When To Buy A Critical Illness Insurance Policy In Singapore


Critical illness is that phase where you will not be in any position to arrange for any money at the time, and you will have no other option but to use the critical illness insurance policy coverage to pay for the expenses that had occurred when you were hospitalised and were diagnosed using huge technology and then you were operated on using a high tech machine and then the doctor was also trying to find out more about the disease while he or she was trying to remove it fully from your body.

Maid insurance promotion Singapore is the one thing that is being advertised in the market so that people come to know about this type of insurance policy. The people should also come to know about the coverage that is provided in the insurance policy and also the advertisement will tell you the provision of the Singapore government which tells that everyone should take this policy to protect your maid from any unexpected expenses.

Many people might still be wondering after reading this article that why should they consider buying the critical illness insurance as they have this saying that those people who are fit and young cannot be affected by these type of diseases soon, but they are wrong as this type of illness can be caught by anyone unwillingly also when it was the least expected by the people.

Many people are still in their own imaginary world and are thinking that when to buy critical illness insurance but there is no right time to buy this type of insurance as this illness might catch up to anyone and at any time as this illness will not come to any person after making them aware about its presence and also the right time that many people are thinking is at the age of 18 years when all the young people are prone to illness and diseases of different types.

There are many people who will be thinking that no need to buy this illness insurance as we have already taken the hospital and medical expenses insurance policy, but there are unfortunately wrong as these policies will not be able to give the owner enough money to pay for all the money that is going to be required by them to pay for the diagnosing and also the treatment of this illness as this will require a lot of high tech stuff to be used by the doctor who will require a huge amount of money to use and will be covered by the critical illness insurance policy.

How does critical illness insurance provide a huge difference?

The most important thing about taking a critical illness cover is that you will have a lump sum amount of money that you can pay the reception of the hospital and also they will give you some extra amount of money as the patient will need extra money to buy all the medicines and also to buy all the necessary medicines which are prescribed by the doctor so that the patient is calm and also silent at all times and does not feel any pain at all while resting.

These include expenses like daily bill expenses and also covers charges like daily medicine expenses which is very necessary if you want the patient to take absolute rest so that they can recover easily from the illness and also this can be used to make them feel good.

This cover will provide money till the time that you are not earning any money and has been advised by the doctor to stay at home and take absolute rest and do not take any tension or any physical stress.

Things to keep in mind while taking critical illness insurance

  •  How much is enough

The amount of time for which you have to take is totally depended on you and also the disease which you are facing, but mostly all the investors will tell you to take a minimum of 60 months cover as this is the time period which is minimum to recover from common illness.

But illness like cancer and cardiovascular disease will take a time period of more than 60 months for the patient to finally recover and be declared physically fit and fine.’

  •  What type of plans should you take?

No matter the company from which you are taking the policy from, but this depends solely upon the person who is taking as there are mainly four types of plans which you can take which are early-stage, basic plan, and one-time payment plan and multi-time pay.

Early will allow the patient to withdraw the amount of money before they have started experiencing the ill effects, and they cannot use this money if they are not feeling ill.

  •  Does your family have a history?

If your family has a history of repetitive critical illness, then you should consider taking a multi-time pay plan as in this plan you can pay for the amount of money charged both or more than two times until you are totally free from the illness and if your family members have it then this is a very common thing, and you too might have the illness, but you might be able to feel this illness alter on the stage of your life.

  •  Does the plan include a waiting or survival period?

Some critical illness insurance plans have these things where you will have to wait for sometimes after you have been diagnosed with the illness and usually the period is about 7 to 14 days and this type of plan is called as waiting period time.

The plan in which you have to survive a particular period of time in order to receive the amount of money is called as survival period plan in which you will receive the money only after being diagnosed with the disease and surviving till a time period like one month.

I hope you get the information you were looking for in this article.