Cancer treatment costs in Singapore: Is critical illness coverage enough?

Cancer is the leading cause of death in Singapore, with one in five Singaporeans likely to contract some form of it in their lifetime. That’s an average of 35 people diagnosed every day. While these statistics may be startling, there are ways to safeguard yourself from the illness — and ensure you are financially protected in the face of adversity.

Top causes of cancer in Singapore

Known causes of cancer include smoking, excessive exposure to UV rays from the sun, accumulated radiation exposure from X-rays or CT scans, and one’s genetic makeup.

Figures from the Ministry of Health between 2016 and 2018 show that cancer caused an average of 29.4% of deaths in Singapore. According to the Singapore Cancer Society, these are the ten most common forms of cancer in men and women:

Source: Singapore Cancer Society

Treatment costs

The estimated costs of cancer treatment are high, as this breakdown shows.

Source: Seedly (adapted) Do note that the above numbers are based on the average amount of subsidies that Singapore Cancer Society provides to needy cancer patients. it is not meant to be an exhaustive or definitive list of examples.

Do all Critical Illness Plans cover Early Stage Cancer?

There are many types of critical illnesses, such as cancer, heart disease, stroke, kidney failure and more.

Did you know:

• Different insurance plans cover different types of critical illnesses.
• In the event of a critical illness, some insurers pay out the claim in one lump sum while others pay out in partial payments, depending on the severity of one’s condition.
• Not all critical illness plans cover early stages of cancer.

Early detection of cancer and proper treatment early on can greatly increase the chances of survival. This is where early insurance payout helps. If you have a critical illness plan, do check the terms to see if early stage cancer is covered and how much it covers.

Can I Claim From Multiple Insurers?

Cancer insurance is a benefit policy, this means that the claims payout is made when a certain covered event occurs, regardless of whether the patient is making a claim from another insurer or not. The table below shows the key differences between FWD’s Cancer insurance and what some other critical illness plans may offer:

¹ ² Are You Prepared to Beat Cancer When It Strikes?

What If Critical Illness Covers Are Too Expensive for Me?

Critical illness plans cover an extensive list of illnesses, and premiums can go up to thousands depending on your preferred coverage. In addition, to cover early stage critical illnesses, one may have to pay an additional premium to enjoy this cover. If affordability is an issue, standalone plans such as Cancer insurance can provide protection for specific critical illnesses without breaking the bank.

According to the Ministry of Health, Singapore, cancer is the number one cause of death every year from 2016 to 2018, accounting for nearly 30% of deaths. A typical cancer insurance cover costs just an estimated 20% of most critical illness plans, providing a much more affordable option for those looking to get covered for this condition.

Safeguarding yourself

While cancer is caused by a combination of factors, eating right and getting adequate exercise are some easy ways to ensure your physical and mental health remain at optimum levels.

Make it a point to clock at least 150 minutes of physical activity weekly, whether it be doing household chores, brisk-walking or taking the stairs more regularly. The Health Promotion Board also recommends getting 7 to 9 hours of sleep daily, although this varies by age.

Consider protecting yourself further with FWD Cancer insurance, which could help safeguard you for all types and stages of cancer, even for early stages — in addition to any existing critical illness plan you may have. Ultimately, safeguarding your health early will benefit you in the long run.