Do You Need Short Term Health Insurance in Singapore?

When one thinks about health insurance plans, the general long-term policies come to mind but what about covering yourself with an extra layer of protection with short-term health insurances? Mostly, these short health insurances in Singapore are made for people who love traveling, adventures, etc. It is because the risk they undertake to cross every mountain and rivers but short-term insurances are not solely made for adventurers. You can also apply for this coverage without even traveling.

Short-term health insurance plans are also known as the temporary plans or the “gap plans.” The period for which you can buy these policies vary from one month to twelve months. These plans serve the similar purposes like covering your medical expenses at the hospital if you or your family member has been hospitalized, for medicines and other related costs. But the main difference with the standard health insurances is that you may not be able to buy short-term health insurances if you are already having some pre-existing health issues. Therefore, sometimes you get instant approval for purchasing the policy and some other time, if you have some health problems, you may not be able to get the approval.

There are possibilities that insurer may reject a policy or impose exclusions in the policy if you have pre-existing conditions. The insurer of these short-term policies even considers pregnancy, gestational diabetes as a pre-existing health issue. However, the coverage they provide otherwise is indeed sufficient and beneficial in various situations and the benefits are as follow:

  • These insurance policies can be completely customized. You can choose the cover you want and the duration as well.
  • As these plans are made for particular purposes, you can also choose the place where you want to get treated. You can provide them with the list of hospitals or medical care centers in the state or country and even outside the nation if you are using the insurance for traveling purposes.
  • Billing or reimbursement of the policy is straightforward as the insurer will directly pay for your medical expenses and you don’t have to play a role in You can take care of yourself and your family member whoever is sick without worrying about paying the bills as the insurer will take care of that part.
  • You can buy these plans any time and from any place or countries. The primary benefit is that the period can be extended even after twelve months.
  • The price or the premium you have to pay for the insurance policy will be according to the choices you have made in your insurance policy. It also varies according to the cover you have opted for.

Where to buy short-term health insurance policies?

You can buy this short-term health insurance plans from the online Singapore financial advisors as well as from the banks or the insurance companies after checking every single detail and the terms and conditions individually. You can talk about this plan with the financial advisors Singapore and they can guide you according to your specific requirements. You can also check the plans on the website of the reputable insurance firms in Singapore which offer short-term health insurances to get the idea and about the specific policies.

Why is it important?

Your general health insurance can cover the cost of medical expenses in your city but not in other state and apparently not in any other country whereas a short-term health policy can serve the purpose. While traveling for work or holiday, buying a short health insurance plan can save you from unnecessary expenditure on medical treatments from your pocket. Moreover, you might have less cash while traveling and if there is any medical emergency while you are in another country, how will you handle the situation? You can efficiently manage it if you have a customized short-term health insurance plan.

 

Five Rules to Improve Your Financial Health

Being the breadwinner for your family, you must be very concerned about the physical health of your kids, parents and spouse but are you concerned enough about the family’s financial health? You might be earning enough to give your loved ones a high standard of living but what about their future? Are you saving enough for the future as well? Planning your finance is as important as earning money in the present because the future is uncertain and if any misfortunate event happens, then you and your family might get into huge trouble. So here are five such rules which anyone can implement in their life to plan their finances in the right direction and for a better and financially secure future.

  1. Count the numbers (Budgeting): Money comes in your wallet with a lot of hard work and thus you must know where to spend it and that too rationally. Firstly, you must make a detailed analysis of all your assets liabilities to understand your net worth and this you should do at least once in a year with the help of Investment Planning Management Singapore. The second thing is to prepare a budget where you need to plan all your expenses for a week or a month. If there are any unnecessary expenses, you must cut that off as preparing for emergencies is mandatory and saving a percentage of your income as well.
  2. Check Lifestyle Inflation: One of the fundamental characteristics of a human being is increasing the standard of living with the increase in his income and that is not wrong. When you start spending on unnecessary things just to upgrade to a better lifestyle, it would cost you in times of financial crisis if you face any and after you retire from your work. The income of a person is uncertain to an extent as the market is fiercely competitive. This is why you need to save and invest in the present, equivalent to your consumption to maintain the same lifestyle in the times of financial trouble. It is easy to raise the standard of living when there is enough inflow of money (income), but it is immensely challenging to reduce the expenses even when salary starts decreasing.
  3. Differentiate between Needs and Wants: The basic needs of a person are home or shelter, food & clothing according to economics. But to generate the income for these three necessities, there are specific other needs as well like transportation, electricity, etc. Wants are the adjective attached to your needs like for transportation, you can avail public transport, which is your need but when you buy a car for the same that is what you wanted to have a better life. Now, to enhance your financial health for a better future, you need to understand and differentiate between your needs and desires. If your income supports buying a car and saving for the future at the same time, you can go for it, but if all your income is drained into paying the EMIs of the vehicle and you are not able to save, then you must check yourself before investing money on your wants.
  4. Save from an early age: The more time you get to save your money, the more it grows as the compounding factor plays a significant role in it. As the capital gets reinvested for a longer time, it gets compounded for more number of periods which increases your earnings and so your financial health develops. You can hire any Financial Planning Analyst Singapore to assist you with the relevant investment plans in which you can invest from an early age.
  5. Maintaining an Emergency Fund: Life is uncertain and so is your income. To support and increase your financial health you must include an emergency fund in your Investment Plan. This should be separate from your primary investments and savings as well as from your budget.

