Critical Illness Insurance Singapore |
+6584074152 |
Critical Illness Insurance Singapore |
+6584074152 |
Critical Illness Insurance
The risk of developing a critical illness increases as people get older, Critical illnesses are often associated with aging but can strike at any time. With the increasing diagnoses of long-term illnesses and surgeries, discover why critical illness insurance in Singapore has become necessary. What is critical illness insurance? Traditional health insurance has limits. The typical patient with a critical illness requires at least five years of long-term care and treatment. Critical illness insurance pays a lump sum if a covered patient is diagnosed with a critical illness, and for specific types of surgery covered by the policy. Benefits are paid only if the surgery or critical illness meets the definition in the policy. Often there is a waiting period for certain types of surgery or illnesses. No benefits are paid if the surgery is rendered or the illness diagnosed during the waiting period. Smaller amounts might be paid for earlier stages of cancer. Several payments could be made upon the diagnosis of additional insured critical illnesses, per the policy limits. What is covered under critical illness insurance? Critical illness insurance in Singapore covers a list of 37 critical illnesses. Periodically, the LIA of Singapore reviews the definitions of current critical illnesses to ensure the list is updated. More than 90 percent of severe stage claims under critical illness insurance in Singapore is for five critical illnesses, including cancer, heart attack, stroke, coronary artery bypass surgery, and end-stage kidney failure. Cancer is the number one killer in Singapore and the medical cost for the treatment is beyond the salary of majority of Singaporeans. |
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