FWD Big 3 Critical Illness Insurance
Critical illness (CI) insurance is ideally one of the first few insurance plans you get once you enter the working world.
The reason is that if you were to – touchwood – get diagnosed with a CI, the cost would burn a hole in your wallet and significantly impact your standard of living.
As a plan that should be part of your insurance starter pack, it’s probably the least beginner-friendly as it’s arguably the hardest to understand out of all the different types of insurance plans.
With the myriad of different CIs, the different stages, and all the terms and conditions that affect what you can claim and much more, it’s not easiest to wrap your head around.
But not to worry, we’ve looked at the best critical illness insurance plans in Singapore and selected ones that are good for different scenarios.
Once that’s out of the way, we’ve prepared a comprehensive guide that identifies the key factors you should look out for when you’re looking for a CI plan and breaks down the different terms for the layman to understand.
We’ll make choosing your CI insurance a piece of cake – let’s get that slice today.
Before we continue explaining why each of these plans deserves the best for each category, here’s a detailed comparison across different CI plans in Singapore.
This is critical as it forms the basis of our picks.
Comparison of the Best Critical Illness Insurance Plans in Singapore
We’ve only compared full suite standalone CI plans available to keep things simple.
|Policy Term||No. of Critical Illnesses Covered||No. of Juvenile Conditions Covered||No. of Special Conditions Covered||Max Sum Assured||Multipay?||Notable Features||Premium|
|FWD Recover First||From 5 years to age 85||37; Future protect benefit also covers early and intermediate CI (refer to the policy contract for complete list)||–|
Able to claim up to 6 conditions, of up to $25,000 each
– Legal, Home Care and Emotional Support reimbursement & complementary medical second opinion support
– Also covers 9 body systems, disabilities and ICU stay of at least 5 days
– Sum assured for advanced CI will reset, and premiums will be waived in the event of an early/intermediate CI claim or any claim under the second bullet point
– 5K death benefit
|Singlife with Aviva My MultiPay Critical Illness Plan IV||From 10 years to 99 ANB||132|
Able to claim up to 6 times, 20% of SA, up to $25K
Able to claim up to 6 times, 20% of SA, up to $25K
– On your 1st Severe Stage CI claim for an eligible CI, you can opt to claim an additional 100% of your SA on top of what is already claimable, but your recurrent benefit will cease
– Benign and Borderline Malignant Tumour Benefit for excision in 22 specified organs
– ICU Stay Benefit for 4 days stay or longer
– 5K death benefit
– Waiver of premiums when 300% of SA is paid out
|AXA Super CritiCare|
– to age 50, 55, 60, 65, 70 or 75, or
– Renewable term: 5, 10, 15, 20, 25 or 30 years
Able to claim up to 3 times, 10% SA up to S$25K
Able to claim up to 5 times, 10% SA up to S$25,000
– Diabetes care programme
– 10K death benefit
– Coverage for Re-diagnosed Cancer, Recurrent Heart Attack and Stroke at any stages
|Tokio Marine MultiCare||– to age 70, 75 or 85||109|
Able to claim up to 5 times, 20% of SA up to $25K
Able to claim up to 5 times, 20% of SA up to $25K
– Waiver of premiums following advanced stage claim if the life assured < 18
– Death benefit – 10% of sum assured
|AIA Beyond Critical Care|
– to age 85, or
– 30 years
43 CIs & 5 rediagnosed CIs (advanced stage only); or
104 CIs (if you add on Early Critical Cover Extra Rider)
|–||–||3M||Yes, it can be further enhanced with a rider.|
– Up to 100% of the base plan’s total annual premiums are refunded to you at the end of the policy term, less any claims made
– Coverage for 5 mental illness
– 100% death benefit, less any CI claims
– $10K compassionate benefit
– up to $200 health screening benefit
– access to AIA Critical Assist & Teladoc health
|PRUActive Protect||– from 10 to 99 years||37||9; (if both parents buy PRUActive Protect||–||–||Add on as a rider|
– Waiver of premiums if spouse diagnosed with CI
– Receive up to 50% of CI coverage on serious illnesses or accidents
– Add on multipay CI option as a rider
– Rider for up to 100% of SA death benefit
– Rider covering ICU stay in the event of severe infectious disease
– Rider to pay monthly payouts in the event of CI diagnosis
|Information not available|
|Great LIFE Advantage||– whole life||120||–||–||Information not available||Add on as a rider|
– Hybrid whole life/CI insurance
– Adjust coverage at 8 milestones
– Add on multipay CI option as rider, covers recurrent cancer, heart attack and stroke
– $20K child cover benefit for each child
|Information not available|
|Great Family Care||– up to age 85||53||25; able to claim 1 time, 25% of SA up to $50K||–||3M||No|
– Hybrid term life/CI insurance
– Covers 3 generations
– Rider covering parents against Cancer, Alzheimer’s, Dementia, or Parkinson’s; payout 15% of SA or $15K (whichever is higher)
|Manulife Ready CompleteCare||– to age 75 or 99||106|
Able to claim up to 6 months, 20% of SA up to $25K
|–||500K||With “Cover Me Again” Option|
– Lump sum payout if child is diagnosed with advanced stage CI
– Premium refund in event of death
– Free health check every 2 years
– Additional 200% of SA for 6 major CI diagnosis
*Premiums based on 30-year-old male, non-smoker, 100K sum assured with policy term up to age 75; premiums paid on an annual basis
Other than the above, certain plans in the market cover a smaller number of selected common CIs, at a much lower price. In some cases, these may cover people who have existing medical conditions.
