Healthcare planning

Step 1   Review current medical programme

i)  Check if medical programmes are inforce
ii)  What are the limits of indemnity, eg. room and board, surgical benefits, outpatient treatment, etc.
iii)  Do your existing policies meet your current needs?
Step 2   Planning for future medical needs

i)  Establish your future medical needs and expectations
ii)  If you are employed, find out what medical benefits are provided by your employer.
iii)  Determine your shortfall
iv)  Decide how much you would set aside for this programme bearing in mind the premium increases over time.
Step 3   Studying the available programmes in market

i)  Seek out information regarding availability of products in the market, eg. standalone policy vs a rider, annual and lifetime limits, pricing, benefit schedules, etc.
ii)  Make informed decisions as to the choice of the insurance companies as well as advisers/agents
Step 4   Implementation

i)  When signing up for the policy, make sure all the relevant information is given accurately.
ii)  Check out the waiting period and exclusions.
iii)  Go through the policy carefully with your adviser/agent when you receive it.