The Hidden Financial Costs of a Heart Attack | AXA Singapore

Based on data from the Ministry of Health (2018-2019), the median hospitalisation bill for coronary artery bypass ranged from S$8,312 for B2 ... AXASingaporeisnowpartofHSBCGroup.Thequalityofourproducts,servicesandpeoplewillremainthesame.Findoutmore.AXAWanderlustTravelPlan-30%OFF+Extra15%OFFwithPromoCode:WSMY2240(SingleTrip)ShopNowOurCustomerCentreisat9NorthBuonaVistaDrive,#18-01/06TheMetropolisTower1,Singapore138588.Pleaseberemindedthatweareoperatingonanappointment-onlybasis,andyoucancallourhotlinetomakeanappointment.Clickhereformoreinformation.PleasenotethatwewillceaseofferingMotorandCommercialLinesinsuranceproductsby30June2022.Thisdecisionwillnotaffectexistingpolicytermsandconditions,orchangeourcommitmentstoservicingpoliciesandclaims.Clickhereformoreinformation.COVID-19:UpdatesandinformationforAXACustomershere.PROMOTIONSMyAXAPAYMENTBLOGFUNDPRICESCLINICLISTDISTRIBUTIONACCESSAXAONEAXAe-GuideGTOMEDGEEASEINSURANCEFILEACLAIMSELF-SERVICEBuyOnlineTravelDirect-AXATermLiteHomeDirect-AXALifeLiteHealthPersonalAccidentAXASingaporeisnowpartofHSBCGroup.Thequalityofourproducts,servicesandpeoplewillremainthesame.Findoutmore.BuyOnlineINSURANCEFILEACLAIMSELF-SERVICEDISTRIBUTIONACCESSPROMOTIONSMyAXAPAYMENTBLOGFUNDPRICESCLINICLISTINSURANCETravelHomePersonalAccidentSmartPAProtect+AXABandAidArtLifeAXALifeTreasure(II)Direct-AXALifeLiteDirect-AXATermLiteSavings&InvestmentsAXAWealthAcceleratePulsarAXASavvySaver(II)HealthAXAShieldInternationalExclusiveSmartCareOptimumEnhancedEmployeeHealth&Benefits#BetterMebyAXABetterMeBusinessBetterMeForeignWorkersAXAImperialCollectionBespokesuiteofspecialistplanscurated
forhigh-net-worthindividualsSELF-SERVICEMakePaymentAXAPayHowtomakeapolicypayment?e-GIROsetupSetupyoure-GIROforfuturepaymentofyourLifeandShieldpolicies.FormlibraryFindtheform(s)relatedtomanageyourpolicy,handleclaimsandotherpolicymatters.BuyOnlineTravelDirect-AXATermLiteHomeDirect-AXALifeLiteHealthPersonalAccidentTravelHomePersonalAccidentSmartPAProtect+AXABandAidArtLifeAXALifeTreasure(II)Direct-AXALifeLiteDirect-AXATermLiteVIEWALLSavings&InvestmentsAXAWealthAcceleratePulsarAXASavvySaver(II)VIEWALLHealthAXAShieldInternationalExclusiveSmartCareOptimumEnhancedVIEWALLEmployeeHealth&Benefits#BetterMebyAXABetterMeBusinessBetterMeForeignWorkersViewAllAXAImperialCollectionBespokesuiteofspecialistplanscurated
forhigh-net-worthindividualsHIGHNETWORTHINSURANCEMakePaymentAXAPayHowtomakeapolicypayment?e-GIROsetupSetupyoure-GIROforfuturepaymentofyourLifeandShieldpolicies.FormlibraryFindtheform(s)relatedtomanageyourpolicy,handleclaimsandotherpolicymatters. Home>Blog>health>TheHiddenFinancialCostsofaHeartAttackTheHiddenFinancialCostsofaHeartAttack21Aug20205MinsReadThisarticlevisitssomegeneraltopicsabouthealthandcriticalillness.Ifyouhaveaspecificquestionorwouldlikeadviceonyourprotectionneeds,pleaseleaveyourdetailsbelow,andwewillgetbacktoyouassoonaswecan.AccordingtoSingaporeHeartFoundation,17peopleinSingaporediefromcardiovasculardiseases(heartdiseaseandstroke)everyday.Cardiovasculardiseasesaccountfor1outof3deaths–withheartattackbeingthenumbertwokilleraftercancer–andlevyUS$8.1billionannuallyindirectandindirectcostsonindividuals,theirhouseholdsandthepublicfinances.Athirdofallheartattacksalsooccurwithnowarningsigns.Butwhenyou