AIA Complete Critical Illness Cover‏

Dear friends,

How much do you know about Critical Illness? And why is it so important that we need adequate coverage?  Here are some alarming facts and figures:

1.   There are 30 Critical Illnesses, with Cancer and Heart Diseases topping the list

2.   Every day in Singapore, 28 people are diagnosed with cancer*

3.   1 in 4 men and 1 in 5 women will contract one of the Critical Illness before age 65^{^}

4.   1 in 9 women will develop Breast Cancer and 1 in 2 men a risk of Cancer by 2022^{^}

5.   Critical Illness hits young and old alike and an increasing number of younger people succumb to cancer these days

6.   With the advances in medical science, many survive a critical illness - but could face financial difficulties.

One inevitably will be without a job when contracted with an illness and will be living off savings during the recuperation period. Upon recovery, getting back to the workforce may be a challenge as well

‘It will not happen to me’ seems the common tag line with most people. The question is, is it worth taking that gamble? When it does happen, it is too late. So shouldn’t we protect ourselves now, for the uncertain future, especially when the statistics above are so bleak?

Buying a critical illness insurance plan when one is young and healthy is important since the old and frail are no longer the only ones that face such illnesses. Young and healthy also mean cheaper premiums but more importantly, easier underwriting.  As soon as poor health sets in, buying a Critical Illness plan becomes difficult due to loading, exclusions or may even be declined

I’m sure most of us would already have some Critical Illness coverage, but the truth is, the traditional plan that most of us have would only pay out when cancer cells spread, which is usually at the later stages of cancer.  In other words, if the cancer has been diagnosed at the early stage, there will be no pay out.  When Critical Illness is detected early, that is when we have the best chance of a recovery. So isn’t that the time we need the money the most?

Fortunately, AIA has a comprehensive plan that covers for Early Stage Cancer. Apart from being able to claim at the onset, other benefits (but not limited to) include able to claim for major cancer relapse and you can make multiple claims with total pay-outs of up to 200% of your insured amount.

I believe it is very useful to have this Early Stage plan to complement your existing traditional plan to make your Critical Illness Coverage more complete.

If you are interested in AIA Complete Critical Cover, please let me know and I will be keen to share more with you, without obligation.

Regards,

Jonathan 

*Source: The Global Cancer Burden - The Straits Times, 4 February 2012
^Source: Office of National Statistics and Swiss Reinsurance and Tower Watson.