Apart from that, there are also gender-specific CI plans that cover CIs that are more likely to happen for each gender.
So the above table should not be taken as an exhaustive list.
Best Critical Illness Insurance in Singapore
If you’re unsure of where and how to start, we’ve got your back with a selection of the best plan available based on specific criteria. Of course, this is my personal opinion, and the best plan for you may or may not be what is listed here.
It’s always advisable to speak to a certified financial advisor before you commit to a plan.
With that said, let’s dive straight into the best critical illness insurance in Singapore:
AXA Super CritiCare
Boasting possibly one of the lowest premiums for a multipay CI is AXA Super CritiCare, which is the best CI plan available in my opinion. It has a bit of everything you require and is one of the most value for money plans.
It is a plan that allows you to claim up to 600% of your SA and is also one of the tops in terms of the number of CIs covered – 111 conditions.
Its sum assured range of $50K to $1M and it has many policy term options, making it suitable for a wide range of needs and circumstances.
The waiting periods in between claims are pretty decent as well. And in some cases, you might even get to claim before the waiting period is up, just not 100% of the sum assured.
Albeit, the waiting periods are slightly tricky to wrap your head around, but that’s why we have our financial advisors – to advise us on matters like this.
It even allows you to claim for rediagnosed cancer, recurrent heart attack, and/or stroke at any stage.
It also comes with a complimentary diabetes care programme (worth $2.5K) which is renewable as long as you’re considered diabetic.
However, if you’re straight away diagnosed with advanced-stage CI, perhaps you don’t go for regular check-ups or treat symptoms as nothing serious, the 100% sum assured will not be enough to pay for 5 – 7 years of treatment, as advised by the Life Insurance Association of Singapore.
This means that you’ll need to supplement your advanced CI coverage (not ECI) with another term or whole-life plan + rider, potentially increasing your total premiums.
I wouldn’t say it’s the best in any one aspect, but it’s not too shabby and definitely a plan worth considering.
If you’re looking for something a bit more comprehensive than this, consider Manulife’s, Tokio Marine’s, or Singlife’s multipay plans.
Cheapest Critical Illness Insurance Plan in Singapore
FWD Big 3 Critical Illness Insurance
The FWD Big 3 Critical Illness Insurance is notably the cheapest critical illness insurance as it offers protection only for all stages of the most significant 3 critical illnesses – Cancer, Heart, Stroke.
Its lowest premium is S$24 for a month, making it attractive to many. There is the option to purchase a rider for additional coverage for 24 conditions related to brain or heart function. A death benefit of S$20,000 is also included.
With the FWD Big 3 Critical Illness Insurance, you can renew the policy until you’re 85. As you renew your policy, your premium will go up each year, but you will be guaranteed a renewal without further underwriting.
However, the sum assured ranges only between S$50,000 and S$200,000.
Having said that, remember, this is just a basic plan. To qualify for the payout, you must have had a heart attack of a specified severity and a stroke resulting in a permanent neurological deficit (a.k.a. brain damage).
This is a good option for those looking for something cheap and straightforward. It does, however, provide full payout for all cancer stages.
Best Early Stage Critical Illness (CI) Insurance Plan
Aviva My Early Critical Illness Plan II
(Now Singlife Comprehensive Critical Illness)
Tokio Marine’s Early Cover
There aren’t many early CI plans available on the market as most insurers are moving into the multipay space which covers CIs across different stages.
