Why Cancer Insurance?

 

Cancer is the number #1 critical illness that results in death in Singapore. Unfortunately, the incidence of Cancer cases have been rising over the years and the number of people living with cancer will continue to increase. As such, cancer insurance in Singapore has become more popular to supplement critical illness insurance plans.

 

Risk of cancer can be affected by several factors such as environment, lifestyle, the use of tobacco products, and also family heredity. 

 

According to statistics*, the most frequent cancer reported for males and females from 2015 – 2019 are:
Males: Colorectal, Prostate and Lung cancer
Females: Breast, Colorectal and Lung cancer

 

Financial stress associated with cancer

 

There are several ways to treat cancer, depending on the stage and severity of the cancer diagnosis. Treatment can be in the form of chemotherapy, radiotherapy and surgery.

 

While the period of treatment may vary amongst cancer patients, it is expected that the person will not be able to work for a prolong period of time. During this period, there will still be living expenses, medication cost, home modification and transport cost to pay for.

 

To add on, with health cost increasing fast than the 'normalized' rate of inflation of 2%, it is ever more important to have comprehensive cancer insurance coverage to protect against any potential financial stress upon cancer diagnosis.

 

Fortunately, applying for Cancer insurance plans in Singapore is easy and hassle free with simplified underwriting questions to qualify. Premiums are kept affordable with no medical checkup required.

 

 

Best Cancer Insurance in Singapore

 

Insurer Income China Life Tokio Marine
Cancer Insurance Plan name Cancer Protect China Life Cancer Guardian TM Protect Cancer
Choice of Sum assured:

- $50,000

- $80,000

- $100,000

Plan 1: $100,000
Plan 2: $150,000
Plan 3: $200,000
Plan 4: $250,000
Plan 5: $300,000
Between $50,000 to $150,000
Death Benefit $5000 $5000 $5000
Payout upon Early/intermediate Cancer Diagnosis 25% of sum assured 100% of sum assured 50% of sum assured
Payout upon Advanced Cancer Diagnosis 125% of sum assured, less any early cancer payout that has been paid 100% of sum assured, less any early cancer payout that has been paid 100% of sum assured, less any early cancer payout that has been paid
Guaranteed Renewability Policy will be renewed automatically at every 10 years at the same sum assured till age 84 Policy will be renewed automatically at the end of policy term for another 1 year at the same sum assured till age 99 Policy is guaranteed renewable. Premium will be revised based on age band upon renewal.
Additional Features Accidental death benefit of 100% of sum assured before the age of 70 No Claim discount of 8% from the 2nd policy renewal year NA

 

Finding the best cancer insurance in Singapore can be challenging, so we've done the research for you. Get the best cancer insurance plan in Singapore for you and your family. Our partnered financial advisors will provide you with quotes from the market's leading insurers so that you can choose the best cancer Insurance for your needs and budget.

 

*Source: https://www.nccs.com.sg/patient-care/cancer-types/cancer-statistics


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