insurance_advisor

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Protect Your Parents In Their Senior Years With
Cancer Insurance
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Studies show that around 1 out of every 4 people
in Singapore can end up developing cancer at some
point in their lives. And, cancer does not
discriminate by age. This might make you wonder
how will a senior person who is retired afford
the high costs associated with a disease like
cancer? The only way to stay secured against the
high incidence of cancer is by having cancer
insurance. Cancer insurance can form an
important part of your health insurance
portfolio. It can supplement the protection that
you already have either from MediShield Life or
from your private Integrated Shield Plan for
wholesome protection. In this blog, we will take
a closer look at the coverage that you can expect
from a cancer insurance plan.
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• What is cancer insurance?
• Cancer insurance is a type of plan that pays a
  lump sum amount if you are diagnosed with any
  form of cancer. If you are diagnosed with cancer
  you get 100 payout of the sum insured.
• The sum insured in a cancer insurance plan can
  range from S10,000 to S300,000. You can get
  coverage from the age of 1 right up till the age
  of 100 years.
• You can use the payout that you receive from
  cancer insurance for any expenses during your
  illness. It is important to remember that a
  diagnosis of a disease like cancer may leave you
  unable to go to work as you seek life-saving
  treatment. During this time, you will still need
  to pay your bills and keep your home running. The
  payout from your cancer insurance plan can help
  you make ends meet in such a situation. You can
  use the money to pay bills, pay off loans, and
  even hire a domestic worker if required.
• Your parents may have limited savings for their
  retirement years. A disease like cancer can eat
  into their savings with the numerous expenses
  such as multiple trips to the hospital and the
  need for a caretaker. Medical insurance will not
  cover such expenses. Thus, it is advisable to buy
  a cancer insurance plan to cover your parents
  against the heavy expenses which might accompany
  such a disease.

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• How to buy cancer insurance?
• You can easily get a cancer insurance plan online
  from an insurance companys website. It is
  possible to even get an instant online quote too
  by providing a few details such as your date of
  birth, gender and so on.

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• If you are looking for more coverage
• You can also consider buying critical illness
  insurance so that you stay covered against more
  diseases apart from cancer. Cancer is just one
  out of the many critical illnesses. A standard
  critical illness insurance plan in Singapore
  offers coverage against 37 critical illnesses
  such as major cancers, stroke, coma, kidney
  failure, multiple sclerosis, end stage lung
  disease, end stage liver failure, aplastic
  anaemia, and major head trauma, among others.
• If you are diagnosed with any of the diseases
  covered, you will get a lump sum payout.

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• If you are looking for less coverage
• While buying insurance for critical illnesses for
  your parents, you may also want to look into
  getting coverage for yourself. These days,
  critical illnesses can affect a person at any
  age it is always wise to be prepared with
  adequate coverage. You can either buy cancer
  insurance or critical illness insurance for
  yourself or even opt to buy coverage for specific
  types of cancers, such as prostate cancer
  insurance or breast cancer insurance. These are
  generally available as microinsurance plans on an
  insurance companys health app.
• We hope that this blog has been an insightful
  read for you and has helped you learn a bit more
  about cancer protection insurance.
• Take care, stay fit, and make sure to get
  yourself checked regularly by your doctor.