However, if you’re tight on budget and are looking for an early-stage CI plan, I would recommend getting Singlife with Aviva’s early CI plan, which covers 132 CIs and comes with value-added benefits like a Benign and Borderline Malignant Tumour Benefit and ICU Stay Benefit.
But if the maximum sum assured is more important to you as compared to the features available, then I would recommend going for Tokio Marine’s Early Cover which allows you to claim up to 350K for early-stage CI, 100K higher than Singlife with Aviva’s plan.
It also provides a higher death benefit of $20K as compared to Singlife with Aviva’s $5K. So this is the plan to get if you’re more particular about your coverage amount.
Best Multipay Critical Illness Insurance Plan
When it comes to multipay plans, other than looking at the available features, it’s also good to compare the maximum amount claimable, claim limits, and waiting periods before selecting the one suited for you. Here’s a quick comparison for you:
|Aviva My MultiPay Critical Illness Plan IV||AXA Super CritiCare||Tokio Marine MultiCare||AIA Beyond Critical Care*||Manulife Ready CompleteCare|
|Maximum Claimable Amount|
Up to 600% for Early, Intermediate, Advanced Stage CI & 300% for recurrent CI and selected Severe Stage CI
Recurrent CI claims capped @ 300%
Up to 700% for Early/Intermediate/Advanced Stage CI and 200% for Recurrent/New Advanced stage cancer
|200%||900%; up to 500% for Early/Intermediate/Advanced Stage CI & 400% for recurrent cancer and selected Severe Stage CI|
|No. of Recurrent CIs Covered||6||3||1||5||1|
|Maximum Early Stage Payout (1st Payout)||250K||350K||350K||NIL||250K|
|Maximum Intermediate Stage Payout (1st Payout)||250K||350K||350K||NIL||350K|
|Maximum Advanced Stage Payout||300% of SA||100% of SA||300% of SA||100% of SA||100% of SA|
|Waiting Period between 2 Different Early/Intermediate Stage Claim||1 year||1 year||No Waiting Period if CIs belong to different groups||Early/Intermediate Stage not claimable||1 year|
|Waiting Period between 2 Different Severe Stage Claim||1 year||1 year||1 year||1 year||1 year|
|Waiting Period for Early/Intermediate to Advanced Stage||No waiting period||No waiting period, but SA needs to be more than claim limits to payout @ severe stage||No waiting period||Early/Intermediate Stage not claimable||1 year|
|Waiting Period for Advanced Stage to Early/Intermediate Stage Claim||1 year||Not explicitly stated, but likely around 1 year, provided the CI belongs to a different group||No waiting period||Early/Intermediate Stage not claimable||1 year|
|Waiting Period for Recurrent CI Claim|
Able to claim 150% of SA each time
|2 years||2 years||2 years||2 years|
AXA Super CritiCare
Singlife with Aviva MyMultiPay Critical Illness Plan IV
Anyway, in this area, my go-to plan would be AXA’s Super CritiCare, but I won’t go into detail as I’ve raved about it earlier.
Singlife with Aviva’s MyMultiPay Critical Illness Plan IV comes in as a close second. The main reason Aviva’s plan didn’t manage to edge out AXA’s is because of its much lower maximum sum assured of $250K.
Apart from that, I daresay that it tops AXA’s Super CritiCare. It covers a whopping 132 CIs, the highest in the market, 27 Juvenile and Special conditions, and 6 Recurrent CIs on top of that.
We all know that advanced stage and recurrent CIs tend to be much more expensive than early/intermediate stage CIs.
And this is probably why Singlife with Aviva allows you to claim up to 300% or 150% of your sum assured for advanced and recurrent CIs, respectively.
On the other hand, AXA’s Super CritiCare only allows a maximum claim of 100% regardless of the CI stage. So clearly, Aviva has the upper hand here.
Not to forget, it also has a Benign and Borderline Malignant Tumour Benefit, ICU Stay benefit, and premium waiver.
The only reason why I can’t bring myself to say that this is my plan of choice is that $250K worth of CI coverage is really quite low considering the cost of treatment and ensuring you can continue your current standard of living.
But if maximum coverage (or if 250K is more than 24 months your salary) is not the highest on your list of considerations, then do give Aviva’s CI plan a chance.
