Cancer is a word that strikes fear into the hearts of many. Did you know that in Singapore, about 1 in 4 people may develop cancer in their lifetime ? This sobering statistic highlights the importance of being prepared. If you're looking for a way to protect yourself financially against the risk of cancer, Etiqa Cancer Insurance might be the solution you've been searching for.
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Etiqa Cancer Insurance is a yearly renewable, non-participating term plan designed to provide financial protection if you're diagnosed with cancer . It covers all stages of cancer, from early to advanced, and also includes a death benefit. This plan is straightforward and focused, aiming to give you peace of mind without complicated features or high premiums.
Covers all stages of cancer, including early-stage diagnoses. Payout of 100% sum insured upon cancer diagnosis.
Automatically renews each year until age 85. Ensures continuous coverage as you age.
6% discount on renewal premium if no claims are made in the previous year. Rewards you for staying healthy.
No medical check-up required for most applicants. Quick and easy to get covered.
Competitive rates to fit your budget. Premiums guaranteed for the first year.
It's important to note that the policy defines cancer quite comprehensively. It includes malignant tumors, carcinoma-in-situ, and other specific conditions. However, there are some exclusions, such as certain pre-malignant conditions and non-melanoma skin cancers unless they've spread.
Pays out 100% of the sum insured if you're diagnosed with any stage of cancer . Maximum coverage of S$200,000 per life insured. Includes carcinoma-in-situ (very early-stage cancer).
Pays out S$5,000 if you pass away while the policy is in force. Provides a small financial cushion for your loved ones.
The maximum coverage amount for the Cancer Benefit is S$200,000 per life insured . You can choose a sum insured that fits your needs and budget, up to this maximum limit.
The premium for Etiqa Cancer Insurance depends on several factors:
The good news is that premiums are guaranteed for the first year of coverage . After that, they may be adjusted at renewal, but Etiqa promises to give you 30 days' notice of any changes.
Remember, you also get a 6% No Claim Discount on your renewal premium if you don't make any claims in the previous year. This can help keep your costs down over time.
Your policy automatically renews each year until you reach age 85, as long as you pay your premiums. This ensures you maintain coverage even as you get older.
You have 14 days after receiving your policy to review it. If you decide it's not right for you, you can cancel and get a refund of your premium (minus any costs incurred by Etiqa for medical check-ups).
If you're diagnosed with cancer, the claims process is designed to be straightforward, allowing you to focus on your health rather than paperwork.
Imagine you're diagnosed with early-stage breast cancer. You'd receive 100% of your sum insured. This payout could help cover treatment costs, loss of income, or other expenses. Your policy would end after this payout, having fulfilled its purpose.
If you're diagnosed with advanced lung cancer, you'd receive 100% of your sum insured. This could help with potentially more expensive treatments or allow you to focus on quality of life without financial stress.
If you remain cancer-free, you continue to enjoy peace of mind year after year. You benefit from the 6% No Claim Discount each year. If you ever need to claim in the future, you're covered up to age 85.
Covers all stages of cancer
Guaranteed renewability up to age 85
No Claim Discount rewards staying healthy
Simple and focused coverage
Affordable premiums
No survival benefit or cash value
Premiums may increase at renewal
Maximum coverage limited to S$200,000
Only covers cancer and death, not other critical illnesses
There's a 90-day waiting period from the policy start date. If you show first symptoms of cancer during this time, you won't be eligible for the Cancer Benefit.
Any pre-existing conditions you have before the policy starts won't be covered unless you declared them and Etiqa accepted them.
This is a pure protection plan. It doesn't accumulate cash value over time.
While renewal is guaranteed, premiums may change each year based on your age and Etiqa's rates at the time.
You should declare any pre-existing conditions. Etiqa will assess whether they can offer you coverage.
There's a 90-day waiting period. If you show first symptoms during this time, you won't be eligible for the Cancer Benefit, but Etiqa will refund your premiums.
You should check with Etiqa about options for increasing coverage at renewal time.
If you fail to pay premiums on time, your policy will terminate. It's important to keep up with payments to maintain coverage.
Generally, life insurance payouts in Singapore are not taxable, but you should consult a tax professional for advice specific to your situation.
Etiqa Cancer Insurance offers a straightforward and affordable way to protect yourself financially against the risk of cancer . With its comprehensive coverage of all cancer stages, guaranteed renewability, and No Claim Discount, it provides valuable peace of mind. However, it's important to remember that this is a focused plan – it covers cancer and provides a small death benefit, but doesn't extend to other illnesses or provide any cash value.
As with any insurance decision, it's crucial to consider your personal health history, family medical history, financial situation, and overall insurance needs. While Etiqa Cancer Insurance can be an excellent addition to your financial protection plan, it shouldn't be your only form of health or life insurance.
Ready to explore your options further? Don't rely on just one perspective. Get expert insights tailored to your unique needs. Sign up now to receive 5 expert opinions on cancer insurance . These professionals will review your specific situation and provide personalized recommendations, helping you make the most informed decision possible.
By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best coverage for your needs. Don't leave your protection to chance – get the expert advice you deserve today.
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