Here are 4 features to look for in a critical illness insurance plan

 

Your critical illness insurance plan forms an important addition to your health insurance portfolio. Under this plan, you get paid a lump sum amount if you are diagnosed with any of the critical illnesses covered by the insurer (subject to the stage of disease covered). As defined by the Life Insurance Association (LIA) Singapore, there are 37 critical illnesses that should be covered by insurers in the country. These include major cancer, end stage kidney failure, major burns, and coma, among others.

As we can see, most critical illnesses may leave you unable to work for a few years during treatment. It may even leave a person unable to work for life. If a critical illness affects the sole breadwinner, the insurance payout can help keep the home financially afloat.

Critical illness insurance is indeed an important insurance product and this is why it is not enough to simply choose the first plan that comes along. You need to carefully compare...

READ MORE :  Here are 4 features to look for in a critical illness insurance plan.