singapore insurance

  We all are aware of the importance of health insurance. Even if you don’t already have your own Integrated Shield Plan, MediShield Life helps in the heavy lifting of hospitalisation costs during an illness. However, not many are aware of the uniqueness of another form of medical coverage known as critical illness insurance . In fact, a study by LIA Singapore revealed that working adults in the country face a critical illness coverage gap of S$256,826 . That is no small figure by any means. Critical illness insurance pays you a lump sum if you are diagnosed with any of the dread diseases covered in the plan. This payout can be used as you deem fit – you can use it to pay for gaps in your existing health insurance coverage if your treatment expenses surpass the coverage limit or even to cover your household expenses while you receive treatment. A diagnosis with critical illness often leaves a person unable to work as they receive life-saving medical treatment. In such a situation, the