Critical Illness Insights - Singapore

Critical Illness Insurance was introduced to the Singapore market around the late 1980s. Sales gained momentum throughout the 1990s, with sales in year 2000 reaching 100,000 new policies. With such growth, the Life Insurance Association (LIA) of Singapore released a standardized critical illness definition in 2003; this helps ease consumers’ understanding of critical illness products. Recognizing the impacts of changing lifestyles and improving technology, the definitions have changed throughout the years, with the most recent change being in 2019.

Dread Disease - Singapore