There is no evidence to support the belief that “this will not happen to me,” despite the fact that many individuals have succumbed to cancer. Although cancer is incurable, there are medicines that may be able to help the body rid itself of the illness. In Singapore, cancer kills 28.4 percent of the population. A cancer diagnosis may have a profound impact on a person’s physical, mental, and financial well-being. So cancer insurance Singapore is essential there.
Improved survival rates for cancer patients may be attributed directly to advances in medical technology that have made it feasible to detect the disease at an earlier stage. A person’s and their family’s ability to pay for such treatments may become a substantial cause of stress when they are necessary over an extended period of time and their costs have been gradually rising over many decades.
In order to begin the process of healing after being diagnosed with a serious illness, one must have both time and money. In the meanwhile, we shouldn’t have to worry about our finances since there are things that we can do to create a financial cushion for ourselves. It’s a good idea to look into obtaining insurance since the consequences are inescapable.
Insurance firms have been working on providing single-illness coverage for the last several years now. The fact that cancer is Singapore’s top cause of death has given rise to further concerns. It is just like the foreign Maid insurance.
Does cancer insurance cover everything?
It is possible to get cancer insurance as an independent addition to your primary health insurance policy. A cancer insurance plan’s coverage may overlap with those of certain primary health/medical and critical illness plans. When making a selection, it is important to consider all areas of protection. Most cancer-only policies will have cheaper premiums than early-stage critical disease plans since they solely cover cancer (because these cover a wider range of critical illnesses). A lump amount is often paid out regardless of the stage of the sickness in cancer-only policies.
The financial burden that comes with a cancer diagnosis and any of its numerous symptoms may be enormous. To help reduce some of the financial strain, cancer insurance is available. There may be some differences in coverage across insurance companies. So how to choose main insurance in Singapore?
According to a reimbursement scheme like MediShield Life’s, most cancer insurance plans don’t limit how the money may be utilised.
Is there a specific reason why you’d want to get cancer insurance?
Some individuals may prefer not to bring up the matter at all, but for others, obtaining cancer insurance is a way to supplement their health insurance in the event that they are diagnosed with cancer and their health insurance alone is unable to cover the costs connected with the sickness.
Having cancer insurance may help alleviate some of the financial burden imposed by the expenses of treatment, unforeseen events, and other family obligations, such as mortgages. No matter what stage of cancer a patient is diagnosed with, they have the right to file a claim with their insurance carrier right away. A lump sum payout of up to $100,000 and a monthly income benefit of up to $3,500 per month are provided by certain insurance companies.
What is covered by insurance in terms of cancer treatment?
Non-invasive as well as invasive types of cancer are generally covered by most cancer insurance plans, regardless of their severity. In the medical community, “major cancer” refers to a tumour that has been confirmed by histological evidence. In this kind of cancer, malignant cells proliferate uncontrollably as well as invade and destroy healthy tissue. The umbrella phrase “major cancer” includes the words leukaemia, lymphoma, and sarcoma, however this list is not complete. As a result, the policy’s language would spell out exactly what is not covered under the category of Major Cancer.