Prostate cancer is common form of cancer that affects men. In fact, studies show that it is the 3rd most common form of the disease affecting Singaporean men. It is, thus, important to stay covered against this form of cancer. Prostate cancer insurance can help supplement the coverage you have from MediShield Life or your Integrated Shield Plan by giving you a bit of extra cushioning in terms of medical insurance. Interested to know more? Read on to discover 4 important facts about prostate cancer insurance.
- It pays a lump sum upon diagnosis
Prostate cancer insurance such as PRUSafe ProstateCancer for example, will pay you a lump sum if you are diagnosed with any stage of the disease. You can expect a payout of around S$10,000 (this may vary insurer to insurer). This payout can be used to pay for any expenses that arise during your illness. For instance, you can use part of the payout on co-payment in health insurance.
- It is available as an affordable microinsurance product
Prostate cancer insurance plans are generally sold as microinsurance products intended to supplement the coverage you already have from medical or life insurance. Being a microinsurance product, prostate cancer insurance is quite affordable. A plan for a male non-smoker who is aged 20 to 25 years (ANB) will generally cost around S$5 for coverage that spans 12 months. Now, that is a great deal indeed!
- No medical checks are required to buy coverage
Buying a prostate cancer insurance plan is super simple and requires no medical checks. Insurance providers are known to offer this product on a health app. You simply need to download the app, answer a quick health declaration, and sign up.
- A waiting period and survival period will be applicable
You should be aware that there is a waiting period and a survival period on your coverage. The waiting period is generally a period of 90 days from the date the coverage begins. The survival period is generally kept at 7 days starting from the day the prostate cancer has been diagnosed. The insured individual needs to make it through the survival period in order to be able to raise a claim.
If you are looking for more coverage…
In case you want coverage against other forms of cancer too, you might want to consider buying cancer insurance. A cancer insurance plan offers coverage for all stages of cancer with a 100% payout given. With this form of insurance, you can stay protected up to the age of 100 years against several types of cancer. That kind of protection can really help you breathe easy and allow you to focus on your life goals knowing that you have the backing of your insurance plan if things go awry. You can easily get an instant quote online now for cancer insurance.
Go ahead to speak to your insurer about prostate cancer insurance or even cancer insurance today for coverage that gives peace of mind. Hope this has been an insightful read. Take care.