Best Critical Illness Insurance Plan for Families
Great Eastern GREAT Family Care
What if I told you that you could get critical illness coverage for yourself, your child, AND your parents, all in one plan at an affordable price? This might seem too good to be true, but there is a plan that allows you to do so – Great Eastern’s GREAT Family Care.
Not the most comprehensive in terms of CI coverage as it only covers 53 CIs. However, it doesn’t just cover CI, but death, total & permanent disability, and terminal illness as well.
Note that your child will be covered for the same 53 CIs and an additional 25 juvenile conditions for free, while your parents will only be covered 4 medical conditions, and this coverage is added on as a rider.
If you’re looking for something that can cover all your loved ones for CI without the hassle of managing numerous individual insurance policies, then this is the plan to get.
Best Critical Illness Insurance Plan with Additional Benefits (on basic plan)
AIA Beyond Critical Care
AIA’s Beyond Critical Care really lives up to its name, offering many benefits that go beyond just CI coverage.
Although its basic plan only covers 43 CIs, you have the option of adding on a rider to cover you for 104 CIs. But in this case, we’re not here for the number of CIs covered, but its other benefits.
Other than CI coverage, you get coverage for 5 mental illnesses as well, the only plan offering such coverage in the market at the moment.
They also offer up to $200 reimbursement for medical checkups every 3 years so that you can stay on top of your health with regular checkups.
There’s also AIA Critical Assist – a dedicated hotline service that provides expert advice, and Teladoc Health – which provides personalised medical support from over 50,000 leading global specialists.
Unfortunately, life is all about give and takes. With all the benefits we’re given, there must be something taken.
And in this case, it comes in the form of higher premiums required. However, if you manage to stay healthy, your premiums will be refunded, less any CI claims made.
Best Critical Illness Insurance Plan with Most Flexibility
If you’re the kind who says “anything” when someone asks you what you want to eat, then this plan may not be the best one for you. This plan provides you with so many options that it’s probably a nightmare for someone indecisive.
But jokes aside, PRUActive Protect offers many different riders that allow you to build the ultimate critical illness plan personalised just for you. It is very different from what’s available on the market.
Unfortunately, its base plan only covers 37 critical illnesses. However, this can be enhanced with a rider that allows you to claim for recurring or relapsed early CI, which also converts your plan into a multipay plan, where you can claim up to 500% of your sum assured.
You can also add on riders to cover ICU stays and even death.
One thing this plan offers that no other plan does is a monthly payout if you are diagnosed with a CI. This feature is quite helpful as it allows you to entirely focus on your recovery and not worry about having to work to bring in an income while you’re down.
Surprisingly, no other insurer seems to offer this yet.
Most Comprehensive Critical Illness Plan
AIA Absolute Critical Cover
If the number of critical illnesses is what matters to you, the AIA Absolute Critical Cover is the one for you.
We’re updating the comparison table above, but let us share why we say the AIA Absolute Critical Cover is the most comprehensive CI plan there is.
With 150 CI, 13 pre-early conditions, and 25 special conditions, the AIA Absolute Critical Cover absolutely nails it with 187 conditions in total.
This is the most CI covered by any insurer by far and has the multipay option available for you.
It’s not the cheapest multipay CI plan there is, but if the number of CI matters to you and price isn’t an issue, this is the go-to plan.
Now here’s a quick crash course on what to look out for when selecting your critical illness insurance plan.
Policy & Premium Term
If you’ve not been living under a rock, you would have seen studies highlighting our increased life expectancy. As great as that may be, living longer also means an increased likelihood of contracting major illnesses because our bodies tend to fail us as we grow older.
So, the first question you should ask yourself is up to what age you would like your coverage to last. With the high cost of critical illness (CI) treatments, you’d want to ensure your coverage doesn’t expire when you need it the most.
But at the same time, you shouldn’t just blindly get the maximum possible policy term because your premiums increases significantly with age.
Most of the time, you can choose from 2 types of policy terms:
- Coverage up to a specific age, or
- Coverage based on a certain number of years
If you’re looking for more flexibility in this aspect, the latter option would be the better one.
Ultimately, it is a delicate balancing act, and the correct policy term for you depends on your individual circumstances and priorities. If you’re unsure, it’s good to speak to your financial advisor so that you can make an informed decision.
Premium term-wise, it’s quite straightforward as it follows your policy term, and your premiums usually also get renewed annually.
Minimum & Maximum Sum Assured
Critical illness treatment isn’t easy on the wallet. Other than ensuring you’re sufficiently covered for treatments, your coverage should be enough to ensure you and your loved ones can continue to enjoy the same way of living while you’re recovering and unable to work.
