top of page
  • Writer's pictureDaniel Lee

Here's Why You Should Pay For A Private Hospitalization Coverage In Singapore

Updated: Nov 2, 2023

Watch It On YouTube

 

Let us talk about hospitalization insurance and why you should pay for private hospitalization coverage here in Singapore.


When I first started my career as a financial advisor, my stance on hospitalization insurance has always been that you should at least get insured up to public A ward hospitalization.


Over the years, my stance has since changed and I would strongly recommend anyone I meet to get insured up to private hospitalization coverage even if they think that they will not pursue a private hospitalization treatment should anything happens to them.


The reason for recommending insurance coverage that covers private instead of public hospitalization treatments is due to the long and volatile waiting time of public hospitals.


Throughout my career, I have not seen a person who is willing to wait for treatment when they are in pain and agony. As a result, they often turn to private hospital treatments when they are unwilling to wait regardless of whether they are insured.



I’ve seen too many cases when clients downgrade their hospitalization coverage to cover only public hospitals as they felt that they wouldn’t engage in any private hospitalization treatment only to end up going into a private hospital as they are unwilling to accommodate the long waiting time when they are in pain or they would like to seek for a second opinion.


As a result, these people ended up paying more hospital bills than they would have if they had continued their private hospitalization insurance coverage.


With a worsening aging population and plausibly another pandemic in the future, Singapore’s public hospital waiting time might become even longer and much more volatile than it is today which is undesirable.


To avoid having to deal with such situations, having private hospitalization insurance coverage is recommended as it provides you with the option to seek treatment in a private hospital when the waiting time in a public hospital is unbearable.



All of these can also be found in my eBook: “The Price Of Financial Freedom” which will provide you with a comprehensive guide to help you achieve financial freedom and live life on your terms in the shortest amount of time.


You can download a copy of it for free on my website:


If you do not know how to get started with your financial planning or if you do not have the time to manage your finances or do the necessary market research, you can consider engaging an Independent Financial Advisor who can help you make sense of the market, accelerate your progress and achieve financial freedom by 5 to 10 years earlier!


To find out more information about how you can benefit from my financial and insurance planning services, you can check out what I do on my website here:


Daniel is a Licensed Independent Financial Consultant with MAS and a Certified Financial Planner (CFP®).


Connect with me on social media platforms to receive updates on future content! You can also slide into my DMs if you have any questions :)





 

Disclaimer:

This article is meant to be the opinion of the author

This article is for information purposes only

This article should not be seen as financial advice

This advertisement has not been reviewed by the Monetary Authority of Singapore


217 views0 comments

Yorumlar


bottom of page