• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Go to Expat Living Hong Kong
Get our Newsletter

Lifestyle Guide To Moving To & Living in Singapore - Expat Living HomepageLifestyle Guide To Moving To & Living in Singapore - Expat Living

Moving to Singapore and not sure where to start? Expat Living is the essential lifestyle guide to living in Singapore.

Login Pelcro Shop

Menu
  • Living in Singapore
      • Living here
      • Property
      • Neighbourhood Guides
      • Work & Finance
        • soccer school sports - SJI International studentsWhich school sports to choose?
        • Transform borders Singapore immigration lawyer sulochanaTHE Singapore immigration lawyer to get your work permit
        • Driving in SingaporeDriving in Singapore – What you need to know
        • migration to AustraliaIs migration to Australia or NZ on your wish list?
      • View all
    Close
  • Things To Do
      • Things to do
      • EL Events
      • Calendar
      • Competitions
      • Noticeboard
        • Things to do in SingpaoreWhat’s on this week and beyond
        • puzzles octoberPuzzle Pages – answers for October 2023!
        • horoscopes for julyMonthly Horoscopes – October 2023!
        • what's on in sydney theatre wickedA Wickedly Good Time – Things to Do in Sydney!
      • View all
    Close
  • Kids
      • Enrichment
      • Kids Things To Do
      • Mums & Babies
      • Schools
      • Tots & Toddlers
      • Tweens & Teens
        • soccer school sports - SJI International studentsWhich school sports to choose?
        • special needs education clinic TLCNeed special needs education support for your child?
        • Yellow Aliens mascotWhere to rent Halloween costumes & more!
        • White Room photography studio in SingaporePortrait photography in Singapore: here’s some top studios!
      • View all
    Close
  • Homes
      • Furniture & Décor
      • Real Homes
        • Looking for the best outdoor furniture in Singapore?
        • Home News: New furniture, home décor & services
        • solo exhibition in singaporeAmazing 3D-style artwork by Zhuang Hong Yi
        • Where to buy antiques or vintage furniture – Reviews
      • View all
    Close
  • Travel
      • Australasia
      • Rest Of The World
        • migration to AustraliaIs migration to Australia or NZ on your wish list?
        • The Latest Travel News & Hotel Deals
        • what's on in sydney theatre wickedA Wickedly Good Time – Things to Do in Sydney!
        • stamp duty investing in property5 Reasons to Invest in Property in Sunny Spain!
      • View all
    Close
  • Wine & Dine
      • Asian Cuisine
      • Western Cuisine
      • Bars & Clubs
      • Groceries & Speciality Services
      • Recipes & Classes
        • New Nibbles: Foodie news!
        • Oktoberfest 2023 singapore - the places for food and beerHow to celebrate Oktoberfest 2023 in Singapore
        • Deviate wine bar in Dempsey Hill - we chat to owner Joe Keats of Petersons WinesThis Dempsey bar is a best-kept secret!
        • Crossroads cafe at Orchard - where to eat in Orchard Road - alfresco dining SingaporeTry alfresco dining & happy hour at this café at Orchard Road
      • View all
    Close
  • Style & Beauty
      • Fashion
      • Hair & Beauty
        • anti-frizz hair treatmentFrizzy hair? We review keratin treatments and more
        • hairdressers in singaporeBest Hair Salons in Singapore for Haircut, Colour & De-frizz!
        • Fashion News and Sales in Singapore!
        • sensitive skin moisturiser skincare steps productsTried & Tested: Sensitive skin moisturisers, serums & more!
      • View all
    Close
  • Health & Fitness
      • Dental
      • Fitness
      • Medical
      • Wellness
        • soccer school sports - SJI International studentsWhich school sports to choose?
        • dental facial orthopaedic and clear aligners orthodontics in singaporeA star in alignment – orthodontics and charity work
        • mould service in singaporeChoose the right mould removal service in Singapore
        • allergic rhinitis, allergy medication and insuranceFast facts on allergies, symptoms & insurance
      • View all
    Close
  • Shop
    • PRINT MAGAZINE
    • DIGITAL MAGAZINE
    • Close

A guide to critical illness insurance

14th April 2022 by Amy Greenburg 3 Min Read

https://expatliving.sg/critical-illness-insurance-coverage-insurance-plans-expat-insurance/

We tend to think that critical illness only happens to other people. Unfortunately, that’s not the case, and we need to be prepared for a serious diagnosis – for example, cancer, kidney failure or a debilitating immune disease. Treatment for these types of conditions can be lengthy and costly, and could keep you from working for some time. So, what if your health insurance plan doesn’t cover all the costs involved? Luckily, there’s a special insurance to help you cope. Here, the team at Expat Insurance gives us the lowdown on critical illness insurance.