What to Consider Before Buying Any Insurance In Singapore?

Insurance Industry has been a major part of the financial sector, but most of the people misunderstood and undervalued this industry and its products. It has been observed over the years that insurance to most of the people is an optional financial instrument, but it should be another way around because it guarantees to provide one of the safest investment havens and can also protect you and your family’s financial need at the time of crisis. Due to various insurance agents who are not qualified enough to advise and fake insurance companies, the overall reputation of the industry has declined. Thus, you need to understand what you should look for while searching for the right insurance company and product in Singapore.

Know Your Singapore Financial Advisors

Before taking advice from any Singapore Financial Advisors, you need to know in which category of advisors they belong to. There are three types of Singapore Financial Advisors which include the independent Singapore Financial Advisor who work as freelancers or on their own. Then the Singapore Financial Advisor who works for the banks and finally the ones who work in the insurance companies who are also known as financial consultants or agents in the insurance industry.

While communicating with your Singapore Financial Advisor, try to go through their profile and qualification as that would help you understand whether they are capable enough to advise you on your financial needs. Every commercial agent in Singapore needs to clear three examinations to get their license for financial advisory services. The examinations are M5 which includes the “Rules and Regulations for Financial Advisory Services”, M8 includes the “Collective Investment Schemes” and M9 includes “Life Insurance and Investment-Linked Policies” as well as Health Insurance.  The second examination is not mandatory for all the agents but for them who sells the unit trusts in the country. So, whenever choosing a financial advisor, look whether he has cleared these examinations and years of experience.

There are other qualifications as well like PGI or Personal General Insurance, Commercial General Insurance or ComGI which the Singapore Financial Advisors should clear to have full access to sell the insurance products in the market. If your financial advisor doesn’t have these examinations cleared or the license, then you should be wary a little because the advisor you have chosen might not be fit to guide you with your investments.

Choose the products wisely and independently

The Singapore Financial Advisor is there to guide you about all the relevant products that suit your financial profile, but he or she cannot decide the right Insurance Plan on your behalf. It is you who need to check all the features of the plan compare it with other plans and then decide whether to buy the policy or not. There are agents who are just for the sake of selling insurance policies, manipulates the investors and the insurance buyers for buying some policies which are completely a mismatch for their financial requirements and profile. You need to dig deeper into the different aspects of the policy after taking a suggestion from the advisor and then decide independently whether to go for it or not.

Check the Claim Settlement Ratio

Claim Settlement Ratio is one of the key factors to judge the insurance company from which you are buying the insurance. It determines the number of policies that they have settled on the number of claims made by the policyholders. The higher, the better. You can get the details of the claim settlement ratios of different insurance companies on government’s official websites for insurance or on the individual company’s websites as well. You must go through at least last five years data to evaluate how the company has been dealing with the claims.

So, the next time you are buying an Insurance Plan, make sure you check the criteria mentioned above so that you make the most out of your investment.

Travel Insurance Is A Must For The Young Adults

Near about six to seven millions of international trips are made every year by the people across the globe but only twenty percent of the travelers purchase travel insurance and this is where a big mistake is committed. Travelling is fun, adventurous and full of experiences, but it can be painful if something during or after the holiday goes incredibly wrong and even cause life-threatening situations. For example, if your baggage with all your money gets robbed, then what would you do if you don’t have an insurance plan covering the loss? Most of the people who travel once in a year fall sick after traveling, thus incurring expenses on medical treatment just after spending lots of dollars during the vacation. This is where travel insurance will cover up all these costs and losses. For the young travelers who life is travelling to unknown landscapes and find out new adventures, travel insurance is indispensable.

