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What is Critical Illness Insurance?

Critical illness insurance provides a lump sum payout upon diagnosis of a covered critical illness, offering financial support during challenging times. These illnesses are categorized into Early, Intermediate, and Severe stages, with coverage varying across insurers. The payout serves as a financial safety net, helping cover expenses like medical bills, daily living costs, or income loss due to inability to work.

 

Singlife Multipay Critical Illness II is a standout multipay critical illness plan in Singapore, designed to offer comprehensive coverage across multiple stages and recurrences of critical illnesses. With enhanced features and flexibility, it’s tailored to meet diverse financial needs, ensuring robust protection for policyholders.

 

Singlife Multipay Critical Illness II at a Glance

  • Flexible Coverage: Available as a standalone plan or as a rider to a main term plan, with coverage terms from 10 years up to age 99 (Age Next Birthday, ANB), adjustable in one-year intervals.

 

  • Multi-Claim Payouts: Pays 100% of the Sum Assured (SA) for Early, Intermediate, or Severe Stage Critical Illness within the same CI group, claimable up to 6 times (totaling 600% of SA), with a one-year waiting period between claims.

 

  • Extensive Coverage: Covers 135 conditions across Early, Intermediate, and Severe stages, providing one of the most comprehensive critical illness coverages in the market.

 

  • Premium Waiver: Premiums are waived upon diagnosis of the first Severe Stage Critical Illness, ensuring continued coverage without financial strain.

 

  • Advance Care Option: Offers an additional 75% of the SA upon the first Severe Stage Critical Illness diagnosis for eligible conditions (e.g., Major Cancer, Heart Attack, Stroke). Exercising this option terminates the Recurrent Critical Illness Benefit.

 

  • Recurrent Critical Illness Benefit: Pays 150% of SA per claim (up to 2 claims) for specified recurrent Severe Stage Critical Illnesses, such as re-diagnosed Major Cancer or recurrent Heart Attack, with a two-year waiting period between claims.

 

  • Special Benefit: Provides an additional 20% of SA (up to S$25,000) upon diagnosis of any of the 34 covered conditions, enhancing financial support for specific health events.

 

  •  Intensive Care Benefit: Offers an additional 20% of SA (up to S$25,000) if the insured is admitted to the ICU for 4 days or more due to illness or accident in one hospital admission.

 

  • Benign and Borderline Malignant Tumour Benefit: Pays an additional 20% of SA (up to S$25,000) upon complete surgical excision of a benign tumour (suspected malignancy) from specified organs or diagnosis of a borderline malignant tumour.

 

Conclusion

 

The Singlife Multipay Critical Illness II is a best-in-class critical illness plan, offering unmatched flexibility, extensive coverage, and financial security. Its multi-claim structure, premium waiver, and additional benefits like ICU and benign tumour coverage make it a top choice for those seeking comprehensive protection against critical illnesses. Whether you’re looking for a standalone plan or a rider, this plan adapts to your needs, ensuring peace of mind in the face of life’s uncertainties.

 

For personalized advice or to explore how Singlife Multipay Critical Illness II fits your financial plan, contact a licensed financial advisor today.

 

 


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