Do not read this after 26 August 2020

If you are planning to review your policy soon or get additional life insurance coverage, you may want to get it done as quickly as possible as from 26 August 2020; you will be affected by the changes to the Critical illness definition.

There will be stricter exclusions for the following conditions:

Life is uncertain, so is our health, thus we would not know what illness would strike us in the future, such stringent definitions would mean less extensive coverage.

However, there is still a pro to the new critical illness definitions:

However, you can always get a new plan anytime AFTER 26 August 2020 (with good health of course) when you do a policy review. Thus you may want to take advantage of the time now to get covered for conditions that would be tougher to claim after the changes.

Take my advice, do your review with your trusted advisor (me!) as soon as possible as we might expect a surge in applications before 26 August 2020 for those who want to take advantage of the current critical illness coverage.

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