I am a recipient of an insurance policy payout in a lump sum due to my health condition. I am lucky to be paid the amount from my Singapore CPF Great Eastern company. That was in 2006. And I am a firm believer in getting insured as you can never predict what is going to happen in future. You can check out more details in medigap policies and get a free quote for yourself before committing. Currently, I am insured by 2 different companies (Prudential and AIG) and pay monthly via my credit card. It is automatically deducted and I just pay monthly by writing cheques and post them. Insurance is a form of protecting your finances from depleting too quickly in case of accidents or discovery of dreaded diseases where you need to pay doctor’s bills and for medication.

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