Myths on Cancer Insurance in Singapore


As per the Protection Gap Study 2017 conducted by Life Insurance Association Singapore, the country faced a CI protection gap and mortality protection gap of about S$256,826 and S$169,673 per economically active adult, respectively. This comes to a national mortality and CI protection gap of S$893 billion. These figures illustrates the lack of coverage needed against financial repercussions in the events such as critical illnesses or death.

While these figures seem to be extremely staggering, the fact remains that Singaporeans are not sufficiently covered for cancer – one out of the many critical illnesses. This gap could come as a result of lack of awareness and understanding around cancer insurance. Hence, here are some very common myths on cancer insurance that are prevalent and we are here to debunk these myths.

Myth: Coverage for cancer is always included in an international health insurance plan:

This is not the case always. In a number of standard and basic health insurance plans, coverage for cancer is not included. These standard health insurance plans reimburse only for the eligible treatments. However, you do not need to fret, since it is quite easy to buy a good cancer insurance plan. 


READ MORE : Myths on Cancer Insurance in Singapore.

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