Cancer is one of the leading causes of death in Singapore.
Even though medical technology has become advanced in recent years, there is still no fool-proof way for us to avoid cancer.
Thus, it is important to ensure that you are prepared in the event of cancer, which can be an extremely costly affair.
The Cost Of Cancer
While we can ensure that we lead a healthy lifestyle, there is no absolute prevention or vaccine for cancer, and the disease can strike anyone, even young adults.
Ensuring that our financial planning efforts are able to cover the medical costs arising from an illness like cancer is of utmost importance.
While Singaporeans and PRs are automatically covered under MediShield Life, we cannot assume that these plans will be able to sufficiently take care of all our expenses.
Furthermore, medical insurance covers our hospitalisation and treatment costs, but we are likely to incur many other additional costs, such as support at home, or a loss of income from not working. All of these… can add up to a significant amount.
Since cancer is the most common type of critical illness in Singapore, it is only logical that many of us would buy a cancer insurance plan for coverage against cancer.
Getting cancer coverage
The CIMB Cancer Plus Guard gives you protection against major cancer, heart attack, stroke and early cancer until you reach 65 years old.
With the plan, you will receive a lump sum of up to S$75,000, in the event that you are diagnosed with a major cancer, suffer a stroke, or suffer a heart attack.
It also allows you to receive a payout, should you be diagnosed with early cancer.
Important Notes & Disclaimer
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.