Young adults are already pissed off with their parents who ask them to buy insurance and now reading this they might get more pissed off reasoning that travel insurance is a luxury for them but it is a necessity in fact as you don’t want unnecessary expenditure on medical costs, loss of luggage or cash, etc. In addition to this, young adult’s work can demand his presence anytime and thus he might need to cancel his flight to the exotic holiday location. But the airline company won’t reimburse the money if cancellation has been made after a period of time, but the insurance company will do if your policy has the same feature.

Things that travel insurance should cover are –

Personal Liability Clause: Travelling is an adventure for the young adults in most cases and accidents are part of being adventurous. It is a primary need of the young adults to cover up personal liability with the travel insurance they are purchasing so that they don’t need to incur expenditure in case of any mishap during the trip.

Cash Reimbursement Benefits: Most of the airline companies and the other transportation medium have stringent rules for cancellation of the journey. So, if you are canceling any flight, the probability of not getting the money back is more, and thus you incur a loss. But ensuring your trip with travel insurance, you can cover up at least some percentage of the loss that would incur. Almost all the travel insurance companies have this option which you need to choose with your plan to get cash reimbursement on cancellation of flight or another transportation fare.

Medical Cost reimbursement: One of the most shared and vital benefits of buying the travel insurance is to protect your health and expenses while traveling. While on the move to different countries and land, you might get unwell because of the change in weather and other issues. There are hardly any traveling companies who would help within medical condition outside their city or area thus you need your travel company to back you up in such situation. Moreover, after holidaying, you have already spent a lot of amounts and you might not want to spend more on medical treatment from your pocket as that would disturb your budget which is why travel insurance is there to curtail your health treatment expenditure if you fall sick during or after travel.

Protection for baggage and personal stuff: For a while, think all your luggage have been lost in transit and you are only left with your cell phone and little cash in your wallet, what would you do in a distant land away from your home? Panicked, right? But if you have a backing of a travel insurance company, you could get reimbursement for the purchase of new clothes and other personal items which you would require during the trip. Even if you get your stuff back, the travel insurance will reimburse the money spent on thing bought in an emergency, isn’t that great?

 

Trump’s Health Care Policy – Changes in the Obama Care Plan

The election of Donald Trump was kind of a shock to the whole world as hardly anyone expected him to win the election and secure the position of the president of America. He is a businessman, twitching the rules of the presidency in the country and one of such twist came in the way of the health care policy implemented by Obama.

While under Obama care system, it was mandatory for the residents of the country to have health insurance coverage but Trump took a dig at the policy and made certain changes. The point which has been raised by Trump is that medical insurance or health insurance coverage cannot be done as a mandate for the society and its people, rather the health insurance policies should be affordable and reliable so that every citizen can buy them.

The five major changes that Trump has proposed in the Obama care plan are as follows:

  1. Trump would like to extend the medical benefits without any bias to the Americans with pre-existing conditions. He wants to ensure that every citizen has access to the health care policies without any prohibition on the people who have already diagnosed with certain diseases. The provision for people with a pre-existing condition was different under Obama care but under Trump’s rule and Affordable Care Act, (ACA), the insurer cannot discriminate between the person who has no health issues and someone with pre-existing health problem. The insurer should have to sell the policy at the same premium to the customers with pre-existing conditions. If there is any increase in the premiums, then there are also chances of penalizing the insurer. One thing that as an individual you need to keep in mind is that you need to maintain coverage continuously to come under this benefit.
  2. The second thought of Trump’s administration of health care policy is that they should help the citizens to choose their plans according to their tax credits and the Expanded Health Savings Accounts (EHSA). The Trump’s administration has agreed on developing the medical savings accounts of its citizens.
  3. Under the ACA, it has been proposed that the federal government will share the cost of insurance for the poor in the country along with the state government. The federal government issues money according to the requirement of each state’s medical care, and that is what the patients under Medicaid receive. Under former president, the amount was fixed for each state without any proportion of Medicaid requirement. The federal government has extended the care to the low income group adults who don’t have any child yet, and this is almost covering the entire cost of insuring the low income group.
  4. People who earn less than $48000 per annum receive subsidies which they can buy health insurance policies. To be eligible, they also need to be covered under health care marketplace. The grant a person is entitled to will be according to his or her income level and the cost of insurance will be according to the area he or she resides. There is no system of rebate under the current federal government system; it is directly applied to the monthly bills of insurance of the customers.
  5. The health insurances under the healthcare market place have certain basic coverage for medical treatment in hospital, mental health and drugs prescribed by authorized doctors. One can compare the different policies and buy the one which is most suitable for their need and if they are not covered under any employer insurance, they can get the similar benefit by purchasing the insurance on their own.

