This is a blog about my random rants and a point of discussion for my clients, collegues and anyone in general who is interested in insurance, savings, investments and real estate.

Tuesday, December 15, 2009

The shocking truth!!!

note: Thank goodness the exams are over!
Recently I quizzed a few of my friends about their insurance coverage and in particular their coverage against dread diseases. I was really amazed by the lackadaisical attitude most of my friends had towards the probable problem.
It is rather shocking to find out how few Singaporeans actually bother about insurance. ESPECIALLY HEALTH CARE!!!
In 2008, 29% of the deaths in Singapore were related to Cancer. Yet many are unaware of the threat this poses to them and their families. Be it financially or emotionally. Many of the people whom I've spoken to do not cover themselves with at least a basic critical illness cover. The worst thing about having such an illness is the preceding battle that one has to endure before passing on. The struggle is a long and winding toll on the finances of the individual and the family.
Many are aware of illnesses like cancer but very few are unable to put aside a little time and money to deal with the probable future problem.
Sad fact: MORE THAN 1 in 4 Singaporeans will die of cancer eventually. This number should rise with the type of lifestyle and diet all of us are having. Yet very few are willing to protect themselves. It's either "no time", "no money" or "don't care". The scary fact is that most of these people are unaware of the cost of treatment. If they did perhaps they'd stand up and take notice.

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