield helps you and your family build a more robust financial safety net, so you can focus on recovery.
Many of us take our health for granted, but when a serious illness like cancer strikes, life can change in an instant. Beyond the physical and emotional toll, unexpected medical expenses often add another layer of stress.
Earlier this year, it was reported that hospital bills have increased by 5 per cent annually in public hospitals, and by 7 per cent annually in private hospitals over the past few years.
For those who are unprepared or sandwiched between caring for both children and elderly parents, these unexpected costs can quickly become overwhelming.
WHY YOU SHOULD CONSIDER INCREASING YOUR HEALTH COVERAGE
Opting for Class A or B1 wards, or private hospital care, means that MediShield Life covers only a small portion of the bill, leaving the rest to be paid using MediSave and/or cash.
This is where more comprehensive health insurance coverage, such as Income Insurance’s Enhanced IncomeShield, can provide an additional layer of protection. It helps reduce out-of-pocket expenses for private or unsubsidised medical treatments, offering financial relief during illness and recovery.
Here is how Enhanced IncomeShield fills the gaps. For example:
- High levels of cancer coverage
- Individuals may receive up to 23 times1 the MediShield Life claim limit each month for outpatient treatments2 listed on the Ministry of Health’s Cancer Drug List for one primary cancer.
- Coverage of up to S$250,000 is available for cell, tissue and gene therapy3, as well as up to S$100,000 for proton beam therapy4, for each policy year with the Enhanced Preferred and Enhanced Advantage plans.
- Higher claim limits for multiple primary cancers
- Insured individuals may benefit from higher claim limits when receiving outpatient treatments for multiple primary cancers under the Cancer Drug Treatment Benefit2 and Cancer Drug Services Benefit5.
- High annual medical treatment limit
- The Enhanced Preferred plan offers a limit of up to S$1.5 million for medical treatment in each policy year.
- Peace of mind knowing your claims history will not affect future premiums
- An individual’s claims history will not affect future premiums, regardless of whether numerous claims have been made or none at all.
HOW ENHANCED COVERAGE PROTECTS YOU AND YOUR FAMILY
Despite cancer becoming increasingly common, a recent study shows that nearly half (43 per cent) of Singaporeans feel financially unprepared if diagnosed with the disease. About one in three (32 per cent) also expressed concerns about the cost of cancer care and how it might influence their decisions to delay or receive treatment.
For parents, juggling the day-to-day demands of caring for children and elderly dependents can be challenging. When a serious illness occurs, knowing that you have financial protection against overwhelming medical costs ensures you are not weighed down at a time when the focus should be on recovery.
Similarly, for young adults, securing adequate health coverage is important as you begin your career and start a family. After all, illnesses can arise unexpectedly, regardless of age. For example, compared to older age groups, cancer incidence rates have increased more rapidly among adults under 40. Those between 30 and 39 have seen the greatest rise since 2008 and 2012, according to data from the Singapore Cancer Registry Annual Report 2022.
Enhanced IncomeShield offers coverage with no lifetime limit6, helping ease potential financial concerns for you and your loved ones if the unexpected happens. In addition, as-charged coverage for selected benefits7 helps manage the costs incurred, including pre- and post-hospitalisation8 coverage for up to 180 days and 365 days respectively.
Ultimately, while no one knows when a serious illness might occur, being well-prepared will help you and your loved ones face challenges with greater confidence.
IS IT TIME TO REVIEW YOUR HEALTH INSURANCE?
1. Review your current coverage. Does it meet your family’s needs for hospital stays and treatments?
2. Talk to an insurance advisor to understand the coverage and premiums that suit you best.
3. Choose the right plan for your budget and needs.
You can also chat online or meet with an Income advisor for personalised guidance. New to Enhanced IncomeShield? Enjoy 20 per cent* off your first-year premium when you sign up today.
*Discount does not apply to the premium for the MediShield Life portion. Welcome Discount Ts&Cs apply.
GET MORE OUT OF YOUR HEALTH INSURANCE
Curious about better hospitalisation coverage with Enhanced IncomeShield?
FIND OUT MOREImportant notes from Income Insurance
1 Enhanced IncomeShield covers 5x MediShield Life (MSHL) Limit and 18x MSHL Limit for one primary cancer when you add a Deluxe Care or Classic Care rider to your Enhanced Preferred or Enhanced Advantage plan.
2 This benefit covers the main outpatient hospital treatment received by the insured from a hospital or a licensed medical centre or clinic. For cancer drug treatment, only cancer drug treatments listed on the Cancer Drug List (CDL) and used according to the indications for the cancer drugs, as specified in the CDL on Ministry of Health (MOH) website (go.gov.sg/moh-cancerdruglist) will be covered. For each primary cancer, if the cancer drug treatment on the CDL involves more than one drug, we allow a particular drug to be removed from the treatment or replaced with another drug on the CDL that has the indication ‘for cancer treatment’, only if this is due to intolerance or contraindications (for example, allergic reactions). In such cases, the claim limit of the original cancer drug treatment on the CDL will apply.
