Which is Better: Critical Illness or Cancer Plans?

Critical Illness (CI) and Cancer plans - is there really a "better" plan between the two? Consider these 3 factors to determine which policy will be able to better suit your desired protection levels.

FSM Aug 24, 2018 4762


Critical Illness (CI) and Cancer plans - is there really a "better" plan between the two? Providing lump sum pay-outs in the event of a successful claim, both plans offer income replacement in the event that you are unable to work. As the plans were designed to cater to the needs of various individuals, their coverage levels differ and are therefore unsuitable to be used interchangeably. Instead, consider these 3 factors to determine which policy will be able to better suit your desired protection levels.


#1 Intention

What are you most afraid of being diagnosed with - is it just cancer or a range of illnesses? To decide which plan could better suit your needs, it is first important to determine your intention for coverage.

Cancer plans provide coverage for just cancer and would only pay out in the event of a cancer diagnosis. Specialising in cancer care, they offer a more thorough coverage for cancer protection. As such, if you are only concerned about being diagnosed with cancer, then cancer plans may be suitable for you.

On the other hand, CI plans offer coverage for 110 medical conditions. This includes cancer as well as other illnesses such as stroke, heart attack and others as specified in the list of conditions. CI plans also offer the option for multiple coverage thus allowing you to remain protected even after being diagnosed with a critical illness. Additionally, you may also receive additional benefits such as second medical opinion and psychological counselling services that are part of CI plans. Therefore, if you wish to receive more than just cancer coverage, consider CI plans.


#2 Cost

While the cost of cancer plans may be more pocket friendly, it is important that you do not make your decision based solely on the cost. For example, CI plans while pricier, are able to provide coverage against various illnesses whereas cancer plans only protect against cancer. As such, if you are the sole breadwinner and/or are uncomfortable with only cancer protection, then CI plans with its comprehensive coverage may provide more reassurance.

Moreover, we advise against merely purchasing the cheapest option. Instead, we believe in setting aside a budget that you are comfortable with. This then allows you to work towards optimising your budget to obtain your desired levels of coverage thus ensuring that your coverage is personalised and at the best value.


#3 Medical history

Lastly, you may also wish to consider your family and/or own medical history as this could shed light on the illnesses that you may be more susceptible to. Moreover, if you have existing conditions or if your family have a history of medical issues, you may require a medical check-up when purchasing a CI plan.

However, cancer plans may still provide coverage even if you have existing non-cancer related medical conditions. With simple underwriting questions that are specific to cancer risks, cancer plans are therefore easier to purchase.



Life Takes Unexpected Turns. Be Prepared for the Worst. Request for a quote from FSM INSURANCE.

If you would like to know more about insurance plans that provide coverage for Critical Illness or cancer, talk to our team of friendly advisers. You can contact our advisers at clienthelp.my@fundsupermart.com.


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