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Ill health is often an occurrence that we tend to associate with advanced age. However, that assumption can sometimes prove to be false. These days, many serious illnesses - like cancer - do occur in youths as well. Fortunately, the many advancements in medicine allow for these diseases to be treated successfully. On the flip side, the expenses can be so enormous and end up draining your savings. This is where having a proper coverage through cancer insurance or critical illness insurance helps.
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Ill health is often an occurrence that we tend to associate with advanced age. However, that assumption can sometimes prove to be false. These days, many serious illnesses - like cancer - do occur in youths as well. Fortunately, the many advancements in medicine allow for these diseases to be treated successfully. On the flip side, the expenses can be so enormous and end up draining your savings. This is where having a proper coverage through cancer insurance or critical illness insurance helps.
Cancer insurance – an important addition to your health insurance portfolio According to data from the Ministry of Health in Singapore, cancer has consistently proved to be one of the principal causes of death in the country. This is worrying and reminds us of the need to get frequent health check-ups done. If cancer is detected early on, the chances of treatment being successful are much higher. However, this brings us to the question of affording treatment. Your MediShield Life or Integrated Shield Plan can help tackle the hospital bills if you fall ill. Surgeries, chemotherapy cycles, and other related tests will get taken care of within prescribed limits. However, the costs of developing a critical illness like cancer don’t just end there.
There are other expenseslike transport to the hospital for treatment or the salary of a domestic worker to care for you while you recover…all of these can put a deep dent in your savings. Plus, you may also decide to take a break from work, and stop working to focus on recovery. The payout from cancer insurance can help you meet your financial obligations while you get treatment for your illness. In essence, you can get a peace of mind to breathe easy and focus on your recovery with cancer insurance.
But do I need cancer insurance now? Cancer does not always wait until the later years to show up. People are known to develop cancers at a much younger age too – even in their 20s. This stark reality sheds light on the importance of getting cancer insurance at an early age.
If you are unfortunately impacted by cancer at an early age, you may not have a corpus of savings. You might still have a student loan that needs paying or, perhaps, a home mortgage. All of these debts can end up falling on the shoulders of your loved ones. Moreover, if you are the sole breadwinner of your family, your family members may have no means by which to pay the bills and keep food on the table. With the payout from a cancer insurance plan, you can make ends meet. Some of the best cancer insurance plans in the country offer a payout as high as S$300,000 for all stages of cancer. You get coverage up to age 100 for complete peace of mind.
The payout from cancer insurance can be used for any expense that you face. For instance, you can use it to: • Afford co-payment in health insurance • Pay your rent or mortgage • Pay monthly dues towards loans or credit cards • Afford the salary of a domestic worker • Buy groceries Your coverage essentially supports you financially should the unfortunate happens . With proper planning, you will have the assurance to afford the treatment you need and will not have to cut corners to survive at a time when access to the best in healthcare is of prime importance.
There are many benefits to buying cancer insurance when you’re young! Yes! If you buy insurance in your younger years, you will enjoy benefits such as these – • Your premiums will most likely be a lot cheaper • You get to plan your finances before you take on responsibilities like a family of your own • Application for coverage will be much smoother if you don’t have any existing medical condition
In conclusion The future can be quite unpredictable and thus, it is always better to be prepared for it. Having adequate insurance coverage in place gives you true peace of mind in difficult times. Don’t forget to also look into getting cancer protection insurance for your loved ones as well so that they too come under the protection of coverage. You can easily get an instant quote and buy cancer insurance online these days as well. Take care, stay healthy, stay safe.
