Planning for a critical illness is not just about healthcare, it is about protecting your income, savings, and long-term financial stability. This guide explains how to prepare financially so you can stay resilient even if your ability to work is affected. Key takeaways

• Critical illness creates both medical and income-related financial strain.
• Most Singaporeans face a significant protection gap in critical illness coverage.
• Hospitalisation plans cover treatment costs but not income replacement.
• Critical illness insurance provides lump-sum payouts for financial flexibility.
• Coverage should reflect income, liabilities, and dependents.

Understanding the financial impact of critical illness in Singapore Critical illnesses such as cancer remain a major concern in Singapore. One in four Singapore residents will develop cancer by age 75, highlighting how common the risk is. While early detection improves outcomes, it does not remove the financial impact. Certain cancers are more prevalent locally based on Singapore Cancer Society data from 2019 to 2023. Among men, prostate cancer is the most common,...