Trump’s administration has made it mandatory that if one is not buying health insurance, then they need to pay a tax penalty.

Insurance Protection Plans For Young Adults

The first job you grab right out of your college sets you free from many boundaries, but it is also a sign that now it is time to take responsibilities. Responsibilities don’t only mean taking care and supporting your parents, but you should be taking care of yourself at the first place. In various surveys, it is found that millennial and the young adults are not aware of the importance of having insurance protection plans especially the life and the health insurance covers as they think, insurance is for old age. However, in reality, the day you become self sufficient is the day you need to start caring for your life more as other lives are depending on you and so insurance covers are necessary from this age.

How young adults overlook on insurance protection plans?

The young population aged between 18 to 29 years has been found to be the most uninsured population of any country. This population believes that there can never be any mishap or even health issues with them and thus they ignore the insurance protection plans which have enormous benefits if bought at this age. They overlook the chances of accidental death or severe to chronic diseases that can affect any one at any age which can leave them disabled or unproductive. Getting a job is no security at any point in time as there is such a huge competition out there. So, the young adults are not at all in a safe financial position if they are not insured.

You might lose your job tomorrow if you don’t perform well, will you go back to your parent for supporting you or would it be better to have a protection plan which covers the days of unemployment so that you can search for a better paying job with peace of mind?

Being young and adult at the same time is little complicated as you have responsibilities in hand but you are not that mature to handle them well. Having an insurance plan which secures your health and medical treatment can relief you and your aging parents from a major financial setback in case of any acute health problems arise.

Buying insurances when you are old is a myth in reality as life is uncertain and might require life insurance or health insurance just after few years of your employment. If you don’t have one, then your family would suffer a lot as when income grows, expenses increase similarly. If there is a significant blow to the revenue side, it’s hard to cut down the costs and a lower standard of living within a day.

If you have a life insurance cover, then you are protected against loss of income in case of your unfortunate death or permanent disability. Your family can get regular income to run the home; your child’s education won’t suffer if you are married with a child. If you have any debts, your family doesn’t have to worry about paying it off as the insurance plan can cover it as well if you add those specifications in your policy.

Health insurance plans can protect against medical expenses on various diseases, treatment cost, ambulance charges, medicine charges and related costs as mentioned in the policy. It can also be used for yearly or monthly checkups to have a better and healthy lifestyle.

Why should you be Buying Insurance at the beginning of your career?

When you are getting into a new venture of your life, don’t you want to feel secure financially? You should buy insurance protection plan for a feel that security. You should also buy it as the premiums would be less when you are younger and have no or little health problems, and the life risk is lower. Parents should always influence their children who are now young and have been trying to make something of their own to have insurance protection plans so that the whole family can lead a financially secure life.

How Does Brexit Affect The World Economy And Financial Markets?

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Brexit which separated the UK from EU came as a shock to the whole world and the financial markets across the globe. Not only in EU or UK was taken away by the decision, it took few weeks for it to get back on the track. The financial market was surprised and became violent for covering up their losses or the potential losses which could arise from this Brexit. The nations across the globe which are an active participant in the globalization and global market got affected in various ways. The geopolitical uncertainty had taken on every country and financial market during those months.

The macroeconomic situation soon after Brexit was terrible, but it smoothened with time. The sharp fall in the EU and UK currencies against US dollars affected the nations in the sector of export and import.

Brexit along with Trump’s election was a blow to the head of the world economies. The US market faced several issues regarding the manufacturing sector as the USD grew stronger against US pounds and EU currencies.

After the EU and UK separation, there is no road map which they are following, or other nations are navigating through. There is a chaotic situation as the major two countries, US and UK have the most troubled geopolitical situation.

Since the EU and the UK markets are volatile at the moment, the investors are looking for a safe-haven. That safety has been provided by the US markets especially the treasury markets, and thus there is a continuous decrease in the interest rates in the US markets as well as their currency value is increasing against UK currencies which are in turn putting further pressure.

Not only US but a major portion of the investments from the UK and EU investors are getting diverted to the Japanese markets as they are providing real interest rates on the investments. Moreover, the higher value of the dollar and the yen have an adverse impact on the export sector of their economies only which in turn is affecting the world economy at large. This negative consequence is changing the difference between the steady inflation and sharp deflation in the service sector and goods sector respectively.

