5 ways medical loans can help save your life

As a Singaporean, if you think that having a MediSave and MediShield Life as basic health insurance plans administered by the Central Provident Fund (CPF) are sufficient to save your life when a medical emergency occurs, think again.

Healthcare, like many other rising costs of living in Singapore, can easily rack up thousands of dollars. Having a MediSave, MediShield Life and even basic hospital and accident insurance plans are simply not enough to protect you in the event of a dire medical emergency. A dire medical emergency can involve anything from a major surgery to cosmetic procedures not covered by your insurance.

At Galaxy Credit, we think that a medical loan is just as essential as any insurance plans out there for it’s accessibility, flexibility and convenience. Here are 5 ways we think a medical loan can help save your pocket and your life in the unfortunate event of a medical emergency.

5 ways medical loans can help save your life

As a Singaporean, if you think that having a MediSave and MediShield Life as basic health insurance plans administered by the Central Provident Fund (CPF) are sufficient to save your life when a medical emergency occurs, think again.

Healthcare, like many other rising costs of living in Singapore, can easily rack up thousands of dollars. Having a MediSave, MediShield Life and even basic hospital and accident insurance plans are simply not enough to protect you in the event of a dire medical emergency. A dire medical emergency can involve anything from a major surgery to cosmetic procedures not covered by your insurance.

At Galaxy Credit, we think that a medical loan is just as essential as any insurance plans out there for it’s accessibility, flexibility and convenience. Here are 5 ways we think a medical loan can help save your pocket and your life in the unfortunate event of a medical emergency.

Pay off your medical bills with ease

Some insurance policies require you to pay for your medical bills upfront while they process your claim and reimburse you. This often takes a longer time than expected. Some medical emergencies are urgent and you do not have the luxury of time to wait for your insurance to check if the medical condition is covered before you undergo any treatment and surgery.

A medical loan comes in handy in such situations where you have to undergo an urgent treatment or surgery but lack the sufficient funds while waiting for your insurance payout. It can help you focus on getting the treatment you need and pay off your medical bills with ease.

At Galaxy Credit, we process your medical loans in less than an hour. In the event of an emergency, when your hands are tied and financial assistance is scarce, we are here to offer a helping hand.

Pay off medical conditions and treatments not covered by insurance

Alluding to the previous point, insurance policies have certain restrictions and limits when it comes to conditions and treatments they cover. Unless you are paying a premium amount each month, it is unlikely that your insurance plan covers your entire medical bill or a wider range of conditions than necessary. If you already have an existing insurance plan or are looking to sign up for one, make sure to check through the terms carefully to see the coverage the insurance companies offer.

On top of that, there are limits to MediSave and MediShield Life withdrawals. If the above can’t cover a portion of your medical bill, you would have to dip into your cash savings. If, unfortunately, you don’t have sufficient savings to pay off the remainder of your medical bills, a medical loan is your next best option for a quick and simple solution.

Paying for your family’s medical bills

If you are the sole breadwinner of your family or have dependents, you will most likely have to pay for their medical bills if they fall critically ill. At Galaxy Credit, you can apply for medical loans to help pay off your family member’s medical bills. When you need cash fast, a medical loan can come in handy especially if there are recurring monthly bills for dialysis and treatments that can cost thousands of dollars every month.

Low and simple interest rates

If you have to take out a medical loan, Galaxy Credit offers low and simple interest rates from just 2.27% per month*. In the event of a medical emergency, the last thing you would want is to chalk up high interests from bank loans or credit cards if you do not have cash savings to tap into.

As a licensed and reputable moneylender in Singapore, Galaxy Credit strictly adheres to the Moneylenders Act and cap our interest rates at 4% per month. When it comes to life and death, we believe that money should be the least of your worries and if a timely medical loan can help save a life, a low interest rate is a small price to pay.

Our medical loans also require no collateral, which means you do not have to worry about your property or assets when you apply for a loan with us.

You can use the medical loan for various treatments

Unlike MediSave, MediShield Life and insurance plans, our medical loans can be used for almost any medical and cosmetic purposes such as:

  • Plastic and cosmetic surgery such as facelifts, facial contouring and other body contouring procedures
  • Orthodontics and cosmetic dentistry such as braces, Invsalign and dentofacial orthopedics
  • LASIK and various optical procedures
  • Fertility treatments such as fertility drugs, intrauterine insemination (IUI) and in vitro fertilization (IVF)
  • Weight-loss surgeries and treatments such as bariatric procedures
  • Hair transplants

Our medical loans cover a wide range of medical and cosmetic procedures. Even if you may be low on funds for a brief period of time, you can still go for the treatment you need with our affordable and accessible medical loans.

The sole purpose of our medical loans is to provide our customers with a reliable and fuss-free alternative to get the medical treatments they need. A temporary sticky financial situation should not hinder anyone from getting the medical treatments they urgently need. No matter the reason for a medical loan, for health or beauty, Galaxy Credit is here 24/7 to assist and offer you our customizable packages suited to your every need.

Time waits for no man especially in a medical emergency. Every second counts. For a quick and simple medical loan solution, contact us today to find out more.

*The interest rate is subject to approval.

Galaxy Credit

Galaxy Credit & Investments Pte Ltd leverage on the expertise to offer a set of realistic loan solutions that help you alleviate your financial liabilities whether it is personal or business.
License Number 181/2019

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