Critical Illness Plans
What are Critical Illness Plans?
Critical Illness Plans provides coverage against a list of Critical Illness, offering a lump sum payment when you’re diagnosed with a covered critical illness. A Critical Illness Plan is a vital addition to Hospital Shield Plans, as it helps reduce the financial burden of serious illnesses as well as providing compensation for lost of income and covers other expenses during your recovery.
Scary Statistics about Critical Illness
Did you know that 1 in 4 people in Singapore will be diagnosed with cancer, and every day, 16 people lose their lives to cancer? Source: Singapore Cancer Society
Cancer treatment expenses can range from $8,000 to $17,000 monthly. Are you financially prepared to bear this burden if a critical illness were to strike unexpectedly? If your answer is no, you are not financially prepared to fork out this amount of hospital bills and daily expenses, you will defintely need a Critcal Illness Plan.
There are several types of Critical Illness Plans available in the market, including Multipay Critical Illness Plan covering multiple claims across all stages of Critical Illness, Early Stage Critical Illness Plan covering a one time claim against all stages of Critical Illness and Late Stage Critical Illness Plan covering a one time claim against late stage Critical Illness only
Critical Illness Plans can be purchased as standalone policies or added as riders to your Term Life Insurance or Whole Life Insurance. These plans typically do not have a cash value, allowing you to terminate the plan at any time, which will end your coverage
Sample Premiums
30 Years Old Non-Smoker
$100K Multipay Critical Illness Coverage till Age 65 unless otherwise stated
| Insurer | Male Annual Premium | Female Annual Premium |
|---|---|---|
| Singlife Mulitpay Critical Illness | $938 | $1,181 |
| HSBC Life Super Criticare | $872 | $981 |
| Manulife CI Flexi Care | $1,076.20 | $1,241.40 |
| NTUC Income Complete Critical Protect | $1314.20 | $1534.55 |
| TM Multicare (Till Age 70) | $1211.00 | $1412.00 |
30 Years Old Non-Smoker
$100K Early Critical Illness Coverage till Age 65 unless otherwise stated
| Insurer | Male Annual Premium | Female Annual Premium |
|---|---|---|
| Singlife Comprehensive Critical Illness | $801 | $798 |
| FWD Recover First | $868 | $987 |
| Etiqa Essential Critical Secure (Till Age 70) | $890 | $1,095 |
| TM Early Cover (Till Age 70) | $761 | $751.00 |
| Singlife Big 3 | $833.00 | $1,159.00 |
Compare Plans
Policy Term: Till Age 75, 85 or 99
No. of Critical Illness Covered: 137
No. of Special Conditions Covered: 12
Plan Type: Early Stage Critical Illness Plan
Unique Features: Competetive Premiums, Death Benefit embedded in plan
Policy Term: 10 to 85 Years
No. of Critical Illness Covered: 132
No. of Special Conditions Covered: 16
Plan Type: Early Stage Critical Illness Plan
Unique Features: ICU Benefit, Benign and Borderline Malignant Tumour Benefit
Policy Term: Till Age 70, 75 or 85
No. of Critical Illness Covered: 109
No. of Special Conditions Covered: 10
Plan Type: Early Stage Critical Illness Plan
Unique Features: Death Benefit of $20,000
Policy Term: Till Age 70, 75, 80, 85, 90, 96 and 100
No. of Critical Illness Covered: 104
No. of Special Conditions Covered: N.A.
Plan Type: Early Stage Critical Illness Plan
Unique Features: Covers Mental Health, Pays a Monthly Cash Payout for Severe Stage Critical Illness
Policy Term: Till Age 70, 75 and 85
No. of Critical Illness Covered: 111
No. of Special Conditions Covered: N.A.
Plan Type: Multipay Critical Illness Plan (Up to 9x)
Unique Features: No Waiting Period between 2 Early Stage Critical Illness Claim
Policy Term: Till Age 64, 74, 84 or 100
No. of Critical Illness Covered: 124
No. of Special Conditions Covered: 17
Plan Type: Multipay Critical Illness Plan (Up to 10x)
Unique Features: Guaranteed Option to Purchase New Term Plan if Diagnose with an Advance Stage Critical Illness
Policy Term: Till Age 50, 55, 60, 65, 70 and 75
No. of Critical Illness Covered: 111
No. of Special Conditions Covered: 11
Plan Type: Multipay Critical Illness Plan (Up to 6x)
Unique Features: Death Benefit of $10,000
Policy Term: Till Age 65, 75, 85 and 99
No. of Critical Illness Covered: 126
No. of Special Conditions Covered: 10
Plan Type: Multipay Critical Illness Plan (Up to 8x)
Unique Features: Free Child Coverage
Policy Term: 15 Years till Age 85
No. of Critical Illness Covered: 14
No. of Special Conditions Covered: N.A.
Plan Type: Late Stage Critical Illness Plan
Unique Features: Can be bought with Pre-exisiting Conditions. Covers Diabetic Conditions
Policy Term: 10 to 85 Years
No. of Critical Illness Covered: 132
No. of Special Conditions Covered: 16
Plan Type: Multipay Critical Illness Plan (Up to 9x)
Unique Features: No Waiting Period between an Early and Late Stage Critical Illness Claim
Policy Term: Till Age 85
No. of Critical Illness Covered: 37
No. of Special Conditions Covered: N.A.
Plan Type: Multipay Critical Illness Plan (Up to 2x)
Unique Features: Covers Future Unknown Diseases
Policy Term: 10 Years till Age 99
No. of Critical Illness Covered: 44
No. of Special Conditions Covered: N.A.
Plan Type: Early Stage Critical Illness Plan (Up to 2x)
Unique Features: ICU Care Benefit
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