Sunday, November 25, 2007

Insurance for medical and dental treatment

Dear Mr. Tan,
Can I buy insurance to cover medical and dental consultation at private clinics in Singapore?

REPLY
It is better to pay for the cost of these expenditure out of pocket, rather than through insurance.
Insurance does not add value and is costly for this type of expenditure. The additional cost comes from marketing expense, administration cost and the profit margin of the insurance company. It is further aggravated by lack of claims control over this type of claims.

Generally, it does not make sense to buy insurance to cover small expenditures that may occur a few times in a year.
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1 comment:

Tan Kin Lian said...

The person who asked the question told me that it cost the following:

- $800 to remove a wisdom tooth
- $5,000 to have a new set of teeth.

If any visitor is aware about a dental insurance plan available to individuals in Singapore that can cover these expenses, please submit into this blog.

November 25, 2007 5:48 PM

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