Being diagnosed with a critical illness can be emotionally and financially draining. With proper planning, you can focus on getting well. Part of it includes finding the right critical illness insurance plan.
Do you remember the first time you caught a glimpse of your little one? Many parents describe it as feelings of immense and unconditional love, and instant happiness.
All you wanted to do was to be there for them no matter what and to provide the best for them. While it is natural to protect your family from dangers in their immediate environment, you should also safeguard their future.
Overwhelmed by the demands of having a family with young children and old dependents, many people may neglect the importance of ensuring that they have adequate coverage to be financially stable and have peace of mind should a critical illness strike.
When critical illness strikes
Unfortunately, after a critical illness (CI) claim, many plans on the market will cease to provide coverage on their existing CI plan as they terminate upon claim.
This group of people is also denied new insurance coverage, as insurance companies are unwilling to accept them. Even if they do, their previous conditions will be excluded.
Patients diagnosed with CI may require long treatments, frequent checkups, follow-ups and tests. These medical costs could snowball over time, making it a financial burden even if one has an Integrated Shield Plan or MediShield Life Plan in place.
Rising critical illness incidences – What you need to know
- While more people in Singapore are diagnosed with cancer, the country’s top cause of death, modern medical advancements have significantly improved the survival rates of those with this disease.
- Findings from a recently released study found that the rates of men who survived cancer increased 13.2% from 1973 to 1977 to 48.5% in 2008 to 2012.1
- In the same study, it also found that survival rates of women diagnosed with cancer also doubled from 28% to 57.1% during the same period.
Learn more about AIA Triple Critical Cover on the next page…