Insurance
Do You Really Need Early Critical Illness Coverage?
By Sethisfy  •  January 26, 2021
I remember being a much younger person when early critical illness (CI) coverage was first introduced circa the late 2000’s. The first few companies to offer early CI coverage took out front-page ads and large murals outside train stations touting their new, revolutionary must-have protection plans. More vividly, I remember a woman giving her testimony why early CI coverage was so important: she had three critical illness plans but had no coverage when she was diagnosed with breast cancer. The pain of the illness and treatment was so unbearable she was unable to get out of bed, much less work, and the loss of income was financially taxing, but her traditional CI policies wouldn’t pay out. The answer, seemingly, was early CI. Actually, the answer is Disability Income Can the payout from early critical illness help towards a loss of income due to an early stage CI? Sure, but...
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By Sethisfy
As an adult, I’ve been through many ups and downs in my career path and personal finance journey, not unlike many Singaporeans. From my years as a tied insurance agent turned independent financial adviser, I realised that there are very few sources of proper, unbiased financial advice for working adults to access. Worse, self-styled “financial consultants” are selling products like savings plans and ILPs to the detriment of the clients whose interests they were supposed to serve.
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