Singapore – MSIG Insurance has introduced a new health policy, CriticalCare Plus, designed to provide coverage for five major critical illnesses (CIs): cancer, heart attack, stroke, Parkinson’s disease, and Alzheimer’s disease.
The CriticalCare Plus policy offers four different plan types, with a maximum payout of S$100,000 (approximately US$77,512). Notably, policyholders will receive an accelerated payout of 50% of the sum insured upon diagnosis of early-stage cancers, such as carcinoma-in-situ, early prostate cancer, and early thyroid cancer. Additionally, there will be a 10% accelerated payout for angioplasties and other invasive treatments related to coronary artery issues.
To incentivize new customers, MSIG is offering a 25% discount on premiums for those who apply by September 26.
While Singaporeans benefit from employer-sponsored and national health plans to help cover medical expenses, these plans often fall short of meeting the long-term financial needs associated with critical illnesses. A recent report highlighted a 10.3% year-on-year increase in average healthcare costs in Singapore, underscoring the importance of supplemental health coverage.
(S$1 = US$0.78)