The Chinese market is stuck between these two super powers – EU and the US, thus it is getting pressurized by the US to lower its value of the Yuan so that the US can take the benefit.

Coming back to the financial markets across the globe, the effect of Brexit was huge as $2 trillion of money was lost on the day of the vote for Brexit, 23rd June 2016. On the whole, 2016 faced various issues and the markets were sluggish. Since this blow was massive, the markets are still recovering from it.

The British pound fell sharply to 31 years low in just a day as the money was getting withdrawn and investors were putting them in the government bonds to be on the safer haven. Due to the fear of the British vote, the market shifted to safe regions all of a sudden making massive losses for the world economy.

The IMF after Brexit cut down the growth forecast by 0.1% and the global growth forecast now stands at 3.4% for October 2017. For the upcoming year, 2018, the forecast is at 3.6% provided everything goes smooth and there are no significant geopolitical events like this.

The strength of the global economy will be the emerging markets for the coming years and the growth of the emerging markets will grow the world economy as a whole. The trades and manufacturing sectors will grow stronger in the emerging market adding to the potential of the global platform which is going to smoothen the world economic condition.

Singapore – Third Largest Financial Hub in the World

Within only fifty years of independence, Singapore has become one of the top three financial hubs in the world. The first two being London and New York, Singapore has pushed Hong Kong down the list of the top financial hub and secured the third position. Singapore’s financial market is regarded as one of the most competitive financial markets across the globe. In the Opportunity Index of PWC, this country ranked 2nd, and on Deloitte’s list of top wealth management centres, it ranked 6th. Singapore has emerged as one of the principal markets for the investors and the financiers across the world within such a short duration.

Tracking the History

Singapore is blessed with a strategic location on the map of the world which helps in the robust growth of this country. Back in 1819, when the British Government formed East India Company, Singapore became the major port for trade between these two nations – Britain and India. Because of this business activity from an early time, Singapore has become a crucial part of the world for companies which helped it emerge as the third largest financial market in 2016. Financial services are directly linked to trade and businesses in a country, and due to the emergence of bulk trading through Singapore, its financial institutes developed soon and started expanding. The need for finance in trade and shipping of goods is inevitable, whereby insurance is mandatory for shipping products. This made the banking and the insurance sector to grow rapidly.

After independence, the Singapore government made a systematic and more planned approach to build the financial sector more robust and dynamic. The time zone of Singapore made provision of filling the gap of trading hours in the world which helped in the establishment of the Asian Dollar Market (ADM) in the year 1968. It helped the capital market to grow rapidly and also influence the growth of the industries in the country by the constant flow of money.

The current scenario

According to the GFCI or Global Financial Centres Index rankings, Singapore has surpassed its major competitor Hong Kong to be the third most dynamic financial centre in the world. The report was released last year in 2016. Fintech and blockchains technology is pushing the growth of the financial market in most of the major centres like in New York as well as in Singapore. Singapore is the major hub for trading crypto-currency in Asia at present. The surge in the price of crypto-currency pushed the growth of the financial institutions in Singapore way forth. The financial institutes are incorporating the blockchains technology well in their system to make more profit.

The capital market of this country has enormous depth, and the liquidity of the market helps the investors a lot which further attracts more investors across the world. Almost 800 companies are registered on the stock exchange of Singapore and made the foreign currency market very strong due to the trade between various countries.

Singapore is a major place for the banking sector as well. There are more than 120 banks out of which five banks are local banks and rest is of foreign origin. The banking industry not only influenced the trade and businesses of the country but also take part in other financial activities as well as economic events which are necessary for the country’s economic growth.

Singapore is the most prominent asset management hub in Asia. With almost S$2.5 trillion invested in these asset management companies in Singapore, this sector grows almost at a rate of 9-10%. There are nearly 270 asset and fund management companies in Singapore making the financial sector much stronger.

In Singapore, every industry under financial hub is strong enough and has huge depth. The institutional investors across the world invest in the market of Singapore due to this market depth as well as the profit margins are really higher than rest of the most financial centres across the world.

 

Insurance Policy As A Gift For Your Loved Ones

Buying a gift has always been a tough job for most of the people. One needs to take care of many factors in buying a gift such as whether the person is fond of that product or whether he or she would find the gift useful, at times the budget plays a big role too.

