Medical insurance: Over $300,000 to cover for life

It is critical for everyone to boost their CPF savings if they want private hospital care.

The pricing model of medical insurance means the highest premiums will start to kick in when policyholders are in their 80s. ST PHOTO: KUA CHEE SIONG
New: Gift this subscriber-only story to your friends and family

It's one of the few perks about getting old - senior citizens pay less for many things like public transport and movie tickets.

But there is one glaring exception: medical insurance. It gets costlier with every year you age, and it is hardly a luxury item you can trim from your budget.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.