Considerations when critical illness strikes
Often, when critical illness strikes, we can feel shocked, in denial and angry. It often strikes during the most unlikely of times, when life seems to be going well and steady. Furthermore, cancer or other critical illness often comes with the risks of additional complications or critical illness diagnosis. Going for treatments and various tests to ascertain illness is enough to drain us emotionally. Yet, at the back of our minds is the nagging concern for finances.
Do we have enough to cover all these treatment costs? How about the follow-up costs and all those days when I cannot turn up for work? Should there be a relapse, will my family be able to sustain through the changes in lifestyle and financial losses?
Can my current insurance defray these costs?
According to The Straits Times article, our MediShield Life and Integrated Shield Plans are not sufficient to cover all the costs of critical illness, they only provide coverage for the before-, during, and after- hospitalisation costs.
Other costs such as loss of income from stopping work fully or partially, and financial commitments that still require payments such as home mortgage, children’s education and more, are not covered by the typical insurance plans.
Furthermore, it can be difficult to purchase another coverage plan due to the diagnosis or after the first claim of the critical illness is made.
Source: The Straits Times
What is a critical illness plan?
An early critical illness plan can give you a peace of mind when diagnosed with a critical illness. It provides coverage for a wide range of common critical illnesses such as cancer and heart disease (up to 104 conditions), for which you are able to make multiple claims, without disrupting your coverage under the plan. Should new problems arise in different stages of the illness, comprehensive financial support will provide you the necessary to continue treatments without worries.
How much does it cost to get it?
It only costs less than $5 a day to get the peace of mind that comes with the critical illness cover.
That is less than the cost of a beverage at your favourite coffeehouse.
From now till 31 December 2017, get cash rebates and gift vouchers of up to $160. Terms and Conditions apply.
Leave us your contact for a personalised, tailored review of your insurance needs to cover critical illness to protect your wealth and health because that is your best gift that you can offer to your family.