PLEASE Get INSURED WHILE You’re HEALTHY and YOUNG

Dear reader

I want to share with you the following story.

I found out today that a friend was recently diagnosed with cancer of the brain. He is in his late 40s and he’d spent most of his adult life being the sole care-giver of his mother. He did freelance work every now and then. But most of the time, he was a full-time care-giver. His mother was wheel-chair bound and she needed someone to take care of her daily needs. Even though he had several  domestic helpers, they couldn’t help him much either.

As a filial son, he made the sacrifice and had forgo the freedom that most of us take for granted. The freedom to live your life on your own terms and to chase your dreams. How will your parents’ aging affect your plans? Seriously, in the event of such a scenario, what will you do? Do you have siblings that will share the costs and obligations of taking care of your parents? Seriously, think about this.   How prepared are you and your siblings?

After his mother passed away earlier this year, he found that he kept having dizzy spells and all the medicine won’t make the dizzy spells go away. After a series of medical tests such as MRI and finally, after extracting the spinal fluid, the doctor diagnosed that it’s the advanced stage of brain cancer which had affected his spine as well. The doctor said he might have only 2 years’ left.

3 months into the chemotherapy and radiotherapy, his total medical bills add up to $50,000 already and he needs to continue to seek medical treatment. Thankfully, his brother is willing to take care of him and help him pay for the medical bills.

Sadly this man didn’t get insurance when he was younger. The sad thing is when he did apply for medical insurance this year, it was a month before he was diagnosed with cancer. So his application is invalid as his cancer is a pre-existing condition.

So my friends, please get insured while you’re young and healthy. The premiums are affordable. The longer you postpone getting insurance, the MORE premiums you’ll pay for the entire policy.

Plus you’ll be taking chances, so the HIGHER risk that you may not be able to get insured b’cos none of us can guarantee our health. We’ll only incur medical problems as we age. Even young people can have high cholesterol levels or high blood pressure.

This real-life case is to remind us that life is uncertain. Insurance is the only tool in the financial market that help us prepare and manage the financial risk against major unforeseen events such as death, TPD and Critical illness.

e.g. For dread disease, you’ll need CASH to seek medical treatments that can easily escalate to hundreds of thousands of dollars. If you’ve insurance, the cash is already there to help you tide over this period financially so that you’ve the peace of mind to recover quickly.

Email me your questions at clairemh.soh@gmail.com or call Claire at 81685479 today to look into your insurance needs.

Best Regards

Claire Soh

Disclaimer:

The above information is strictly for general information only and is not be construed as an offer or solicitation to deal in any fund, nor a recommendation to invest in any company mentioned herein.

The information contained in this blog is not intended to constitute individual investment advice and is not designed to meet your personal financial situation.

Consult your financial consultant before you make any decisions.

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