May 19, 2021

Things You Didn’t Know About Early Stage Critical Illness Insurance

Firstly, what is early stage critical illness insurance?

Health insurance services pay hospital bills and give compensation to the client when they fall ill so that they could get back up and continue their daily life. But what if there were health insurance plans covering critical life-threatening illness that is specialized for people fighting for their lives? This is what a critical illness insurance plan is for. And early stage critical illness insurance plans give payouts to people right after diagnosis in the early stage of their treatment. Early stage critical illness insurance plans are there to help people and their families out in the early stages of their treatment so that they would not have to struggle financially to cover their costs without an income. It is a boon to the present economy.

Features a buyer should know about to get the best early stage critical illness insurance:

  • These services are catered towards critical illness like heart attacks, cancer and strokes.
  • All these illnesses covered are the top kind of killer diseases in Singapore.
  • The customer could receive fast payback from some sites such that they receive money right after diagnosis to pay their hospital bills.
  • Applying for critical illness insurance helps save time when needed urgently with these features:
  1. Has a very simple underwriting process that is easy to understand and is short, making it easy to finish quickly.
  2. Can get all the requirements covered of the customer, with only five minutes of answering questions.
  3. Straightforward and fast application processes without beating around the bush.
  4. No stress and quick to finish without much to do or think about afterwards.
  • The buyer of the insurance plan could get money after just five minutes of answering questions, too, with no medical examination on some Singaporean websites.
  • It is especially essential for those with family members living with them or people dependent on them. This is so that they and their family won’t have to suffer financial losses or struggles. Their income can be compensated for, and their medical bills can be paid with it.
  • Medical consultation online is free for many people through an app. This comes with the insurance services of several reliable sites.
  • There’s affordable and flexible coverage that is ready to cater to the customer whenever they need it, including surgery and stroke with permanent damage to nerves.
  • The only thing to remember is that each critical illness requires a different set of conditions to work with.
  • Different illnesses are covered differently with pay-outs that could start at the early stage, right after diagnosis, middle stage, or whenever the illness reaches an advanced stage when treatment is necessary for the client to live.
  • There are customizable premiums so that the client can add requirements and pay a premium for it at only 0.35 dollars monthly.

A maid insurance guide:

  • In a maid insurance plan, the customer to pay for insurance for the health of their maid or any other domestic helpers. This is so that in case of the maid or domestic helper falls ill and is unable to work anymore. The buyer can get money returns to compensate for the lack of service and to get a replacement to fill in.
  • Getting the insurance plan for the maid is a great idea in the middle of the pandemic because it is common for maids to be taken ill, especially if they’re travelling to buy food or to and from their home to the employer’s home.
  • This type of insurance also covers theft. In case if the domestic helper has run away with an expensive item like a Rolex watch, expensive gadgets, a costly home speaker set up or any else, the insurance can cover it.
  • A medium tier insurance plan is recommended to those interested. It costs only 12.30 dollars per month, for 26-month plans totalling only 320 dollars over the course of 26 months. It offers returns of 30 dollars daily.
  • Basic insurance sometimes may not cover all the expenses necessary and may not have some features. To make sure that all the things are covered, the buyer has to see that all of these are available:
  1. Theft of employer’s items.
  2. Liability of the domestic helper.
  3. Expenditures of treatment for the patient.
  4. Compensation for replacement maid expenditures.
  5. Personal possessions of Domestic worker.
  6. Reparation expenses of the previous domestic helper.
  7. Reimbursement of Levy and Daily wages.
  • The Ministry Of Manpower, also known as MOM, has made it compulsory in Singapore to get at least basic health insurance covering these adequate expenses above for FDWs or Foreign Domestic Workers.
  • MOM also requires a 5,000 dollar security bond to be paid to them to issue a Work Permit for each FDW or Foreign Domestic Worker. This can be reduced or completely paid for by the customer by the insurance company, depending on the plan brought from them.
  • Essential plans help cover up for all essential things only for a minimal cost for those who want to get all requirements covered and good services for flexible prices. This plan has a 100% chance of getting refunded if it is cancelled within 30 days of application. One of the best benefits of this is that the 5,000 dollars bond that needs to be paid to MOM will be sent by the insurance company directly to MOM.
  • While it may not be compulsory, enhanced medical coverages could be requested. This covers medical treatment for minor illness and free online medical consultation as well. The health of one’s household could be very well ensured by this.
  • These are customizable and could get an add on or a few. The customer could get extra services added on if the already available contract doesn’t offer everything needed to fit everything required in case if a particular situation were to occur.
  • Accident coverage can be a part of the insurance plan. It offers lower hospital bills for the customer’s domestic helper and gives the medical coverage they might require.

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