- Cancer insurance is a standalone term plan that covers all stages of cancer
- Cancer insurance will provide a lump sum payout upon diagnosis of early, intermediate or advanced stage Major Cancer
- Cancer insurance typically offers affordable premium and simplified underwriting for easy application
- Depending on the insurance providers, the sum assured payout will depends on the stage of the Major cancer
- According to MOH1, Cancer is the number one principal cause of death in Singapore
- From April 1, 2022, to address the concerns about rising healthcare costs and the need for greater transparency in insurance coverage, integrated Shield Plans (IPs) will no longer offer "as charged" coverage for cancer treatment.
- Cancer insurance can help alleviate any financial burden that can come from treatment cost.
- Cancer insurance will provide a lump sum pay-out to the insured in the event of cancer diagnosis. The lump sum pay-out can be used to pay for any living expenses cost, medical cost or be as a form of income replacement if the insured is unable to continue working.