Singapore is consistently ranked as one of the most expensive countries to live and work in. It makes sense, therefore, that healthcare is no exception.
Let’s take a look at the cost of treating a common illness: Heart Disease. Heart disease is one of the most common killers in Singapore and was cited as a cause of death 30% of deaths in 2017. A conventional heart bypass surgery in an unsubsidised public hospital can cost you up to S$36,682.
However should you wish to seek treatment at a private hospital, that cost might even be doubled. In 2017, a man was billed S$78,000 for his treatment at a private hospital instead, when he wasn't able to secure a room in a public one.
Despite being one of the most significant expenses in Singapore, healthcare is the one that people are the least prepared for. Most Singaporeans just don’t have enough in savings to see them through a difficult health crisis.
Investing in an insurance product will literally cost you pennies compared to paying the full price of a ‘staycation’ in a hospital.
Make The Right Choice
Don’t gamble when it comes to your health. Invest in a critical illness insurance product.
What you need is an insurance plan that covers major illnesses like cancer and heart attacks. You want an insurance plan that actually provides the coverage you need. A plan that doesn’t try and skirt the very things it promised to deliver.
With CIMB Cancer Guard Plus, you get protection from the major diseases – cancer, heart attack and stroke to the age of 65. There’s no such thing as being too young to start or starting too late, either. If you’re between the age of 18 and 55, you’re eligible to sign up for our plans.
Here at CIMB Bank, we think of how we can help our customers first. That’s why we pay you a lump sum of up to S$75,000 in the event of you being diagnosed with cancer, suffering a stroke or a heart attack. No ifs, no buts, no maybes.
This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy amongst Singaporeans. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions that will improve everyone’s well-being. This in turn, achieves CIMB’s purpose of advancing customers and society.