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  • Category: Miscellaneous

    Do you keep aside some amount for urgent medical attention?

    Even though many of us are having very small family of two children , husband and wife, there are every chance of one getting into ill mode and suddenly we cannot cope up the required money for urgent medical attention. It has become imperative to have either health Insurance or save some money on every family member name for the future exigencies. Though some have have the medical health cards, they are not useful for small ailments and needing urgent doctors attention. Do you keep aside some amount for urgent medical attention?
  • #688790
    No. I do not keep any special money for such purpose. Because I always feel healthy, perfect and fit and don't anticipate any health problem and face the doctor. If at all something happens to me or my family, I would meet the expenditure from my savings bank account which will have sufficient money to meet any emergency requirement.

    Unlike the past days where we had to run pillar to post to get a loan from someone, these days it is very easy to get money with our credit cards. Of course, the interest rate is high, but we can tolerate and afford paying that amount to save our lives.

    Instead of keeping an amount, holding a credit card is the best option to meet any emergency requirements.

    No life without Sun

  • #688836
    The cost of medicines and treatment is increasing day by day and one has to plan ones savings from that angle also. The first thing is to go for a comprehensive health insurance so that in case of an operation one can get it directly met by the insurance company. In absence of proper insurance it sometimes becomes a big financial loss to the individual if he or the family members get ill seriously. We always pray to God that no one should fall ill but bad luck can strike anytime and once a person falls seriously ill then the most important thing at that time becomes the managing funds for treatment. So it is better to keep that in mind.
    Knowledge is power.

  • #688856
    Generally what I do is I use my cards if there is any urgent requirement of funds. It may be for some unexpected travel or some unexpected expenditure for up keeping the heath or any other such works. Then I will pay that amount based on the time available and if necessary I go for EMIs. In addition to cards, I keep some amount in SB Accounts to use for urgent requirements. This amount as well as the cards will be useful for such requirements.

    I have a health insurance policy which will take care of heavy expenses and the limit I have is very much sufficient for amounts up to five lakhs. Similarly all my family members are having heath insurance. So heavy expenditure will be taken care by that policies.

    drrao
    always confident

  • #688962
    Yes, we always keep a considerable amount of liquid money in bank for medical reasons. My family includes old in-laws and at this age, the medical emergency is always uncertain. Although we have their health insurance, still we keep some cash ready for such instances. Secondly, nowadays even a simple illness can bring you a big bill on which you cannot negotiate. So, it is better to keep things simple.
    Padmini

    Living & Learning- simultaneous processes!

  • #688966
    it reminds me of this thread .. https://www.indiastudychannel.com/forum/167282-story-energy-savings-saved-my-life

    Insurance is the way to go ....

    Wants are like horses as a rider we need to use the horse halter wisely in order to reach our desired destination safely-- Bhushan

  • #689070
    It is true that we have to keep some amount for emergency purposes like medical or other expenditures but to be true, every time I plan to make a contribution, I have some other priorities and the money is used for that purpose and I fail to keep some money for an emergency. As mentioned by many members, Health or medical insurance should be bought for every member so as to save high expenses during an emergency but still could not close down to a good health/medical insurance company. By God's grace, I have not made any attempt to make an emergency funding for medical or other purpose but I know due to viral fevers and other diseases, it is always better to have good medical insurance or to keep aside some amount for any medical emergencies. It is also good to have either a credit card as it will help to get an additional amount in terms of need. After going through the post, I am trying my best to close down my medical insurance search and to subscribe with one to be on the safer side.
    “The most important thing in life is to learn how to give out love, and to let it come in." — Morrie Schwartz

  • #689097
    Of late, I have realised the importance of saving some money so the same can be utilised in the wake of medical emergency though we couple have the medical facilities with the United India Assurance but there is a limitation beyond which they would not pay any amount exceeding the limit stipulated for each disease. For heart ailment, surgical operation has been capped at Rs 1.25 lakhs and as such the shortfall has to be compensated by the hard earned cash. In almost all diseases, such applicability holds good. We the retired employees feel money crunch due to lesser earning of intersts from the banks due to frequent downward revision of interests. In the years ahead, it would be difficult to sustain the medical expenses unless supported by our kids.

  • #689100
    It is good to keep some amount of money saved in the bank for some major disease if someone suffers from in the future.

    Getting medical insurance policies is a very good option as it covers many diseases where a person needs to be hospitalised and has to spend lots of money. But still, there are people who don't have the mediclaim policy as they think they won't need any major medication but that's wrong as no one knows the future.

    As far as I am concerned I do keep some amount of money in the bank a count in the form of a fixed deposit to cater such issues if occur in life and all of us should do it.

    Sanjeev

    " The two most important days in your life are the day when you are born and the day you find out why? "
    – Mark Twain


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