FAQ : “Can I sign up for Critical Illness insurance ONLY ?”

YES you can.

Most companies provide this as a standalone policy (meaning you don’t have to purchase life insurance with it – just like signing up for a medical card).

How does it work ?

Once the insured is diagnosed of a critical illness (refer to the list of illnesses in your policy contract – usually 30 or more) after the stated waiting period, a lump sum payment based on the amount insured will be payed out, after which, the policy is terminated.

Simple english : The moment you are diagnosed of a critical illness, your insurer pays you in 1 shot.

It could range from anything between RM 10,000 to RM 250,000 or more.

Why would you buy this kind of policy?
Just like a term policy, you pay the minimum possible amount of premium in return for the highest amount of protection.

How Much ?

Ahhh.. now you’re talking! Well, depending on your current age, it could be anywhere between RM 300 – 3,000 per annum based on the amount of Critical Illness coverage.

Some insurers package this plan with a daily hospital allowance to make the plan more attractive. Another plus point is that I know of a company whereby you pay level premium at entry & stop paying at age 55 BUT you are covered up to age 70 FOC.

WOW ! not bad huh?! The next logical question would be “Where do I sign?” (ehm.. ehm)


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