MSIG Insurance has announced the launch of its new health policy, CriticalCare Plus, designed to provide coverage for five significant critical illnesses (CIs), including cancer, heart attack, stroke, Parkinson’s disease, and Alzheimer’s disease.
The policy offers four plan options, with a maximum payout of S$100,000 (approximately US$77,512). Policyholders can receive an accelerated payout of 50% of the sum insured upon the diagnosis of early-stage cancers, such as carcinoma-in-situ, early prostate cancer, and early thyroid cancer. Additionally, there is a provision for a 10% payout of the sum insured for angioplasties and other invasive coronary treatments.
To attract new customers, MSIG is offering a 25% discount on premiums for applications submitted by 26 September. While Singaporeans benefit from employer-sponsored and national health plans, these often fall short of covering the long-term needs associated with critical illnesses. A recent report highlighted a year-on-year increase of 10.3% in average healthcare costs in Singapore.
(S$1 = US$0.78)
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