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Stroke

High Blood Pressure – The Silent Killer To Your Health And Insurance

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

Read More »High Blood Pressure – The Silent Killer To Your Health And Insurance

Total and Permanent Disability And That Plan Called ElderShield

When you buy any life insurance plan, the basic benefits are that you are covered against Death and Total and Permanent Disability. So do you what does this insurance term – Total and Permanent Disability – mean to you?

The General Definition of Total And Permanent Disability (TPD)

It would practically mean that the loss of a pair of limbs (inclusive of eye sight) and being unable to work continuously for six month and thereafter. This, of course, must be certified by a certified Medical Practitioner. If the definition here differs from what you should know, please do refer to the Product Summary of your life insurance and it’ll be explained there.

The General Exclusion For Total And Permanent Disability

Do you know that, in Singapore, the coverage for TPD will cease the moment you have reached 65 years old whereas the rest of the coverage like Death or against the 30 Critical Illnesses will still continue.

So Is Having The Coverage For TPD Important?

Life is full of uncertainty and you’ll never know when such an unforeseen circumstance like a stroke will hit you to be permanently disabled – you lose your job permanently, loss of income for your family, you are very much alive and there’ll be a definite financial difficulties as long as you are alive.

Therefore, having a coverage for TPD (some insurance companies will pay a lump sum whereas others may pay a certain limit per month or per year) is beneficial in making sure that you have enough financial assistance to take good care of yourself while you are down.

So Why Does Total And Permanent Disability Cease To Continue After Age 65?

This is a very good question that I, myself, do not have an accurate answer. In my personal opinion (I may be wrong) is that, the health risk for people to have Stroke or Alzheimer’s Disease (Total and Permanently Disabled) is tremendously high, which could have a serious financial impact on insurance companies to sustain this risk. Therefore they decide to have this general clause of having it till age 65.

Stroke And Alzheimer’s Disease Are On The Rise, So How Do I Get Myself Covered After Age 65?

The ElderShield Plan

If you are concerned about getting covered after the age of 65, there is an initiative taken by the CPF Board to help take care of Singaporeans in terms of severe disability, that is the Eldershield Plan, which is offered automatically to Singaporeans and PRs who are CPF members and have turned 40 years old.

Read More »Total and Permanent Disability And That Plan Called ElderShield