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Old 29-12-2017, 12:20 PM   #13
Mr.Canberra
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Join Date: May 2014
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Last time no Medishield Life so it is important to buy more term or life insurance. With the introduction of the compulsory Medishield Life you can even throw out term insurance coverage out of the window altogether.

If you are working for a company then you are already covered by medical insurance. This part already can save haha. Low level paying jobs will also have this work benefit.

The money saved use it for low risk investments such as defensive blue chip stocks or government bonds. Financial dummies can dump it into Fixed Deposits instead. Should any misfortune struck this sum of money can be utilised as your 'insurance payout'. If no misfortune happens till the day you pass away I believe deep in your heart you will go away peacefully knowing this sum of money is well planned and your next of kin will benefit from it.

Even till the day you pass away you will never get your hands on your Medisave. This sum of money is locked up forever until your next of kin inherit it. My Medisave is my 'insurance'.

If you have dependents then buy adequate life insurance but not overboard.

MediShield Life is a basic health insurance plan, administered by the Central Provident Fund (CPF) Board, which helps to pay for large hospital bills and selected costly outpatient treatments, such as dialysis and chemotherapy for cancer. MediShield Life coverage is sized for subsidised treatment in public hospitals.
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Last edited by Mr.Canberra; 29-12-2017 at 12:29 PM..
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