This article was written in collaboration with Prudential Singapore. All views expressed in this article are the independent opinion of DollarsAndSense.sg based on our research, are purely for informational purposes, and should not be relied upon as financial advice. DollarsAndSense.sg is not liable for any financial losses that may arise from any transactions, and readers are encouraged to do their own due diligence. You can view our full editorial policy here.
As medical fees and costs increase, health insurance becomes one of the more important components of our overall protection portfolio. In Singapore, we’re fortunate that MediShield Life provides a basic health plan that covers large medical expenses. MediShield Life is complemented by private integrated shield plans, like Prudential’s PRUShield, which provides more comprehensive medical coverage of up to $2 million for medical treatment, including comprehensive cancer treatment coverage.
Unfortunately, though, life doesn’t stop when our bodies need a break to recover. Imagine if you slipped at home and fractured your kneecap. You’ll need surgery and will probably be hospitalised for several days. While you’re in the hospital, the bills will still need to be paid, and even after you’re discharged, it doesn’t mean you’re ready to head back to work. A fractured kneecap can take three to six months to fully heal, and if you’re in a more active line of work, your income may be affected during this period.
In such situations, other types of insurance plans like hospital income insurance help to complement health insurance plans by providing you with a cash benefit for each day you are hospitalised, giving you peace of mind knowing you will have the extra income to pay for unforeseen expenses.
According to Dr. Sidharth Kachroo, Chief Health Officer, Prudential Singapore, “unplanned hospitalisations entail additional expenses which are challenging for primary breadwinners with dependents, self-employed individuals and freelancers without fixed income.”
Hospital income insurance plans complement your portfolio well. A typical hospital income policy includes four basic benefits:
#1 Daily Hospital Income Benefit
Most hospital income plans will give you a cash benefit for each day you are in the hospital. The exact amount will depend on the type of plan that you select.
For example, with Prudential’s PRUHospital Care360, you will be able to claim up to $300 per day of hospitalisation, for up to 500 days for each illness or injury.
#2 Daily Intensive Care Unit (ICU) Income Benefit
Should you need to be admitted to ICU, the same hospital income plan will typically also provide an additional payout, on top of your daily hospital income benefit.
Again, referencing the PRUHospital Care360 plan, you will be able to claim up to an additional $600 per day in the ICU, for up to 30 days for each illness or injury.
#3 Homecare Benefit
This is an additional lump-sum payout to cover time spent recuperating at home after hospitalisation. Typically, to qualify for this benefit, you will need to have been hospitalised for a few days.
PRUHospital Care360 pays out an additional lump sum of up to $600 for each hospitalisation, if at least 3 days of the Daily Hospital Income Benefit is payable.
#4 Day Surgery Benefit
Not every illness or injury requires you to stay overnight in the hospital. Sometimes they’re minor enough to only require day surgery. In such situations, instead of paying hospital income and homecare benefits, typical hospital income plans will provide a lump-sum amount to offset the costs of day surgery and aid with your recovery.
PRUHospital Care360 pays out a lump sum of up to $600 for each day surgery in a hospital that does not require hospitalisation.
What You Can Use The Hospital Income Insurance Payouts For
The payouts from hospital income plans can be used according to your needs. For example, you can use it to cover any out-of-pocket expenses for your hospitalisation, your daily expenses, or even subsidise the cost of non-medical expenses such as caregiver help.
This level of flexibility is why receiving cash payouts is preferable compared to being reimbursed for your daily expenses. Plus, if you’ve managed to keep your expenses low, then you can even save the remainder of the cash payouts in case of a future emergency.
While the PRUHospital Care360 plan offers these four basic benefits, it also goes one step further, extending even more coverage for the life assured under the policy, while keeping premiums affordable and within budget.
PRUHospital Care360 Extends Additional Coverage For Accidents And Infectious Diseases
For customers whose livelihoods depend on being active and meeting people, PRUHospital Care360 will give them the confidence that, should they need to be hospitalised due to illness or injury and are unable to work and earn an income, they can do so with peace of mind.
The PRUHospital Care360 plan also includes additional payouts for hospitalisation due to accidents or infectious diseases.
Daily Accidental Hospital Income Benefit
Accidents can happen at any time, from a minor everyday mishap to public transport accidents, to injuries sustained at school, work or play. Should an accident land you in hospital for 3 days or more, PRUHospital Care360 will pay you up to $300 more per day, for a maximum of 30 days for each injury. This is on top of what you already get from the Daily Hospital Income Benefit. This will not only help to pay for any out-of-pocket expenses but can also serve as an income replacement.
Daily Infectious Disease Hospital Income Benefit
Should you fall ill due to one of the 21 covered infectious diseases including dengue, hand, foot and mouth disease (HFMD), tuberculosis, mumps, and zika virus, and require hospitalisation, PRUHospital Care360 will pay you up to $150 more per day, for a maximum of 30 days for each infectious disease diagnosed. This is on top of what you already get from the Daily Hospital Income Benefit. Enjoy peace of mind while taking a short downtime to recover, using the additional payout to patch short-term gaps in your earnings.
Total Coverage From PRUHospital Care360
PRUHospital Care360 has three levels of coverage, depending on the plan type. Premiums for Plan 1 can be as low as $23.63 a month for those aged 16 to 30 (age next birthday).
The benefit table is as follows:
Source: Prudential Singapore
To see how the benefits work together, let’s take the example of Adam, a freelancer, who is diagnosed with a severe case of dengue fever. Persistent vomiting and abdominal pain led him to be treated in the ICU. Thankfully, he recovers after just 2 days and is moved to a general ward for the next 5 days before being discharged.
As Adam is covered by PRUHospital Care360 Plan 1, his total payout is as follows:
| PRUHospital Care360 Plan 1 | Benefits | Payout |
| Daily ICU Income Benefit | $200 per day x 2 days | $400 |
| Daily Hospital Income Benefit | $100 per day x 7 days (including 2 days in ICU) | $700 |
| Daily Infectious Disease Hospital Income Benefit | $50 per day x 7 days | $350 |
| Homecare Benefit | $200 lump sum | $200 |
| TOTAL | $1,650 |
Adam qualifies for the Homecare Benefit lump sum payout because at least 3 days of the Daily Hospital Income Benefit is payable.
PRUHospital Care360 Provides Access To Value-Added Services To Seamlessly Manage Your Health
PRUHospital Care360 policyholders are also eligible for additional benefits, including 15% off all Traditional Chinese Medicine (TCM) services at Thomson Chinese Medicine, as well as partner rates for teleconsultation, health screening, and vaccination packages at Prudential’s partner healthcare institutions.
This means that PRUHospital Care360 policyholders can consult a General Practitioner via teleconsultation from the comfort of their home or complement their medical treatment with TCM services.
Via the PRUaccess customer portal, they can also apply for a free preventive screening for diabetes, hypertension, and high cholesterol, as well as a free mental wellness assessment.
Dr Sidharth Kachroo added that “Healthcare extends beyond coverage, and it is also about enabling people to proactively manage their wellbeing. We offer easy and affordable access to health screening and vaccinations to support preventive care and ongoing health maintenance. This approach contributes to a healthier population, reduces long-term healthcare costs, and helps people live well for longer.”
The importance of a hospital income insurance plan like PRUHospital Care360 cannot be understated. Hospital income insurance plans are designed to provide financial support during unexpected hospital stays and the subsequent recovery period. With flexible cash payouts and additional income for hospital stays due to accident and infectious disease, PRUHospital Care360 ensures peace of mind even in the most unforeseen circumstances.
