6. Reflection After Claiming
Mr Mansfield Lai's Words
“I suddenly felt as though I had forgotten what had happened two days ago”, said one anxious client of mine calling me by midnight two weeks ago. He was asking for my views and gave me a hint that his condition might be symptoms of a stroke.
I urged him to visit the hospital immediately for a check up. In two days’ time the doctors at the hospital were unable to identify the cause of his problems. His condition deteriorated very quickly in a few days and was sent to the intensive care unit (“ICU”). On the first day when he was inpatient, the estimated medical expense was HK$70,000. It was HK$900,000 upon his admission to the ICU.
That unexpected turmoil in life has been shielded by a [Premium Medical Policy], which was prepared by him a decade ago for himself and his family. As his financial planner, I assisted his medical insurance claim procedures. In less than two days, our company has approved his claim and issued the guarantee letter that guarantees his medical expenses are to be covered by his insurance policy. My client and his family were lucky enough to avoid the suffering of keeping an eye on the exorbitant medical expenses and were able to focus on the healthcare and recovery process free from financial pressure.
The client has now largely recovered and his life back on track. I wonder, as financial planners we were often told by clients that they cannot afford to pay the premium given their current expenditure, savings plans or because of other reasons. They nevertheless are always paying for one cup of latte every morning and going to yoga classes every weekend. Some live a fancy lifestyle by going onto overseas vacations several times a year or to purchase a luxury brand handbag every season. What they cannot afford does not appear to be the medical insurance premium itself, but their own lifes. They value their lifestyle more than they do value their own health and the wellbeing of their family.
Afterall, this is really a question of personal choice.