Insurance
Are You Going to Burn $30,000 on Medical Insurance?
By Sethisfy  •  April 18, 2011
What is your answer to the question I pose to you in the title? It is the one burning question (pun intended) a person should ask him/herself before committing to a Shield policy. Does this mean I am against hospitalisation Shield policies? If you have been following my blog from my regrettable experience with my dad to the example of our Health Minister’s surgery, it is clear that I am a strong proponent of such medical insurance. So what do I mean by “burning $30,000 on medical insurance”? There are currently five insurers who provide integrated Medishield “Shield policies”. If a 25-year-old person is going to purchase a Shield policy for private ward coverage until he is 90, he can stand to pay as much as $30,000 more than he should over the years. It is worth noting that most of such policies command this high premium. What does this ......
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By Sethisfy
As an adult, I’ve been through many ups and downs in my career path and personal finance journey, not unlike many Singaporeans. From my years as a tied insurance agent turned independent financial adviser, I realised that there are very few sources of proper, unbiased financial advice for working adults to access. Worse, self-styled “financial consultants” are selling products like savings plans and ILPs to the detriment of the clients whose interests they were supposed to serve.
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