facebookWould you buy additional hospitalization insurance for your parents who qualify for Pioneer Generation benefits and their medical costs are already substantially covered by Govt subsidies? - Seedly

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Anonymous

18 Apr 2019

Insurance

Would you buy additional hospitalization insurance for your parents who qualify for Pioneer Generation benefits and their medical costs are already substantially covered by Govt subsidies?

My parent is in his 70s and I had purchased a private hospitalization insurance a couple of years ago and am now wondering if there is a need to purchase this insurance which has a premium cost of $2500-$3000 per annum. Note that my parent is relatively healthy and has not seen a doctor in his entire life. 10yrs of premium would come to $25-$30k of premium cost. 20yrs would be doubled, hence not a small sum. Please share your thoughts.

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Gabriel Tham

27 Sep 2018

Tag Team Member at Kenichi Tag Team

If can afford is good to have.

If cannot afford, then make do with lower wards and subsidized care

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