Here's Why You Should Pay For A Private Hospitalization Coverage In Singapore

Updated: Nov 2, 2023

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Let us talk about hospitalization insurance and why you should pay for private hospitalization coverage here in Singapore.

When I first started my career as a financial advisor, my stance on hospitalization insurance has always been that you should at least get insured up to public A ward hospitalization.

Over the years, my stance has since changed and I would strongly recommend anyone I meet to get insured up to private hospitalization coverage even if they think that they will not pursue a private hospitalization treatment should anything happens to them.

The reason for recommending insurance coverage that covers private instead of public hospitalization treatments is due to the long and volatile waiting time of public hospitals.

Throughout my career, I have not seen a person who is willing to wait for treatment when they are in pain and agony. As a result, they often turn to private hospital treatments when they are unwilling to wait regardless of whether they are insured.

I’ve seen too many cases when clients downgrade their hospitalization coverage to cover only public hospitals as they felt that they wouldn’t engage in any private hospitalization treatment only to end up going into a private hospital as they are unwilling to accommodate the long waiting time when they are in pain or they would like to seek for a second opinion.

As a result, these people ended up paying more hospital bills than they would have if they had continued their private hospitalization insurance coverage.

With a worsening aging population and plausibly another pandemic in the future, Singapore’s public hospital waiting time might become even longer and much more volatile than it is today which is undesirable.

To avoid having to deal with such situations, having private hospitalization insurance coverage is recommended as it provides you with the option to seek treatment in a private hospital when the waiting time in a public hospital is unbearable.

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