There are now a flood of many early-stage critical illness plans in the recent 2–3 years. This plan is considered part of the suite of health insurance. But what is the priority shall we give to it compared to the hospitalisation and surgical plan? And also to the traditional critical illness plan that pays upon more advanced stage of the critical illness?
Being a layman and not a professional doctor, we may not be able to fully understand the definition of the early-stage, intermediate-stage and the advanced-stage critical illness. However, the probability of claim experience and the limit it imposes may shed some light.
First thing first, the most important insurance plan for anyone to get is the hospital and surgical plan. This plan reimburses the medical expenses that you incur in the hospital, regardless of the seriousness of the illness. You can be warded for observation, dengue fever, accident etc. Hence, the coverage is very wide. The premium is also affordable with the main plan payable using CPF Medisave. It is best to get the Private Integrated Shield Plan that offers the “As Charged” feature. As there is the deductible and co-insurance, you can buy the rider to cover these gaps using cash. It is good to get this even for young baby or even if you have company insurance. This is the health insurance that requires very stringent underwriting. You need good health to be covered completely without exclusion.