If one has cancer, what insurance policies will come into play or good to have?

Hello, there are standalone cancer and critical illness (CI) insurance plans to cover cancers from early to advanced stages. If you're diagnosed with a critical illness, like cancer, a CI insurance policy gives you a lump sum of money based on the amount you chose when buying the policy. Standalone cancer insurance provides a lump sum payout in the event of a cancer diagnosis. As it only covers cancer, this type of insurance is cheaper than a CI insurance policy. You can find a comparison table of some of these policies for CI insurance and standalone cancer insurance here.

Hi anon,

1. Your shield plan will kick in to cover hospitalization and treatment costs
2. CI payouts will provide you with liquid cash to address your loss of income when you cannot work, and handle any other out of pocket expenses.
3. Cancer only plans would also provide additional lump sum payouts.
4. There are plans that will cover cancer drug costs especially for non cancer drug list drugs.

Of course, all these plans have to be obtained when you are healthy.

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