Critical illnesses Commonly Covered by Insurance

Imagine this. You go through the motions daily — balancing between work and family commitments whilst setting aside time and energy for your dreams. Out of nowhere, a major accident, unexpected symptoms or sudden emergencies lead to a hospital visit. Even after the initial shock has worn off, there will be aftereffects you would have to deal with.

Read on to find out how you can protect yourself and loved ones in the event you are diagnosed with critical illness.

What is the difference between a Medical Plan and a Critical Illness Plan? 

Policyholders often ask, “What is critical illness, exactly?” Different insurers have different plans and policies, with many unable to accurately define critical illness. At Manulife Malaysia, critical illness is defined as any life-threatening condition that requires pharmacological and/or mechanical support of vital organ functions without which death would be imminent (Nates et al., 2016)*.

* DOI: 10.1097/CCM.0000000000001856

Critical Illness and Medical plans are two distinct types of insurance plans, each with its own purpose and coverage. The structure of both forms of insurance have been created to cater to different medical needs.

A Critical Illness Plan provides a lump sum payment to the policyholder upon diagnosis of a specified critical illness such as cancer, heart attack, stroke etc. This payment is meant to alleviate the burden of costs related to the illness such as medical bills, lost income and support for dependents such as children. The coverage of a Critical Illness plan is focused on a list of specific critical illnesses included in the policy and may not cover other medical expenses that are not related to these illnesses.

A Medical Plan, also known as a health insurance plan, provides coverage for a range of medical expenses including hospitalisation, doctor visits, prescription drugs, and other medical services. The coverage of a medical plan is broader and covers a wider range of medical expenses, including those not related to critical illnesses.

Whilst a Critical Illness plan may be used to cover costs related to a specific set of critical illnesses, a medical plan provides broader coverage for various medical expenses. When selecting an insurance plan to meet your protection needs, consider the possibility of contracting critical illness, potential contact and high-risk lifestyle choices such as smoking.

Considering your personal risks is the best way to ensure that you have the appropriate coverage for your needs.

Get coverage for critical illnesses with an all-encompassing insurance policy

Though life is unpredictable, we can do our part to mitigate risk by planning ahead. Getting an insurance plan that includes life and critical illness coverage is a good start as advancements in medical technology have allowed for a much higher survival rate in treating critical illnesses. The Advance Beyond Critical Cover insurance plan is a fitting plan, in which 142 critical illness conditions are covered – with higher coverage for major critical illnesses such as cancer, stroke and heart attack.

The plan is built on the principle of H.O.P.E. Holistic coverage begins from the early stage of critical illness diagnosis all the way to post-treatment events. Overall critical events coverage covers hospitalisation bills tied to critical illness. Post-critical illness coverage on disability arising from the covered major critical illnesses are included in the plan, with additional financial support added when long-term care is required. Beyond this, extended coverage to support prolonged treatment has also been built into the plan. This is essential, especially for critical illnesses such as cancer, in which continuous financial support is included to facilitate your recovery phase.

The Advance Beyond Critical Cover plan encompasses benefits payable in three separate stages. In the early stage of admission, 25% of the rider’s face amount may be claimed to assist with treatment. This coverage increases as critical illness progresses, with payable benefits of up to 60% and 100% of the rider’s face amount as the illness reaches advanced stages.

At Manulife Malaysia, we prepare for life’s eventualities with your health in mind – to make your every day better. Click here to explore possible treatments, range of critical illnesses covered and the special benefits offered in our programme.