Life-cycle investing

Ensuring adequate health cover is top concern

Mr Ng Kia Chiang with his daughter Kimberly, who starts work in September. Mr Ng says it is a big relief emotionally and financially that she has completed her medical degree.
Mr Ng Kia Chiang with his daughter Kimberly, who starts work in September. Mr Ng says it is a big relief emotionally and financially that she has completed her medical degree.ST PHOTO: SHINTARO TAY

Sales director believes insurance for high medical costs can help safeguard one's savings

Sales director Ng Kia Chiang speaks from personal experience when he says his top financial concern is having comprehensive medical coverage. Mr Ng, 56, says: "I'm a firm believer that we have to be adequately covered, especially when it comes to any major illness."

His 80-year-old mother's kidneys have been deteriorating and she started dialysis a year ago. Her monthly kidney-related expenses amount to about $2,800 after subsidies. This is being shared among Mr Ng and his three siblings.

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A version of this article appeared in the print edition of The Sunday Times on July 07, 2019, with the headline 'Ensuring adequate health cover is top concern'. Print Edition | Subscribe