Your Guide To Cancer Insurance As A Woman

About this article:
  • Find out the top most common cancers affecting women in Singapore
  • Learn why it’s important to have insurance coverage for cancer in Singapore.
  • Know the key things to consider before purchasing a cancer insurance policy.

As women, it’s important that we’re resourceful and strong, ready to take on anything life throws our way, including health challenges as daunting as cancer.

This article is your roadmap to conquering cancer with confidence. With cancer estimated to affect 1 in 4 Singaporeans*, the threat of facing cancer has become all too real. We’ll equip you with the knowledge to navigate the world of insurance, so you can choose a policy that helps you focus on what matters most: getting healthy.

Most Common Cancers Affecting Women

Here are the top most common cancers affecting women in Singapore, based on statistics from Singapore Cancer Society*:

  1. Breast Cancer: This is the most prevalent cancer among women in Singapore, with over 12,700 new cases diagnosed annually. It represents 29.7% of all diagnosed cancers in women (2017-2021).
  2. Colorectal Cancer: This type of cancer affects both the colon and rectum. Colorectal cancer is the second most common cancer for women in Singapore, with over 5,500 new cases diagnosed each year. It represents 12.9% of all diagnosed cancers in women (2017-2021).
  3. Lung Cancer: Lung cancer is the third most common cancer in Singaporean women representing 7.9% of all cancers affecting women. There are over 3,000 cases annually (2017-2021).
  4. Uterine Cancer: The fourth most common cancer, uterine cancer is most commonly manifested in the form of endometrial cancer. There are over 3,000 cases annually, representing 7.3% of all cancers affecting women (2017 – 2021).
  5. Lymphoma: Lymphoma refers to cancer that starts in white blood cells. Depending on the type of lymphoma, the disease may appear differently, progress at a different rate or cause mild to severe symptoms. There are more than 2,000 cases reported annually, representing 5.2% of all cancers affecting women (2017-2021).

Other common types of cancers that affect women in Singapore are:

  • Ovarian & Fallopian Tube Cancer: This cancer originates in the ovaries and can be challenging to detect in its early stages. Ovarian cancer affects over 1,800 women in Singapore each year, representing 4.3% of all cancers affecting women (2017 – 2021).
  • Cervical Cancer: The two most common types of cervical cancers are squamous cell carcinoma and adenocarcinoma. More than 200 women in Singapore are diagnosed with cervical cancer every year.

Health Financial Literacy: Your Financial Shield

Let’s talk health financial literacy. Cancer treatment, while excellent in Singapore, can come with significant costs. That’s why having an Integrated Shield Plans and Cancer Insurance are so important, as they act as your financial shield. They provide a safety net, protecting you from financial burdens during an already challenging time.

Integrated Shield Plans (IPs) help offset pre-hospitalisation, post-hospitalisation and in-hospitalisation costs. You can also purchase a rider to reduce your out-of-pocket costs to just 5%. 

However, IPs may not fully cover all cancer treatment expenses depending whether your treatment and services are part of the Cancer Drug List. You would also need to take time off from work as you recover, which means you lose a steady flow of income to finance your dependents’ and your own living expenses.

This is where Cancer insurance comes in. As a complement to your IP, this plan provides additional financial support for cancer-specific needs like advanced procedures or medication, and if you choose a cancer insurance plan that offers payouts upon diagnosis, this can serve as replacement to your lost income during your recovery period.

Key Considerations for Your Cancer Insurance Policy:

  • Coverage Matters! Different plans offer varying coverage for different types of cancer. Ensure your plan offers coverage for the most common cancers affecting women in Singapore, like breast cancer and colorectal cancer. If you have a family history of cancer, talk to your insurance agent about tailored coverage options.
  • Early Detection, Early Protection: Some plans provide coverage for early, advanced, or all stages of cancer. Ensure your plan includes coverage for early-stage diagnosis so you’re able to seek treatment once cancer is detected. (Remember, cancer detected during early stages is usually simpler to treat compared to later stages)
  • Life-Long Protection: Ensure the policy is renewable throughout your life, even if you develop a pre-existing condition.
  • Stay Within Your Budget: Cancer insurance premiums vary depending on your age, health status, and chosen coverage. It is always good practice to compare quotes from different insurers to find a plan that is within your means.

Women Insurance Policies for Cancer Coverage

Name of Policy NTUC Income Lady 360 PRULady AIA Glow of Life HSBC Life CritiCare for Her
Insurer Income Prudential AIA HSBC Life
Critical Illness Coverage Coverage for specific female illnesses and female surgeries, such as carcinoma and masectomy in situ of female sites Coverage specific for women, such as female-specific medical conditions and procedures Payouts for female-related conditions such as breast cancer, osteoporosis and arthritis Coverage for female-related conditions such as rheumatoid arthritis, malignant cancer of the breast, cervix uteri, uterus, fallopian tube, ovary, vagina/vulva
Additional Benefits Up to 100% of the sum assured for post-diagnosis support benefits, including egg-freezing before cancer treatment to preserve fertility, outpatient psychiatric sessions Choose to add on a Maternity Cover for extra benefits such as hospital care, congenital illnesses and pregnancy complications Up to 100% reimbursement for reconstructive surgery due to an accident or burn Your child can receive free coverage of up to SGD5,000 in the event that they’re diagnosed with critical illness
Free Health Screening Every 2 years Every 2 years Every 2 years Every 2 years

Please note that while we try our best to present information that is as accurate and up to date as possible, there may be changes which are not reflected in the charts above. For more detailed information, please contact your insurance agent or the respective insurer directly.

Woman Power: Proactive Steps for Optimal Health

Cancer insurance is a powerful tool to add to your health and financial wellness arsenal. By knowing what you need most from a plan and comparing various options from insurance agents or financial advisers, you’ll be empowered to choose an insurance plan that covers you well, so you can face any challenge with confidence.

As important as it is to stay covered, it’s just as important to schedule regular cancer screenings, as they can help you detect cancer in its early stages when it’s simpler to treat. Check with your insurance agent or financial adviser if you already have cancer screening benefits as part of your Integrated Shield Plan, or if you can sign up for wellness programmes that offer screening packages. (e.g. AIA Vitality)

By investing in your health now, you’re not just protecting yourself and your loved ones, you’re also building a brighter future for the amazing woman you are!

References:

Singapore Cancer Society, SingHealth, National Cancer Centre Singapore

Share This Post