Personal Finance
Expensive medical bill
By Tan Kin Lian  •  February 27, 2011
Many people are worried that they have to incur big medical expenses, especially when they grow old. They are afraid that their savings will not be enough to pay the medical bills. Here are some points for you to consider:
  • No matter how much money you have, it will not be enough for your medical bills. Remember, a wealthy family spent $26 million for cancer treatment. It did not help - the patient died.
  • You only need $30,000 for your medical bill after retirement, provided that you are willing to be treated in a subsidized ward and you have Medishield. This is sufficient for Medishield and the co-payments.
  • You should not waste you money on expensive treatment that is likely to be unsuccessful. You have to let nature take its course.
  • If you are very rich, it is all right to spend a lot of money on medical bills. If ...
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By Tan Kin Lian
Mr Tan Kin Lian (fomer NTUC Income CEO) started his insurance career in 1966 in a local life insurance company. He has also worked in various positions as a computer programmer, organisation and methods officer and consulting actuary. Mr Tan writes daily in his blog. The information in his blog is transparent and has an open approach.
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