My humble view on Health & Life insurance

[henrylbh]

The thing about starting young is that there's less chance of having pre-existing conditions that will be excluded from coverage.

This one I agree.

 

[naro]

The thing about starting young is that there's less chance of having pre-existing conditions that will be excluded from coverage.

yup.. that's right.

I paid beared about 40% of hospitalisation expenses when my spouse incurred about 70k on first round of cancer. That's for class B1 only. That time no such thing as rider for medishield plan A, without counting cost for relapse years later.

Now I cover myself with rider and hell I am throwing $1.4 in annual premium and I am afraid whether I could afford when the premium reaches $4 to $6 when I need the coverage most.

yes, its experiences like these that makes one worry about medical costs. i've got relatives who had already chalked up more than 300k from the surgery and the subsequent chemo treatments.

 

[naro]

It took me almost an hour to settle a bill at ME. In the end I got fed up and told the counter I am walking out cause the nite before I had already sign a blank credit card slip.

Worst is I felt idiotic going to the private hospital. But no choice cause the patient wanted ME.

how long was the queue time to see the doctor?

 

[henrylbh]

how long was the queue time to see the doctor?

Q and registration about half hour but about 1 hour before doctor arrived as it was 10 plus in the nite.

Cost 3k plus when discharged next morning at 10am. If go government, I believe it will cost lesser than half.

 

[phategunner]

Terryhoho,

You have lots of mistakes in your first post.

MC's case is general insurance, it's not life insurance.

We can be healthy today, but we don't know what's gonna happen tomorrow. The odds of staying healthy is still high, insurance is just looking at the odds what if we are not anymore.

If I know when things will happen, I will buy my health insurance 1-2 years before it happens, whack on term plan on death or anything 1-2 years before it happens. The problem is "I don't".

I don't care if I don't get to claim my insurance because this is a good thing. I am still alive and kicking and healthy. BUT what if I need to claim and yet I don't have insurance. I am better off paying some money (premium) for a piece of mind than getting worried about having no money when ****s happen.

So, I rather pay more for a local brand that will definitely pay its policyholder than a cheaper one whom I don't know if they will still exist a few years later.

Small claims are easy to do, even smaller insurers will pay out the claim. The issue is when big claim comes, this is when pattern can be more than badminton. (you see it a few times in the news)

Ignorance is bliss, people buy insurance only after a few kinds of experiences.
1. people buy because they need the protection (still rare)
2. people buy after people close to them are experiencing pains, one of the pain is financial pain because they don't have insurance
3. people buy after seeing how people benefit from insurance and then understand why insurance is important
4. pressured to buy from agents (good or bad, depends)

Again, in your mind right now, there is only an accident stay in hospital. There will be nothing, maybe an accident once every 5 years in the future for you.

Personally, after seeing both my parents, my brother, my nephew getting into hospital, after seeing the bill, it will be well worth it to have insurances.

I don't care if my clients don't get to do any claim because they are healthy and sound, but it matters they get their claim when necessary.

Being a young horn, agents do feel good because their clients buy insurance and get to claim. Friends getting cysts growth on face, getting ACL tored in soccer game, friend's mother getting gall stone and undergoing more checks right now, death claim paid out of orphans aged 17 & 19, etc.

Many may think a comprehensive shield plan is enough, sure, maybe. Though we know that it works by reimbursing the bills, there is a need to pay the bill first. If we have no money, how to pay first? This is why coverage on CI is still important, maybe not for income replacement, but at least to create a cash flow for the payment.

These are just some of the random points in my head now. For yourself, please get yourself min a comprehensive shield plan on B or A ward, which costs less than $200 cash a year for now. SAF Aviva term plan with CI rider just because they are cheap.

Good luck.

Agree mostly.

However you need to be updated on the latest integrated shield plans. 0 deposits and no need to pay the bills. Everything handled by back end. I had two clients that were warded in the past month, both bills about 12k.

 

[IronMac]

How many can afford the premiums to cover millions in health care especially as one grows older?

At least the insurance company takes the hit(s) early on.