Insuring Yourself

Recent events put a spotlight on this important life investment.

By Kelvin Low      12 June 2020

Important: Critical Illness Insurance

This insurance can pay for costs of critical illness not covered by traditional medical insurance. It pays out a lump sum if you are diagnosed with one of the critical illnesses in the policy.

Major cancers, heart attacks and strokes are just some of the illnesses that this insurance covers. Adequate critical illness insurance ensures that finances wouldn’t be a major limiting factor for your treatment or recuperation options.

Do pay attention to coverage as different companies divide the coverage of their listed critical illnesses into early, intermediate and critical stages. As a perk, many insurers are offering a rebate of the total premiums paid, back to policyholders at the end of their policy term if no claims were made.

Beneficial: Personal Accident Insurance

The more relevant insurance of this moment, is Personal Accident (PA). A PA insurance complements your health insurance, chiefly because it covers outpatient treatments, has supplementary income benefits and infectious disease coverage.

Many people have the misconception that PA and Critical Illness insurance are the same. You can develop cancer, but you can’t develop COVID-19 or dengue fever – hence the need for “accident” coverage for yourself. Another example covered by PA insurance is food poisoning.

On top of those, some PA policies include weekly income benefit to make up for the lost income due to inability to work due to accidents, as well as child support benefits.


SAFRA Tampines Upgrades

Fresh from an improvement, this clubhouse celebrates the new milestone with much fanfare.

Never The Twain Shall Meet?

As two disparate food cultures, Spanish tapas and Asian hotpot could not be more different. Or are they?

Master Commander

Ruminations of National Service and fatherhood.