At Insurance Market we understand the crucial role of advisory!
Updated: Feb 7
The best way to deal with cancer is still to avoid it. That is obvious and it is not absolutely unreachable; it comes with adopting healthy behaviours (or healthier to start with).
With a bit of will and a dash of discipline, we can make some very important steps to living a healthier life!
We can switch off our electronics devices earlier and get a decent night sleep (regularly) to boost our immune system and give the body enough time to repair. We can use a bit more of mindfulness during our hectic days to relieve some of the accumulating stress or attend yoga or meditation sessions. We can go down to the fitness zone or go for a light run (or even an active walk) in the morning or evening when it is not too hot, to get that heart pumping and to burn some calories. At least, we can say no to sugar-packed drinks and gargantuan plates – unless it’s a mountain of veggies!
But we know that all these efforts are unfortunately not a 100% fail-proof shield to protect our most precious asset – our health – from the rampage of critical illness like cancer.
We also need to plan for the worst-case scenario, and that is a difficult discussion that we simply cannot push to the side. Health statistics are not favourable. Critical illnesses and cancers in particular are impacting more and more lives, across all the population groups.
On the positive side, cancer patients are also surviving more often and for longer after the treatment. Female patients 10-year survival rate has more than doubled in the last 50 years (from 26% to 54% today), while Male patients almost quadrupled (from 13% to 46%).
We should rejoice! But we should also be rational about this outcome as fighting the disease is a massive financial drain and consider that subsequent relapse or consecutive associated illnesses is a terrifying possibility.
Not considering the possibility of becoming sick is not going to keep the disease away – that is the equivalent of the “ostrich” putting its head in the sand. And no one will have any enjoyable use for one’s wealth is the health is gone.
So, as sensitive and emotionally charged as it is, it is of the utmost importance that Financial Advisors bring this topic into their conversation with their clients. Having a trusted and enduring client relationship does not make it easier but the FA has the necessary empathy to bring the subject, and to keep bringing it up.
There are numerous and moving stories of cancer survivors who only reluctantly insured themselves to stop having their friendly FA pestering them, then were so grateful for the unrelenting advice that led to purchasing a decent coverage when sadly they were diagnosed months later.
The fight against the disease is not over with the remission. For too long, insurance companies were then excluding critical illness coverage for those survivors or quoting unaffordable premiums, thus putting the survivors in a potentially disastrous situation if they happened to be re-diagnosed.
Luckily the industry has moved from this harsh position, and several insurers now offer packages that account for the new parameters of surviving critical illness and having subsequent unfortunate cancer re-diagnosis or diagnosis of a new cancer.
The packages are comprehensive and cater for:
Early to Advance CI coverage,
coverage against a newly diagnosed cancer, or relapse of previous cancer,
coverage for your children (as hereditary factors may cause dependents to have a higher risk factor of developing a similar cancer),
premium waiver upon diagnosis of an Early or Intermediate Stage Cancer,
a wide choice of payment terms and policy periods…
At Insurance Market Life, our Financial Advisors will take the time to find the best and most adapted products to address their clients needs from a wide range of the best insurance companies available in Singapore. That is an illustration of the virtuous role that this professionals have as they truly care for their clients and work on a long and trusted relationship, without the production quotas.