Personal Financial Management V3, It's all about managing your $$$
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 Nov 20 2014, 09:40 PM
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#1
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10,162 posts Joined: Nov 2014 
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QUOTE(beebee @ Nov 20 2014, 03:34 PM) do we need to get medical insurance if we have dependants? Medical insurance is still necessary as an individual to pay cost of hospitalization. If not, the hospital bills are going to burn a hole in your wallet. |
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Nov 21 2014, 12:48 AM
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#2
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10,162 posts Joined: Nov 2014
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QUOTE(wongmunkeong @ Nov 20 2014, 10:36 PM) er.. i'd think it depends on how big a wallet, thus that "hole" may or may not even scratch the wallet this is crazy talk. IF i can afford to self-cover (big if la), why would i pay admin cost +profits +commissions +hospital cost (via medical )insurance VS just pay hospital cost? Buying insurance is just risk mitigation / management - and one pays a price to push that risk to someone else (insurer). Insurer needs to pay admin +commissions +make profits for shareholders. Thus does one really think it's cheaper VS pay by self? Again - this is assuming one has "enough" la. While building towards "enough" - then i'd agree that it'll be useful to mitigate or manage risk by having the RIGHT insurances for the RIGHT reasons. just thinking..  Why would I prefer to spend paying a RM100,000 hospital bill with my OWN money when I can just maintain a medical card for RM200 monthly that covers me until I'm old. if you're going to assume every bill is going to come in RM10,000 - RM50,000 then by all I means go ahead and use your cash if you think you have TONNES of surplus but I doubt any rich man would do that. |
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Nov 21 2014, 12:51 AM
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#3
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10,162 posts Joined: Nov 2014
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QUOTE(ryan18 @ Nov 20 2014, 09:49 PM) how much is the average premium for a basic medical card?this wont cover medicalcheckup right,just hospitalisation? Depends on your Age range. Better to get a proper quote via an agent.It covers your medical check up in the event of hospitalization under "Pre-Hospitalization" if you've been diagnosed with any medical problem and requires to stay in the hospital. and No, you can't use medical card to pay for your own medical check up just because it's a yearly check up. |
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