Always protect your health

Critical Illness Insurance reduces your financial burden when diagnosed with one of the specified critical illnesses or disabilities during the period of coverage. The Critical Illness plan is usually effected on a stand-alone basis or included as an optional benefit (also known as a rider) to a life insurance policy.

The payable sum under a stand-alone Critical Illness plan typically includes a clause known as a Qualifying Period. A qualifying period states that in order to be eligible to receive the sum assured, policyholders must survive for a predetermined length of time, which typically ranges between 7 and 30 days from the date of diagnosis of their specified critical illness. When a Critical Illness plan is included as a rider on a life insurance policy, the policy normally pays out an accelerated guaranteed lump sum immediately upon diagnosis without the need for a qualifying period.

Since July 1, 2003, the Singapore insurance industry has adopted common definitions for all critical illnesses as defined by the Life Insurance Association (LIA) of Singapore. This means that all Singapore authorised insurance companies will define each illness covered the same way. For plans taken out prior to July 1, 2003 or effected in other jurisdictions, reference should always be made to individual policy documents for definitions of the critical illnesses covered.

List of Critical Illnesses (Industry Standard in Singapore)

Alzheimer's Disease / Severe

Dementia

Angioplasty & other Invasive

Treatment for Coronary

Artery / (Progressive

Scleroderma)

Aplastic Anemia

Apallic Syndrome

Bacterial Meningitis

Benign Brain Tumour

Blindness (Loss of Sight)

Coma

Coronary Artery Bypass

Surgery

Deafness (Loss of Hearing)

Encephalitis

End Stage Liver Failure

End Stage Lung Disease

Fulminant Hepatitis

Heart Attack

Heart Valve Surgery

HIV Due to Blood

Transfusion & Occupationally

Acquired HIV

Kidney Failure

Loss of Independent

Existence

Loss of Speech

Major Burns

Major Cancers

Major Head Trauma

Major Organ / Bone Marrow

Transplant

Motor Neuron Disease

Multiple Sclerosis

Muscular Dystrophy

Paralysis (Loss the use

of Limbs)

Parkinson's Disease

Poliomyelitis

Primary Pulmonary

Hypertension

Progressive Scleroderma

Other Serious Coronary

Artery Disease

Stroke

Surgery to Aorta

Systemic Lupus

Erythematosus with

Lupus Nephritis

Terminal Illness

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The views expressed in this article reflect the personal views of the writer. The information provided herein is general in nature and does not have regard to the specific investment objectives, financial situation or the particular needs of any person. Professional Investment Advisory Services Pte Ltd and its affiliates, directors, associates, connected parties, employees and/or representatives may own or have an interest in the securities covered in this article. This article shall not be construed as an offer or solicitation to buy, sell or subscribe for any investment product and collective investment scheme or the giving of advice thereof.