LIA rolls out changes to Critical Illnesses benefit framework

It’s a response to Singapore’s greying population.

Following a one-year review, the Life Insurance Association Singapore (LIA Singapore) today revealed changes to the Critical Illnesses (CI) benefit framework aimed at providing consumers in Singapore with more varied CI products. 

The revised guidelines offers flexibility for more medical conditions to be covered, as well as revised standard definitions for the severe stage of 37 common CIs.

According to Dr. Khoo Kah Siang, President of LIA, “ This is especially important given the changing demographics of our community, medical advancements and expectations of today’s society. Making refinements to the critical illness benefit framework is one of numerous initiatives undertaken by the life insurance industry aimed at providing protection for the well-being of individuals over their lifetime,”