Comments on: Case Study of an Unplanned Hospitalisation Financial Disaster

By: Wilfred Ling

Wilfred Ling — Fri, 25 Jun 2010 02:58:41 +0000

If Patrick has a Lasting Power of Attorney, his family member will be allowed to withdraw his personal savings or even sell his assets to foot the bill and the family wouldn’t be so stressed.

Financial advisers and insurance sales people will not advice on the Lasting Power of Attorney because there is no commission to earn. That is why, people who wants to do financial planning should only engage professional planners to do it.

By: lioninvestor

lioninvestor — Thu, 24 Jun 2010 18:02:23 +0000

Hi Garrett,

the LOG only applies to government hospitals, and even then there’s a cap.

By: lioninvestor

lioninvestor — Thu, 24 Jun 2010 18:01:39 +0000

Hi Garrett,

He didn’t think it was anything serious, so just went to the most convenient location.

By: Jasmin

Jasmin — Thu, 24 Jun 2010 12:41:30 +0000

I think the hospital is likely to treat the patient and eventually he passes on, the family will have to settle that big “bomb”.
Now before a person is hospitalised, he is asked to sign CPF medisave authorisation form or make a deposit FIRST, to ensure the hospital will get some $$ before anything is carried out.

By: Wilfred

Wilfred — Thu, 24 Jun 2010 07:45:34 +0000

Garrett,

NTUC’s Letter of Guarantee is merely a credit facility. It’s credit limit is just $10,000. Not even enough for 1 day’s worth of fees.