Do you think Early Critical Illness plan is necessary? Or just a critical illness plan will do?

Studies have shown that 1 out of 3 is likely to be diagnosed with more than one Critical Illnesses in their life. Research conducted by the Life Insurance Association of Singapore has also shown Singaporean lack 80% Critical Illness protection needs. The Protection gap for an average Singapore is as much as $256,827.

Regular CI plans only provide payouts on illnesses diagnosed at late stages. Early-stage CI insurance covers the gap where you get diagnosed with a critical illness beyond the stage defined by a traditional CI plan.

Given the increased prevalence of CI, it is good to have yourself covered. However, these are some factors you should consider.

1) Family history with CI.

2) Number of dependents.

3) Budget considerations Do get in touch with us if you are interested to find out more.​​​

The ones who are diagnosed with Early Stage CI will tell you that it is necessary. Whether you want to absorb the risk is completely up to you.

I advocate ECI as I have experienced enough regrets of the people who don't. If it fits within their budget of insurance coverage, I will always recommend it.

You can check the guidelines for insurance budgeting here:

https://www.aaronleow.com/insurance-requirement...