Financial difficulties. No one in this world ever want financial difficulties. But it's funny that many people do not want to plan for the unexpected, because they think it will never happen to them. But take a look at the recent accident of a family from Singapore while they are on holiday in Melbourne.
It is very devastating, I think almost everyone were hospitalised, some with major injuries and some with minor injuries. Furthermore, 1 child died because of the accident. Now there is still 1 more child in the hospital while the rest of the family members need regular check up to the hospitals. They need to be in Melbourne for another 3 months before they are fit for travel.
They are now facing financial difficulties because they need about S$6,500 per month for all the expenses and they will need it for the next 3 months at least. For now, the Muslim community have been providing packed meals for them. Then an informal group on facebook have raised A$1,300. But it is far from enough.
Luckily, the insurance company is now in the process to help the family. So I guess the family had bought some insurance before, which I'm really really glad. That means somewhere out there, there is a good adviser who have done their job. Well done in protecting this family!
In this scenario, a travel insurance is very useful. It will cover all your medical expenses and even giving you hospital income (e.g. $200 for each day you are hospitalised) which can be use to cover the other expenses such as food and accomodation. It is also useful because travel insurance cover medical evacuation, repatriation and even death and disability.
Other insurance which can be useful in this scenario is disability cover. Which means if you are unable to work, we will give you replacement income. Even if its partial disability, you still can enjoy the pay out and you won't have to worry about your expenses.
So let me end this post with a quote from the article, "The parents are extremely distressed. They've had to deal with loss of a child. Money problems don't help at all."
Insurance will not replace your loved ones. Let me say that again, insurance will not replace your loved ones. But I can guarantee you that insurance will help you in times of need, so that you will have less things to worry about. You will not have to worry about the burden of financial difficulties!
Cheers! Have a great day.
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