Singapore Insurance

Tokio Marine Asia (TM Asia) has also launched a critical illness plan which provides the first cancer-only coverage in Singapore. It allows up to 5 claims on early cancer with no waiting period between claims. One can chose the protection term of up to either age 60, 65 or 70. The premiums are also much cheaper compared to Great Eastern's Early Payout Critical Care and AXA's Early Payout Living Enhancer. This is probably due to the fact that TM Asia's plan only covers cancer and not the other critical illnesses.

AXA has recently launched a new Critical Illness protection plan similar to Great Eastern's Early Payout CriticalCare plan. AXA's Early Payout Living Enhancer offers the following: 1. Expedited payout at early stages of critical illness, so you will not need to dip into your savings to pay for early medical treatment. 2. Extensive coverage of up to 60 medical conditions, which supplements your existing critical illness plans. 3. Exemption of waiting period between multiple claims so you are well protected in the event of multiple critical illnesses, up to 100% of the Sum Assured. 4. Extra death benefit of S$15,000 to help defray the immediate living expenses of your loved ones.

Early Payout Critical Care from Great Eastern can be purchased as a standalone critical illness plan or as a rider to one of their plans. Some of the key features of the Early Payout Critical Care are as follows: 1. Standalone plan or rider with varying terms (6 years till age 75). Entry age is 1 to 65. 2. Able to opt from $50,000 to $1 million in coverage. 3. Early payout is based on differing severity levels for the 30 critical illnesses which are grouped into 3 groups of Severity 25, Severity 50 and Severity 100. 4. There are limits to what can be claimed under Severity 25 and Severity 50. 5. Possible for multiple claims across unrelated illnesses without any waiting period The advantages of the Early Payout Critical Care introduced by Great Eastern are as follows: 1. First plan in Singapore to offer payouts at earlier stages of cancer. 2. Multiple lump sum payouts at different stages of the same critical illness or across different critical illness. 3. No minimum waiting period bet...