<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="If you’re a Singaporean, statistically, cancer is the most worrying cause of death. And although medical technology has greatly increased our chances of surviving cancer, the impact on our finances can be dire.&nbsp;” data-reactid=”19″>If you’re a Singaporean, statistically, cancer is the most worrying cause of death. And although medical technology has greatly increased our chances of surviving cancer, the impact on our finances can be dire. 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="As we explained in why you should seriously consider getting cancer insurance, the average Singaporean has a critical illness protection gap of over $250,000.” data-reactid=”21″>As we explained in why you should seriously consider getting cancer insurance, the average Singaporean has a critical illness protection gap of over $250,000.

But since critical illness insurance can be prohibitively expensive, cancer insurance is a way to get protection against the highest-probability critical illness at a relatively low price. Getting it is almost a no-brainer—especially if you have a history of cancer in your family.

But there are several cancer insurance plans you can choose from. And not all of them will be the ideal fit to your individual circumstances. So, to help you make the optimal choice for yourself—and to save even more money on top of that—here are the best cancer insurance (along with promotions and discounts) out there today.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="(P.S. If you’re still confused about what it entails, be sure to read about the five critical things to know about cancer insurance.)” data-reactid=”24″>(P.S. If you’re still confused about what it entails, be sure to read about the five critical things to know about cancer insurance.)

Cancer Insurance Plan Highlights Promotion (from 1—30 June 2020)
FWD Cancer Insurance – 100% payout even for early stage diagnosis
– Obtain a free medical second opinion via Mediguide
– Additional death benefit payout 
Get $5 reward via PayNow if you apply now

Use promo code CAN25 and get 25% off premiums

MSIG CancerCare Plus Highest coverage to premiums ratio  Get $15 reward via PayNow if you apply now

Enjoy 20% off premiums when you purchase now 

TIQ Cancer Insurance – 6% savings on yearly policy renewal if no claim made in previous year
– 100% payout even for early stage diagnosis
– Additional death benefit payout
Get $5 reward via PayNow if you apply now

Use promo code TEIF on Fridays to get 20% off premiums 

Great Eastern GREAT Cancer Guard – 100% payout even for early stage diagnosis
– Premium does not increase with age
Enjoy 15% off your first-year premium
AXA Cancer ReCover – Most flexible sum assured amounts
– Highest death benefitYou can be covered even if you have a history of cancer
– 24-month premium waiver upon early or intermediate stage diagnosis
More promos to come!

What sets FWD’s cancer insurance plan apart from the rest is its free medical second opinion. Policyholders are entitled to obtain a second opinion from Mediguide, where a team of expert physicians will review your medical records. Considering the gravity of a cancer diagnosis, this can offer huge peace of mind.

That aside, the nuts and bolts of FWD’s cancer insurance plan stand up well against the market. Basic coverage starts as low as $50,000 but goes all the way up to S$200,000—the upper limit of the market. Furthermore, it pays out a full 100% of the sum assured even for early stage diagnoses. There’s also a smaller and separate death benefit.

Its premiums are priced slightly above the market average, but if that is not a big issue for you, this is a great ‘all-rounder’ plan that has one of the best benefits on the market.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SingSaver exclusive: Apply from 1 to 30 June 2020 and use promo code CAN25 to get 25% off premiums. On top of that, you will also receive a $5 reward via PayNow.” data-reactid=”31″>SingSaver exclusive: Apply from 1 to 30 June 2020 and use promo code CAN25 to get 25% off premiums. On top of that, you will also receive a $5 reward via PayNow.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apply Now – FWD Cancer Insurance” data-reactid=”32″>Apply Now – FWD Cancer Insurance

MSIG’s cancer insurance plan is a little more rigid than others. The sum assured is fixed at $100,000, with no flexibility given. On the surface, that can seem to be a drawback, and we’re not denying that—all things being equal—most people would prefer to have that flexibility.

But all things are not equal, because MSIG CancerCare Plus may be one of the best value for money plans on the market. For the same premiums you would pay for a plan that gives you $50,000 of coverage, you get the full $100,000.

That said, the plan does have a couple of other drawbacks to note. For one, early stage diagnoses are only eligible for 50% of the sum assured (the remaining 50% can be used for any non-early stage diagnoses down the line). There is also no additional death benefit. However, if this is not a major concern and you just want to maximise value in your cancer insurance plan, look no further.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SingSaver exclusive: Apply from 1 to 30 June 2020 and get 20% off premiums plus a $15 reward via PayNow.” data-reactid=”37″>SingSaver exclusive: Apply from 1 to 30 June 2020 and get 20% off premiums plus a $15 reward via PayNow.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apply Now – MSIG CancerCare Plus” data-reactid=”38″>Apply Now – MSIG CancerCare Plus

To be honest, TiQ’s cancer insurance plan is very similar to FWD’s. They are both solid ‘all-rounder’ plans which pay the full 100% sum assured regardless of the diagnosis stage. They also have the same smaller lump sum death benefit, and their coverage sums also range from $50,000 to $200,000. Premium-wise, they are also within a few dollars of each other. You really can’t go wrong with either option.

The salient differences really only come down to two main points. FWD has the unique benefit of getting a free medical second opinion from a team of expert physicians. Whereas for TiQ, you can enjoy 6% off your annual premiums so long as you haven’t made any claim. This is essentially the ‘No Claim Discount’ model you see with motor insurance.

