Buy Health insurance when you are healthy

Do you know that buying health insurance can save you alot of money? 

Health insurance is best purchased when you are healthy as it will be based on your health status at the start of the coverage. Meaning to say that if you are young (not necessarily) and have no complaints or ailments and have not undergone surgery etc, you can be assured that you are covered for most health expenses except for some exclusions relating to cosmetics or pregnancy-related ones etc

Why save money then? Firstly you use medisave to buy health insurance if you are a Singaporean or PR and the amount to pay isn't very high. If you do not have enough coverage when the need arises, be it minor or major, you may have to fork out alot of cash to pay the medical bills. 

There are riders which are like add on services that you can purchase to cover the cash portion.

Your financial advisor will be able to advise you if you are on the integrated health plans already. Likewise you can login to CPF website with your Singpass to check. However a good financial advisor will be able to advise you if you have the right plan for your needs and expectations.

Getting the right financial advisor AKA insurance agent can save you tons of money too. 

Read my upcoming post on getting the right financial advisor.

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