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Why do you need critical illness insurance in
Singapore in your 20s?
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At the age of 20, when an individual is at the
peak of their health, there seems to be hardly
any need for critical illness insurance .
However, in reality, having a critical illness
insurance plan is a smart choice that one can
make. Critical illness can strike anyone at any
age. At the age of 20 when life is filled with
aspiration and dreams, stumbling upon a critical
illness can throw your entire life off the track.
Having a critical illness insurance plan provides
a peace of mind knowing that financial burden
can be minimized in times of medical emergencies.
Therefore, it is never too early to get yourself
covered. Towards better financial
planning Reports have shown that an average
Singaporean lives a longer life but the majority
of the time is spent in ill health as compared
with about 30 years ago. Another report from The
Straits Times highlighted the increase in the
number of cancer patients in Singapore every
year. These reports not only highlighted the
rising health concerns in Singapore but also
emphasized the need to make better financial
plans so that health-related challenges can be
handled better. Getting a critical illness plan
in your 20s is a step towards better financial
planning ensuring optimum financial security.
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Critical illness insurance plans in the 20s are
cheaper Premiums for critical illness plans are
comparatively cheaper for a young person. An
individual getting a critical illness insurance
plan in their 20s can enjoy cheaper premiums
because these premiums are covered under the
low-risk insurance category. With growing age,
chances of encountering a critical illness become
higher, hence increasing the premium amount. A
proactive approach Buying critical illness
insurance in your 20s can be a proactive step
toward financial security. Most critical illness
insurance coverage can be up to 99 years of age.
This indicates the fact that getting coverage at
the age of 20 came to be beneficial in the long
haul. In general, the chances of you having
existing medical conditions at a young age is low
hence getting a critical illness insurance plan
when you are in pink of health provides a more
comprehensive coverage.
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Critical illness insurance and its coverage Most
of the critical insurance plan covers 37 critical
illnesses as defined by the Life Insurance
Association of Singapore. These 37 critical
illnesses, including major cancers, heart
attacks, kidney failure, stroke, terminal
illnesses, and other life-threatening health
issues, can create major challenges in the normal
functioning of life. In most cases, it is the
financial burden of treatment that adds up to the
trauma. With a critical illness insurance plan,
financial security can be obtained while an
individual heads towards gradual recovery. It is
important to understand that none of the critical
illnesses being mentioned above is age-specific.
So planning to get insurance early is always a
wise decision. Starting early with critical
illness insurance can bring huge benefits.
Critical illness treatment is expensive and may
cause you to compromise on your other life plans.
Having a critical illness plan early will get
life going without worrying about the financial
burdens in the event of an unfortunate diagnosis
of critical illness.
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Thank You Original Source

• Why do you need critical illness insurance in
  Singapore in your 20s?