As you can see from the article, this Indonesian is suffering from cancer. The doctor in Indonesia could not figure out what it is, but luckily the doctors in Singapore managed to diagnose it and treat it. The operation it self can cost up to $100,000. Not including other expenses such as the room, medicine, follow up and etc. He works as a general manager in Indonesia. I do not know how much he earns. But roughly on average, a general manager in Indonesia earn maybe about $80,000 a year. So he will spend about 1 to 2 years of his salary to pay for the medical expenses if he do not have insurance. To me, that is not a good financial planning. What do you think?
Do you know that cancer is the no 1 killer in the world by 2010? Now it's already 2011. It's no wonder that we see so many cancer cases almost every other day. We in the insurance industry all over the world have paid out billions of dollars for hospital and critical illness claims to help our policy holders.
This is what's happening, the risks are very real. I am pretty sure that many of you knows someone who have suffered cancer before, be it someone in the family, relatives or friends. I am not saying that everyone will get cancer, but statistics have shown that many people have a chance to suffer from cancer in their life time. Globally, 1 in 8 died from it and in Singapore, 1 in 3 died from it.
No one knows who will get cancer, because it is partly genetics. So it does not matter you are healthy or not, smoking or not, young or old, etc. It may happen. Thus the need to protect yourself with a good hospital and critical illness coverage. You do not buy insurance expecting to get sick. But you buy insurance to make sure that your income is protected, your saving is protected, you and your family life style is protected.
Cheers! Have a great day.
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