For individuals with pre-existing conditions, should we hold more cash (compared to investment) for out-of-pocket medical expenses in view of exclusions in insurance policies?

Hi Anon,

Medshield life should cover your pre-existing condition as it's the health insurance plan from the Government, but you would be limited to Government Restructured Hospitals and also B2/ C ward in the event you are hospitalised for the condition.

Also Health Insurance are on an reimbursement basis, so generally it's a good practice to have cash on hand in the event you do get hospitalised.

Hey there!

In financial planning, wealth accumulation and insurance protection often go hand in hand. We probably will need to sit down to see how this will work out in your case. Because even if you didn't incur any costs due to your medical expenses, the value of your money will shrink due to inflation over the long run and your medical expenses will only get higher with age. Just food for thought.

Financial planning is an integral part of life. You can reach me here to find out more.