What does cancer insurance cover?

Is it possible to get a 100% payout for all stages of cancer? What’s the difference between cancer insurance, health insurance, and critical illness insurance? We unpack your biggest questions here.

In Singapore, one in four people may develop cancer in their lifetime — so it’s natural to want to get insured against the illness, given it could happen to anyone. But what does cancer insurance actually cover, and how different is it from having a health insurance plan? We take a closer look.

Cancer insurance vs health insurance vs critical illness insurance

Having a health insurance plan could help to offset some of the medical costs associated with cancer treatment, but being diagnosed with cancer could severely impact your everyday life.

Beyond a potential loss of steady income, financial commitments such as housing loans and household expenses must be taken into account. This isn’t helped by the fact that healthcare costs in Singapore will continue to rise annually.

Meanwhile, most critical illness insurance plans cover for 37 severe stage critical illnesses including cancer. But here’s the catch: they don’t cover for early stages of cancer. That’s where a cancer insurance plan aims to fill the gaps. Here are three key areas it covers, including a programme that’s unique to the FWD Cancer insurance plan.

Full payout for all cancer stages

Treating cancer in Singapore is often expensive. Depending on the severity of the condition, the sufferer may have to undergo a biopsy, surgery, and the actual cancer treatment — the latter of which includes chemotherapy, radiation therapy, and immunotherapy.

Note: Averages only, based on the 5 most common types of cancers. Source: ValueChampion

While these fees may look daunting, getting coverage through a plan like FWD Cancer insurance could offer you and your loved ones greater financial flexibility: It includes full payout for all stages of cancer. This payout will be equivalent to the coverage amount you have selected. And in the event of death from cancer, a benefit of S$5,000 will be paid out to your beneficiary(ies), so long as the policy is still active.

Hassle-free, online purchase

The process of buying insurance can seem tedious when you’re reminded of filling up forms, meeting agents and navigating through after-sales services. However, getting the protection you need is now at your fingertips with hassle-free, online purchasing.

As the quote goes, time is money and buying insurance online can be done on the go. In the case of FWD Cancer insurance, it gets even simpler – age, gender, smoking status and coverage amount is all you need to get a quote in seconds. On top of that, no medical examinations are required for you to purchase a plan, and all it takes is one simple health declaration to get issued a policy instantly.

The FWD Care Recovery Plan

For FWD Cancer insurance policies purchased between 1 July 2021 and 30 June 2022, policyholders can also receive additional support from the FWD Care Recovery Plan¹. A complimentary support programme that goes beyond simply making monetary reimbursements, this six-month plan will be made available to you depending on whether your claim is eligible, and includes access to a recovery nurse and support services — capped at a total of S$1,300. These support services include:

• Home assistance, such as home-cleaning and home modifications to ensure your home is optimised for your recovery
• Counselling
• Home nursing care assistance
• Local transportation to medical appointments
• Physiotherapy
• Dietician consultation

Now that you’ve a better understanding of what cancer insurance covers, find out more about how FWD Cancer insurance could help you, and get a quote in seconds.