There’s difference between cancer insurance plan and critical illness insurance.

Make sure you continue reading and don’t make the mistake!

Cancer Insurance Plan Vs. Critical Illness Insurance

Critical illness insurance covers list of 37 critical illnesses in Singapore and all insurance companies will have to follow these list defined by Life Insurance Association Singapore.

The definition for major cancers are:

A malignant tumour positively diagnosed with histological confirmation and characterized by the uncontrolled growth of malignant cells with invasion and destruction of normal tissue.

The term malignant tumour includes leukemia, lymphoma and sarcoma.

For the above definition, the following are excluded:

  • All tumours which are histologically classified as any of the following:
    • Pre-malignant; Non-invasive;
    • Carcinoma-in-situ;
    • Having borderline malignancy;
    • Having any degree of malignant potential;
    • Having suspicious malignancy;
    • Neoplasm of uncertain or unknown behavior;
    • or Cervical Dysplasia CIN-1, CIN-2 and CIN-3;
  • Any non-melanoma skin carcinoma unless there is evidence of metastases to lymph nodes or beyond; • Malignant melanoma that has not caused invasion beyond the epidermis;
  • All Prostate cancers histologically described as T1N0M0 (TNM Classification) or below; or Prostate cancers of another equivalent or lesser classification;
  • All Thyroid cancers histologically classified as T1N0M0 (TNM Classification) or below; • All tumours of the Urinary Bladder histologically classified as T1N0M0 (TNM Classification) or below;
  • All Gastro-Intestinal Stromal tumours histologically classified as T1N0M0 (TNM Classification) or below and with mitotic count of less than or equal to 5/50 HPFs; • Chronic Lymphocytic Leukaemia less than RAI Stage 3; and
  • All tumours in the presence of HIV infection.

From above, you understand that carcinoma-in-situ cases are not included. Therefore, many insurers came out with early stage critical illness insurance coverage to bridge the gap.

Cancer insurance plan/policies however does not cover for 37 critical illnesses. It is a “plain vanilla” policy that covers only cancers.

The definition could be similar. However, it is best to read the terms and conditions of the policies.

Be Careful!

Why should you be careful?

Consumers might think by purchasing a cancer insurance plan, they are comprehensively covered. As the premiums for cancer insurance plans could be more affordable, never think that with this policy, you are very holistically covered.

Cancer insurance plans are good to enhance your cancer coverage but it doesn’t increase the rest of the coverage like Stroke, Heart By-Pass surgery etc etc.

Therefore, within budget, if you could, please cover for both kind of insurance policies to have a wide coverage and covered comprehensively.

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