5 Things To Know About Breast Cancer Insurance In Singapore
Breast cancer is one of the main forms of cancer affecting women in Singapore. Studies show that around 1 out of every 16 women will be diagnosed with breast cancer at some point in their life. This brings to attention the importance of having adequate insurance coverage for such an illness. This protection can come in the form of breast cancer insurance. Breast cancer insurance is a form of microinsurance that exclusively covers breast cancer. If you are looking to get this form of coverage, you may want to know a bit more about the protection you can receive. To that effect, we have listed down 5 things you need to know about breast cancer insurance in Singapore. • The payout Before taking an insurance plan, you would want to know how much of a payout you can expect to get. A breast cancer insurance plan generally offers a payout of around S$10,000 under a single valid claim.
• The premium Being a microinsurance plan, breast cancer insurance is affordable. A female, nonsmoker aged between 20 and 25 years (age next birthday) can expect to pay around S$9 for coverage that lasts for 12 months. That is extremely affordable indeed! • The coverage This plan offers coverage for all stages of breast cancer and coverage is automatically renewable. It is important to check whether your insurance provider has placed an age limit on those who can purchase coverage. Some insurers sell breast cancer insurance only to women aged between 19 and 39 years. • How to apply You can easily buy breast cancer insurance through the health app of an insurance company. No medical checks are required for you to get coverage. You just need to sign a quick health declaration and enjoy your active coverage.
• Waiting period and survival period It is important to note that a breast cancer insurance plan comes along with a waiting period and a survival period. The waiting period lasts for around 90 days from the cover start date and the survival period lasts for around 7 days upon initial diagnosis of breast cancer. • Critical illness insurance for more holistic protection If you are looking for wider coverage, you may want to consider taking a critical illness insurance plan. Critical illness insurance covers you against a range of diseases such as cancer, heart attack of specified severity, and end stage kidney failure, among others. You get a lump sum payout which can be used to help you manage your finances as you receive treatment for your illness. You can also look into getting other microinsurance plans such as prostate cancer insurance or dengue insurance cover for protection against specific illnesses. Do speak with a financial consultant for help in selecting the right plan and coverage as per your needs. We hope that this has been an informative read for you today. All the best!
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