Why Cancer Insurance?
Cancer coverage of Integrated plans will change from 1 April 2023. With the new changes by MOH, Outpatient Cancer Treatment benefit will be replaced with 2 new benefits: Cancer Drug Treatment benefit and Cancer Drug Services benefit. More importantly to note from is that there will be no “as-charged” cancer coverage benefits for Integrated shield plans.
Cancer insurance will provide a lump sum payout to the policyholder upon diagnosis of cancer. The lump sum payout can help pay for necessary treatment cost, and also provide a cushion for the family living expenses.
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.
As such, let us compare the best cancer insurance in singapore for you.
Best Cancer Insurance in Singapore
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.