Last Updated on by Tree of Wealth
Prolonged life expectancy opens up an expanded horizon for achieving our ambitions. Yet, it concurrently broadens the timeframe in which we could potentially encounter and endure life-threatening illnesses (CIs). Cancer, heart attack, and stroke, also known as the Big 3 CIs, pose substantial risks to both your health and financial stability.
In response to this triad of significant health threats, Singlife offers the Big 3 Critical Illness plan. This comprehensive package provides double the assured amount for instances of cancer, heart attack, stroke, and 13 other specific heart and neurological conditions. It additionally offers compensations for other serious illnesses and extends coverage for stays in hospital intensive care units (ICUs).
The Singlife Big 3 Critical Illness Plan Features at a Glance
Offers a 200% payout on your assured sum
You stand to receive twice the assured amount for instances of cancer, heart attack, stroke, and 13 other specific heart and neurological conditions, applicable at the early, intermediate, or severe stages.
Provides coverage for 44 severe-stage Critical Illnesses
Benefit from 100% of the assured sum for the remaining 44 severe-stage Critical Illnesses¹, excluding Cancer, Heart Attack, Stroke, and the 13 specific heart and neurological conditions.
Additional aid for ICU (Intensive Care Unit) expenses
You stand to receive an additional 20% of your assured sum if you’re required to stay in an Intensive Care Unit (ICU) for four or more consecutive days during a single hospital admission², capped at S$25,000 per life. Do note, only one claim can be made under this benefit. This ICU stay must occur in a Singapore hospital and be confirmed as Necessary Medical Treatment. If it’s determined that the Life Assured could have been safely and effectively treated in a different facility, the ICU stay won’t be considered as Necessary Medical Treatment. This benefit concludes when a claim is made, on the Policy Anniversary when the Life Assured reaches 85, or when the plan expires, whichever happens first. A waiting period and survival period apply. For a more detailed understanding of the benefit terms and conditions, please refer to the Product Summary.
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Extended support for heart procedures
Under the Special Benefit provision, you’ll receive an additional 20% of your assured sum for angioplasty and other invasive coronary artery treatments (maximum limit of S$25,000 per life).
Coverage for untimely demise
The standalone plan provides a lump-sum benefit of S$5,000 to your dependents in the unfortunate event of your passing.
Tailor your coverage period
You have the flexibility to choose your coverage duration – starting from 10 years up to the age of 99 years (in one-year increments). The standalone Singlife Big 3 Critical Illness plan offers these coverage options. Alternatively, if you’re considering the Singlife Big 3 Critical Illness Cover that can be attached to term life insurance as a rider, the coverage durations start from 11 years, stretching until 99 years of age, or any period in between (in yearly increments).
You also have the choice of your coverage amount’s currency. In cases where your coverage amount isn’t denominated in Singapore dollars, any benefit limit stated in Singapore dollars will be translated into the corresponding amount in your selected currency, based on our prevailing exchange rates.
Flexibility As a Standalone Policy or Supplementary Benefit (Rider)
Based on your individual coverage needs, opt for the standalone critical illness plan complete with a death benefit if that’s what you require. Alternatively, if you’re seeking to bolster your term life insurance with critical illness coverage, the rider would be your go-to option.
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The Singlife Big 3 Critical Illness Works
Premium Comparison
Male 35 Years Old To Age 65
|
Sum Assured |
Premium |
|
$50, 000 |
$614.35 |
|
$85, 000 |
$1, 044.4 |
| $100,000 |
$1, 117 |
| $175, 000 (Maximum) |
$1, 954.75 |
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Female 35 Years Old To Age 65
|
Sum Assured |
Premium |
|
$50,000 |
$846.70 |
| $85,000 |
$1, 434.30 |
|
$100,000 |
$1, 534 |
| $175, 000 (Maximum) |
$2 ,684.50 |
source: Singlife
The Singlife Big 3 Critical Illness plan could be ideal for:
- Individuals on the hunt for a cost-effective initial critical illness policy that offers more substantial protection during the early, mid, and advanced stages of cancer, heart attack, and stroke, as well as for specific heart and neurological ailments. The plan also caters to severe stages of other critical illnesses, though in a somewhat reduced capacity.
- Those who already have a critical illness policy and are aiming to elevate their coverage levels, particularly during the early, intermediate, and advanced stages of cancer, heart attack, and stroke, along with certain heart and neurological disorders. This plan also provides coverage for severe stages of other critical illnesses, albeit to a slightly lower degree.
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This plan may not be the best choice for:
- Individuals seeking comprehensive coverage for all stages of a wide range of critical illnesses.
- Those who expect to receive cash values or a regular cash return from this policy.
- Individuals searching for a plan with savings elements or capital guarantee features.
- Those seeking options for investment funds or the flexibility to modify their coverage as provided by an Investment-Linked Policy (ILP) product.
The Singlife Big 3 Critical Illness plan provides a comprehensive coverage strategy tailored to your individual needs and lifestyle. It not only includes substantial provisions for major health concerns like cancer, heart attack, and stroke, but also supports you during ICU stays and invasive heart treatments. With the flexibility to choose your coverage duration and currency, this plan is designed to offer you peace of mind.
To understand how this plan can work best for your personal circumstances and long-term financial planning, we strongly encourage you to get in touch with one of our dedicated financial advisors.
Let’s work together to ensure you’re prepared for whatever life throws your way.
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