Are you protected enough in singapore ? (insurance)

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thea pantow
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Are you protected enough in singapore ? (insurance)

Post by thea pantow » Wed, 01 Oct 2008 11:10 pm

I think any one Wants To Live With Complete Peace of Mind, specially who are living with their family.

As you know in Singapore for Foreigner getting sick is very expensive.

I have friend who is foreigner was fever and hospitalized for 2 weeks in Mt E and another 2 weeks in Gleaneagles, total costs S$100k.

he was diognased Hystoplasmosis by doctor and went to ICU in gleaneagles, 1st day in ICU take costs S$20k.

So how about you ? did you have enough cover in your policy ?specially for critical illness cover ?

2 weeks ago I met my friend with her family, they said they have insurance cover enough for their family, after I saw their policy, all the policy are Link Insurance that's mean more in the investment side and with the little portion of protection.

then I told my friend, Im so sorry to let you know, you didn't have enough protection, if something happen with your husband as a sole breatwinner, you and your son have a big problem, currently your family have high risk condition stage.

my friend was surprised , she never thought if she has no protection enough, she thought she owned policy as a protection cover.

actually, this condition are very common for anyone, its happened to me before, after I study more about insurance then now I better understand about insurance

any one have experience about insurance ?

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durain
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Post by durain » Thu, 02 Oct 2008 6:19 am

yeah, i need insurance. so what should i do?

thea pantow
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Post by thea pantow » Thu, 02 Oct 2008 8:06 am

If you need insurance, you have to go to the right agent, because my opinion all the product from all Insurance company are same even the company modified with many names and structure, the difference only how their agent serve you with the right solution.

the important is you have to find the good agent, agent will be advise you what kind of product that suitable for your needs.

I believe many agent in singapore have a good job, because that I know not easy to be an agent in Singapore, many thing they have to learn and assesment .

Edited by moderator to remove solicitation.

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Post by durain » Thu, 02 Oct 2008 8:26 am

so siapa good agent? your kawan bagus tak? AIG tak bagus? if awak kawan is an agent, then apa pasar you asking about insurance?

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Post by thea pantow » Thu, 02 Oct 2008 8:59 am

durain wrote:so siapa good agent? your kawan bagus tak? AIG tak bagus? if awak kawan is an agent, then apa pasar you asking about insurance?

Hi Durain,

In the topic of insurance, I just want to share what I feeling, many people didn't aware of their policy and their protection, that's also happened to me before, when my father passed away in 2006 then from that I know insurance is the basic fondation in our family.

Its very very hurt your heart when something happen with your family then you can't do anything, if my father knows it will be happen to him, Im sure he bought insurance from long time ago, I m sure my father also very sad if he know when he was in hospital because of his cancer, then me and my brother have to run anywhere looking for money immediately, to pay his bill and medicine.

I love very much my father, I learn much from his condition, and I didn't want it will be happen to me, so that's reason why I want to know more about insurance and help people open their mind to see the important of insurance.

I understand from your replied that you need insurance, I just want to help you, to introduce you to somebody, but if you think you don't want my help is fine, as I said many agent in singapore are a good agent.

Im sure you can find your agent by your self to help and serve you.

thanks

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Post by Thaiclan » Fri, 03 Oct 2008 7:52 pm

Finding insurance for my family in Singapore was akin to pulling out teeth! Why do all agents insist on a home visit? It is so labourious and old fashioned. All we want is a quote so we can compare policies, yet all the agents want to take up so much of your time - we don't need home visits!
Also term insurance here seems to be unheard of. The last quote I got was 12 times the price of an average UK insurance company. I asked again and again "are you SURE this is for term and NOT Life insurance"??
I suppose it must be the extya competition in the insurance markets in the UK and the US that makes their policies so much easier to book, transparent and cheaper too.

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Post by alanwisley » Fri, 10 Oct 2008 12:19 am

I have to admit that medical bills in Singapore is really high. That is the reason why foreigners here are advised to have a medical insurance and if possible cover themselves globally so that they can be covered even if they are overseas from Singapore.

Insurance agents in Singapore will need to be certified by the MAS. Looking a professional agent will be a different matter as a professional insurance agent will need to conduct a needs analysis for their clients before recommending the right polices to be purchase base on the needs of the clients.

