Best Early Stage Critical Illness (CI) Plan Singapore 2024

In the event your depandant is diagnosed with critical illness, as a parent it is highly likely that the a pause in work will occur. In that scenario, the CI payout will substitute the income of the parent so that they can take care of the child.

Early Stage CI plans are structured to be payout once. As Insurers now are recognizing Critical Illnesses may reoccur, Multiple Pay plans seek to address a main concern: When the person is un-insurable (even after receiving a payout from Early Stage CI Claim) after being diagnosed with an Early Stage CI, would the person want to continue working, worrying about monthly expenses? Or would he or she like to spend time with family members and loved ones, focusing on getting well and healing the illness, without having to concern about the critical illness relapsing. 

Multiple Pay also means that there are more payouts should your condition re-occur, persist (CI doesn’t go away and still remains) or new CI being diagnosed. 

Early Stage CI plan fills in the gap that are commonly overlooked and replaces your income, providing financial consistency especially when early stage diagnosis of critical illness.

An Early CI plan takes care of covering some financial burdens should situations occur. It gives a peace of mind to focus on recuperating while undergoing treatments and getting well,  to spend time with your  loved ones.

While a healthcare plan covers for your hospitalisation treatment and ward stay, a good Critical Illness plan serves as an Income Replacement plan. If any, this is the single most important reason to get Early Stage CI coverage, as it provides for financial stability in the time that you need it the most and unable perform at your maximum in your profession. As with the morbidity rate, Critical Illness plans are priced lower the younger the person is. It is crucial to get a comprehensive Critical Illness coverage.

Traditional Critical Illness Policy only covers Major Late Stage, which is Advance Stage CI. Early Stage CI Insurance fills that gap by covering even if you are diagnosed with Early Stage CI because you would not be able to claim under usual CI plans as there is a void where they fall short that would render unable to claim, simply because Early Stage CIs are not covered. 

A good example is carcinoma in situ (Early Stage Cancer). They are cells that are not normal and have not spread yet. However, they may potentially become full fledged cancerous cells and spread into nearby tissues/organs (Advance Stage). This is why they are also known as Stage 0/1 cancer.

Do you know that total loss of sight in 1 eye is considered Early Stage CI? Other lesser known examples include:

• Insertion of Cardiac Pacemaker (Early Stage Heart Attack)
• Brain Aneurysm Surgery (Early Stage Stroke)
• 48 hours Coma
• Loss of Hearing in 1 Ear

Yes, there is a difference. The total coverage amount is the total sum assured for the early critical illness, where as the total claim amount is the payout amount per claim, usually capped at for example, $250, 000 or a maximum of $350, 000, depending on the individual insurer.

For instance, depending on the individual insurer, the claim limit for Aviva is at $250, 000 and for some insurers like AXA and Tokio Marine they are at $350, 000, per early critical illness diagnosis claim. The total coverage limit for AXA is at $3, 000,000 and this means early critical illness diagnosis coverage is limited at $350, 000 per payout, it can be covered for more than twice that claim limit.m

No, you are not over-insured and yes, you will still be able to claim from different insurers, as long as your total coverage sum assured amount is not more than $2, 000, 000 SGD.

2 to 3 years of your annual income is usually adviced, inclusive of any bonuses that you may have. This is because in the event of Early Stage CI occurring, you have 2 to 3 years of Income Protection as well as to cover for costs coming from treatment. And frankly, no one goes for 3 years chemotherapy sessions.