By: Wilfred Ling
Did anyone see today’s Sunday Times about a father whose medisave of $30,000 was wiped out when his daughter was diagnose with ovarian cancer? I really pity the family. The family admitted that they should have bought medical insurance. I calculated, that with $30,000 the interest generated a year is 4% x 30000 = $1,200. Based on an annual premium of $144.14 of an as-charged medical insurance for private hospital, that interest can pay for 1200/144.14 = 8 children !