Best Cancer Insurance Plan Singapore October 2022

When it comes to Critical Illness conditions, Cancer forms one of the largest factor in terms of chances of diagnosis and getting it, as well as the areas of claims. 

Our biggest asset lies in our ability to earn.  When we compare between an Early and a Late Stage Cancer, it is obvious that the Early Stage cancer usually have a higher survival rate. However it is almost humanely impossible to detect for Early Stage as they are usually discovered through regular body checks. 

What is Cancer Insurance Coverage?

Cancer cases have been on the rising trend over the years and survival rates for people with cancer have greatly improved as well with advancements in cancer treatments. However, living with cancer and pro-longed treatment might drain our savings and cause loss of income. 

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Still unsure about Cancer Insurance Singapore?

Read our article here to find out more, or simply contact us instead!

Why is Cancer Insurance Protection Important?

Cancer may occur to anyone and the fact is that 1 in every 4 Singaporeans are developing cancer in this lifetime. The costs to treat cancer is high, spanning 6- digits of $100,000 to more than $200, 000 every year for advance stages of cancer.

It is vital to have protection coverage for Cancer as it covers from early, intermediate or advance stages. Covering your potential loss of income gives a peace of mind to focus on recovering from the illness as lump sum payout from Cancer Plans certainly work as a form of income protection.

 

As Critical Illness (CI) plans are known as Income Replacement Coverage, Cancer Insurance Plans are a form of CI protection plan, but they cover Cancer as it is most people’s concerns.

Who Is It For?

Are you a breadwinner? Do you have someone depending on your ability to earn? Will it be detrimental for your family members if you were to lose your ability to earn? Cancer plans are for everyone at any stage and as with morbidity rate, they are priced lower the younger the person is.

Cancer Coverage

Pure Income protection. full coverage for early to intermediate to advance stage Cancer to ensure Income protection.

Income Replacement

The most important reason to get Early Stage CI coverage - Providing financial stability when you need it the most and unable to perform at maximum capacity in your profession. It is crucial to get a comprehensive Critical Illness coverage.

Best Cancer Insurance Plans in Singapore 2021

We compare extensively and in depth across the different Cancer Insurance in Singapore. Depending on insurer, for early and intermediate stages of Cancer, some may only pay 25% or 50% of the sum assured and not full. Find out which Insurer pays full at which competitive premiums!

Cancer Insurance Plans

Tokio Marine

Tokio Marine
Protect Cancer

Early Cancer Payout

50%

Advance Cancer Payout

100%

Death Benefit

$5000

No- Claim Discount

No

China Life Insurance Singapore

China Life
Cancer Guardian

Early Cancer Payout

100%

Advance Cancer Payout

100%

Death Benefit

$5000

No- Claim Discount

Yes at 8%

Etiqa Insurance

Early Cancer Payout

100%

Advance Cancer Payout

100%

Death Benefit

$5000

No- Claim Discount

Yes at 6%

NTUC Income
Cancer Protect

Early Cancer Payout

25%

Advance Cancer Payout

100%

Death Benefit

$5000

No- Claim Discount

No

The Winner

5/5

China Life
Cancer Guardian

Paying out 100% of the sum assured for all 3 stages of early, intermediate and advance stage, China Life’s Cancer Guardian is competitive not just with the payout but also with the premiums. With 8% No-Claim Discount, this is definitely one competitive Cancer Plan.

Runner-Up

4.8/5

Etiqa Insurance
Cancer Insurance

In the event for early, intermediate & Advance stage cancer, Etiqa’s Cancer Insurance also covers 100% of the Sum assured. It also has a 6% No-Claim Discount and has one of the most competitive premiums in the market.

Get the Best Cancer Insurance Protection Coverage in Singapore

Cancer Protection plan fills in the gap that are commonly overlooked and replaces your income, providing financial consistency when early to late stage cancer diagnosis.

To find the most suitable coverage, simply fill in the form and a licensed FA advisor will get in touch with you. Based on your needs, a custom made solution will be adjusted only addressing your concerns.

No obligations, no hidden fees. All advice are of no charges.

Frequently Asked Questions

Cancer Insurance Plans are a kind of Critical Illness plans that covers specifically for Cancer. As Cancer is one of the leading major causes of death in Singapore. The amount of diagnosed cases is on the rising trend over the years. Therefore, Cancer Coverage plans only has coverage for Cancer.

They cover from early to intermediate to advance stage of Cancer. However not all Insurers cover fully for all 3 stage, especially the early and intermediate stages. Only certain Insurers cover 100% of Early and Intermediate stages. Most Insurer do pay out 100% for advance stage Cancer.

As Cancer is one of the leading major causes of death in Singapore and the amount of diagnosed cases is on the rising trend over the years. However, most people with existing conditions unrelated to Cancer, for example like heart attack, high BMI or even diabetic patients, are being denied from the usual Critical Illness coverage plans as they have existing conditions, would like to be covered with Cancer protection. 

There is still simplified medical underwriting, but Cancer Insurance Plans give people with conditions a chance to be protected against Cancer.

Yes, not all Cancer Insurance pays out for early and intermediate stage Cancer equally. 

No, you are not over-insured and yes, you will still be able to claim from different insurers. 

2 to 3 years of your annual income is usually adviced, inclusive of any bonuses that you may have. This is because in the event of Early Stage Cancer occurring, you have 2 to 3 years of Income Protection as well as to cover for costs coming from treatment. And frankly, no one goes for 3 years chemotherapy sessions. 

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