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, both medically and financially. If you're looking for a straightforward, comprehensive cancer insurance plan, TM Protect Cancer by Tokio Marine Life Insurance Singapore Ltd. might be the solution you've been searching for.
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TM Protect Cancer is a non-participating term plan designed to provide financial support when you're diagnosed with cancer, allowing you to focus entirely on your recovery. This yearly renewable plan offers up to S$150,000 insurance coverage for cancer and is tailored for adults between 30 and 65 years old, with coverage extending until the age of 85.
Choose coverage from S$50,000 up to S$150,000. Protects against both early and advanced stage cancers.
Receive 50% of the sum assured upon early stage cancer diagnosis . Policy continues with reduced premiums and sum assured.
Get 100% of the sum assured for advanced stage cancer diagnosis .
Just answer 7 health questions. No medical examination required.
Your coverage is guaranteed to be renewed annually, regardless of health changes.
If you're diagnosed with early stage cancer, you'll receive 50% of your chosen sum assured . For example, if you have S$100,000 coverage, you'll get S$50,000. Your policy will continue with reduced premiums and sum assured.
If you're diagnosed with advanced stage cancer, you'll receive 100% of your sum assured . Using the same example, you'd get the full S$100,000.
If you've already claimed for early stage cancer and are later diagnosed with advanced stage cancer, you'll receive the remaining sum assured. In our example, you'd get the remaining S$50,000.
TM Protect Cancer offers flexible coverage options:
You can choose the amount that best suits your needs and budget.
The premium rates for TM Protect Cancer vary based on several factors: age, gender, and smoking status. Here's a simplified breakdown of annual premium rates per S$1,000 of sum assured:
For Non-Smoking Males:
For Non-Smoking Females:
Smokers and older individuals generally pay higher premiums. For example:
For Smoking Males:
For Smoking Females:
It's important to note that these rates are per S$1,000 of coverage. So, if you want S$100,000 coverage, you'd multiply these rates by 100.
Imagine you're a 40-year-old non-smoking male with S$100,000 coverage. You're diagnosed with early stage prostate cancer. You'd receive S$50,000 (50% of your sum assured) . Your policy would continue with S$50,000 coverage at a reduced premium. You can use this money for additional treatments, loss of income, or any other purpose.
Now, let's say you're a 55-year-old non-smoking female with S$150,000 coverage. You're diagnosed with advanced stage breast cancer. You'd receive the full S$150,000 lump sum . Your policy would terminate after this payout. This money could help cover expensive treatments, support your family, or maintain your lifestyle during recovery.
Consider you're a 50-year-old smoking male with S$120,000 coverage. You're first diagnosed with early stage lung cancer, then it progresses to advanced stage. At early stage diagnosis, you'd receive S$60,000 (50% of sum assured). When it progresses to advanced stage, you'd get the remaining S$60,000 . This staged payout ensures you have financial support throughout your cancer journey.
Simple application process with just 7 health questions
No medical examination required
Covers both early and advanced stage cancers
Guaranteed renewable regardless of health changes
Flexible coverage options to suit different needs and budgets
Covers only cancer, not other critical illnesses
Premiums increase with age
Smokers pay significantly higher premiums
Maximum entry age is 65, which might not suit older individuals
The acceptance depends on your answers to the 7 health questions. Some conditions may affect your eligibility.
This plan specifically covers cancer. It doesn't provide benefits for other critical illnesses.
You should check with Tokio Marine about options for adjusting your coverage after purchase.
Like most insurance policies, there are exclusions. For example, cancers caused by drug or alcohol abuse may not be covered.
Contact Tokio Marine as soon as possible after the cancer diagnosis. They will guide you through the claim process.
TM Protect Cancer offers a straightforward approach to cancer insurance. With its simple application process, comprehensive cancer coverage, and guaranteed renewability, it provides a solid financial safety net against the impact of cancer. The plan's flexibility in coverage amounts and its provision for both early and advanced stage cancers make it an attractive option for many.
However, as with any insurance decision, it's crucial to carefully consider your personal needs, health status, and financial situation before making a choice. While TM Protect Cancer offers robust cancer protection, it's important to remember that it doesn't cover other critical illnesses or provide life insurance benefits.
Remember, the best insurance plan is one that fits your specific circumstances and gives you peace of mind. If you're considering TM Protect Cancer or any other cancer protection plan, it's always wise to consult with a financial adviser who can provide personalized recommendations based on your unique situation.
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 protection insurance. These professionals will review your specific situation and provide personalized recommendations, helping you make the most informed decision possible.
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