MEDICAL AND HEALTH

Medical and Health Insurance (MHI), is an insurance policy which is designed to cover the cost of private medical treatment, which can be very expensive, especially with hospitalisation and surgery. MHI also ensures that you won't have to worry about the cost of seeking treatment during emergencies. In addition, MHI also provides you with an income stream while you undergo treatment.




TYPE OF POLICIES


HOSPITALISATION & SURGICAL INSURANCE

This policy provides for hospitalisation and surgical expenses incurred due to illnness covered under the policy.


DREAD DISEASE, OR CRITICAL ILLNESS INSURANCE

This policy gives you a lump sum benefit upon diagnosis of any of the 36 dread diseases or specified illnesses. For a list of the 36 dread diseases, contact a licensed insurance company for details.


DISABILITY INCOME POLICY

This policy proivdes an income stream to replace a portion or your pre-disability income when you are unable to work because of sickness or injury.


HOSPITAL INCOME POLICY

This policy pays you a specified sum of money on a daily, weekly or monthly basis, subject to an annual limit, if you have to stay in a hospital due to covered illness, sickness or injury.


CHOOSING A POLICY

Insurance companies offer MHI policies either individually or in combination. When buying a policy, always :

  • Shop wisely before you buy. Compare the policies of different insurance companies before buying.
  • Be very careful and only choose the insurance that best suits you.
  • Determine if you can afford the premiums of the MHI cover you choose. Don't buy more than you can afford.
  • Take your time to discuss with an agent from an insurance company about the MHI policy you want to buy.
  • Get information on the agent and insurance company. Get a business card with the agent's name, company name, address and telephone number. This is important if you want to enquire, renew or claim on a policy later.
  • Understand the terms and conditions of the policy as well as the scope of cover provided.
  • Read your policy contract carefully.

AM I ALREADY COVERED

Your employer may have already taken out a group plan where either your employer pays the premiums or you pay the premiums on your own. You should get details on the terms of the policy as well as its coverage. Even if you do have a group plan, you should look into getting an individual plan, because only you can customise it to meet your needs, but you also wouldn't have to worry about losing insurance coverage if you change jobs.

WHAT ARE MY BENEFITS

Each policy offers different benefits, and different insurance offers different scopes of coverage. Some insurance companies also offer comprehensive policies which offer more coverage than just the basic insurance cover.

For more information, you can download our booklet on medical insurance.