Did you know that 1 in 4-5 people may develop cancer in their lifetime?
There are over 30 types of critical illnesses as defined by the Life Insurance Association of Singapore (LIA).
Here is the pie chart which shows the top 3 causes of death due to critical illness.
(Updated 2021)
Cancer is still the leading cause of death, accounting for 28.4% of total deaths. It is also one of the most common critical illness. Just these 3 causes make up over 65% of total deaths in Singapore.
And when the top 10 causes are summed up, the total percentage comes up to 89.1%. This means that only 10.9% are from other causes.
The BIG 3
Let’s take a look at the top 3 causes of death.
1. Cancer
Cancer refers to a large number of diseases characterized by the development of abnormal cells. These cells have the ability to divide uncontrollably, infiltrate and destroy normal body tissue.
The probability of developing cancer is 1 for every 4 to 5 Singaporeans by the age of 75.
With regular screening, early detection of cancer can be made. This can help increase the likelihood of survival.
2. Pneumonia
Pneumonia is an infection that inflames the air sacs in one or both lungs.
General symptoms include fever, shortness of breath, cough and chest pain.
People who have weaker immune systems are more susceptible to develop a severe case of pneumonia.
The 4 stages of pneumonia include
1. Congestion
2. Red Hepatization
3. Grey Hepatization
4. Resolution
3. Ischemic Heart Diseases
Ischemic heart disease is also known as coronary artery disease is the term given to heart problems caused by narrowed heart arteries. When arteries are narrowed, less blood and oxygen reach the heart muscle. This can lead to a heart attack.
Risk factors include smoking, high blood pressure, obesity, high cholesterol and diabetes.
Depending on the situation, there are 2 treatment options.
The first is angioplasty with stenting. This is a procedure to open narrowed or blocked blood vessels that supply blood to the heart. The stent helps prop the artery open, decreasing its chance of narrowing again.
The second is coronary artery bypass surgery. This procedure creates a new route of blood flow that bypasses the “clogged” section of the artery from another section of the body.
The costs of both procedures including after-care can be costly.
We cannot avoid the inevitable but can be prepared for it
Death will happen eventually and we will never be able to predict the future or when unexpected emergencies will strike. Hence the term “Carpe Diem” which means seize the day.
However, we should also be prepared for the worst by ensuring our loved ones will be taken care of and any financial burden in the event of our death should be cleared.
If you’re one of the few people who are not covered for death or critical illnesses, you risk financial hardship that comes with such situations.
Optimize your personal finance. Join our webinar on critical illness planning.
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