MSIG Cancer Insurance: Who Will It Benefit?

MSIG Cancer Insurance: Who Will It Benefit?

MSIG's CancerCare provides basic cancer coverage for unbeatable prices for millenials. However, customers over age 50 may find that other plans are more suitable in price and coverage.

Good for

  • Customers looking for affordable top-up coverage
  • Generally healthy, young customers

Bad for

  • Older consumers looking for cheap cancer-only coverage
  • People looking for traditional critical illness plans

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
20% off CancerCare Plus Premiums + S$10 gift voucher

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

BenefitSum Insured
Basic Benefit: Major CancerS$100,000
Accelerated Benefit: Early Stage Cancer
  • Carcinoma In Situ
  • Early Prostate Cancer
  • Early Thyroid Cancer
  • Early Bladder Cancer
  • Early Chronic Lymphocytic Leukemia
  • Gastro-Intesetinal Stromal 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.

Contact Information
Emergency/Claims Contact+65 6827 7660
Customer Service Fax+65 6827 2708
SMS Enquiry9158 1660
Product EnquiryOnline Form
Customer Service4 Shenton Way #21‑01 SGX Centre 2, Singapore 068807
File a ClaimSubmit Online

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 & CoveragePremium MalePremium Female
25-Year OldS$53.50S$108.43
35-Year OldS$94.16S$282.48
45-Year OldS$325.28S$812.49
55-Year OldS$898.80S$1,409.29
Early Stage Payout
50% of sum assured
Major Cancer Payout
S$100,000 (minus any early stage payouts)
Anastassia Evlanova

Anastassia is a Senior Research Analyst at ValueChampion Singapore, focusing on insurance. She holds an International Business Management diploma and a B.A. in Economics from New York University. Her prior working experience includes work in the capital markets sector.

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