Group Critical Illness Insurance

Group Critical Illness Insurance

Critical illnesses tend to be attributed to four common modifiable risk factors – physical inactivity, unhealthy diet, tobacco and harmful use of alcohol. Critical illnesses like cardiovascular diseases and other non-communicable diseases like cancers and diabetes are responsible for 40 million annual deaths, including 15 million people aged between 30 and 70 globally1.

Seventy-four percent of deaths in Singapore are caused by critical illnesses2.

What is Group Critical Illness Insurance?

It refers to insurance covering events such as diagnosis of dread diseases including cancer, kidney failure, heart attack, stroke and paralysis, amongst others.

Product Highlights


Lump Sum Payout per person upon diagnosis -

S$10,000 (Plan A), S$20,000 (Plan B), S$40,000 (Plan C)

3 Coverage Options (Cancer Only, 3 Critical Illnesses or 37 Critical Illnesses)

Use Payout For



Special Diet


A caregiver to care for family members


Transport


Second Medical Opinion

Eligibility

Aged from 16 – 65 years. This age range caters to today’s workplace as people are living and working longer.

Proportional Mortality3

Did you know in Singapore?

  • 1 in 9 Singaporeans has diabetes4
  • 35 people are diagnosed with cancer every day5
  • 17 people die from cardiovascular disease every day6
  • 7.1% of the adult population is obese7

People have policies that would meet just 20 per cent or so of their needs. The gap of 80 per cent is very large.8 Employers stepping in to fill this gap will be seen as Employers of Choice with a stellar commitment in caring for their employees. By providing group insurance coverage for critical illnesses, their compensation and benefits package becomes market-leading as it goes beyond the traditional coverage for death and disability.

1Reported on 18 October 2017 - http://www.who.int/en/news-room/feature-stories/detail/thailand-s-physical-activity-drive-is-improving-health-by-addressing-ncds
2WHO, Non-communicable diseases country profiles, 2018.
3WHO, Non-communicable diseases country profiles, 2018.
4Prime Minister’s National Day Rally speech, 20 August 2018 
5Singapore Cancer Registry Annual Registry Report 2015
6Ministry of Health, Singapore
7AON Asia Healthcare Trends, 2017
8https://www.straitstimes.com/business/banking/working-adults-have-inadequate-cover-if-critical-illness-strikes-says-study

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