If you are looking for a hospital medical insurance, AXA shield is worth considering.
Read till the end to see the NEW example on claim.
3 strong points of the AXA shield coverage
1) AXA shield offers VERY GOOD pre-hospitalisation and post-hospitalisation reimbursements
Pre-hospitalization and post-hospitalization coverage is one of the most crucial use of IP plan to you.
In the event that you require an operation, there will likely be extensive medication and consultation required for the next few months.
Often, such outpatient medical treatment can run up to tens of thousands of dollars.
Usually, it is payable only by cash.
Upgrading to any integrated shield plan (ISP) will allow you reimbursement for it and these benefits are NOT INCLUDED into the Standard IP plans or medishield life.
Attached is a comparison table for “Number of days for pre-hospitalisation and post-hospitalisation claims” offered by each insurer.
And AXA shield ranks behind only AIA healthshield.
*Tip: If you are hospitalised, keep all bills and memos relating to the hospitalisation for future insurance application.
For pre-hospitalisation and post-hospitalization, claims for reimbursement is usually done manually, you may need to submit the original bill to the insurer.
2) AXA shield offers A GOOD Letter Of Guarantee limit (LOG)
Currently, all the existing insurers have tied up with most hospitals in Singapore to produce a “Letter Of Guarantee”(LOG) to state that you are insured in the event that you are hospitalized.
This LOG allows hospitals to waive off deposits you may need to make to them. The current practice is a limit of $10,000 to this LOG.
AXA has raised the bar by having this limit set at $15,000 for public hospitals.
New enhancements to AXA shield from Sep18
For referred inpatient cases from their panel of specialist (in partnership with Fullerton Health), they can offer up to $1,000,000 limit for their LOG.
This means that if you (insured under AXA shield) require a major operation estimated to be $50,000, the AXA LOG can potentially waive off ALL deposits required for the operation unlike other insurers.
However, do note that under AXA shield, do note that there will be NO letter of guarantee (LOG) issued if go to a private hospital without firstly being referred by AXA’s panel of clinic.
The 24/7 Hotline at 6-DIAL-AXA (6-3425-292)
3) AXA shield offers value added services for specialist clinic.
This is especially useful if you don’t have a corporate wellness benefit which is typically offered in an MNC.
There are 400 specialist clinics. Prices are:
(i)Specialist standard consultation at S$100 per consultation
(ii)Follow-up standard consultation at S$70 per consultation
You can also enjoy preferential rates if you are referred by our panel laboratory if you need to do a diagnostic laboratory investigations.
4) AXA shield allows you to ALA-Carte your riders to reduce premiums
Unlike other insurers which bundle multiple benefits into their riders, AXA shield riders can be chosen “Ala-carte”.
I recommended to use only the “Basic Care Rider” just to cover co-insurance and deductibles to save on premiums.
There is a monthly premium mode if you prefer.
There will be no hospital cash benefits with basic care rider.
If you are keen, you can add that on with other riders.
Quick tip from our experience with AXA shield
Their track record for processing seems to be still in the teething phase and I’ve seen hiccups. But overall still ok.
AXA shield premium rates are not guaranteed (just as all other IP plans) and insurers have been raising premium.
While you can get higher benefits with a slightly cheaper premium with AXA shield, it is important to consider carefully before switching over.
New claims experience. This claim was for an infant.
The speed of settlement was commendable. Discharge on 29dec18 and 11Jan19 reimbursement made.
If you are looking for a plan for your newborn, then consider strongly on the AXA shield.
I have found favourable terms for their “Inpatient Congenital Benefits” applicable to a newborn.
Currently, AXA shield only has a 365day waiting period before benefits are “as charged”.
This is better than PRU/AVIVA/NTUC Income which imposes a 24 month waiting period.
GE Supremehealth has an up to $20,000 benefit limit for the first 730 days after application.
AIA healthshield stands out in this aspect as practicing a NO waiting period for new borns (i.e.: fully as charged once plan is accepted).
Note also that AXA shield is not available for foreigners currently.
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