Module 3F: The Deductible Medical Card

Many private sector employee did not buy their own medical insurance aka medical card when they are under employment. What for right? It is redundant – yes? But who is going to cover your medical expenses after the mandatory retirement age? It would end up that you would need to fork out money after retirement age to get your own medical coverage instead. However, at that age, insurance company might not want to underwrite you when your health condition is less than ideal. Now, you will begin to worry that major medical expenses will eat into your retirement nest egg.

Still, a lot of people would absorb this risk post retirement, because they feel the cost of buying a second medical card during full time employment is not justifiable. What if I tell you there is a solution to these 2 problems?

Listen to the video below.



  • KS Lim

    Reply Reply June 15, 2013

    This is definitely a “must have” especially if any family members before us has any of the critical illness which can be hereditary. Though it may be an expensive expense during retirement, in the worst case, it will still be a comfort knowing that the medical insurance will help pay for the bulk of the treatment and leave our nest egg with little or no impact.


      Reply Reply June 15, 2013

      Agreed, KS, else we would need to liquidate investment funds worst case scenario!

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