Do You Need Breast Cancer Insurance?

 

Breast cancer is the most common form of cancer to affect women in Singapore. With this in mind, insurers now offer breast cancer insurance plans for women in the country. These plans are affordable and can easily be purchased through the insurer’s health and wellness app or website.

A breast cancer insurance plan will usually cover you against all stages of breast cancer. Under this form of coverage, the policyholder gets a lump sum payout if they are diagnosed with any of the stages of breast cancer. That payout can be used for any financial obligations you face.

 Do I need breast cancer insurance?

Given the high statistics of breast cancer occurrences in Singapore, you might want to consider staying protected with insurance. You would benefit greatly from having this coverage to back you up financially if you develop this type of cancer.

Remember that being diagnosed with cancer takes a toll on many aspects of your life. You might not be able to go to work for a few months or even years while you get treated and recuperate. Your spouse may become the sole breadwinner and this can lead to a strain on the household finances. The payout from breast cancer insurance can help you manage any financial obligations that go beyond what you can afford on the household’s monthly income. You may also use the funds to pay for other expenses such as transport costs of going to the hospital regularly for chemotherapy.

Getting breast cancer insurance is easy as insurers generally do not require you to undergo any kind of medical check-up before getting covered. You might simply have to download the insurance company’s health app, answer the health declaration form, and pay for your coverage. The premiums are quite affordable too – these can often be as little as S$9 for 12 months of coverage.

 Remember to also keep your Integrated Shield Plan active

The coverage offered by an Integrated Shield Plan will help you afford the best in medical care without having to worry about the costs. Remember that your MediShield Life has limitations to its coverage. For instance, the monthly limit for chemotherapy under MediShield Life is set at S$3000. If your chemotherapy costs more than that, the expenses will have to come out of your own pocket.

Plus, MediShield Life coverage is pegged at class C and B2 wards of public hospitals in the country. Having an Integrated Shield Plan will ensure that you get access to a better selection of private, restructured and public hospitals. Leading insurers in Singapore also offer cover limits that go as high as S$1 million in their Integrated Shield Plans. Having the proper hospitalisation coverage offered by an Integrated Shield Plan and the lump sum payout from breast cancer insurance will ensure that you are financially secured if diagnosed with this form of cancer.

We hope that this article has improved your understanding of breast cancer insurance in Singapore. Do speak with a financial consultant today for help in getting the coverage you require.