Everything You Should Know About Medical Loan in Singapore
We all want to be healthy and free of any sickness and health conditions. It is easier to deal with life situations when we and our loved ones are doing well. As the old saying goes, “Health is wealth”. When we are healthy, no matter our status in life is, we know that we are on safe ground.
Life is unpredictable, though and a medical emergency can occur at any moment. What’s worse about medical emergencies is that they do not only put strains in our physical and emotional health. Having sickness or nursing a loved one with a medical condition is a strain in our budget as well. More so when the medical condition is unexpected, a huge sum of expenses should be expected.
During medical emergencies, obtaining funds to sustain the hospital bills should be done fast and easily. After all, most emergencies involve a life or death situation. In these cases, medical loans are extremely important.
What is a medical loan?
When a medical emergency arises, you will realize that there are many things that your health insurance doesn’t cover. The purpose of a medical loan is to fund the medical procedures outside your health insurance. Medical loan in Singapore covers many operations and medical procedures.
How to qualify for a medical loan in Singapore?
Medical loans, like many money loans in Singapore, has several requirements. It is better to know the requirements and procedures in getting medical loans so you are prepared when trying times occur.
In Singapore, the following conditions are commonly asked when applying for medical loans:
- You must be a legitimate citizen of Singapore and of legal age.
- Some medical loan providers are requiring at least three months of stable work for applicants of medical loans.
- Proof of identity, billings, and income is also requested when applying for medical loans.
Other requirements are requested exclusively by certain lenders. It is better to negotiate with your moneylender for more detailed information.
How to apply for a medical loan?
If you are in need of financial assistance for medical emergencies, please do not hesitate to reach us. We aim to help Singaporeans get through tough situations.
