Why I go light on insurance
Perhaps working zealously on building a nest egg trumps buying insurance policies
LIFE is full of hazards. Fortunately, there is a range of insurance policies to hedge against various risks. However, the cumulative costs of taking up many policies may be prohibitively high and simply unaffordable.
As I am in my 50s, on my radar is the risk of facing a major medical problem and the associated costs of treatment. However, I choose to confront such risks when I retire by sticking with the basic health insurance plan for Singaporeans, MediShield Life. I do not have an Integrated Shield Plan (IP).
MediShield Life is a health insurance that provides coverage for life. It helps pay for items such as hospital bills, outpatient treatment costs and long-term care. It aims to provide adequate coverage for patients who stay in Class B2 and C wards in public hospitals.
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