For each primary cancer, if more than one cancer drug treatment is administered in a month, the following will apply.
- If any of the cancer drug treatments that are on the CDL have an indication that states ‘monotherapy’, only the treatments on the CDL that have the indication ‘for cancer treatment’ will be covered in that month.
- If none of the cancer drug treatments that are on the CDL has an indication that states ‘monotherapy’:
- if more than one of the cancer drug treatments administered in a month has an indication other than ‘for cancer treatment’, only cancer drug treatments that are on the CDL and have the indication ‘for cancer treatment’ will be covered in that month.
- if one or none of the cancer drug treatments administered in a month has an indication other than ‘for cancer treatment’, all cancer drug treatments that are on the CDL will be covered in that month.
Cancer drug treatments not on the CDL will be considered as having an indication other than ‘for cancer treatment’.
For cancer drug treatment on the CDL, the benefit limit for a plan is a multiple of the MSHL Limit for the specific cancer drug treatment. The latest MSHL limits are shown under “MediShield Life Claim Limit per month” in the CDL on MOH’s website (go.gov.sg/moh-cancerdruglist). MOH may update these limits from time to time. The revised list will apply to the cancer drug treatment administered on and after the date the revised list comes into effect.
3 Cell, tissue and gene therapy benefit pays for inpatient hospital treatment (including day surgery) and outpatient hospital treatment for cell, tissue and gene therapy provided to the insured, as long as the following conditions are met.
- The cell, tissue and gene therapy is approved by MOH and the Health Sciences Authority (HSA).
- The registered medical practitioner recommends in writing that the insured needs the cell, tissue and gene therapy for necessary medical treatment, according to the relevant guidelines from MOH.
4 We will only cover the proton beam therapy if it is administered for a MOH-approved proton beam therapy indication (that is, MOH has approved the therapy for the insured’s condition) and the insured meets the eligibility criteria for proton beam therapy under MSHL. The proton beam therapy indications and the eligibility criteria are set out on MOH’s website (go.gov.sg/pbt-approved-indications). MOH may update these from time to time.
5 For cancer drug services, it covers services that are part of any outpatient cancer drug treatment, such as consultations, scans, lab investigations, preparing and administering the cancer drug, supportive-care drugs and blood transfusions. It does not cover services provided before the insured is diagnosed with cancer or after the cancer drug treatment has ended.
The cancer drug services benefit limit is based on a multiple of the MSHL Limit for cancer drug services. For the latest MSHL Limit for cancer drug services, refer to “Cancer Drug Services” under the MSHL benefits on MOH’s website (go.gov.sg/mshlbenefits). MOH may update this from time to time. The revised limit will be applicable to the cancer drug services incurred within the policy year of the revised limit.
6 Subject to policy year limits and any benefit limits.
7 We will reimburse you for the eligible hospitalisation cost you have incurred, subject to deductible, co-insurance, admission of ward class, benefit limits, and any other policy terms (including exclusions).
8 Pre-hospitalisation and post-hospitalisation treatment are not covered for treatment given before or after inpatient psychiatric treatment, accident inpatient dental treatment or emergency overseas treatment. We do not cover pre-hospitalisation and post-hospitalisation treatment if, under the policy, we do not pay for the inpatient hospital treatment received during the stay in the hospital. Post-hospitalisation treatment, such as medication bought during a period of post-hospitalisation treatment but not used during that period, is not covered.
If the inpatient hospital treatment is provided by our panel and paid for under the Enhanced IncomeShield Preferred plan, we will cover the cost of medical treatment the insured received in the policy year for up to 180 days before the date they went into hospital and up to 365 days after the date they left the hospital.
Please refer to the policy conditions for further details.
Enhanced IncomeShield is available as a MediSave-approved Integrated Shield Plan for the insured who is a Singapore Citizen or a Singapore Permanent Resident. This applies as long as the insured meets the eligibility conditions under MediShield Life. If the insured is a foreigner who has an eligible valid pass with a foreign identification number (FIN), Enhanced IncomeShield is not available as an Integrated Shield Plan.
This is for general information only and does not constitute an offer, recommendation, solicitation, or advice to buy or sell any product(s). You can find the usual terms, conditions and exclusions of this plan at income.com.sg/enhanced-incomeshield-policy-conditions.pdf, income.com.sg/deluxe-care-rider-policy-conditions.pdf and income.com.sg/classic-care-rider-policy-conditions.pdf . All our products are developed to benefit our customers but not all may be suitable for your specific needs. You should speak to a qualified insurance advisor before you purchase any product. Otherwise, you may end up buying a plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. If you find that this plan is not suitable after purchasing it, you may terminate it within the free-look period and obtain a refund of the premiums paid.
Protected up to specified limits by SDIC.
Information is correct as at January 1, 2025.
