In financial management, other than accumulating wealth, the other important part will be protecting our wealth. Without wealth protection, uncertainties in life might take away our hard earned wealth. How to protect our wealth? We can do so with insurance coverage.
In Malaysia, car road tax renewal will only be issued upon the purchase of insurance of the car. From here, it shows the importance of insurance protection. That is for car, what more to say insurance for a human being?
When my niece was diagnosed with kidney failure, the first question my younger brother asked me was whether my niece has medical card or insurance coverage or not. Sad to say, my niece is not protected with insurance. So, my brother (her father) has to settle all medical expenses with his hard earned money. Of course, we as family member, especially our parents did help them for the medical expenses. Like my niece case, it is a long term medical care for her. From the moment my niece diagnosed with kidney failure, my brother started to worry, not only on my niece's health condition but also worried for financial support of her health condition.
Lucky that after admitted to Sarawak General Hospital, the medical expenses is still manageable because it’s government hospital. Furthermore, my niece still holds her university student card. We are still unsure of the roads ahead, but we pray hard that her kidneys still has hope.
Situation would be better (financially) if my niece has her insurance coverage especially medical card. My conclusion here is that it is important to have medical card and insurance coverage. We never know what lies ahead of us. It’s crucial to prepare for the worst. At least with medical card or insurance coverage, the financial burden will be lighter.
For those who are not under insurance coverage or medical card, it is time to get one now.