LIA Is Changing The Definition Of Critical Illness. How Does This Affect You?
From 26 August 2020, the life insurance industry in Singapore will be switching to a new critical illness (CI) definition. The last time such a major change in CI definition was made was in 2014 when LIA published the 2014 CI framework. According to LIA president Khor Hock Seng, the changes were made to address ambiguities of existing CI definitions arising from medical advancements and health trends in the last 5 years.
What Has Changed In LIA’s CI Definition Framework 2019?
So, what has changed in the latest CI definition released by LIA?
Based on LIA’s research findings, over 90% of all severe stage claims received by life insurers are from 5 CIs: Major cancer, heart attack of specified severity, stroke with permanent neurological deficit, coronary artery bypass surgery and end-stage kidney failure.
Thus, the major changes in LIA’s CI definition 2019 are on 4 out of these 5 CIs.

Refer to this page for the major changes in ci definition
How Does LIA’s Critical Illness Definition Framework 2019 Affect You?
Existing CI Insurance Policyholders
For existing CI policyholders, you aren’t affected by any of these changes. Your existing CI insurance will still be covered by the old LIA CI Definition Framework 2014. Similar to the new changes to the Integrated Shield Plan (ISP), those who bought early are enjoying the old CI definition. So, kudos to you for getting your CI insurance early.
However, you also need to make sure that you have got the right coverage amount. As a rule of thumb, your CI insurance coverage amount should be 10 times of your existing annual income. This will give you adequate financial coverage for 10 years of your life, should you be diagnosed with CI.
Reach out to us to see how you can extend your CI insurance coverage so that you are financially protected.
Those Who Haven’t Bought Any CI Insurance Yet
If you are one of those who haven’t bought any CI insurance, don’t panic. That’s because the new CI Definition Framework will only take effect from 26th August next year (i.e. 2020). This means that you still have time to get yourself covered under the LIA CI Definition Framework 2014.
But more importantly, regardless of which LIA CI Definition Framework, getting your CI insurance coverage is much more important. You should definitely take this chance to get your CI insurance plan while you are still in the pink of health.
Want to get yourself covered for CI? Make sure you compare CI insurance plans here to find the best deal.
Where Can You Get Your Critical Illness Insurance?
If you are looking to get your CI insurance but not sure where to get the right advice, you can always reach out to Moneyline.sg. The Moneyline.sg team specialises in financial planning and getting you the best CI insurance for your coverage needs. Be it whether you are looking for Early CI coverage or Multii-Pay CI coverage, Moneyline.sg will provide you with the best advice to suit your financial needs.
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