欣。雨。: Some insurance knowledge

Work at TFL has intensified these 2 months and I have not been able to blog as much as I would love to. So happy to finally have the time to blog! Thank you to all who have been checking back! And thank you too to readers who made time to leave a comment on my Formspring or TFL email, telling me that you are readers of my blog & would like to see me blog more regularly! Although I'm unsure what you gals like about my blog, 我還是覺得你們很貼心！=D

I rarely read the news. There is no TV at home, we don't subscribe to papers and I don't check Channel News Asia website. Last Sunday at Conrad's Oscars Cafe, I was reading the Sunday Times provided and would really like to share this piece of news with all of you.

Remember me blogging about hospitalisation insurance for my dad?

I think this news article can help those who are deciding on health insurance for yourself & your parents and readers who are unsure what such plans are about.

When we first stepped into the working world, most of us will be thinking about insurance for ourselves. But it's equally crucial to plan for our parents too. Many of them probably never have an active insurance plan for themselves. Maybe they have terminated theirs so that they can have one less commitment to fret about while bringing us up.

Everyone of us will get really sick at one point or another. For some of us, it comes early. For others, it comes later. We just never know when and how.

From my dad's experience, the bills have been a 5-figure sum for each of his hospitalisation & ops, in a span of 7 years. Imagine when it's 2 parents or this scenario repeated in shorter intervals.

And it's very heartbreaking when you can't afford the best possible treatment and a more comfortable hospital ward for your parents. Doesn't apply if you have no heart to speak of.

I'm sorry the lighting at Oscar Cafe was yellowish & dim, hence the poor quality in the photo. You can click on the photo for a larger view.

The Sunday Times Published on Feb 27, 2012

Easing the Pain of Medical Bills

A round-up of different policies which offer protection in times of emergencies

By Magdalen Ng

Copyright © 2011 Singapore Press Holdings. All rights reserved.

The axiom 'health is wealth' is a cliche, but true nevertheless when you consider rising medical costs. It is equally true that health insurance is a must, but most of us need much reminding. Singaporeans are all too aware of how debilitating illnesses can be for the pocket.

An AIA Healthy Living Index Survey last year found that 28 per cent of Singaporeans polled say that "not having to use savings for medical treatment" is a key motivator for leading a healthy life.

About 40 percent did not want to rely on others.

However, the high expenses can also be a barrier to better health. 84 percent of the respondents agreed they would go for more frequent health checks if these were cheaper.

It is better to buy health insurance at a younger age, especially if you are young & healthy.

Many health insurance products preclude people with existing conditions, illnesses or disabilities and some policies are unavailable to those over a certain age.

Before buying health insurance, check if your employer offers portable health plans. If it does not, the coverage you enjoy while employed ceases once you leave the company. If the plan is not portable, it is advisable to buy your own.

There are three basic categories of health insurance needs.

Hospitalisation & surgical

This will protect your finances when you are admitted to hospital so you will be able to cover your medical costs through reimbursements.

For such plans, the total benefit is limited to the actual expense incurred so there is no need to buy extra policies. You will not be able to claim twice.