The Life Insurance Association of Singapore recommends coverage of $316K. However, this varies based on the individual.
Generally, your coverage should be sufficient enough to cover you for 5 years as that is the expected time required for you to recover.
I suggest reading our guide to calculating what is your ECI protection gap and also how much CI coverage you’ll need.
Most plans in the market have a minimum sum assured around 50K. This probably wouldn’t impact your decision much, as most likely the coverage you get would be much higher.
Instead, it’s the maximum sum assured where you need to pay more attention as it varies from $250K to $3M. If you’re looking for more coverage, certain CI plans may not be suitable for you.
Critical Illness Conditions & Stages Covered
The types and stages of critical illnesses covered vary greatly between plans. Some insurers like Aviva cover up to 132 conditions across various stages, while Prudential’s PRUActive Protect only covers 37 critical illnesses.
If you’re the kiasu kind and your budget allows for it, a plan that covers more critical illnesses across the different stages might be more suited for you.
However, if you’re working with a tight budget, then it might be good to do a comparison of the CIs covered and decide if you really require coverage for certain additional CIs.
Certain plans even cover recurrent CIs like cancer, heart attack, and/or stroke. This is good to have if your budget allows for it as re-occurrence or spread (in the case of major cancer) of such CIs is becoming increasingly common.
Some plans might also offer coverage for special and juvenile conditions. For these, the maximum amount claimable each time generally doesn’t exceed $25K and there’s usually a limit on the maximum number of times you can claim them.
Do note that the definitions for certain medical conditions might vary across insurers even if what they cover is similarly named. Whether your plan pays out will depend largely on these definitions.
While you don’t need to go down to such granular detail and compare the definitions of all the CIs before you make your choice, it would be good to compare for the CIs that are important for you.
After purchasing your plan, it’s also advisable to familiarise yourself with the definitions so you’re aware of what is claimable.
Single Payout vs Multipay
Single payout plans only provide a 1-time lump sum payout, after which, your plan terminates.
To be covered for critical illness again, you would need to purchase a new plan and undergo a medical examination. Possibly this could mean facing certain exclusions and/or additional premiums due to pre-existing conditions.
On the other hand, multipay plans allow you to claim for multiple CI diagnoses for different stages and do not terminate after just 1 claim.
The maximum amount claimable varies from as low as 300% to as high as 900% of your sum assured, depending on the plan you get.
These multipay plans might also provide a payout for selected recurrent CIs, as mentioned in the previous section.
Unfortunately, there’s no free lunch in the world. Although you are entitled to multiple payouts, there are certain terms and conditions to meet before you’re eligible for a claim.
Factors like the waiting period, CI stage, and whether the type of CI you’re claiming for is the same might affect your claim eligibility and payout.
Another downside is that such plans tend to be pricier. Understandably so as you get to claim more than once.
If you want the added assurance of multiple claims or have a family history of recurrent CIs, then a multipay plan might be more suitable. But of course, your budget will also be important in influencing your final decision.
Pre-Existing Conditions/Family History
If you have any pre-existing conditions or your family has a medical history, you might face certain exclusions on your plan or you might even be denied coverage altogether.
Apart from exclusions and denied coverage, you might also face the following:
- Charged higher premiums
- Pre-existing conditions are only claimable after a certain period (e.g. 1 – 2 years), sometimes at lower claim limit
If getting coverage for your pre-existing condition is important to you, you might want to shop around to see what are the available options for you as some insurers might be a bit more lenient.
If you’re lucky enough, you might even be able to find a plan that offers you full coverage.
Maximum Claim Limit
If your plan pays out for the early and intermediate stage CIs, there would be certain claim limits that you would be subjected to. Generally, the claim limits for these stages range from 250K to 350K.
If your sum assured you’re planning to get is less than the claim limit, then this factor wouldn’t affect your choice of plan.
However, if you’re looking to get a plan with a high sum assured, you should consider getting a plan that has a higher claim limit. After all, you’re paying additional for the higher coverage, better make your money’s worth.
For advanced stage critical illnesses, there is usually no limit on the maximum amount claimable.
Waiting Period and/or Survival Period
In case things weren’t confusing enough already, we have the waiting period and survival period. Admittedly, the definition of the terms isn’t what’s confusing.
Instead, it’s the subtle yet significant differences between the waiting and survival period that’s headache inducing.
