An unexpected trip to the hospital can prove to be costly, especially if you are not adequately covered under insurance. Be prepared for such health scares by securing the right protection in just 4 steps.
Step #1 – Get what you need
Is there a history of a particular illness or disease among your extended family? This might indicate a genetic predisposition – a higher-than-average likelihood of you suffering from that health condition as well.
Aside from your genes, some of your habits may also put you at a higher risk of having health issues. These include smoking, drinking, and leading a sedentary lifestyle.
After taking these considerations into account, you should decide on an insurance policy that provides you with the right amount and type of coverage to meet your individual needs.
If you already have a medical history prior to purchasing your insurance, do note that your insurer may not cover your pre-existing condition(s). You can, however, remain covered for these pre-existing conditions under MediShield Life, the national health insurance scheme for all Singaporeans and Permanent Residents.
– Remain focused
When comparing the different insurance policies on the market, it is easy to find yourself distracted by the returns they are offering. Focus on the task at hand as you weigh your options; ensuring adequate protection for you and your loved ones should remain the priority.
Step #3 – Plan ahead
Your journey to recovery does not necessarily end as soon as you step out of the hospital.
For more serious health conditions, you may require months or even years of post-hospitalisation treatment before a full recovery can be achieved. It is therefore important to find out beforehand whether these expenses are covered under your insurance policy.
In the event your policy does not cover such expenses, you may be able to use your
Medisave, up to the Withdrawal Limits, to ease your out-of-pocket payments. For instance, you can claim up to $25 per day for day rehabilitation charges, subject to a maximum of S$1,500 a year.
Step #4 – Know the limits
It’s tempting to skip the fine print and go straight to signing on the dotted line, but you may overlook important details in your policy when you do so.
For instance, certain common health conditions may be excluded from your coverage, or there could be a limit to how much you can claim for a particular health condition.
Be sure to read the terms and conditions carefully, before it’s too late to realise your coverage is not as comprehensive as you think.
Information accurate as at 4 July 2017
More Info: www.areyouready.sg