Illness Insurance Singapore

10 Must Know About Critical Illness Insurance in Singapore

Life is uncertain, but we can do such things which can help us in our emergency period. We have to prepare for such things which can save our life and as well as our time and income. According to a study, a large number of people diagnosed with different types of illnesses every year. But if we have the right policies, then we can recover from such disease more easily.

As you know, the treatment is more expensive nowadays, and it can cause depression. So, to live a stress-free life, you must be aware of the health insurance Singapore policies that come into the market. Different insurance companies provide different types of policies related to health and education etc. There is a policy known as critical illness insurance, which is quite popular among people. So, today we learn more about this policy and some facts about this.

Introduction of critical illness insurance policy

When you buy a basic health insurance plan, then you will get some basic benefits. Still, with the critical illness insurance policy, you will get some advanced benefits that we will discuss further in this article. It is one of the important things which you should have in these days. With this policy, you will get a lump sum amount and many more things. Everyone should need this plan in case of any health emergency. Some people have many myths about this policy, but in this article, we will solve all the myths about critical illness insurance plans.

Some must-know facts about critical illness insurance plans In Singapore

  1. Illness included:

If you buy a critical insurance plan, you will only benefit from this plan when the illness or disease is included in your policy. So before buying any policy, you must be careful that whether it contains the illness which you are suffering from or not. You must carefully read the policy before you buy so that you don’t face any issues or problems in the future.

  1. The waiting period of a policy:

When you buy a policy, it must have some waiting period. Each policy has some waiting period for different illnesses. It means you will get the benefits of the insurance after a certain period. If there is any illness or disease is found in your body, and you need a diagnosis, then you don’t get any benefits. So, it will be better for you if you buy an insurance plan earlier.

  1. Get smaller amounts on each diagnosis:

There is some critical illness insurance policy that pays a smaller amount on the earlier stages of your illness. They will pay several payments on each diagnosis you need. They will be paid you the amount according to the insured policy limits. This is mostly happening in the case of the people who are suffering from cancer.

  1. Your age doesn’t matter:

Most people think that they are too young to buy such plans. But life is unpredictable, so we don’t know what will happen to us in the next few minutes. At this time, no one is safe from any illness because of unhealthy junk foods. Some so many youngsters are still diagnosed with the illness. You can buy the policy for a newborn baby to a 65-year-old man. But it will be better if you buy these plans in the earlier stage of your life.

  1. To get a lump sum amount:

Some people consider that the critical illness insurance plan is similar to other medical plans. But this is a myth because other policies cover your expenses when you are admitted to a hospital for more than 24 hours. But when you have the critical illness insurance plan, you will get a lump sum amount during your diagnosis.

  1. Check the types of disease:

According to some people, if a critical illness insurance plan covers cancer, it covers all types of cancer. But it is not true. You have to check the policy to find out which types of cancers are covered through this policy. Almost every type of cancer is included in the policies, but some are usually not included, such as skin cancer.

  1. Look out for the extra benefits:

Before buying any critical illness insurance plan, you have to first ensure that it contains some extra benefits or not.  Every policy contains some additional illness conditions, so check these illnesses carefully so that you can get additional benefits.

  1. It has low premiums:

Most people thought that a critical illness insurance plan has high premiums, but it is not always true. Before buying any critical illness insurance plan, you have to check the various health insurance plans and compare them. It would be best if you chose the plan which fits with your requirement. Every plan has a different premium, so if you buy a policy for later stages of illness, you may have to pay a higher premium.

  1. Check the survival period of your policy:

Before buying any policy, check the survival period also. The survival period is similar to the waiting period. Survival period is a time in which a patient survives after the diagnosis. In such a case you will be paid by the company if you survive in that certain period.

  1. Enhance the coverage for various stages:

In earlier, these policies only cover the earlier stages of your illness. But nowadays it covers the different stages of illness. Some companies provide early-stage coverage, intermediate stage coverage, and advanced stage coverage. This is another plus point that is added to the benefits of the critical illness insurance policy.

After reading this, you understood more about the myths and facts on critical illness insurance. Now you can buy your insurance more confidently.


If you are also looking to buy a critical illness insurance plan recently, you must take your time to know more about this. You need to know more about this, and then you can buy a policy for your family. You should choose a company such as HL Assurance that provides you with the best critical illness insurance plan and solve all your queries related to this.

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