SG’s Income Insurance, Swiss Re reveal first post-cancer term option
The coverage is available to patients aged 74 to 54 years old.
Swiss Re has partnered with Singapore’s Income Insurance to introduce its first cancer insurance product known as Complete Cancer Care.
The new service offers financial aid with a guaranteed post-cancer term option and comprehensive support throughout the journey from diagnosis to recovery.
It comes with monthly payouts and a premium waiver benefit, in addition to the more traditional offerings that primarily involve lump sum payments upon diagnosis.
Monthly payouts are available in 12 months and 24 months. Patients can choose from Care 50 with 0.5% of sum assured or Care 100 with 1% of the sum assured.
It also incorporates a hospice care benefit designed to assist patients during palliative care.
To address Singapore's ageing population, the product's entry age is the highest in the market, allowing individuals to enter and utilise the coverage between 74 years old and 84 years old.