Unless you’re a medical practitioner or a healthcare worker, you’re unlikely to have studied the definitions of critical illnesses in your insurance policy. These definitions play an important role in determining whether you are eligible to claim from your policy in the event you are diagnosed with an illness so it is worth some of […]
If you have not heard, all insurers would have to adopt the new 2019 Critical Illness (CI) definitions set out by the Life Insurance Association Singapore (LIA) from 26 August 2020. The new 2019 definitions are meant to reduce ambiguity over what can or cannot be claimed. To learn more, click here for the summary […]
As life expectancy increases, the number of years that people live with a chronic disease is expected to rise. While Singaporeans live up to the age of 82 on average, they are also likely to experience about eight years of ill health in old age. In Singapore, more people are having the “3 highs”; high […]
Critical Illness (CI) policiesprovide insurance against the diagnosis of the severe stage of medical conditions, using well-defined wordings. However, before 2003 it was up to individual insurers to define the CIs covered. The language used was relatively difficult to understand and potentially created uncertainty in the minds of consumers. 2003 CIs Definition Standardisation Addressing this […]
