Critical Illness Life Cover in Singapore
the 1st of July 2003, the Life Insurance Association of Singapore (LIA) and the General Insurance Association
of Singapore (GIA) have standardised the definitions of the list
of the 30 critical illnesses for consumers in Singapore.
standardised definitions have made it easy for consumers to compare critical illness cover from
different insurers, as well as made claims matters more easily clarified and more consistent.
will enable quicker settlement when a critical illness imposes a sudden financial burden on a policyholder, and reduce
the misunderstandings that may arise when one insurer pays a claim but another rejects it due to a
different definition of the same illness.
Essentially, a lump sum payout is
given in the
event that the Life Assured is diagnosed to be suffering from any one of the 30 Critical
The critical illness coverage is to offer a peace of mind when an
individual loses the ability to a regular income for a significant
amount of time.
The List of 30
Critical Illnesses in Singapore
full list of the 30 critical illnesses is categorized under 6 groups below for your understanding. The
categories are meant to make it convenient for the layman to make sense of it, so the classifications may not
(Loss of Sight)
(Loss of Hearing)
3) Loss of
to Internal Organs and Blood
Organ/ Bone Marrow Transplantation
Stage Lung Disease
Stage Liver Failure
Artery By Pass Surgery
& Other Invasive Treatment For Coronary Artery
to Brain & Head
Disease/ Severe Dementia
to Body and Movements
(Loss of Use of Limbs)
3) HIV Due
to Blood Transfusion and Occupationally Acquired HIV
the above of the 30 critical illness list will lead to any individual lose their job and their
ability to continue to earn a regular income. The newest critical illness life cover policies from one
of the insurance companies actually expands the list from 30 to 60 critical illnesses.
Thus, a lump sum payout will be made by the insurer to the policyholder. This also
explains why, for example, a loss of sense of smell is not in the list, as the ability to earn a regular income is
Expansion of the List of 30 Critical Illnesses to
From the 1st of April 2009, one local insurance company has increased the number of critical
illness life cover from 30 to 60 critical illnesses.
Not only has it increased the number of critical illnesses, it is also designed to allow
multiple claims, whether it is for the same or different critical illness.
Most importantly, there is NO waiting period required in between critical illness claims. And
this will prove to be a very important advantge to consumers when other insurance companies aim to amulate
this pioneer severity-based critical illness plan, known as Early-Payout CritcalCare (EPCC).
learn more about it, click here >> Early-Payout CriticalCare
speak to our financial consultant on this EPCC, click here >> Contact us for insurance tips
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