’reyoung,activeandhealthy,whatreallyarethechancesofhavingaheartattackorfacinganytypeofcriticalillness?AccordingtoTheLifeInsuranceAssociationSingapore(LIASingapore),theincidenceofchronicdiseasesamongboththeyoungandoldisincreasing.Regardlessofhowhealthyordisciplinedyouare,there’snotellingwhenaseriousillnessmaystrike.Withhealthcareinflationbeingacontinuingtrendaroundtheworld,youmaybeinterestedinhowmuchheartdiseasecanactuallycost,andhowwecanadequatelyprepareforit.Whataresomeofthecostsassociatedwithheartdisease?HealthcareinSingaporeiscertainlyexpensive,andevenafterutilisingsubsidiesandinsurance,wecanbeleftwithhighout-of-pocketcosts.Out-of-pocketcostsmakeupalmost37%ofthetotalhealthcareexpenditureinSingapore:afigurethatishigherthaninmanyothercountries.Whilesomeproceduresmayincurminimalout-of-pocketcosts,otherproceduresmaysetpatientsbackthousandsofdollarsifyoudonothaveverycomprehensivehealthinsurance. Onesuchtreatmentisheartbypasssurgery,whichisusedtotreatcoronaryarterydisease(heartdisease).Duetoitscomplexity,aheartbypasssurgeryisoneofthemostexpensivehospitalproceduresinSingapore.Forinstance,someonewhodoesn’thaveanIntegratedShieldPlan(IP)mayincurout-of-pocketcostsofatleastS$36,978,ifstayinginunsubsidisedAorB1hospitalwards.Evensubsidisedpublichospitalout-of-pocketcostscanbebetweenS$1,943toS$2,601.BasedondatafromtheMinistryofHealth(2018-2019),themedianhospitalisationbillforcoronaryarterybypassrangedfromS$8,312forB2wardsinpublichospitals,toashighS$34,204forunsubsidisedB1wardsinpublichospitals,andS$81,338forprivatehospitals.Thesedonotincludeanypost-hospitalisationrehabilitation,andanylossofincome.MostofusinSingaporemayalreadybesomewhatcoveredbyahospitalisationplan,butonceagain,therearelimitstothecoverage:ahospitalplanalonemaynotcoveralltests,treatmentsandconsultationfees.AccordingtoLIA,ittakesabout5yearsforapersontorecoverfromacriticalillness.ThisispartiallyattributabletothefactthatsurvivalratesforcriticalillnessesinSingaporehavegreatlyimprovedovertheyears,leadingtoincreasedlifeexpectancyforSingaporeans.Ofcourse,withincreasedlifeexpectancycomesagreaterneedforSingaporeanstohavemorecomprehensivefinancialprotectionagainstillnesses,asrecurringcriticalillnessnowbecomesofgreaterpossibility.ThereisalsoaprotectiongapagainstcriticalillnessinSingapore,whichrepresentsthefinancialgaptocoveryourneedsintheeventofcriticalillness.Manymayunderestimatethetruefinancialcostsofcriticalillness,whichincludeslossofincomefromwork,medicaltreatments,andothers.Whenyou’reyoungandhealthy,thereseemstobelittleneedtotakeprecautionagainstapotentiallossofincomeduetoillness.Butwithouttherightcoverage,justonemajorhealthissuecanbeamassivefinancialburdenforyouandyourfamily.Havingincomeprotectioncanbecrucialinyourproductiveyears.Here’swhereincomeprotectionhasanimportantparttoplay.Anincomeprotectionpolicyplaystheroleofreplacingyourincomeifyouarediagnosedwithanycriticalillnesscoveredbythepolicy.Itallowsyoutimetorecuperateandprovidesfinancialstabilitysoyoucanfocusonyourphysicalhealth.Whenfacedwithaseriousillness,beingunabletoaffordthefullongoingcostsofyourtreatmentisthelastthingyouneed.Alossofincomecanbeahugeblowifyouhavetotaketimeoffworktorecover,and/orareunabletoreturntotheworkforce.Yoursavingsalonemaynotkeepupwithallthelong-termcosts.Bearinmindthatincomeprotectionplansarenotmeanttoreplaceotherhealthinsurancecovers.Rather,itcanmakeupforwhatMedisaveorhospitalisationinsurancecan’tcover.Basically,you’refreetousetheincomeprotectionpayouthoweveryoulike,whichcanhelprecoverthemany‘unseen’costsassociatedwithacriticalillness,suchasheartattack.Incomeprotectionisparticularlyimportantifyouhavedependants(i.e.children,spouseorparents)whoarereliantonyourincome,astheyarelikelytocontinuerequiringfinancialsupportevenifyouareunabletowork.AXA3CareisanincomeprotectionpolicydesignedspecificallyforthepurposeofgivingworkingadultspeaceofmindintheunfortunateeventofdiagnosisofoneofthetopthreecriticalillnessesinSingapore–advancedstagecancer,heartattack,orstroke.Thepolicyallowsyoutochooseyourincomereplacementbenefitpayoutamountandperiod(12,24or36months)accordingtoyourindividualrequirementsandincreaseordecreasetheamountanytimeduringthepolicyterm,subjecttoconditions. Thecostofobtaining incomeprotection isoftenminimalcomparedtothecostofnothavingadequate protectionagainstlossofincome.PremiumsforAXA3CarecanbeaslowasS$4.99amonth,basedontheprofileofan18-year-oldmale,non-smoker,withtheselectedincomereplacementbenefitof$4000/month&payoutperiodof12months.Thisplanisautomaticallyrenewedeveryyearuptotheageof65(withaminimumentryageof18years).AXA3CareisanexclusiveproductforemployeescoveredunderAXAEmployeeBenefitsonly.YoucanpurchasethisplanifyouareaSingaporeresident,andthecompanyyouworkforiscoveredunderAXA.Tocheckyoureligibility,allyouhavetodoislogintoyourMyAXAappandsignafewdeclarationsofyourgoodhealthwithoutanypaperwork,medicalexaminationoragentsinvolved.Alternatively,youcanlearnmoreaboutAXA3Carehere.IfyouarenotcoveredunderAXAEmployeeBenefits,youmaybeinterestedintherestofAXA’ssuiteofcriticalillnesssolutionshere.Shouldaseriousillnessstrike,fewthingscanbringmorereliefthanknowingthatyourmedicalbillsandlivingexpenses arebeingtakencareofbyaninsurancepolicyyoupurchased.It’scertainlyimportanttohavesomelevelofcoverage,ratherthannoneatall.Havingevenasmallpayoutthatallowsyoutoprovidebasicprotectionforyourselfandyourfamilyisbetterthanfacingfinancialworryincriticaltimes.Disclaimer:Thisarticleisforgeneralinformationonlyanddoesnottakeintoaccountthespecificinvestmentobjectives,financialsituationorneedsofanyparticularperson.TheviewsexpressedhereindonotnecessarilyreflecttheviewsofAXAInsurancePteLtdandshouldnotbeconstruedastheprovisionofadviceormakingofanyrecommendation.Thereisnointentiontodistribute,oroffertosell,orsolicitanyoffertopurchaseanyproduct.Werecommendthatyouseektheadviceofaqualifiedfinancialadvisoryprofessionalbeforemakinganydecisiontopurchaseaninsuranceorinvestmentproduct.Whilstwehavetakenreasonablecaretoensurethatallinformationprovidedwasobtainedfromreliablesourcesandcorrectattimeofpublishing,informationmaybecomeoutdatedandopinionsmaychange.Wearenotliableforanylossthatmayresultfromtheaccessoruseoftheinformationhereinprovided.ThisadvertisementhasnotbeenreviewedbytheMonetaryAuthorityofSingapore.WanttolearnmoreaboutCriticalIllnessinsurance?Leaveyourdetailsbelowandwe'llgetbacktoyou!FirstNameLastNamePhoneNo.AfghanistanÅlandIslandsAlbaniaAlgeriaAmericanSamoaAndorraAngolaAnguillaAntiguaandBarbudaArgentinaArmeniaArubaAscensionIslandAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBoliviaBonaire,SintEustatiusandSabaBosniaandHerzegovinaBotswanaBrazilBritishIndianOceanTerritoryBruneiDarussalamBulgariaBurkinaFasoBurmaBurundiCambodiaCameroonCanadaCapeVerdeCaymanIslandsCentralAfricanRepublicChadChileChinaChristmasIslandCocos(Keeling)IslandsColombiaComorosCongoCongo,DemocraticRepublicoftheCookIslandsCostaRicaCoted'IvoireCroatiaCubaCuraçaoCyprusCzechRepublicDenmarkDjiboutiDominicaDominicanRepublicEcuadorEgyptElSalvadorEquatorialGuineaEritreaEstoniaEthiopiaFalklandIslandsFaroeIslandsFederatedStatesofMicronesiaFijiFinlandFranceFrenchGuianaFrenchPolynesiaGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuamGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHolySee(VaticanCityState)HondurasHongKongHungaryIcelandIndiaIndonesiaIranIraqIrelandIsleofManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKosovoKuwaitKyrgyzstanLaosLatviaLebanonLesothoLiberiaLibyaLiechtensteinLithuaniaLuxembourgMacaoMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshallIslandsMartiniqueMauritaniaMauritiusMayotteMexicoMoldovaMonacoMongoliaMontenegroMontserratMoroccoMozambiqueNamibiaNauruNepalNetherlandsNewCaledoniaNewZealandNicaraguaNigerNigeriaNiueNorfolkIslandNorthKoreaNorthMacedoniaNorthernMarianaIslandsNorwayOmanPakistanPalauPalestinePanamaPapuaNewGuineaParaguayPeruPhilippinesPolandPortugalPuertoRicoQatarReunionRomaniaRussiaRwandaSaintBarthélemySaintHelenaSaintKittsandNevisSaintLuciaSaintMartin(FrenchPart)SaintPierreandMiquelonSaintVincentandtheGrenadinesSamoaSanMarinoSaoTomeandPrincipeSaudiArabiaSenegalSerbiaSeychellesSierraLeoneSingaporeSintMaartenSlovakiaSloveniaSolomonIslandsSomaliaSouthAfricaSouthKoreaSouthSudanSpainSriLankaSudanSurinameSvalbardandJanMayenSwazilandSwedenSwitzerlandSyriaTaiwanTajikistanTanzaniaThailandTimor-LesteTogoTokelauTongaTrinidadandTobagoTristandaCunhaTunisiaTurkeyTurkmenistanTurksandCaicosIslandsTuvaluUgandaUkraineUnitedArabEmiratesUnitedKingdomUnitedStatesUruguayUzbekistanVanuatuVenezuelaVietnamVirginIslands,BritishVirginIslands,U.S.WallisandFutunaWesternSaharaYemenZambiaZimbabweEmailAddressMessage(optional)Ihavereadthe DataUseStatement andIconsenttothecollectionanduseofmypersonaldatainaccordancewithitstermsandconditions.SubmitTAGShealthcriticalillnessKEEPINTOUCHContactUsLinkedInAXA&YOUAboutAXABusinessEthicsUsefulInformationCustomerReviewsCareerFinancialPreparednessSurvey2021BetterLifeIndex2021OTHERSPromotionsMediaGiveDataBackSitemapSchemeofTransferDisclaimerandCopyrightPolicyPARTNERWITHUSAXAAffiliatesKEEPINTOUCHContactUsLinkedInAXA&YOUAboutAXABusinessEthicsUsefulInformationCustomerReviewsCareerFinancialPreparednessSurvey2021BetterLifeIndex2021OTHERSPromotionsMediaGiveDataBackSitemapSchemeofTransferDisclaimerandCopyrightPolicyPARTNERWITHUSAXAAffiliatesFOLLOWAXA:KEEPINTOUCHContactUsLinkedInAXA&YOUAboutAXABusinessEthicsUsefulInformationCustomerReviewsCareerFinancialPreparednessSurvey2021BetterLifeIndex2021OTHERSPromotionsMediaGiveDataBackSitemapSchemeofTransferDisclaimerandCopyrightPolicyPARTNERWITHUSAXAAffiliatesDOWNLOADMYAXAMOBILEAPPAccesspolicies24/7ande-serviceswithMyAXA.AXACONTACTINFO9NorthBuonaVistaDrive,#18-01/06TheMetropolisTower1,Singapore138588Tel:18008804888(WithinSingapore)/+6568804888(International)OurCustomerCentre-AppointmentOnly.Pleasecallourhotlinetomakeanappointment.OpenfromTuesdaytoThursday,excludingpublicholidays.OperatingHours:10amto2pmFOLLOWAXA:PolicyPrivacy©2022AXAAllRightsReservedTop