This type of insurance can be bought using our Medisave money which is good news for us if we do not want to fork out any cash. God bless the kid and his family.
Tuesday, 21 June 2011
Hospital & Surgical Insurance
Recently, one of my colleague showed me a hospital bill claim for his client's son. Client's son (7years old) was playing at home running around like what kids usually do. Maid was mopping the floor. The poor kid fell and hit his head and was later hospitalised and pronounced brain-dead after surgery. I was so shocked to hear that the 1st month bill amounts to $117,985.13. It was a very unfortunate event but client was quite lucky to have bought an enhanced medishield plan from my colleague so all his son's hospital bills are covered.
This type of insurance can be bought using our Medisave money which is good news for us if we do not want to fork out any cash. God bless the kid and his family.
This type of insurance can be bought using our Medisave money which is good news for us if we do not want to fork out any cash. God bless the kid and his family.
Tuesday, 17 May 2011
Why buy Insurance?
The other day, one of my colleagues asked me this question.
Have you ever wonder why people buy insurance?
He said insurance is CRAP!!! People have to pay a sum of money every month or year (Very painful right?). It has to be long term (more than 15years usually) before their insurance policies breakeven and if they stop paying halfway, they either lose all their money or a significant portion which they paid throughout the years. The best way to enjoy the benfits of insurance is through sickness, pain or death. But who wants to suffer from sickness and pain? Who wants to die? I dont know about you but I definitely dont want these to happen to me. But does anyone have the ability to stop all these from coming? Nope.
My next question is: Since insurance is so crappy, why do people still buy it? Ask yourself this. What makes you buy the health insurance your insurance agent told you to? Why do you want to set aside a couple of hundreds every month into life insurance when you could jolly well splurge it on some new shoes, new dresses or a good meal?
Two simple reasons: Love & Responsiblility
Thats the two most common reasons I get when I ask this question.
Because we know that our family will be taken care of should anything unfortunate happens to us. Because we dont want to be a burden to our love ones. Because we know that we cannot afford the heavy hospital bills. Because we dont want to jeopardise our retirement plans for unexpected illness. Because of these, we are willing to set aside 10-20% of their income for insurance. Painful but necessary.
I am sure that unless you are a selfish, insensitive person who doesnt really care, you will want your family to live in dignity instead of charity should something happens to you. You want to make sure that when you are gone, your children education will not be affected and your spouse dont need to work extra hard by taking up another job to keep up with bills. You want to make sure that there is always food in the fridge and they are able to carry on with their lifestyle just the same way before you are gone. Because you love your family and understand that your responsiblity does not end even when you are gone, that is why you made a commitment to buy insurance.
Anyway feel free to comment (so that I know you guys are reading it) or drop me an email @ lawrenceho@advisorsclique.com.sg. Thanks for reading.
Have you ever wonder why people buy insurance?
He said insurance is CRAP!!! People have to pay a sum of money every month or year (Very painful right?). It has to be long term (more than 15years usually) before their insurance policies breakeven and if they stop paying halfway, they either lose all their money or a significant portion which they paid throughout the years. The best way to enjoy the benfits of insurance is through sickness, pain or death. But who wants to suffer from sickness and pain? Who wants to die? I dont know about you but I definitely dont want these to happen to me. But does anyone have the ability to stop all these from coming? Nope.
My next question is: Since insurance is so crappy, why do people still buy it? Ask yourself this. What makes you buy the health insurance your insurance agent told you to? Why do you want to set aside a couple of hundreds every month into life insurance when you could jolly well splurge it on some new shoes, new dresses or a good meal?
Two simple reasons: Love & Responsiblility
Thats the two most common reasons I get when I ask this question.
Because we know that our family will be taken care of should anything unfortunate happens to us. Because we dont want to be a burden to our love ones. Because we know that we cannot afford the heavy hospital bills. Because we dont want to jeopardise our retirement plans for unexpected illness. Because of these, we are willing to set aside 10-20% of their income for insurance. Painful but necessary.
I am sure that unless you are a selfish, insensitive person who doesnt really care, you will want your family to live in dignity instead of charity should something happens to you. You want to make sure that when you are gone, your children education will not be affected and your spouse dont need to work extra hard by taking up another job to keep up with bills. You want to make sure that there is always food in the fridge and they are able to carry on with their lifestyle just the same way before you are gone. Because you love your family and understand that your responsiblity does not end even when you are gone, that is why you made a commitment to buy insurance.
Anyway feel free to comment (so that I know you guys are reading it) or drop me an email @ lawrenceho@advisorsclique.com.sg. Thanks for reading.
Hello everyone!!!
Hi everyone, my name is Lawrence. I stay in a beautiful country, Singapore. This is my first blog entry so I'm gonna keep it short. Just a brief introduction of myself. I am 27 this year (not exactly young or old, depends on which age group you fall into) and I m working as a finanical consultant in Great Eastern. I have my share of experience in different industries like property, construction, banking etc.
Many of my friends asked me why I joined insurance since I am doing so well in other industries too. Reason is simple. Sense of fulfilment for helping people realise their financial goals and earning a decent living at the same time. I believe everyone has their role to play in this world we live in and the world will never be the same because of the things we do, the decision we made and the dreams we pursue.
Why did I actually start this blog? I want to reach out to as many people as possible using the power of internet, not to sell insurance to any of you but to create awareness. You dont need to be my friend or client but I still want to share what I know with you. Because you make a difference for your family when you decide to sit down with your financial planner and work something out.
Anyway feel free to leave comments and ask me any questions with regards to insurance. If you feel that it is too personal, you can also drop me a email at lawrenceho@advisorsclique.com.sg.
Many of my friends asked me why I joined insurance since I am doing so well in other industries too. Reason is simple. Sense of fulfilment for helping people realise their financial goals and earning a decent living at the same time. I believe everyone has their role to play in this world we live in and the world will never be the same because of the things we do, the decision we made and the dreams we pursue.
Why did I actually start this blog? I want to reach out to as many people as possible using the power of internet, not to sell insurance to any of you but to create awareness. You dont need to be my friend or client but I still want to share what I know with you. Because you make a difference for your family when you decide to sit down with your financial planner and work something out.
Anyway feel free to leave comments and ask me any questions with regards to insurance. If you feel that it is too personal, you can also drop me a email at lawrenceho@advisorsclique.com.sg.
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