Part 3/9:
Irene's experience underscores a critical lesson: the importance of comprehensive insurance coverage. Her husband's medical bills were high, but her insurance policy helped alleviate the financial burden, allowing her to focus on her husband's treatment and her child's well-being rather than financial stress.
Most Singaporeans have Medishield Life, a basic health insurance plan covering large hospital bills. However, Irene's husband's hospitalization in private hospitals revealed a common gap—basic insurance often doesn't cover private hospital costs. To mitigate this, experts recommend adding critical illness plans to one's portfolio. These plans pay a lump sum upon diagnosis of a serious illness, helping to cover medical costs and alleviating family financial stress.