At such, if there is anyone who needs advise, you may post your questions in the forum and i believed that there will be some professional insurance agent in the forum that will be able to answer your queries.

thea pantow
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Post by thea pantow » Fri, 10 Oct 2008 12:31 am

yes, as an expat, we have to take care of our medical costs, that I understand inflation of medical cost is higher than global inflation.

So ..., before I go to do Investment, I would like to ensure my financial health, no one can guarantee if they can have good health condition forever.

the important we have to aware of our insurance policy, then its mean you aware of your family also.

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Post by sundaymorningstaple » Fri, 10 Oct 2008 12:47 am

tic.....toc.....tic.....toc.....tic.......

It's coming, it's coming. I can smell it! [-o< :devil:
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by alanwisley » Fri, 10 Oct 2008 12:50 am

Medical coverage is very important as no one knows what is going to happen to our body or even our love ones the next moment. I have personally experience when i am in overseas working. Although the medical bills is not that expensive, i still feel the pinch. Thinking back, luckily i am well covered for my medical bill globally and well enough, i am able to claim the fees when i am back i Singapore.

That is something which i feel please of the decision i made when i purchase my medical insurance.

Term insurance is relatively cheap in Singapore for the local but i believed if a foreigner were to purchase it, there might be a loading over it. At such, you might need to check out with the financial planner before any decision is made.

The most important thing for an expats to consider in any insurance product is whether the products fulfill the needs.

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Post by joannaminer » Fri, 10 Oct 2008 1:27 am

Hi

I know of an insurance plan to cover world wide hospitalisation for expats.

Yes INCLUDING hospitalisation at expensive spots like Mount Elizabeth Hospital.



For more info, u can email me <deleted>

Any more solicitations and you will be locked and deleted

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durain
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Post by durain » Fri, 10 Oct 2008 1:36 am

common, spill it out. why have to email you? is it AIG?

thea pantow
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Post by thea pantow » Fri, 10 Oct 2008 7:00 am

durain wrote:common, spill it out. why have to email you? is it AIG?

as I know insurance company are not only AIG, in singapore many Insurance company as Manulife, Prudential etc.

Let AIG settle their problem, its not related with our discussion here.

one more thing, no one asked you to email somebody here, hopefully you can understand, in this forum, I just want to share the good and the important of Insurance between us as expat in Singapore.

We are not singaporean, so we have to take care of ourself in singapore, who has responsibility of us if not ourself ? specially if we living with our children in singapore, who will be helping us if we didn't help our self ?

so if you have any bad or good experience, pls share with us, so we can learn from your experience.

thea pantow
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Post by thea pantow » Fri, 10 Oct 2008 7:25 am

alanwisley wrote:Medical coverage is very important as no one knows what is going to happen to our body or even our love ones the next moment. I have personally experience when i am in overseas working. Although the medical bills is not that expensive, i still feel the pinch. Thinking back, luckily i am well covered for my medical bill globally and well enough, i am able to claim the fees when i am back i Singapore.

That is something which i feel please of the decision i made when i purchase my medical insurance.

Term insurance is relatively cheap in Singapore for the local but i believed if a foreigner were to purchase it, there might be a loading over it. At such, you might need to check out with the financial planner before any decision is made.

The most important thing for an expats to consider in any insurance product is whether the products fulfill the needs.

Hi Allan, thank you for sharing, I also have my own medical Insurance but I m still not confidence yet with my policy, is it the best medical insurance or not. Im still browsing to gather information looking the best with Higher lifetime coverage, and coverage overseas and the important also without co-insurrance and deductible.

and I also have 2 policy term insurance for my criticall illness up to age 70 years and disability up to 65 years, quiite cheap but there some regulation for pure expat not PR.

But a few days before, I was browsing internet, then I think I also have to buy whole life policy, because information that I get from internet said, the different term and whole life are likes we buy a house with mortgage, pay installment but the house we can do anything because the house is own by us (Whole life) then for term as like we rent a house from landord pay monthly but we can't do anything with the house because the house is not own by us, so anytime the landord can do anything example asking higher rental fee.

I will make portfolio of my insurance policy, part in term for cover my production age, and buy whole life for cover my retire age.

that is just my idea for my needs.

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