For Health's Sake, What Would You Risk?

If you would rather self-fund costly medical bills in the event of a major illness, how much are you actually ready to spend? In the face of rising costs, AIA offers solutions to help the wealthy protect everything they hold dear and enhance their lives.

The alarming rate at which cancer treatment costs are escalating in Singapore had led the Ministry of Health to implement new measures to improve affordability. The implications are wide, and ultimately, they help patients to better manage the bills. Certainly, the difference in a few thousands of dollars more in coverage could prove a life-saver for many households.

Without a doubt, the appetite for bearing medical costs for wealthy individuals is significantly higher. There are High Net Worth Individuals (HNWIs) who are both so cash- and asset-rich that rainy days could merely spell a light shower. They are confident of self-funding exigencies, medical or otherwise.

A HNWI client had once remarked that she didn’t need healthcare insurance as she could afford to absorb an expensive medical bill, say S$500,000 or even a million. But what if it hits S$2 million or surpasses that – which is entirely possible, especially in protracted cases of illness, or if she, as a highly mobile entrepreneur with business interests around the world, wanted to seek treatment abroad? She stopped and began to think twice.

ALL THINGS CONSIDERED