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You Are Not Too Young To Buy Critical Illness Insurance

  Youth is a period of life associated with health, energy, and vitality. Hardly anyone ever thinks of sickness and disease striking them in their 20s or 30s. Unfortunately, ill health can come knocking when we least expect it to. Studies show that rare forms of cancer – such as Von Hippel Lindau – constitute a sizeable 25% of all cancers in Singapore. Worst yet, these rare cancers are more common among young adults in the country. Here’s another statistic – 1 out of every 10 patients suffering a stroke in Singapore is under 50 years of age. These days, high-stress careers and hectic lifestyles combined with wrong eating habits put almost anyone at the risk of developing severe diseases quite early in life. Sometimes, even if you maintain a healthy lifestyle, your genes could put you at risk of certain illnesses. And, a single illness requiring hospitalisation can wipe clean your entire savings. Now, you do enjoy a certain basic level of medical insurance through MediShield...
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4 Myths On Critical Illness Insurance That You Need To Stop Believing Today

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  We all are aware of the importance of health insurance. Even if you don’t already have your own Integrated Shield Plan, MediShield Life helps in the heavy lifting of hospitalisation costs during an illness. However, not many are aware of the uniqueness of another form of medical coverage known as critical illness insurance [FHG1]   . In fact, a study by LIA Singapore revealed that working adults in the country face a critical illness coverage gap of S$256,826 . That is no small figure by any means. Critical illness insurance pays you a lump sum if you are diagnosed with any of the dread diseases covered in the plan. This payout can be used as you deem fit – you can use it to pay for gaps in your existing coverage or even to run your household while you receive treatment. A diagnosis with critical illness often leaves a person unable to work as they receive life-saving medical treatment. In such a situation, the payout they get from critical illness insurance can truly he...
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  3 Milestones of Life for Which You Might Want Term Insurance True to its name, term life insurance covers you for a specific pre-determined tenure. When you buy this form of life insurance plan,   you select the term for which you want to be covered. The term can range pretty wide – leading insurers in Singapore are known to offer term insurance plans from 10 years to over 80 years. But how does one appropriately select the tenure of coverage? Surely there must be some yardstick? Honestly, the answer to those questions may differ from person to person. The tenure suitable for one person may not be suitable for another. A lot of things come into play when selecting the term for which you want coverage. You might want to keep your unique financial needs in perspective and think about how many dependents you have, among other things. You may also want the term plan to coincide with certain milestones in your life . In this article, we take a look at certain milestones...
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