22/03/2022
I already have a good medical card,
Do i still need critical illness coverage?
Many would have asked the same question.
Well if we come to this discussion, imagine a person that is just diagnosed with cancer, The biggest problem that one would probably face is definitely- Emotional. It is a big challenge not only for the one, it would be hard time for the family as well.
To be realistic, If we have a good medical card, we deserve to choose the best treatment available in any hospital, without needing to worry about the skyhigh fee that could possibly drain all yr hard-earn money out. But during the frequent visit to hospital, would one still be able to work & sustain the income to support for the daily expenses? Battling with the illness is tough, battling it without enough financial support is even tougher.
That is why critical illness coverage comes into the picture. It is meant to be an Income Replacement Plan. So how much is consider sufficient?
By the rule of thumb- U should be covered 5times of Annual Income. So once we r diagnosed with Cancer, We will get a 5 yrs paycheck from the Insurance payout, the only thing to do is to focus & get back on recovery. 😇 Perhaps that would be a good timing to do a career switch, to slow down the moment, live on our interest & spend more time with the loved ones.
Have u last check on your critical illness coverage?
If u have not, Seek more options from your Life Planning Advisor-
Ginny Cheng