Manulife Singapore has launched two new insurance plans aimed at addressing the critical illness protection gap in the country, which currently stands at 74%. The new offerings, Manulife Early CompleteCare (MECC) and Manulife EarlyCancer Protect (MECP), are designed to provide comprehensive and affordable coverage for critical illnesses and cancer, respectively.
MECC offers extensive coverage for 126 critical illness conditions across early, intermediate, and advanced stages. It includes a Continuous Cancer Income option, providing a monthly payout of 4% of the sum insured for up to 60 months, and a Cover Me Again benefit, allowing for up to four additional claims. The plan also guarantees a death benefit of at least eight times the annual premium.
MECP, on the other hand, provides straightforward and affordable cancer coverage. The policy covers all stages of cancer with a 100% payout upon diagnosis or death. It features a simplified underwriting process, requiring answers to just four questions, and guarantees renewal every five years without a health check-up, provided no claims have been made.
Mark Czajkowski, Chief Marketing Officer of Manulife Singapore, stated, “With the launch of MECC and MECP, we want to initiate a conversation on what holistic health looks like for our customers.” Thomas Lee, Chief Product Officer, added, “The financial impact of a critical illness can be devastating. With MECC and MECP, we hope to give our customers more options to ensure that their financial well-being is protected.”
These new plans aim to provide Singaporeans with greater financial security, allowing them to focus on recovery rather than financial strain.
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