Prudential Singapore has launched PRUShield EasySwitch so Shield Plan policyholders from other insurers can seamlessly switch to Prudential’s PRUShield policies and riders.
PRUShield is Prudential’s Medisave-approved IP which offers comprehensive medical coverage on top of MediShield Life, Singapore’s national health insurance scheme. It offers customers benefits such as minimised out-of-pocket expenses and comprehensive cancer treatment coverage, affordable plans tailored for different budgets, as well as value-added services to improve the overall hospitalisation experience.
From 1 September 2023 to 31 December 2023, eligible individuals will only need to answer three health questions instead of undergoing the underwriting process from scratch and completing the full health questionnaire.
Eligible customers are Singaporeans and Permanent Residents or foreign residents who are:
- 50 years old or below
- with an existing in-force Shield Plan with any other Integrated Shield Plan (IP) insurer. This includes IP providing coverage to Singaporeans or Permanent Residents, and Shield Plan providing coverage to foreigners.
- able to provide the Cover Start Date and the Certificate of Life Assurance for their existing in-force Shield Plan
- able to fulfil the three health questions
If their PRUShield EasySwitch application is accepted, the inception date of their existing Shield policy will be recognised for their new PRUShield policy. Prudential will take into consideration the date of inception of the Shield policy with the existing insurer as the policy inception date with Prudential, and all benefits and the claims assessment process will also apply accordingly. It also means that for conditions where waiting periods are usually applicable, such waiting periods will now be waived, subject to the duration of the previous policy.
Customers are subjected to the following waiting period from inception date of the previous insurer’s policy:
- PRUShield Plus and Premier policy holders: Serious pregnancy and delivery related complications – 10 months, Congenital Abnormalities for a female Life Assured’s biological child – 10 months, Congenital Abnormalities of the Life Assured (as charged) – 24 months, and Living organ donor transplant – 24 months.
- PRUShield Standard policy holders: Serious pregnancy and delivery related complications – 10 months.
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