- Receive 100% payout of basic sum insured for critical illness (CI) conditions across all ages
- Make multiple claims against multiple/recurring CI diagnosis
Protect against life uncertainties with health insurance
Explore the types of protection available and the factors to consider when deciding how much coverage you may need.
Importance of health insurance
Illness, injury and other unexpected events can affect both your health and finances. Health insurance, including medical and critical illness insurance, can help you prepare for these uncertainties.
The health protection gap in Singapore
Insurance can provide financial protection against unexpected health events, but coverage varies across different types of protection.
According to the Manulife Asia Care Survey 2026, 70% of Singapore respondents are concerned about the affordability of future care needs, highlighting the importance of planning for potential healthcare expenses.
What types of insurance can protect you?
Life is unpredictable, and different types of insurance are designed to help you prepare for different financial challenges. Whether you're starting your career, raising a family or planning for retirement, having the right protection in place can help give you greater peace of mind.
Here are some common types of insurance and how they can help:
- Term life insurance: Helps provide financial support for your loved ones if you pass away, become terminally ill or, depending on the plan, suffer total and permanent disability during a specified coverage period.
- Whole life insurance: Provides lifelong protection against events such as death and terminal illness. Depending on the plan, it may also include total and permanent disability coverage and build cash value over time.
- Critical illness insurance: Provides a lump-sum payout if you are diagnosed with a covered critical illness. This can help ease financial pressure by supporting medical expenses, daily living costs or other financial commitments during recovery.
- Hospitalisation insurance: Helps cover eligible medical expenses arising from hospitalisation due to illness or injury. In Singapore, MediShield Life provides basic coverage, while an Integrated Shield Plan can offer additional coverage.
- Personal accident insurance: Provides financial support if you suffer an accidental injury, with benefits that vary depending on the plan and policy terms.
No single insurance plan protects against every risk. Understanding the role of each type of coverage can help you identify potential protection gaps and build a protection strategy that supports your financial goals and lifestyle.
How much insurance coverage do you need?
- Income: Think about how much income you and your family rely on, especially if an illness, injury or disability could affect your ability to work.
- Dependants: Consider who relies on you financially, such as your children, spouse or parents, and the support they may need.
- Liabilities: Factor in financial commitments such as a home loan, other debts and regular household expenses.
- Existing savings and coverage: Review your savings and investments, as well as any insurance you already have, including coverage provided through your employer. This can help you identify any gaps in your protection.
- Life stage: Your protection needs can change as your circumstances change. Getting married, having children, buying a home or approaching retirement may all affect the coverage you need.
Review your insurance coverage regularly to make sure it continues to match your needs and financial situation.
Explore health solutions
- Cancer insurance which covers all stages of cancer
- Covers breast, tyroid, prostate and other types of cancer
- Cover selected critical illnesses & special conditions
- Fuss-free application with only 3 health questions asked
Frequently asked questions
While it's impossible to predict what the future may bring, planning early can help you put financial protection in place before your responsibilities increase. In general, insurance coverage may be more affordable and easier to obtain when you are younger and in good health. As you get older or develop pre-existing medical conditions, the coverage available to you, as well as its cost, may change.
Life events such as starting a family, becoming a primary breadwinner or taking on a mortgage are also good opportunities to review your protection needs and ensure your loved ones are financially supported if the unexpected happens.
Health insurance can help cover eligible medical expenses, while critical illness insurance typically provides a lump-sum payout after diagnosis of a covered illness. The payout can help with medical costs, daily expenses or lost income, subject to policy terms.
Review your existing policies, employer-provided benefits, savings and financial commitments. Then consider whether your current coverage could support your needs if illness, injury or disability affects your health, income or ability to meet financial obligations.
Review your insurance when your circumstances change, such as getting married, having a child, buying a home or taking on new financial commitments. These changes may affect your protection needs, so regular reviews can help keep your coverage relevant.
Employer-provided insurance can form part of your overall protection, but it may not cover all your needs. Consider the benefits available, the level of coverage and whether they remain sufficient if your circumstances or employment change.
Disability income insurance can provide income replacement if an illness or accident leaves you unable to work, subject to the policy terms. Critical illness insurance can also provide a lump-sum payout after a covered diagnosis to help manage financial needs.
The information on this page is for general informational purposes only and does not constitute financial advice.
We recommend that you seek advice from a Manulife Financial Consultant or our Appointed Distributors before making a commitment to purchase a policy.