Health insurance
My mother-in-law recently got admitted into a public hospital for an operation and was warded in a subsidized Class B2 ward. For the past few days, she had been complaining about being unwell and in acute pain. On a few occasions, we informed the nurses about this but they appeared nonchalant and were not helpful at all. It was indeed a frustrating experience but it also vindicated my decision to upgrade my family’s health insurance to private medical shields since last year.
The follow-up appointment was an even worse experience. We waited for 7 hours before the doctor’s consultation. The nurse was also very rough in her handling and caused a lot of discomfort for my mother-in-law.
When Singapore government rolled out the Medishield Life in 2015, many Singaporeans assume that there is no need for private medical shield plans. After all, the coverage of the new Medishield Life seems comprehensive, covers everyone and protects you for lifetime.
So why waste money on upgrading your health insurance to private medical shield plans? But then again, not many people realize the gaps that exist in the system.
Firstly, since Medishield Life [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
You may sign up to become a member of SG Wealth Builder. The full benefits and privileges of SG Wealth Builder Membership:
- Access to the latest premium articles of SG Wealth Builder
- Email notifications of latest blog articles
- Request for coverage on stocks, insurance and other personal financial topics
- Comment in articles
- Participate in campaigns
- Future network opportunities
Monthly Subscription Plan
You may sign up for the monthly subscription for only $19.99 per month! You can choose to cancel the subscription after one month with no penalty.
This plan is ideal for readers who wish to try out SG Wealth Builder Membership for a limited time. Thereafter, you may choose to upgrade to Lifetime Membership for a one-off payment. Email me ([email protected]) to find out more about the Lifetime Membership.
Note: After payment is made, you will be prompted with registration form to create your user-id and personal password.
[wlm_paypalps_btn name=”SG Wealth Builder (Monthly Recurring)” sku=”0E2C0C62C0″ btn=”pp_pay:l”]
private health insurance was always a comforting factor in the possible event of illness .however the companyies have introduced restrictions on the risk they will payout .eg the policies specify different types of heart problems and cancers that they will pay but should you a health problem that is not specified you have no cover .some of the companies now insist on seeing your family health history and then they will tailor a policy to limit risks on any family health problems .beware
Hi John,
Indeed it is important to get insured when you are in the pink of your health. Otherwise no insurance companies would accept your application because you are deemed as high risk to them. As for checking the family health history, I guess this is part of their risk management. After all, cancer is on the rise in Singapore. Probably they want to limit their liabilities as well.
Nonetheless, very good point you have raised. I would take note of that in my wealth journey!
Regards,
Gerald
https://www.sgwealthbuilder.com