The waiting period is defined as the time that you would need to wait before you can claim certain benefits, while the survival period is the period of time you have to survive after your diagnosis before a claim is admitted.
Here’s a sample scenario.
Assume you’re looking to claim for a different early/intermediate stage CI. Plans A and B both have a 1 year waiting period if you’re looking to claim 100% of the sum assured.
But in the case of plan A, if it has been less than 1 year from your previous claim, you can still claim for the different CI at an amount that is your plan’s sum assured minus the amount paid out on the previous early/intermediate CI claim.
Whereas for Plan B, you would not be able to claim at all if it has not been a year.
As you can see from the above, it’s same same but different. To help you with your decision, we’ve done a comparison of the waiting periods for multipay CI plans in the latter part of the article.
But if in doubt, you can always reach out to your financial advisor (or one of ours) and get their assistance to break down the differences in the waiting and survival periods of the plans.
Once again, do familiarise yourself with your plan’s waiting and survival periods as it affects your claim ability.
Apart from offering CI coverage, certain insurers also have value-added features that provide you benefits as part of your basic plan. Note that these are not riders or supplementary benefits.
Some of the common additional features include a death benefit, intensive care unit stay, and waiver of premiums.
And the not so common ones are a diabetes care programme courtesy of AXA’s Super CritiCare), legal, home & emotional support reimbursement from FWD’s Recover First, and Aviva’s Benign and Borderline Malignant Tumour Benefit in its multipay plan.
Every plan is different. While some value-added features might seem similar, there are usually subtle differences. For example, one plan might pay out a $5K death benefit, while another pays out $10K.
In some cases, you might have to pay extra for these additional features. So do consider if you’re willing to pay extra for them, or if you’re okay to forego them for something easier on the wallet.
If you’re tight on budget, affordability would be much higher on your list of considerations, but I feel that it shouldn’t just be about getting the cheapest plan available on the market.
With factors like the number and stages of critical illness covered, sum assured limits, waiting/survival periods, and more, you shouldn’t compromise on the coverage you’re comfortable with in exchange for the cheapest plan.
Instead, you should determine what is the most important to you, narrow down which plans can provide you with those factors, and from there choose the cheapest plan. And if your budget can’t cover that, only do you reduce your expected coverage.
Another thing about critical illness premiums is that they depend on many factors (but not limited to):
- Current health status
- Family medical history
While online premium comparisons might be a good gauge of what to expect, I would suggest getting quotations based on your own circumstances (e.g. age, gender, medical history) before you make your decision.
This is because premiums can fluctuate based on the factors above and some insurers might be more lenient to certain pre-conditions.
Another thing, if you’re looking to hold your plan for the long term into your 70s or 80s, it’s good to look at the premium breakdowns in your later years and look at the total expected premiums paid.
Premiums for CI plans don’t stay constant like life insurance plans.
Standalone Plan vs Rider
When it comes to getting critical illness coverage, you have 3 options, purchasing it as:
- A standalone plan, or
- Rider on top of a whole life insurance plan
- Rider on top of a term life insurance plan
While we’re focusing on standalone plans in this article, it’s good to be aware of the options available for you.
Standalone plans might be slightly more expensive as compared to a rider. However, riders might cause your life insurance to terminate after you claim a critical illness.
There aren’t many riders in the market that provide multiple payouts as well, so if you prefer the option of having multiple payouts, a standalone plan might be more suitable.
At the end of the day, CI coverage is a definite must-have in our insurance portfolio. And it’s recommended that you get it early when you’re in the pink of health to avoid any unnecessary hassles, like health exclusions or additional premiums as a result of existing conditions that come with age.
As a general guide, when selecting your CI plan, it’s good to first list down what you can and can’t live without before you make your choice.
Some guiding questions to start you off are:
- What’s the amount of coverage I’m looking for?
- Does my family have a certain medical history that I need to take note of?
- How many CIs and stages do I want to be covered for? Does this include any coverage for recurring illnesses?
- Do I want to enjoy multiple payouts, or am I okay if my plan ends once I make a claim?
Of course, the above list is not exhaustive and there are many other considerations to make.
Ultimately, while we’ve highlighted some of the plans that we think are the best in their respective categories, the best plan for you might differ from what we’ve mentioned.
Before you commit to any decision, you should always speak to a financial advisor because insurance is a big-ticket item and one wrong move is detrimental to your portfolio.
If you don’t have an existing advisor, you can always reach out to our expert financial advisors who will provide their unbiased advice.