Critical Illness & Early Critical Illness - Differences
With nearly 1 in 3 deaths linked to heart disease or stroke, many Singaporeans remain underinsured for critical illness. This article breaks down critical illness and early critical illness differences to help you understand better on the differences,
What is Critical Illness?
In August 2020, the definition of critical illnesses in life insurance policies was updated for clarity. Currently, 37 critical illnesses are listed on the Life Insurance Association (LIA) Singapore’s industry list. The five most prominent critical illnesses include:
Major cancer
Heart attack of specified severity
Stroke with permanent neurological deficit
Coronary artery bypass surgery
End-stage kidney failure
It’s important to note that the definitions for these 37 critical illnesses generally refer to advanced stages. For instance, kidney failure must be end-stage with irreversible failure in both kidneys.
Anything falls outside of the traditional definition for critical illness would not be claimable should user be insured only with critical illness coverage and not early stage critical illness.
What is Early Critical Illness?
Imagine undergoing a cancer screening and discovering you have stage 1 colorectal cancer—one of the most common cancers among men in Singapore. At this stage, the cancer is contained within the colon or rectum wall without spreading to nearby tissue.
Early detection gives high survival rates of around 84% for men and 86% for women. But the question remains: “Will your critical illness insurance cover the treatment cost?”
Standard critical illness plans cover only 37 specified illnesses, typically at advanced stages. For cancer, only later stages are categorized as 'Major Cancer,' meaning early-stage cancer would not trigger a payout.
An early-stage critical illness plan helps bridge the gap when you're diagnosed with a critical illness at an earlier stage than covered by a traditional plan. Like traditional plans, it provides a payout you can use for treatment and living expenses.
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With advancements in early health screenings, this type of insurance proves invaluable for managing medical costs and allowing you to focus on recovery.
