Sunday, January 18, 2009

Medical insurance is important.

Quite recently, I received a call from Kua's wife. The husband was admitted to a private hospital, for treatment of his spinal stenosis. He had been staying there for almost three months, when two operations had been done on his spine. On visiting him, I was told one hundred and eighty thousand dollars had been spend, and the bills were still increasing as further treatments were needed. Upon reaching there, both husband and wife were asking whether life insurance could be purchased. I felt sad for them because four years ago, I had proposed a comprehensive medical and life plan for him, when he strongly declined the protection. He was then a fit and healthy person who believed in cash rather than on life insurance. Though I had tried hard to sell him, I had failed.

While Kua was hospitalizing, another friend, Ong was eagerly trying to reach me on phone. He was not feeling well for the past half a year, and he was loosing weight drastically. With persuasion from his wife, he consulted a specialist who diagnosed him to be suffering from liver cancer. At the same time, the doctor was suggesting to him to get ready with his medical fund because the surgery and followup treatments would be very costly. Ong was a bit luckier because three years ago, I had forced him to effect a medical plan with the lowest benefits at the cheapest cost. Stingy in nature, a man who are 'penny smart pound foolish', was not prepared to pay more for his personal interest. However the day he was admitted to the hospital, he requested for the best room, best nursing and best medical...without realizing his insurance was only payable with a minimum payout. He had forgotten he wasn't paying the best premium but yet he wanted a best return in benefits. Though he was complaining that not all the medical bills were paid by the insurer, I knew deep down in his heart, he was already a satisfied client because in the first place he actually didn't want to purchase the cover.

The two recent cases were true testimonials of life insurance in the making. I keep repeating.. "Buy life insurance when you don't need it because when you need it, you can't buy".

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