This post was written in collaboration with Singlife. While we are financially compensated by them, we nonetheless strive to maintain our editorial integrity and review products with the same objective lens. We are committed to providing the best recommendations and advice in order for you to make personal financial decisions with confidence. You can view our Editorial Guidelines here.
As Singaporeans live longer and enjoy standards of living only developed countries get to envision, your chances of dying in a shooting or by catching the ebola virus might be almost negligible, but the likelihood that you’ll get cancer is not as low. With one in every five people in Singapore1 developing cancer in their lifetime, cancer is currently the leading cause of death in Singapore2.
With concern about cancer rising, insurers have been releasing new cancer insurance plans over the past couple of years. However, cancer plans can vary quite significantly.
Singlife’s new Cancer Plan and Cancer Plus Plan are designed to help you get better coverage against cancer. Here’s how:
Affordable premiums
If getting insurance protection against cancer was dirt cheap, everyone would have it. Unfortunately, critical illness insurance and cancer insurance plans tend to be quite expensive, and are frequently viewed as optional rather than essential, and only for those who have spare cash.
Singlife’s Cancer Plans buck the trend, with payable premiums starting from as little as $2.60 per month3. By keeping cancer protection affordable, Singlife hopes to enable everyone to get the coverage they need.
No need for medical review
One thing that deters people from taking up critical illness plans is the need to go through a tedious medical review to ascertain whether you can be insured, or determine the premiums you need to pay. As critical illness plans generally cover a wide range of critical illnesses, the thoroughness of understanding one’s current state of health is necessary to provide the insurance coverage as required. However, having to go for medical tests or answering long questionnaires about health and family history can be considered as a hassle for some.
Thanks to Singlife’s hassle-free online application process, you only have to answer two health-related questions to assess if you can be insured under the Cancer Plan and Cancer Plus Plan. This makes your application journey simple and quick, focusing on getting you the cancer insurance coverage that you are looking for.
Comprehensive coverage for early to late stage cancers
When cancer strikes, dealing with it can take a much longer time than other illnesses. There is always the chance that it will recur. All this means that cancer plans should offer comprehensive coverage from early- to late-stage cancers. Unfortunately, some cancer plans only offer coverage for single occurrence of cancer at a late stage.
Singlife’s Cancer Plus Plan is the first cancer plan in Singapore to offer recurrence coverage of up to 100% of the sum assured. This means that in the unfortunate event of cancer recurrence, you will be covered under the plan4.
Benefits
In a nutshell, here are some key benefits of Cancer Plan and Cancer Plus Plan:
| Benefits | Cancer Plan | Cancer Plus Plan |
| Major cancers (late stage) | ✓ 100% of sum assured |
✓ 100% of sum assured (less previous payouts) |
Early-stage cancers:
|
✓ 25% payout of the sum assured |
|
| Intermediate-stage cancers: Carcinoma in situ of specified organs treated with Radical Surgery |
✓ 50% payout of the sum assured |
|
| Recurrence for early and intermediate stage cancer | ✓ |
As you can see, Cancer Plan protects you for major late stage cancers, while Cancer Plus Plan offers comprehensive coverage from early to late stage cancers, as well as recurrence for early and intermediate stage cancer.
Cancer Plus Plan pays out 25% of the sum assured if the insured is diagnosed with an early stage cancer, or 50% of the sum assured if the insured is diagnosed with an intermediate stage cancer. Should the cancer recur, the plan offers recurrence benefits up to the balance of the sum assured. So, if the insured has claimed 25% of the sum assured for an early stage cancer, he or she will stil bel covered for up to 75% of the sum assured if the cancer recurs.
Protection made easy
It is that simple and easy for you to get the coverage today:
- Fast online application — The application is quick and fuss-free. Simply apply online and enjoy the convenience of instant policy issuance upon approval.
- Fully digitised and paperless — All policy documents, alerts and invoices are digitised and paperless, so you don’t have to worry about checking your letter box for snail mail of policy documents.
- Auto-renewal feature — The policy will be auto-renewed at the end of the policy term if no claims have been made under your policy. You can be assured of continuous coverage with this feature, no action is required from you.
As scary as it sounds, cancer is something that is going to impact a significant percentage of us. As this is a disease that may require a long period of treatment and can be very costly, it’s easy to see why getting cancer coverage is a good idea.
Luckily, Singlife has made it easy to get the essential coverage with affordable plans that can be applied for in a flash.
Find out more about Singlife’s Cancer Plan and Cancer Plus Plan here.
1Cancer Incident in Singapore, National Cancer Centre Singapore
2Principal Causes of Death, Ministry of Health
3 Based on a 10-year Cancer Plan with S$20,000 cover for a 30-year-old male non-smoker. Premium rates are not guaranteed and may be adjusted based on future claim experience.
4 Subject to policy Terms and Conditions.
Disclosure: This post is written in collaboration with Singlife. The information is meant purely for informational purposes and should not be relied upon as financial advice. For your financial needs, you should seek advice from a licensed representative for customised advice.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Information is accurate as at 27 November 2019.
Protected up to specified limits by SDIC.
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