Cancer Insurance

“Better to have, and not need, than to need and not have.”

According to health statistics in Singapore, Cancer is the top 2 conditions that lead to hospitalisation and the number 1 principal cause of death in Singapore.

Source:
https://www.moh.gov.sg/resources-statistics/singapore-health-facts/top-10-conditions-of-hospitalisation
https://www.moh.gov.sg/resources-statistics/singapore-health-facts/principal-causes-of-death

Therefore it is not surprising that 1 in 4 people in Singapore may develop cancer in their lifetime.

Thankfully more than 80% of the patients diagnosed with early stage cancer survived.

Above 2 data is according to the National Registry of Diseases Office, Singapore Cancer Registry, Singapore Cancer Registry 50th Anniversary Monograph (1968 – 2017), data period from 2013-2017.

But according to a study by Life Insurance Association of Singapore, most Singaporeans are under-insured in the event of cancer.

So patients who survive usually will face certain financial hardships during the cancer recovery period where they are unable to continue full employment to support their lifestyle needs. Household expenses and mortgage loans make up the bulk of the lifestyle needs.

Source:
https://www.lia.org.sg/news-room/media-releases/2018/life-insurance-industry-boosting-efforts-to-bridge-singapore-s-s-893-billion-mortality-and-critical-illness-protection-gap/

Thankfully Cancer Insurance coverage will help pay you a lump sum of money so that you can still maintain your lifestyle even when you are ill.

This is not the same as your typical life insurance that only pays when you are dead, going to die soon or permanently disabled.

It is also misunderstood with medical insurance which pays your hospital bills only.

I call it a “Living Insurance” that pays you to survive and live well.

It is always better to have, and not need, than to need and not have.

It is never too late, and you only need to answer 1 to 3 Health Questions to get yourself insured, click here to Get a Quote.