Clarify uncertainties in health insurance

This letter has been published with some changes made by the Editor.

26 August 2012

Editor, Forum Page

Straits Times

I refer to the letters from Jerry Lam and Phillip Williams regarding 

their health insurance policies (Straits Times 24 August 2012).

More Singaporeans are relying on insurance to take care of the

escalating cost of health care, especially for the elderly.

I urge the Monetary Authority of 

Singapore and the insurance associations to clarify the uncertainties 

faced by consumers when they are faced with 

stiff renewal terms, changes to the existing coverage, and 

exclusions for pre-existing conditions.

Consumers need to be assured that their

rights and interests are protected, and that they do not have to incur

legal expenses to overcome unreasonable rejection of their claims.

It is also important for consumers to realize that insurance is not the only solution.

They should consider other risk management methods, such as loss control 

and retention of risk. 

This should not rely on insurance to pay for expensive and futile treatment 

that have an extremely low chance of success and does not improve 

the quality of life.

Tan Kin Lian

President
Financial Services Consumer Association