Should you buy critical illness insurance in Singapore?


A  Critical Illness Insurance Policy gives a fixed amount if you are detected with any of the critical diseases as mentioned and recorded in the policy. As soon as there is the detection of health issues, a huge amount of money is used to meet household expenses and other disbursements on diagnostic tests and treatment. The policy falls down once the payment is done. By the way, sometimes when you Buy maid insurance, there are those policies that covers critical illnesses.  But, in this article, will discover, if it is truly necessary to buy a critical illness insurance in Singapore.

Name of the critical diseases

Some of the critical medical diseases which are covered under policies are:

  • Heart Attack
  • Myocardial Infarction
  • Stroke
  •  Kidney failure
  • Cancer
  • Organ transplantation
  • Paralysis
  • Primary Pulmonary Arterial Hypertension
  •  Brain Tumor

There are also many other critical diseases. Buy maid insurance that can give you relief when there is a need for funds for a critical illness.

The insurance covers ailments and injury as long as it alludes to the policy document. On the basis of medical expenses, the payments are done. The policy goes on to offer coverage until the renewal even after the claim is paid.


Buy the best insurance policy for critical illness. There are many benefits of a critical illness policy.

  • It acts as a replacement for income. During an ailment, a person is not only affected physically but also has a major impact on the financial condition of a family.
  •  Critical insurance offers a maximum amount that can be used as medical coverage and household expenses.
  • The policy gives peace of mind as one can be centralized their mind more on treatment rather than worrying about arranging funds for medical expenses.
  • Plans do cover treatment taking place overseas. Under a critical illness insurance plan, a lump sum amount is paid on the determination of a critical ailment, irrespective of where the treatment is taking place.

Thus, the policy assures that it can help you if you want to go abroad for further medical treatment.

Basic principles  

The basic principles on which the policy acts is— if you are diagnosed with any of the critical illness which the policy covers, there will be a payment of the sum insured as a lump sum amount by the insurer. Not only payment of  hospital expenses but also  the amount can be used by you in different ways such as to pay loan EMI, household expenses, children school fees, etc.

Even for further better medical treatment one can go abroad and use this amount of money for treatment.  The amount acts as a replacement of income and thus, it can be utilized in various ways.

There are a few more things that one should be worried about. These are much for frightening than critical ailments. One may not have sufficient funds. There is no standard rule which can decide how much amount of insurance one should take, but one should decide the coverage plans as per age, income, and lifestyle.

It is a one-time benefit that is paid out to the policyholder. Various factors depend on issuing insurance in Singapore. Your age and medical history depend on deciding the costs of taking up a critical illness insurance plan in Singapore. Singapore is much more expensive than in any other place.  Hospitals and Medicare are much more advanced which assures better treatment without any compromise. One may consultant an insurance company for opting for the best package.

Big mistake- skipping critical illness insurance

In case you are lucky you will not get ill for the rest of your life. But if you keep in mind that you do not have a chance of getting ill then you are absolutely wrong. No one can guarantee bout the health of a person. Without having the right insurance, one critical illness might be a massive burden for you and your entire family. One must research well to buy the best insurance policy for critical illness. 

The CI plans in Singapore offers coverage for most critical illnesses. No matter how healthy your lifestyle is, no one can tell when critical illness will strike you. The CI claims in the industry show that it is growing among the age of 31 to 40. It also indicates that the risks of getting old with major diseases increase rapidly with age. This is the sole reason why the cost of an insurance policy is more when someone gets older.

According to the National Registry of Diseases, Office it is estimated that 1 in every 4 Singaporeans have a higher risk of developing the critical illness. The most common ones are cancer, prostate cancer, and breast cancer. Singapore is very advanced in the field of medical science and early detection of the disease and better treatments also result in higher rates of survival. Singaporeans benefit from the CI plan a lot as it helps them to afford the treatment that is ongoing and also the cost that comes with the recovery for different types of cancer.

Most Singaporeans are not aware of the benefits that they get from CI plans. Most of the other plans cover expenses so that the financial blow of hospital stays and treatment of the outpatient. But there are also limits to the health insurance plan of the government. CI plans mainly help Singaporeans to meet the balance that is needed during the recovery session.

The bottom line

You must always look after the proper insurance considering your health. No one knows what will happen tomorrow or sometime later. But we all need to be prepared for the worst. The cost of hospital stays and treatments often leave a family in a state of a financial blow. Proper medical insurance that will give coverage for critical illness is a must.

Most Singaporeans suffer from critical illnesses therefore it is essential for them to buy critical illness insurance. They must also research well and buy such a plan that will give coverage even after the hospital stay, during the time of recovery.

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