You must have heard from many of your friends that they sometimes run out of gift ideas and maybe you are in the same situation now. But have you ever thought of gifting an insurance policy to your loved ones? You might be a little shocked right now, isn’t it? You might be thinking why one would gift an insurance policy to someone because the recipient won’t be able to take any benefit out of the policy at present. Think a little deeper and you really want to gift something which is worth your love towards your loved ones, then nothing can match an insurance policy.

Why should you gift an insurance policy?

Is it your child’s birthday? Are you done with buying all the gifts for him? Wait, what you would pray on his birthday? Good health, education, and prosperity, isn’t it? But is praying enough on his birthday and gifting him some toys or giving him a certain amount of cash will be enough to secure his future? A big no! If you really want him to be financially secure, highly educated and blessed with good health, you must make arrangements for the same. Buying him a medical insurance or child’s educational insurance might not make him that happy at present but it will actually make his life secure in the absence of you. He will realize the value of that insurance which you are gifting him today when he would need it.

How about gifting a joint life policy on your best friend’s marriage? You must be completely in love with your best friend and you want all the happiness for her or him, so why not put all that thought in an envelope where you present them with the documents of the insurance you bought for them. You can buy a single premium policy where you need to pay the premium at one go and not annually.

Single premium policies are best when it comes to gifting an insurance policy to someone like close friends, relatives etc. You need to pay the premium at once and then you can just take it off your mind. When the insurance will reach its maturity, the insured person will get its benefit.

We always love to see our parents healthy and happy and with your first salary, you can gift them a health insurance policy because when you start earning they reach an age when health issues crop up. It will secure their future and will give you a peace of mind.

Gifts are always special and when you put your thoughts and concern with the gift, it becomes really thoughtful and portrays your care and concern for that person. Insurance is a financial product that everyone requires at some point in their life. Presenting an insurance policy during the special events of one’s life is making their upcoming life more beautiful and secure.

Which insurance should you gift?

If you have made your mind that you will gift insurance policy then the next step is to decide the type of insurance policy. You must analyze the need of the person you are going to gift the policy if he or she is a child, and then you can gift them a policy related to higher educational benefit.

If you are presenting it to some elderly person, Medical or health insurances might be the best choices. If it is for your better half, surprise him/her with a joint life policy which would also include medicle claim benefits.

Insurance as a gift might be a little rare but it is surely one of the best and meaningful gifts you can present to your loved ones.

What Is A Medical Insurance And Its Its Benefits?

It is natural to be protective and caring about our loved ones and we all do that, thus providing them with the right medical insurance is also very important. In today’s fast moving world, we don’t have enough time or do not make enough effort to take care of our health and that is why there is a rise in health problems across the nation. We do not want to compromise on medical treatments for financial reasons do we?

The fast lifestyle along with inadequate sleep and excessive level of stress is making this generation more prone to diseases. As the head of the family, it is your duty to take care of every member by protecting yourself and everyone at home with medical insurance.

What Costs Do Medical Insurance covers?

Hospitalization costs including cost of ward, medication, doctor’s fees and attendant’s charges and any medical tests related to the diagnosis are covered. Most insurers cover some period before and after the hospitalization period. Prudential covers 180 days before and 365 days after the date of discharge. It sounds like a very good deal doesn’t it?

Medical Insurance

Just like your life insurance covers the financial need of your family after the demise of the breadwinner of the family, a medical insurance is to provide financial support for medical treatments.

Medical insurance helps especially during the difficult times when you are in the need of financial support where medical attention is required. If you research a little over the internet, you can see the drastic change in the price of medical treatment over the past few years.

With the improvement of the medical science and technology, the price of medical treatment is also increasing rapidly. To receive the best treatment for yourself and loved ones, you will need to spend a lot of money.

When one is admitted to a hospital especially for major ailments, apart from getting the best possible treatments, the next important thing is to arrange for the required amount by the hospital.

Medical insurance helps to reimburse majority if not all, the costs of medical treatments along with other hospital charges. As compared to the full amount for the treatments you have to pay, the premiums for a medical insurance plan is really negligible. Singaporeans and PRs can pay the bulk of it through their medisave account, doesn’t this give you a better reason to act now if you haven’t?

Importance Of Medical Insurance

Good Medical treatments come with a price but with medical insurance, you are assured that the finances will be taken care of. It will not only give you the mental stability but also assure a smooth medical treatment of yours and your loved ones. Nothing matters more than health as the saying goes, Health is Wealth. We must at all times to our best ability to take care of our health and also plan for back-up plans should something happens, that is to have a medical insurance plan.