If you are looking for a good ‘all-rounder’ cancer insurance plan, either TiQ or FWD will serve your needs. It just depends on what you value more—a second medical opinion or a 6% annual discount.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SingSaver exclusive: Apply from 1—30 June 2020 and get 20% off premiums when you use the promo code TEIF on Friday. Plus, enjoy a S$5 reward via PayNow.” data-reactid=”47″>SingSaver exclusive: Apply from 1—30 June 2020 and get 20% off premiums when you use the promo code TEIF on Friday. Plus, enjoy a S$5 reward via PayNow.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apply Now – TiQ Cancer Insurance” data-reactid=”48″>Apply Now – TiQ Cancer Insurance

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Great Eastern GREAT Cancer Guard: Most convenient plan” data-reactid=”49″>Great Eastern GREAT Cancer Guard: Most convenient plan

Great Eastern’s GREAT Cancer Guard plan is designed to give you the maximum convenience and consistency possible. For one, the premiums don’t increase with age—this consistency gives you the ability to plan your finances with much more clarity. Second, there’s no medical examination required, just a simple health declaration with a guaranteed renewal until age 85.

Its sum assured starts at $100,000 and goes up to $200,000—it’s rather standard. It pays out 100% of the amount regardless of the diagnosis stage, although it doesn’t include a death benefit.

That said, its premiums are definitely on the higher end of the market—a necessary trade-off for maintaining it for the entire term of the plan. However, if you don’t mind bearing higher premiums (and the absence of a death benefit) in exchange for this convenience and consistency, then this is one plan worth looking into.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Current promotion: Get 15% off your first-year premiums when you apply before 30 June 2020.” data-reactid=”53″>Current promotion: Get 15% off your first-year premiums when you apply before 30 June 2020.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apply Now – GREAT Cancer Guard” data-reactid=”54″>Apply Now – GREAT Cancer Guard

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="AXA Cancer ReCover” data-reactid=”55″>AXA Cancer ReCover

AXA’s Cancer ReCover has one of the widest ranges of sum assured amounts of the market, from as low as S$25,000 to as high as S$250,000. Further, its death benefit pay-out is based on 15% of the sum assured—rather than a low fixed sum—which means that, unless you choose the lowest sum assured option, the death benefit will also be one of the highest on the market.

Further, even if you are a cancer survivor—which we know carries a significant risk of recurrence—you can still be covered under this plan. The only condition is that your previous cancer cannot be past Stage 3 or be brain cancer. It also must have had been in remission for at least three years.

Another interesting benefit is its free child cover. If any of your children are diagnosed with advanced stage cancer, they are entitled to a pay-out of 15% of the sum assured. This applies even if you didn’t have any children at the point when you purchased the policy.

That said, this policy does have one main drawback—it only pays out 15% of the sum assured for early and intermediate stage cancers. This is probably the lowest ratio on the market. They do try to offset this by waiving your premiums for 24 months if you make a claim for early or intermediate stage cancers. However, given the comparatively low cost of cancer insurance compared to the pay-out, this is scant compensation.

All in, it depends on your priorities. If you want the full pay-out for even early stage diagnoses—this is not for you. But if that is not your main concern, then this might be one of the most attractive options out there.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apply Now – AXA Cancer ReCover” data-reactid=”61″>Apply Now – AXA Cancer ReCover

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Helping you make the best choice for your protection” data-reactid=”62″>Helping you make the best choice for your protection

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Cancer is unpleasant to read, hear, or even think about. But we cannot ignore reality, which is why it’s important to stay protected. SingSaver is here to help you make the best choices when it comes to your protection. Click here to compare all our cancer insurance plans at a single glance.” data-reactid=”63″>Cancer is unpleasant to read, hear, or even think about. But we cannot ignore reality, which is why it’s important to stay protected. SingSaver is here to help you make the best choices when it comes to your protection. Click here to compare all our cancer insurance plans at a single glance.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Read these next:
Here’s Why You Should Seriously Consider Getting Cancer Insurance
Breast Cancer In Singapore: A Guide On Treatment Costs And Insurance Plans
5 Critical Things You Need to Know About Cancer Insurance
4 Must-Have Insurance In Your 20s
Best Women’s Credit Cards In Singapore 2020

” data-reactid=”64″>Read these next:
Here’s Why You Should Seriously Consider Getting Cancer Insurance
Breast Cancer In Singapore: A Guide On Treatment Costs And Insurance Plans
5 Critical Things You Need to Know About Cancer Insurance
4 Must-Have Insurance In Your 20s
Best Women’s Credit Cards In Singapore 2020

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="By Ian Lee
Ian is a former investment banker turned freelance financial and investment writer. He specialises in creating versatile finance content for the attention economy on topics ranging from personal finance and investing to fintech and cryptocurrencies.
” data-reactid=”72″>By Ian Lee
Ian is a former investment banker turned freelance financial and investment writer. He specialises in creating versatile finance content for the attention economy on topics ranging from personal finance and investing to fintech and cryptocurrencies.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The post Best Cancer Insurance Plans in Singapore (2020) appeared first on SingSaver Blog – We Compare, You Save.” data-reactid=”73″>The post Best Cancer Insurance Plans in Singapore (2020) appeared first on SingSaver Blog – We Compare, You Save.