Best Cancer Insurance Plans in Singapore

With Integrated Shield Plans only covering cancer drugs under the approved outpatient cancer drug list from the Ministry of Health, it’s time to look up cancer insurance plans to cover your insurance gaps.

Cancer is an unwelcome visitor that can knock on anyone’s door. Aside from the physical and emotional toll, it can hit your wallet hard if you lack cancer insurance coverage—especially now, when there’s no longer cancer insurance coverage under Integrated Shield Plans. Is it possible to pay for your cancer treatments without affecting your finances too much?

This article showcases the best cancer insurance plans in Singapore, so you can find the ideal match for your cancer coverage needs and safeguard your finances.

Related Story: VC Compares: Critical Illness Plans VS Cancer Insurance

At a Glance: Cancer Insurance Plans 

Best Cancer Insurance Plan with Premium Savings: Tiq Cancer Insurance

This cancer insurance plan applies a practical approach to your cancer coverage. It gives you holistic coverage with 100% coverage for all cancer stages. You don’t have to think about costly medical bills, as it has you covered.

Next, it also has a 6% yearly savings feature. If you do not make any claims on your last policy term, a no-claim discount applies when you renew the cancer insurance plan in the next term.

Tiq cancer insurance also allows yearly policy renewals up to the age of 85 years, with premiums as low as S$0.27 daily. There is also a death benefit of S$5,000, paid in one lump sum.

Promotion

1 March to 30 April 2024: Use promo code “CANCER30” to get 30% off and Up to S$100 eCapitaVouchers when you BUY NOW! T&Cs Apply.

Best Cancer Insurance Plan with Comprehensive Features: FWD Cancer 2.0 

If you’re looking for comprehensive cancer insurance coverage, this plan is your best match. With FWD, you get pre-early cancer coverage payouts, which is an additional amount of 10% sum insured or S$10,000 (the lower sum applies), including for early tumour diagnosis and treatment. This benefit does not affect the other coverages you have.

You will also receive a full 100% payout for all cancer stages, regardless of the stage of cancer diagnosis. This will come in handy for treatment expenses or other commitments to pay for. As for subsequent new or recurring late-stage cancer diagnoses, multiple payouts apply, so you will still receive your 100% sum insured.

FWD also provides a free medical second opinion for either your cancer diagnosis or treatment plan. You will also gain access to over 600 MHC GPs, dental, and specialist clinics at exclusive rates under the FWD HealthFirst Programme.

Under its Optional Benefit, you could continue to enjoy coverage for early-stage cancer via the add-on Early-stage Reload Benefit. If your early- to late-stage cancer claim is approved, this optional benefit allows the policy to go into a 24-month reload period.

Promotion:
22 April to 30 April 2024: Use Promo Code “POLICYPAL” to get 10% discount

Related Story: Best Critical Illness & Cancer Insurance in Singapore 2023

Best Cancer for Lump Sum Cancer Coverage Payments: MSIG CancerCare Plus

MSIG’s CancerCare Plus provides two cancer coverage types. Under its Major Cancer benefit, insurers can receive a full payment of S$100,000 if they fall under the Major Cancer category. As for early-stage cancer patients, they fall under the Accelerated benefit segment and can receive S$50,000 in cancer coverage pay-outs.

For early-stage cancers, the coverage includes Carcinoma in Situ, early prostate cancer, early thyroid cancer, early bladder cancer, early chronic lymphocytic leukaemia, and gastro-intestinal stromal cancer. The accelerated benefit is a one-off coverage and ceases after a payment occurs. The policy still remains in force, with a remaining S$50,000 to protect you in the event you’re diagnosed with a Major Cancer illness.

MSIG CancerCare Plus continues with automatic renewal, even after the Accelerated Benefit for Early Stage Cancer payout is enforced. There are monthly and annual premium payment options available. 

Promotion

28 March to 6 May 2024: Get 20% discount when you BUY NOW!

Best Critical Illness Coverage with Flexible Coverage Sums: TIQ 3 Plus Critical Illness

This plan by TIQ is popular for its ability to cover heart attack, stroke, and all cancer stages at a low cost. You will be able to pick the best coverage sum for you—from S$30,000 to S$300,000—based on its flexible cancer coverage calculator.

You can opt to renew your TIQ critical illness plan annually up to age 85 without the hassle of a medical checkup. There is also an optional rider for Heart and Neurological Disorders, which gives a one-time payout of one out of 24 conditions that could affect your heart or brain.

You could also consider applying for complimentary cover for your kids (up to four children) for S$20,000 in death benefit.

Promotion

1 April to 30 April 2024: Get 50% off and Up to S$100 eCapitaVouchers when you BUY NOW! T&Cs Apply.

Best for Enhanced Critical Illness Coverage: FWD Big 3 Critical Illness

FWD takes critical illness coverage to great heights, with 100% sum insured or total premiums paid (the higher one applies) for all cancer stages, late-stage heart attacks, or late-stage strokes. The staggering fact? These make for 90% of critical illness claims, according to a Gen Re Dread Disease Survey in 2022.

You will be able to renew coverage up to the age of 85 years, with the option to enhance your coverage for heart and neurological disorders. Similar to its cancer insurance plan, you benefit from complimentary tele consultations and access to general practitioners, dentists, and specialists under FWD’s HealthFirst Programme.

Promotion

8 April – 30 April 2024: Use promo code “POLICYPAL” to get 35% off!

Which Do You Opt for—Cancer Insurance or Critical Illness?

While both plans may offer lump-sum payments upon a cancer diagnosis, critical illness insurance covers up to 37 severe-stage critical illnesses, which include major cancers.

The premiums may be costlier, a price to pay for more extensive critical illness coverage.

Cancer insurance plans are specific and cover cancer stages comprehensively. If you are concerned with a higher likelihood of contracting cancer (due to family history, for instance), you could opt for cancer insurance as a supplement to your critical illness insurance plan.

Enquire more and contact us today!

Want to know more about AMTD PolicyPal Group insurance plans?

Compare Insurance Plans

Cannot find what you are looking for? Please reach out to us at Contact AMTD PolicyPal

Read More: 

How to Pick the Best Critical Illness Insurance Plan

MSIG Cancer Insurance: Who Will It Benefit?

FWD Cancer Insurance Review: High-Quality Cancer Coverage?

Great Eastern Cancer Insurance: How Does It Compare?

Protected up to specified limits by SDIC. This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation or endorsement by AMTD PolicyPal Group in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. You may wish to seek advice from a qualified adviser before buying the product. 

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Under AMTD Digital, AMTD PolicyPal Group consists of PolicyPal Pte. Ltd., Baoxianbaobao Pte. Ltd., PolicyPal Tech Pte. Ltd., and ValueChampion.