I do not know whether your Financial Planner knows anything about medical conditions but personally I would think that it’s good that any Financial Planner,… Read More »Good To Have A Financial Planner Who Has A Little Medical Background/Knowledge
High Blood Pressure
Do you know that most Singaporeans do not know that they are having High Blood Pressure or Hypertension till they have:
– Gone through a first-time ever Routine Medical Health Check
– Experienced those frequent dizziness or headaches and decided to see a doctor
And the people suffering from it can be from all walks of life, e.g.
– you can be healthy and fit but you are working under a stressful environment.
– because of the high intake of alcohol, salt (unknowingly) and fatty rich food as part of the daily meals
These are just two common reasons that my clients have shared with me for their cause of High Blood Pressure.
Do you also know…
Do you also know that once you have this condition, you are most likely going to be under a very long term medication and you have to be under a lower medication dosage even if the condition is stabilized. In other words, you cannot take yourself out of medication once you are diagnosed with High Blood Pressure!
A Concern To Take Note Of…
And if you do know that you are having high blood pressure and under medications, its impact on your Financial Planning will usually be:
– loading (extra premiums required and usually a minimum of 25% extra) for your normal life insurance application
– exclusion (any conditions leading from high blood pressure) for your health insurance application
– long term medication costs that you need to factor in to your Retirement Planning
The So-Called Symptoms Of High Blood Pressure
But… You have became unhealthy for the application so what may happen…
After 4 years of being in this industry, I have came across a wide range of clients who have such health issues, and as their servicing agent, sometimes, its my duty and obligation to help negotiate for better terms so that they can go ahead and get the coverage needed!
Anyway the purpose of this post is not to comment on the negotiations that I have gone through (if you like to know for your own purposes, you can comment here and I will put up on the next post) but to let you have a rough feel that if you have became unhealthy, what will normally happen to your life insurance application when you really need to get one.
And if there is a need to go for a medical check, I will be offering a short guide on how to ace (not really 100% effective) the checks.