MSIG's CancerCare Plus insurance is a critical illness plan that offers exclusively cancer coverage. It can be a suitable choice for customers who have substantial health and life insurance but want a bit of a protection boost for cheap. On the other hand, it is costly for older customers compared to its competitors and the smaller coverage may not appeal to people looking for high coverage critical illness plans.
Table of Contents
|Summary of MSIG CancerCare Plus|
|Average cancer coverage|
|Can purchase policy online|
|Early cancer coverage is 50% of total sum assured|
Highlights of MSIG CancerCare Plus: What You Should Know
MSIG's CancerCare Plus is a competitively priced cancer insurance plan that can appeal to younger demographics looking for affordable cancer coverage. It provides S$100,000 of coverage if you get diagnosed with a major cancer along with a 50% early cancer accelerator benefit. If you get diagnosed with early stage cancer, you will receive S$50,000 and upon diagnosis of a major cancer later on in life, you will get the remaining S$50,000. You can buy this plan if you are between the ages of 20 and 64 and it will automatically renew until you turn 84.
One of the major benefits of this plan is the pricing. It costs 47-64% less than its closest competitor, FWD, for customers between the ages of 25-45. However, while CancerCare Plus may be suitable for people who already have plenty of health and life insurance coverage and are looking for something simple to cover any gaps, it may not benefit people looking for substantial coverage. This includes people looking for comprehensive critical illness plans or cancer plans with more than S$100,000 of coverage. Furthermore, we recommend opting for FWD's cancer insurance (the most similar alternative) if you are between the ages of 50-64 due to MSIG's higher premiums. We also recommend FWD as an alternative if you have 2 or more family members diagnosed with cancer, as you won't be able to receive coverage under MSIG's plan.
Summary of Benefits
|Basic Benefit: Major Cancer||S$100,000|
|Accelerated Benefit: Early Stage Cancer
||50% of Sum Insured|
Policy Exclusions & Eligibility
To qualify for MSIG's CancerCare Plus plan, you need to be between the ages of 20 and 64, have not received or been advised to seek treatment for cancer, leukaemia, tumour, lumps or growths, are not awaiting the investigations of any medical tests, investigations or scans and do not have 2 or more immediate family members who have been diagnosed with cancer.
Policy exclusions include pre-existing conditions, having symptoms or signs of cancer within the first 90 days of your policy. You will also not be covered if you fail to seek or follow medical advice.
Contact Information & Claims
To file a claim, you must do so at the occurrence of the incident. You can submit a claim online under the "health" claim category. Please make sure you have all of the necessary documentation attached to avoid delays in your claim payout.
MSIG Cancer Insurance Cost & Features
If you are concerned about your finances if you get diagnosed with cancer, then a cancer insurance can be a good option to consider. It's low cost and tailored benefits can be a good fit for people who don't need comprehensive critical illness coverage. However, while it may be a good fit for some, it won't be a good fit for other people. To see how MSIG's CancerCare Plus compares to other plans on the market, check out our guide to the best critical illness policies in Singapore.
|Premiums & Coverage||Premium Male||Premium Female|
|Early Stage Payout|
|Major Cancer Payout|
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Protected up to specified limits by SDIC. This is only product information provided. You may wish to seek advice from a qualified adviser before buying the product. If you choose not to seek advice from a qualified adviser, you should consider whether the product is suitable for you. Buying an insurance product that is not suitable for you may impact your ability to finance your future financial needs. If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and the insurer may recover from you any expense incurred by the insurer in underwriting the policy.