What Is A “Deductible” or “Excess”?

A deductible or excess is something you have on your policy when you have either, Hospital & Surgical coverage or Motor coverage. And its a dollar amount – it could be $500, $1000 or $3,000. Quite simply put, the deductible is what you are responsible for, before the insurance company pays out anything on your…

Importance of Overseas Medical Coverage

There is an essential aspect of Medical Insurance which some of you may not know – having overseas coverage. To illustrate the importance of it, below is the story of my colleagues’ client. She is a 9 years old girl, who was diagnosed with Brain Cancer in 2014. After 2 weeks of treatment, her doctors gave up as the…

How Can You Cope With Long Term Care?

I would like to share with you the story of two friends of mine, who are in distress because their parents require long term care. George and Joanne are a married couple in their late 40s. George just put his parents in a nursing home, which costs $2,000 per person every month. At the same…

FAQs on MediShield Life and Private Integrated Shield Plans

MediShield Life (MSHL) has replaced MediShield as of 1 Nov 2015. Like MediShield, MSHL is targeted at Class B2 and C wards coverage but it provides better protection such as: Higher inpatient/day surgery/outpatient cancer treatment limits Higher annual claim limits No lifetime limit Lower co-insurance payable This brings several questions for people who are already…

4 Life Insurance Myths Debunked

Do you have a contingency plan that can protect your family just in case something bad happens to you? Assuming you are the main income earner in your family, it will be difficult for your loved ones to pay for school, food and other amenities in the event you pass away. Let’s be honest, it’s a rather scary thought. If you don’t have life insurance ready, you could be leaving your family in serious financial distress. Having life insurance can help support your loved ones. However, if you’re not familiar with life insurance policies, it can be difficult to distinguish what is true about life insurance and what is a myth. To help clear up confusion, here are some common myths about life insurance. Life insurance is too expensive…