Hashtag
The Times Real Estate

New Critical Illness Plan by HL Assurance Aims to Bridge Insurance Gaps for Singaporeans

SINGAPORE – Media OutReach Newswire - 18 September 2024 – There is a critical problem in Singapore: critical illness (CI) coverage, or a lack of it, even in 2024. Many Singaporeans are vulnerable to financial strain from critical illnesses as they are underinsured.



HL Assurance KV


The Life Insurance Association (LIA) of Singapore, which promotes financial literacy and sets industry standards, published a Protection Gap Study in 2023 and found these to be the reasons:

  • The complexity and wide variety of CI policies make it confusing for consumers.
  • Many people deprioritise CI insurance, thinking they won't be affected.
  • High premium costs.
  • Standalone CI policies typically do not offer cash value upon surrender or maturity.
  • It is difficult to assess what adequate coverage is due to the wide range of critical illnesses.
What people may not realize about CI coverage

LIA found that the CI protection gap was 74% as of 2022. This number represents the average shortfall between the money needed for a critical illness event and an individual's insurance coverage.

The average critical illness coverage needed for an economically productive adult in Singapore is around S$316,603, but the average existing coverage is only S$59,776, a substantial shortfall​​ of S$264,586.

Recovering from a critical illness goes beyond immediate medical expenses: ongoing household expenses, debt repayments, and other daily costs. LIA's study estimates that it takes about five years to recover financially without insurance coverage. The sheer sum of these expenses can be emotionally distressing and lead to long-term financial instability for patients and their families.

Early Protect360 Plus effectively addresses these issues

While there is no one-size-fits-all solution, as everyone's needs are unique, Early Protect360 Plus is an affordable, inclusive solution designed to cover as many key areas as possible. Here are reasons why you should consider Early Protect360 Plus for your CI needs:

Comprehensive early and advanced-stage coverage

Early Protect360 Plus offers comprehensive coverage for both early and advanced stages of critical illnesses and checks the essential boxes for severe conditions, including coverage for life-threatening conditions like:

  • all major cancers
  • advanced stage heart attacks
  • strokes with lasting effects
  • end-stage kidney failure, and
  • coronary artery bypass surgery
But this plan also includes early-stage conditions such as:

  • early thyroid or prostate cancers
  • heart valve surgery
  • brain aneurysm surgery, and
  • keyhole coronary bypass surgery
Prioritising early detection aligns with Singapore's Healthier SG movement, which encourages Singaporeans to manage their healthcare proactively. There's a good incentive here: Early-stage critical illness expenses are significantly cheaper than late-stage critical illness treatment costs, and adopting a proactive approach to health might pay off handsomely in the long run.

For example, based on the Ministry of Health (MOH) fee benchmarks, early-stage colon cancer treatments can cost approximately S$14,000, while late-stage interventions can cost up to S$48,000. These are ballpark figures, of course, but they show how much more expensive late-stage treatments are. Moreover, the chances of effective and quicker recovery are significantly higher at the early stage.

The bottom line is that comprehensive coverage for early and late-stage conditions at an affordable premium is a win-win.

High-benefit payouts and unique ICU coverage

One of Early Protect360 Plus's standout features is its high-benefit payouts. The policy offers up to $300,000 coverage, with a 100% benefit payout for covered critical illnesses. Additionally, it provides an extra 20% payout for intensive care unit (ICU) stays, up to $25,000. This payout does not reduce the CI benefit limit and is unique to Early Protect360 Plus.

This thoughtful provision ensures that policyholders have additional financial support during extended hospital stays while retaining the full benefit limit for critical illness treatments.

Ease of enrollment and renewal

By simplifying qualifications, Early Protect360 Plus ensures more people can access critical illness coverage. This policy removes a barrier for those put off by the expense and time needed for mandatory medical examinations. All you need is to answer three simple health declaration questions.

Unlike many competitors, the policy is also renewable up to age 99, providing many seniors with long-term protection now that life expectancy and retirement age have risen significantly.

Affordable premiums and flexible payments to fit your budgeting

Early Protect360 Plus offers flexible payment options and attractive limited-period discounts to encourage Singaporeans to bolster their insurance coverage. Policyholders have options for monthly, annual, or lump sum payments, allowing them to manage their finances according to their preferences and financial situation.

The ongoing launch discounts are also an added incentive, with a 20% discount on the base premium. Policyholders can enjoy additional discounts, with another 5% discount if they pay annually or a further 10% off with a lump sum payment. Even if you sign up after the launch offer expires, you are still eligible for a 10% discount on the base premium.

