Can I be covered for cancer if I have pre-existing conditions?

What are the top 3 causes of death in Singapore? Cancer, pneumonia and cardiovascular disease. 1 in 3 Singaporeans die of cancer. According to AIA, 60% of its critical illness claims are from cancer, out of which, 80% are due to breast cancer. The multistage cancer cover offered by AIA Insurance has certainly brought a ray of hope to many who are battling the uncertainty cancer bring in terms of both health and finances. However, how can those with pre-existing conditions benefit from this insurance?

What are pre-existing conditions?

Simply put, a pre-existing condition is any medical sickness or damage that you had prior to obtaining health insurance. Cancer, heart disease, diabetes, and asthma are examples of long-term and/or chronic pre-existing ailments. They can, however, include less significant ailments such as a broken leg, a cold/flu, allergies, and other minor issues. Pre-existing conditions are often excluded from coverage by health insurers, thus any claims for reimbursement relating to them will be denied.

In what way are pre-existing conditions are determined?

Insurers will require you to disclose any pre-existing ailments before proceeding with the underwriting process to assess whether or not you qualify for the plan and what your rates should be. Here are some questions to ask yourself to determine whether or not you have a pre-existing condition:

1. Before beginning the policy, were you diagnosed with anything?
2. Before beginning the insurance, were you treated or advised to be treated for anything?
3. Before beginning the policy, were you investigated or advised to be investigated for anything?
4. Have you been provided medication or encouraged to take medication prior to beginning the policy?
5. Have you ever been hospitalised or been advised to be hospitalised prior to starting the policy?
6. Have you experienced any symptoms prior to commencing the policy?
7. Have you experienced anything that has a strong medical indication that it began prior to the start of the policy? For example, the size of a tumour or cancer stage.

While cancer is on the rise, survival rates go up too. Therefore, it is important to be covered for the various stages of cancer, from early to intermediate to major stage. While there are many types of critical illness insurance in the market, the more comprehensive the cover, the stricter the underwriting process. Meaning that for someone with pre-existing condition such as diabetes, cyst, benign tumor or heart attack, etc, his or her application will be rejected.

Is it feasible to acquire pre-existing condition coverage?

Health insurers frequently deny coverage for pre-existing diseases. But don’t worry if you have a pre-existing condition; there are options for you. 

Complete coverage 

The good news is that you can acquire full coverage that includes your pre-existing conditions. Furthermore, you will not be required to pay any additional premium above the mentioned price (also known as premium loading). Having said that, you’ll need to look for insurers and/or plans that provide this.

So, is there any solution for people with pre-existing condition?

Good news! AIA offers a cancer insurance plan that has all the right ingredients for a boost of cancer protection. This is called AIA MultiStage Cancer Cover and it offers 100% payout at early, intermediate or major stage cancer as well as affordable level premiums that don’t go up with time. 

• Available to people aged 16-55.
• Available to people with medical conditions like diabetes, stroke, heart attack, family history of cancer, etc
• Available to Singapore residents refers to a person who is a Singaporean/Singapore PR or a holder of an Acceptable Pass to reside, work or study in Singapore on a long term basis. Acceptable Pass includes Employment Pass, Work Permit, S-Pass, Student Pass, Long Term Visit Pass, Dependant Pass or other Work Pass such as Personalised Employment Pass, EntrePass.
• Not available to people with cancer (current or prior)
• No medical check-up. Only 3 simply questions at application.

Here are the fixed premium rates for a $100k coverage:

Apart from people with pre-existing conditions, this solution is suitable for people looking to beef up their cancer coverage during their working years or when their dependents are still young . Compared to similar products in the market, AIA’s premium is relatively lower.

What Happens to the eligibility of a multistage cancer cover if Pre-Existing Conditions Aren’t Declared?

I’m sure you understand the significance of insurance.

With rising medical expenditures, hospital bills (e.g., for cancer treatments), and the rising cost of living in Singapore, the importance of having insurance to protect your income against huge medical bills is clear.

The harsh reality is that persons with medical issues may not be able to obtain the full scope of health coverage they desire. As a result, they may consider whether to declare such conditions.

To sign up, simply click on https://insure.aia.com.sg/multistage/56800/M10 or contact us at hello@clema-rs.com.