Income Complete Cancer Care 50/100

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Income Complete Cancer Care 50/100

3.0

/5

Type

Cancer-only critical illness plan

Covers

Early, intermediate, late-stage cancer

Optional add-on Riders

N.A

Available Policy Term

10-year renewable term

Overview

Competitively priced cancer-only plan
Has a lenient ‘cancer-only’ health underwriting
Comprehensive coverage providing financial support from early to terminal stage cancer

For Whom

Suitable For

Individuals with pre-existing conditions (except cancer), people with a family history of cancer who want to supplement their existing critical illness coverage and healthy individuals

Not Suitable For

Retirees

For What Purpose?

Income replacement for dependants or self in case of:

Provide income replacement to cover living expenses during treatment and recovery

There are two options for the plan:

Care 50:
Pays a lump sum amount of 50% of the sum assured (min. $50,000 to max. $250,000) for early/intermediate cancer and 100% of the sum assured for late-stage cancer, less any amount paid out for early/intermediate-stage cancer
Care 100:
Pays 100% of the sum assured upon diagnosis of early, intermediate or late-stage cancer. ‘Monthly Cancer Therapy Benefit’ will also provide a monthly cash benefit of 0.5% (Care 50) or 1% (Care 100) of the sum assured for up to 24 months.

What are the Pros & Cons?

Pros

‘Guaranteed Post-Cancer Cover’ option allows the insured to purchase a new term policy, without any health underwriting upon diagnosis of a late-stage cancer

Premium waiver benefit of the plan covers insurance costs during work downtime while ensuring continuous coverage

‘Cancer-only’ underwriting allows individuals, who would otherwise be uninsurable, to obtain insurance as it has more lenient underwriting requirements than standard full health underwriting processes

Cons

Premium for the plan will increase upon renewal at the end of each 10-year term

What's the Cost?

For the ‘Care 50’ plan with $100,000 basic sum assured

Premiums for Income Complete Cancer Care 50

Age	Annual Premium (Male)	Annual Premium (Female)
30	$183	$393
40	$317	$728
50	$772	$1238

Pays $50,000 upon diagnosis of early/intermediate cancer, $100,000 for late-stage cancer,
$500/month (up to 24 months) for ‘Monthly Cancer Therapy Benefit’

Things to Note

It is advisable to use this plan as a supplementary option rather than as your main coverage for critical illness. We suggest having a critical illness plan that covers all 37 standard critical illnesses. This will provide you with protection against a wider range of severe health conditions, not just cancer.
You can buy and manage online (with Income), without an adviser or agent.

Written by: Anton Tan, CFP®

Last updated: 7 November, 2024

Disclaimer: This publication has not been reviewed by the Monetary Authority of Singapore. The information contained herein does not have any regard to the specific investment objective(s), financial situation or particular needs of any individual. Buying insurance is a long-term commitment and should be based on your unique needs and the suitability of the products. It is advisable to seek advice from a financial adviser to assess your needs and guide you on the features and details of the products before making any financial decisions. The coverage, benefits, premiums, and terms of insurance policies may vary depending on individual circumstances and insurance providers. Individuals are encouraged to review their own insurance needs and policies and seek advice tailored to their specific situation. While every reasonable care is taken to ensure the accuracy of the information provided, no responsibility can be accepted for any loss or inconvenience caused by any error or omission.

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