Health x Wellness
Manulife Singapore Launches Critical Illness and Cancer Coverage to Bridge Protection Gaps
Manulife Singapore has introduced two new insurance solutions aimed at safeguarding Singaporeans from the financial strain of serious illnesses.
The Manulife Early CompleteCare (MECC) plan provides comprehensive coverage for critical illnesses, while the Manulife EarlyCancer Protect (MECP) plan offers affordable term insurance for all stages of cancer. These options empower customers to take control of their financial well-being, offering protection when it matters most.
Addressing the Critical Illness Protection Gap
With data from the Life Insurance Association’s 2022 Protection Gap Study revealing a 74 percent critical illness protection gap, Manulife’s new offerings respond to an urgent need.
The study highlighted a staggering SGD 579 billion shortfall in critical illness protection among economically-active Singaporeans, underscoring the importance of accessible and flexible solutions.
MECC: Tailored Coverage for Peace of Mind
The Manulife Early CompleteCare (MECC) plan offers a safety net with coverage across 126 critical illness conditions, spanning early, intermediate, and advanced stages. Key features include:
- Full payouts: Policyholders receive 100 percent of the sum insured upon diagnosis of any critical illness.
- Continuous Cancer Income: Up to 240 percent of the sum insured, with monthly payouts of 4 percent for 60 months, helping with cancer treatment costs and living expenses.
- Cover Me Again benefit: Up to four additional claims, providing as much as 400 percent of the sum insured, even across different stages.
- Guaranteed death benefit: Dependents receive a payout worth at least eight times the annual premium, regardless of prior claims.
These benefits are designed to help ease the financial burden on individuals and families facing life-altering diagnoses.
MECP: Simple and Affordable Cancer Coverage
Recognising cancer as Singapore’s leading cause of death, the Manulife EarlyCancer Protect (MECP) plan offers a straightforward, cost-effective way to secure coverage. Its streamlined application process requires answering just four questions—no health check-up needed. Other features include:
- All-stage cancer coverage: A 100 percent payout of the sum insured upon diagnosis or death.
- Guaranteed renewability: Automatic policy renewal every five years, as long as no claim has been made.
With affordable premiums and simplified processes, MECP ensures wider access to essential coverage.
With the launch of MECC and MECP, we want to initiate a conversation on what holistic health looks like for our customers. Our aim is to integrate health and wellness into our insurance solutions, empowering people to live better lives.
Mark Czajkowski, Chief Marketing Officer of Manulife Singapore, highlighted the broader vision behind these offerings
Find out more information at their respective websites – Manulife Early CompleteCare (MECC) and Manulife EarlyCancer Protect (MECP).
Picture credit to Manulife.
