Why is there no standardisation in the definition of 'critical illness'?

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Oct 20, 2007
Why is there no standardisation in the definition of 'critical illness'?
I HAVE some very puzzling issues that I need to clarify but was unable to get a satisfactory answer from Life Insurance Association (LIA).
Recently, I bought two insurance plans for myself pertaining to critical illnesses and female illness from two insurers, Aviva and TM Asia Life.
Both plans were taken up at the same time in June this year. However, one policy had already been issued (Aviva) but the other apparently only after an underwriting process lasting five months.
I would like to know if there is any association that regulates the industry with regards to premium deductions.
When I highlighted my cyst issue to both insurers, Aviva was able to cover me without any exclusion but TM Asia Life wanted to exclude me for critical illness.
Isn't LIA supposed to ensure that all definitions of claims under critical illness should be the same (for example, claims against cancer can only be made if it is malignant, cancerous and spreading)? And hence, the underwriting process should be the same since the risks assumed would be the same for both insurers?
During this period of underwriting, who would be liable should anything happen to me or if my policy was delayed by the insurer by five months? If critical illness should strike me within the waiting period of 90 days despite the policy being issued five months late, would I be able to file a claim? Would the waiting period include their underwriting period since I have paid promptly?
I am concerned as I understand that medical costs in Singapore are rising and the Government encourages us to be more responsible for our medical coverage. It would seem that there is not enough transparency as consumers will only know of the differences in underwriting after we sign up for the plans.
Would any regulatory body or government association be able to assist and ensure that all consumers would be adequately covered in a fair manner?
Jane Bay May Ling (Ms)
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