Most people, including insurance agents and financial advisers, thought that getting an insurance policy to cover expenses incurred for hospitalisation will cover every cent. This may surprise you but in reality, it may not.
One cancer patient told me that she was only able to claim the chemotherapy charges incurred but not the rest of the bill. Chemo sessions are considered “outpatient benefits” not hospitalisation benefits. Only the chemo charges are claimable.
Wow, this will be a rude shock to everyone who bought all the “Shield” insurance policies using their CPF Medisave!
So please read all the exclusion clauses in your policies. You must also be aware of how the annual deductible and co-insurance work in your case. Review it with our financial adviser. It may affect your “outpatient” compensations.
I know of a plan which pays both outpatient and inpatient charges. It is more expensive but if you have deeper pockets, please contact me for advice.
Have a great week ahead, my friend. : -)