What is critical illness insurance?

Critical illness insurance is an add-on or “rider” that can be purchased on top of an existing life insurance policy. If you come down with an illness, you’ll receive payouts to cover your medical bills, and to keep you afloat.

critical illness insurance family and kids at home

Why is it so important?

Treatment for critical illnesses is expensive! While management of the illness is generally already covered under most health insurance policies in Singapore, this does not account for the loss of income while you undergo treatment and recovery. Managing and recovering from cancer, for instance, can be a lengthy process. Firstly, there are the therapies to consider, sometimes in addition to surgery. There’s also the cost of diagnostic testing, rehabilitation, monitoring and ongoing follow-ups to the doctor until you’re in the clear, and back to your healthy self.

These costs can add up quickly; and they can become a significant financial burden if there have been no plans made to accommodate them. This, of course, can take a major emotional toll on your family.

Also, if you’re living overseas, you don’t have the same opportunity to call upon the help of friends and family. This lack of  support network is an important factor that’s often overlooked. You may end up spending more money getting a helping hand than if you were back home with the support of family and friends.

Do I need critical illness cover if I have health insurance?

Health insurance helps pay for medical expenses such as doctor’s visits, hospital stays, medications, tests, and procedures. It helps ensure that people can afford medical care and stay as healthy as possible.

Critical illness insurance, on the other hand, is a protective measure. It’s similar to life insurance, which is designed to offer your family financial continuity in the event of your death. Critical illness cover can help secure the financial protection of your family while you undergo treatment and recovery.

Therefore, purchasing both health insurance and critical illness cover is recommended.

Who needs critical illness insurance?

Everyone! Regardless of whether you are young or old, single or with dependents.

If you were to be  hospitalised tomorrow, how would your family cope? A good rule of thumb is that, if you have others who rely on you financially or practically, then critical illness cover is a must. It’s important to make adequate plans so that if you do become ill, the people you’re responsible for and love you the most will have one less thing to worry about.

critical illness insurance

What are the different types of critical illness cover?

There are basically two kinds of cover: critical illness and multi-pay coverage. The one that’s best for your family really depends on your family history, medical coverage, and your ability to financially weather recovery and treatment costs.

With critical illness cover, a guaranteed lump sum is be paid out when you are diagnosed with an advanced stage illness. For example, stage three of cancer.

Multi-stage coverage, on the other hand, will pay a lump sum, plus additional payouts. Families with histories of critical illnesses, or those who lack ample emergency savings, should consider this type of coverage. There are several types of multi-stage or multi-pay options, many of which pay out multiples times; for example, if a cancer is treated and reappears. Depending on the policy, you can usually access your cover before it reaches the critical stages; for example, stage one of cancer.

The types of critical illnesses covered vary from one insurer to another. But, most major illnesses and types of surgery are covered by almost all policies. Ailments commonly covered by critical illness insurance include the following:

  • cancer
  • stroke
  • heart attack
  • coronary artery bypass surgery
  • kidney failure
  • Parkinson’s disease
  • major head trauma
  • major organ transplantation

For more information, get in touch with Expat Insurance. Their brokers are experienced in working with expats to determine the best term life insurance policies to suit their needs.

Written in collaboration with:
Expat Insurance
63110 3220
 | expatinsurance.com.sg

 

Read more in our Health & Fitness section.

Categories: Health & Fitness Medical Tags: Critical illness insurance Expat Insurance Health Insurance Illness Insurance Insurance Plans Medical Medical Insurance Singapore Health Insurance

Amy Greenburg

Originally from Los Angeles, Amy is passionate about Netflix, sipping rosé at rooftop bars, travelling, and all things health and wellness-related. She enjoys learning about different health topics through her writing, particularly critical health conditions, food allergies, alternative therapies, and pregnancy and postpartum-related issues

You May Also Like

dental facial orthopaedic and clear aligners orthodontics in singapore

A star in alignment – orthodontics and charity work

mould service in singapore

Choose the right mould removal service in Singapore

Plantar Fasciitis and knee injuries from running

How to avoid these 6 common running injuries

Primary Sidebar

  • Competitions
  • Noticeboard
  • Subscribe
  • About
  • advertise
  • Contact
  • Privacy

© 2023 Expat Living Singapore, All Rights Reserved.