
#1 There is a 1 in 4 chance of being diagnosed with cancer in your lifetime

Did you know that 37 people are diagnosed with cancer every day?1 The top killer in Singapore, statistics have shown that everyone has a 20 to 25 per cent chance of being diagnosed with cancer in their lifetime.2 While cancer may be more likely to occur among older people, cancer can in fact occur at any age.3 A life changing diagnosis, it is therefore important to prepare ourselves for any unexpected situations.
(See "3 Reasons An International Health Plan Is For You")
#2 Rising rates of breast and prostate cancer in Singapore
The incidence of breast cancer has doubled while prostate cancer has increased by 6 times over the past 40 years.4 This rising rates of breast and prostate cancer in Singapore reflects a worrying trend with these among the top 3 common types of cancer among Singaporeans.5
Additionally, it is important to note that while critical illness insurance offers coverage against various different medical conditions and procedures, this excludes a stage 0 cancer diagnosis.6 Cancer insurance on the other hand pays out upon a diagnosis, regardless of the stage of cancer. As such, those worried about non-invasive, pre-malignant or carcinoma-in-situ tumours may wish to consider cancer insurance for full coverage and a peace of mind.
(See "Best Cancer Insurance Singapore")
Simple, high coverage, affordable. Insurance done right for your family.
#3 Medical advances have led to earlier detection and increasing survival rates
While there have been an increasing number of cancer cases, the advancements in medical technology has also led to the earlier detection of cancer.7 This in turn has resulted in increasing survival rates. However, with high medical inflation in Singapore, there is the concern of being unable to afford healthcare in future.8
Additionally, cancer requires long-term care and follow up treatments which may result in hefty hospital bills. A loss of income during your recovery period could also further stress your finances thus affecting your lifestyle and daily expenses with this unexpected diagnosis.
(See "What Happens If I Don’t Have Long-term Care Insurance?")
How cancer insurance can help
With a cancer plan, you would be able to make a claim upon diagnosis, regardless of the stage of cancer. Upon a successful claim, a lump sum is given. Unlike MediShield Life that operates on a reimbursement basis, cancer insurance does not place any limitations on how the money is to be used. This allows you to use the pay outs for your treatment costs, as income replacement or for your household expenses. Without having to worry about your finances, this allows you to focus on your recovery and adopt the appropriate treatment plan.

(See "Comparing Cancer Plans")
Available Cancer Insurance: |
FWD Insurance - FWD Cancer Insurance MSIG - Cancer Care Plus NTUC Income - NTUC Cancer Protect, NTUC Silver Protect Tokio Marine - TM Protect Cancer |
Cancer plans are suitable for:
Cancer insurance is not suitable for:
*Promotion: Enjoy 20% off your FWD Cancer plans with promo code "IFASTCAN20". Purchase can be made on FWD's website.
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Note: Information is accurate as of 16 October 2020 with changes subjected to the insurer's discretion.
Available Products on FSMOne Insurance |
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2Source: https://www.moh.gov.sg/resources-statistics/singapore-health-facts/principal-causes-of-death
4Source: https://www.straitstimes.com/singapore/health/breast-prostate-cancers-rising-sharply-in-spore
6Source: https://www.lia.org.sg/media/1464/lia-ci-framework-comparison-of-lia-definitions_2003-and-2004.pdf
7Source: https://www.healthhub.sg/live-healthy/1135/cancers-rise-but-survival-rates-also-up
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