Our home is more than just a physical place that we live in. It is a sanctuary of our own treasure troves – filled with memories of special moments shared with loved ones, of memorabilia collected over time, decorated with items that give us comfort and pride. A place that is filled with indelible marks of our presence. We take much time and effort to build a home just the way we want it to be.
Scratching our heads when reading insurance policies is probably a normal occurrence. Buried within the fine prints of the policies are with terms and jargons alien to most of us. The insurance companies are not creating this to stump us on purpose, as some of the language used in the policies is actually required by law. Understanding some of the basic
insurance terminology may just make it easier for us to understand our policy.
“Oh no, I didn’t think of it and I should have protected my company’s interests!”, a SME owner said during one of her conversation with a friend. Sharing her experience, she said she was very focused on getting her business going – sales, staff, customer relationships, rental and expenses – and, felt that she can save some money from not buying insurance for her business, and it is unlikely that the unexpected would derailed her operations.
The notion of “this will not happen to me” defies the statistics of increasing critical illnesses, in particular, the dreaded cancer disease, which has succumbed many lives. In Singapore, cancer accounts for 28.4% of all deaths¹, and unfortunately, there are no cures for any kinds of cancer, but there are treatments that may help to remove the cancer. Being diagnosed of having cancer can be devastating physically, emotionally and also financially to the person and the family.