1. Odds are high with longer life expectancy, yet living in poorer health – National Registry of Diseases Office estimates that 1 in every 4-5 Singaporeans have a lifetime risk for developing cancer.
2. Medi-limits – When you’re recovering from a serious illness, being unable to afford the full cost of your treatment is the last thing you need. This is where a CI plan becomes useful. The payout can be used to cover the shortfall in your MediSave account, or make up for the limits of your MediShield Life payout.
3. Hospital plans do not cover all types of expenses – Hospitalisation insurance won’t cover all your expenses. A CI plan can make up for what hospital insurance can’t cover – and not just in terms of medical fees.
4. Your savings will not last if CI strikes – Your savings won’t last long in the wake of a critical illness. The real value of a CI plan comes from its flexibility. Unlike health insurance, you’re free to use the CI payout for expenses beyond medical treatment.
5. The younger you are and in better health, the more you need to look into it – It seems strange to get a CI plan while you’re young, healthy, and have no immediate need for it. If that’s where you are, now is the best time to get CI insurance. Not only are premiums more affordable the younger and healthier you are; you’ll also get full coverage for the plan’s illnesses.
#wiLSon #LifeStrategist #criticalillness #youngandhealthy
Read more: https://www.manulife.com.sg/en/insights/is-critical-illness-insurance-necessary.html?fbclid=IwAR0JNQOSpEwxkjsMKSX6EZj1tJ3gJPuYVLm5YGegmE7-LRcnexMemqrBriA