Broad eligibility to get more people covered

Early Protect360 Plus has broad eligibility criteria and is available to Singapore Citizens, Permanent Residents, and holders of various valid passes (employment pass, work permit, dependent pass, long-term visit pass). So long as you are between the ages of 18 and 65 upon application, the policy is renewable up to age 99, ensuring that many individuals benefit from its comprehensive coverage.

Sign up for Early Protect360 Plus

In the face of rising healthcare costs and the financial challenges posed by critical illnesses, Early Protect360 Plus is a handy shield against unforeseen circumstances with a robust safety net. Its comprehensive coverage, high benefit payouts, ease of enrollment, flexibility, and broad eligibility make it a compelling choice for anyone seeking easily accessible, thorough protection.

Whether you are a young professional, a breadwinner with dependents, or someone with a family history of critical illnesses, consider Early Protect360 Plus to secure your health and financial well-being today. Visit the Early Protect360 page for more information, or sign up here.


Hashtag: #HLAssurance

The issuer is solely responsible for the content of this announcement.

HL Assurance

HL Assurance is a member of the Hong Leong Group, a leading conglomerate with diversified businesses in banking and financial services, manufacturing and distribution, property development and investments, hospitality and leisure, and principal investment with a presence in Asia, Europe, North America, and Oceania. As a licensed general direct insurer and a member of the General Insurance Association of Singapore, HL Assurance offers a broad spectrum of insurance products, including car, travel, home contents, and fire insurance.

Business News

CUHK Faculty of Science: Home to Nobel Laureates and Next-Generation Breakthroughs

HONG KONG SAR - Media OutReach Newswire – 12 March 2025 - Since its establishment in 1963, The Chinese University of Hong Kong's Faculty of Science (CUHK Science) has emerged as a global powerhouse ...

Hashtag.net.au - avatar Hashtag.net.au

New Book Challenges Traditional Hypertension Treatments: Case Study Reveals Breakthrough Approach

"Eradicating Hypertension" Explores How Oxygen Intake and Breathing Optimization Can Transform Blood Pressure Management NEW YORK, USA - Media OutReach Newswire - 10 March 2025 - Hypertension remains...

Hashtag.net.au - avatar Hashtag.net.au

Uzbekistan’s Sellers Post Record Sales Growth on Wildberries Marketplace

MOSCOW, RUSSIA - Media OutReach Newswire - 12 March 2025 - Wildberries, a leading e-commerce platform in Eurasia, saw record sales growth in products from Uzbekistan-based sellers, led by surging dem...

Hashtag.net.au - avatar Hashtag.net.au

Creo Solutions to Launch Booya, an OLP to Expand Financial Inclusion in Mexico

MEXICO CITY, MEXICO - Media OutReach Newswire - 11 March 2025 - Mexican fintech company Creo Solutions is set to launch Booya, a new online lending platform designed to serve the country's underbanke...

Hashtag.net.au - avatar Hashtag.net.au

China’s "Two Sessions" 2025 Government Policy Outlook Indicates Renewed Opportunities for Commercial Real Estate

Cushman & Wakefield Interpretation Report Highlights Five Areas of Opportunity for Real Estate Sectors HONG KONG SAR - Media OutReach Newswire - 12 March 2025 - Global real estate services firm C...

Hashtag.net.au - avatar Hashtag.net.au

James Dyson Award 2025 seeks groundbreaking inventions from young engineers and scientists

HONG KONG SAR - Media OutReach Newswire – 12 March 2025 - The James Dyson Award, an international student design and engineering competition, opens for submissions today to its 2025 programme in 28 ...

Hashtag.net.au - avatar Hashtag.net.au

Health & Wellness

The Importance of Having a Defibrillator in Public Spaces

Hashtag.net.au - avatar Hashtag.net.au

Life is uncertain! It is almost impossible to be 100% sure of the future, anything can happen to anyone at any time. However, in the case of Sudden Cardiac Arrests (SCA), the presence of an Automat...

Understanding Anxiety: Different Types and Treatment Options

Hashtag.net.au - avatar Hashtag.net.au

(Source) Every person experiences anxiety in some form as they face either pre-event heart palpitations before important events or constant sleep deprivation because of ongoing concerns. People exp...

How Technology Is Improving Community Support Services?

Hashtag.net.au - avatar Hashtag.net.au

(Source) Technology is literally a part of our everyday lives. Everything we do is highly dependent on technology in this day and age. The interesting part is that not just the younger generations ...