What insurance can I get my mum who is 57, does not work, is a foreigner and does not have any insurance at all?

Hi Seedly community, would like some insurance advice pls. I'm a Singaporean (converted after NS) and my mum is a foreigner who is 57 this year. She does not work or have any insurance at all. What could i get her?

Hi Seedly community, would like some insurance advice pls. I'm a S'porean (converted after NS) and my mum is a foreigner who is 57 this year. She does not work or have any insurance at all. What could i get her the family is supported by me and my fellow Singaporean brother's income. My mum is not working currently and our "dad" left us for reasons. I am hoping to get an insurance for my mum who is turning old and is not covered by anything at all.

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Pang Zhe Liang

31 Jan 2021

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

Above all, we shall start with healthcare insurance for a simple reason - medical inflation has hit about 10% in 2019, and 2020. Consequently, a single medical bill may potentially wipe out your entire life savings. What's more, your mother won't be eligible for government subsidy. Hence, healthcare insurance is the first and most important type of insurance that you should consider.

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In addition to healthcare insurance, I will usually recommend my clients to consider a personal accident insurance. Generally, this will cover the eligible medical bills due to an injury, and long-term treatment, e.g. fracture. Given that affordable premium, it will be a good consideration for your mother.

Other than that, we will need to speak to your mother and you to understand your priorities and needs. Thereafter, we will be able to evaluate and give you the best advice to that end.

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Dare to Finance

31 Jan 2021

Hello Anon,

If there’s only one insurance that you should get for her, it would be hospital insurance.

Hospital bills in Singapore can get quite expensive especially if it’s a private hospital. Getting a hospital insurance can protect your mom and your family from paying the full hospital expenses.

If you want more details, you can check out the blog that my team has written:

https://www.daretofinance.com/blogs/hospital-in...

If you still have any questions, feel free to drop us a DM:)

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