December 20, 2023

How to Pick The Best Early Critical Illness Plan Singapore?


Critical Illness Plan is the type of insurance that offers you the lump sum pay-out upon the diagnosis of the specific major illness. It may be taken into consideration as the supplement to the fitness coverage that sticks to the overlaying the medical costs.

Still, it cannot compensate you for any of the loss of income, like in case you are compelled to take time off work. It has some extra costs incurred in it like the transportation cost to the hospital or any supplement, even any mental wellness sessions.

Critical illness includes serious problems like cancers, heart diseases, or strokes, which are the most prevalent illness in Singapore. These critical illnesses are causing more than 57% of death in the year 2017. They can be deadly and even expensive for the purpose of treatment. Thus, to diminish the risk of financial ruin due to this critical illness, there are several insurance policies that aim to relieve you against such un-certainty while you should get diagnosed with one of them.

That’s the scenario where a critical illness insurance plan comes into existence. Best early critical illness plan Singapore plays an essential role in having the average Singaporean has the critical illness insurance gap of more than 1Cr. If you are thinking about potentially losing income or savings from contracting a significant illness, consider getting critical illness insurance.

Important note about Critical Illness Plan

The Critical Illness plan is the insurance plan that covers an individual for 37 major critical illnesses and the relevant surgeries. It can be purchased separately and also as a part of the life insurance policy. It provides you with the lump sum upon the diagnosis of the critical illness that can be utilized in whatever you need compared to the health insurance policy that covers the hospitalization stays and various medical expenses.

The only disadvantage for this plan is that in case you are a heavy smoker or it’s been most effective only a year considering you’ve given up smoking, you’re still taken into consideration to belong to the excessive risk category. Age, usual fitness conditions, a form of profession, and so forth are the special form of variables considered while you cross for this clinical test earlier than choosing a critical illness plan.

Who is Eligible to get it?

Critical Illness Insurance can be an ideal option to think about if heart disease, cancer, diabetes, or any other conditions are familiar in your family. You should consider the plan as soon as possible to ignore the coverage because of the pre-existing conditions.

Like, if you have high blood cholesterol, which may be hereditary, and it’s tough to prevent these diseases if your family suffers from them.

A critical Illness plan allows you to prepare for something that is inevitable. You can have an insurance plan in case you are worried about future medical treatments that are tough for you to pay. At this time, you can consider the critical illness recovery average plan with the recovery periods of 5 years.

You can figure out the amount of coverage you need to support your family during that time. The critical illness plan doesn’t cover multiple pay-outs; it may be difficult for you to get the new policy after illness history.

Amount of Coverage you get:

According to LIA recommendation, a coverage amount of 3.9x of your annual income. If you are earning $60,000 per year, consider a plan with the critical illness coverage of $2 34,000. If you think of getting more insurance coverage, then you should strongly go for more one.

Important Note about the Critical Illness:

There are numerous essential factors that you need to know about the Critical illness coverage regarding the specific exclusions and the process to cover the plans.

Firstly, if you are diagnosed with angioplasty or the invasion treatment for the coronary artery, then you will get the coverage of 10% of the sum assured, which maximum of amount $25,000. You will still receive the amount for the other critical illness but the amount claimed will be the total amount that insured for is the original amount deducted from the amount taken out for the angioplasty.

You will also find certain conditions that the critical illness won’t cover at all. Like, in the case of comas and the end-stage of liver failure, if it is caused due to the abuse of drugs or alcohol.

Secondly, if you are taking the critical illness plan for a direct purchase Insurance Life insurance plan, you should keep in mind that any critical illness claim will get taken out from your death sum insured.

Lastly, there are a few illnesses and surgeries that are covered after 90days of your policy purchase. Such illnesses are cancer, heart attack, bypass surgery, and coronary artery or angioplasty.

HL assurance comprehensive maid insurance

There is some famous insurance company that provides a wide range of insurance products that includes Travel Insurance, Critical illness, Maid Insurance, and even personal insurances. They usually offer the Maid Protect 360 insurance plan with uncompetitive premiums and below the average value.

HL assurance comprehensive maid insurance is an ideal plan for those who aren’t working on the budget and want medical coverage for different medical treatments. It includes clinical and dentist visits, physiotherapy. There is also coverage for hospital cash expenses.

This insurance isn’t a good fit for those on a tight budget and who want liability protection. The different benefits of the maid insurance plans are:

  • Personal accidents and hospitalization

The Maid will get coverage of up to $60,000, and it also includes the medical expenses made due to the accident that the insured suffered from.

  • Dental benefits

The domestic helpers get the dental check-up benefits by enabling them to save more.

  • Rehiring and termination Expenses

In maid insurance plans, the domestic helper gets the reimbursement in case of termination and rehiring as required.

In these insurance plans, you can get the comprehensive maid plan and coverage covering the Covid-19 stay home pay-out and the home leave.

Lastly, you can get the early critical illness plans in Singapore with the best and cheap coverage that suits your needs and requirements. You can choose between the regular and multi-pay plans in the critical illness insurance plans in Singapore.

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