Richmond Tung

This series will talk about the pros & cons of a stand-alone critical illness plan, those that are available in Singapore.

Company: Prudential

Overview: PRUmultiple crisis cover provides up to THREE critical illness claims, inclusive of 2 cancer claims.

Unique Feature:

1) Up to THREE critical illness claims, inclusive of TWO cancer claims

2) Waiver of all future premiums upon the first critical illness claim and upon total and permanent disability (excludes Angioplasty and Other Invasive Treatment for Coronary Artery claims)

3) Additional one-time claim benefit for Angioplasty and Other Invasive Treatment for Coronary Artery

4) Flexible policy term of 20-98 years, up to age 99

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Commentary:

This plan, similar to the one by Great Eastern, tries to tackle the growing problem of having insufficient cover for early stages of a critical illness. The plan provides for 2 claims for cancer but there is a catch to it. There is a pretty long waiting period of 5 years before the next one can be claimed. The really good part though, is the cover for Angioplasty and Other Invasive Treatment for Coronary Artery. This is something other insurers do not necessarily cover.