Paying for medical insurance is part of financial burden for many families.
Health is so uncertain that we now find people taking up multiple health insuranc e policies, with some even extending their cover up to the age of 100 (The Sunday Star 5 September 2010).
Most employers do not provide post-retirement medical coverage. Hence, more and more working adults between 25 and 50 are taking up private medical insurance policies to avoid exhausting their savings should they be stricken with a major illness.
How much will it cost?
It was reported that a 70-year-old pays about RM480 a month as premium (for cover expiring at age 80) or RM611 for cover expiring at the age 100.
The above is too high a cost for many people.
What is the alternative?
The best insurance is ensure one is leading a healthy lifestyle.
If one is healthy, one does not need to worry about medical insurance cost. It is not an issue at all.
For this simple practise of taking health food to ensure long term health, my family does not take up any medical insurance.