Comments on Moneytalk: Definition of Critical Illness

Insurance is like any other investment - we need t...

2010-03-29T21:04:57.270+08:00

Insurance is like any other investment - we need to do our homework before we plunge ourselves into getting one. It's good that the author pointed out that we need to take a closer look at any critical illness riders embedded in our policy. We need to make sure that we are to read the fine print in the contract and we have to let our broker explain in detail what's in it for us. If his explanation does not satisfy our questions, we ask more questions. Doing due diligence at this early point will help save us a lot of headaches in the long run.

Notice that prostate cancer and breast cancer (the...

2010-03-19T08:38:25.253+08:00

Notice that prostate cancer and breast cancer (the two most common types) are not really included as a definition. Some policies in the UK will pay proportionate benefits for either of these two so so it's worth reading the sales literature carefully before you buy cover.

Hi, FYI TM Asia Life has that too. compare the p...

2010-03-17T01:00:21.124+08:00

Hi,

FYI TM Asia Life has that too. compare the premium that needs to be paid and usually TM would be price at a better rate for the same payout.

thank you
Suen

Hi Liang, Thanks for the information. From the po...

2010-03-16T21:07:41.720+08:00

Hi Liang,

Thanks for the information. From the point of the insurers, cancers that have not spread and are confined to their location are highly curable thus it is not deemed to be critical. But the point is that not all people who buy such critical illness covers are aware that the definition of critical illness may be rather strict and if an illness does not meet the definition, it may result in non-payment.

Kay

Hi kay, Cancer that had not spread usually is non...

2010-03-15T23:30:56.884+08:00

Hi kay,

Cancer that had not spread usually is non-malignant or non-invasive. thus under normal critical illiness policy is considered not a covered event. If ppl are looking for policy that cover early stages of cancer, i think Great Eastern have a policy that covers early stage of cancer treatment.

Liang