Blueroselady's Weblog

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On life and health insurances

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My priorities on wealth protection
(1) Hospital and surgical (H and S)
(2) Critical illness (CI) + women-related illness
(3) Personal accident
(4) Total permanent disability
(5) death

Hospitalization and Surgical (H and S)plans are term protection plans where there is no cash value. Premiums are not guaranteed to stay level, and are typically adjusted upwards based on five-year age bands. On top of that, the insurer may, due to adverse claims experience, raise premium rates for everyone on the plan at 30 days’ notice.

It is important that we carry out financial review and risk profiling at least 1x a year.

Past performance figures shown are not indicative of future performance.

What is underwriting? You’ll need to make a health declaration to qualify. Any pre-existing conditions will be excluded.

Angioplasty? Angioplasty is the technique of mechanically widening a narrowed or obstructed blood vessel; typically as a result of atherosclerosis. An empty and collapsed balloon on a guide wire, known as a balloon catheter, is passed into the narrowed locations and then inflated to a fixed size using water pressures some 75 to 500 times normal blood pressure (6 to 20 atmospheres). The balloon crushes the fatty deposits, so opening up the blood vessel to improved flow, and the balloon is then collapsed and withdrawn.

Ischaemic heart disease
Ischemia is a restriction in blood supply, generally due to factors in the blood vessels, with resultant damage or dysfunction of tissue.
Rather than hypoxia (a more general term denoting a shortage of oxygen, usually a result of lack of oxygen in the air being breathed), ischemia is an absolute or relative shortage of the blood supply to an organ, i.e. a shortage of oxygen, glucose and other blood-borne fuels. A relative shortage means the mismatch of blood supply (oxygen/fuel delivery) and blood request for adequate metabolism of tissue. Ischemia results in tissue damage because of a lack of oxygen and nutrients. Ultimately, this can cause severe damage because of the potential for a build-up of metabolic wastes.

Ischemia can also be described as an inadequate flow of blood to a part of the body, caused by constriction or blockage of the blood vessels supplying it. Ischemia of heart muscle produces angina pectoris.

Neurosis? Neurosis is a class of functional mental disorders involving distress but neither delusions nor hallucinations, whereby behavior is not outside socially acceptable norms.

Jaundice? Jaundice is a yellowish discoloration of the skin, the conjunctival membranes over the sclerae (whites of the eyes), and other mucous membranes caused by hyperbilirubinemia (increased levels of bilirubin in the blood). Jaundice seen in the newborn, known as neonatal jaundice, is common, occurring in almost every newborn as hepatic machinery for the conjugation and excretion of bilirubin does not fully mature until approximately two weeks of age. In extreme cases, a brain-damaging condition known as kernicterus can occur, leading to significant lifelong disability; there are concerns that this condition has been rising in recent years due to inadequate detection and treatment of neonatal hyperbilirubinemia. A Bili light is often the tool used for early treatment, which often consists of exposing the baby to intensive phototherapy. Bilirubin count is lowered through bowel movements and urination so regular and proper feedings are especially important. Jaundice itself is not a disease, but rather a sign of one of many possible underlying pathological processes that occur at some point along the normal physiological pathway of the metabolism of bilirubin.

By-pass surgery? This is a type of heart surgery. It’s sometimes called CABG (“cabbage”). The surgery reroutes, or “bypasses,” blood around clogged arteries to improve blood flow and oxygen to the heart. The arteries that bring blood to the heart muscle (coronary arteries) can become clogged by plaque (a buildup of fat, cholesterol and other substances). This can slow or stop blood flow through the heart’s blood vessels, leading to chest pain or a heart attack. Increasing blood flow to the heart muscle can relieve chest pain and reduce the risk of heart attack. Ref:

Cysts? Once formed, a cyst could go away on its own or may have to be removed through surgery.

Granulomas? Granuloma is a medical term for a ball-like collection of immune cells which forms when the immune system attempts to wall off substances that it perceives as foreign but is unable to eliminate. Such substances include infectious organisms such as bacteria and fungi as well as other materials such as keratin, suture fragments and vegetable particles.

Vascular malformations
? Vascular malformation is a general term used to refer to blood vessel abnormalities. There are many types, but the most common is arteriovenous malformation (usually congenital).

Haematomas? A hematoma, or haematoma, is a collection of blood outside the blood vessels, generally the result of hemorrhage, or more specifically, internal bleeding. It is commonly called a bruise.

This is from an oncologist:
If one is diagnosed with end-stage cancer, you have the choice (1) not taking any treatment and will die in 6 months, OR (2) take treatment and will die 2 years later, but have the chance to enjoy less symptomps during the initial few months (can be up to 1 year 11 months – because the treatment is suppressing the cancer cells), eventually die when the drug-resistant cancer cells manifest. Which one would we choose?
This also highlights the importance of having financial ability to afford the treatment. Would we want to suffer 6 months or 1/2 months before death? Furthermore, the extension of 1 year 11 months will enable us to do things that we would love to do: spend more time with the loved ones, see the corners of the world we dream of.

K.O. told me that “all insurance plans are good”, my correction “all insurance plans are good for the right people bought at the right time for the right purpose”.

From the book: insurance for dummies
Residual disability usually means proportionate coverage when we’re unable to work full time (from a back injury to a heart attack), and usually resulting in an income loss of at least 20%.

Make sure that the residual benefit period isn’t limited. If your disability coverage goes to age 65, so should the residual coverage (Many benefits last only 6 months!).

BENEFICIARY: is the person / organization to whom life insurance proceeds are payable at the death of the person insured. It could be a spouse, children, a sibling, or a favorite charity.

OWNER: The owner of a life insurance policy may / may not be the person whose life is insured. The owner is the person / organization who controls the policy, pays the bills, chooses the beneficiary, and so on.
Here are some examples of when the owner would be different from the person insured:
(1) A corporation owner insuring the life of a key scientist whose talents are vital to the company’s survival
(2) A family trst owner insuring an aging parent in order to pay estate taxes due at death.
(3) A parent insuring the life of a child to cover final expenses.

Stay with insurance companies rate A or better by

Written by blueroselady

April 2, 2010 at 3:19 pm

Posted in finance, health

Tagged with , ,

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