What is the Citibank CancerCare?
As the name persists, it is a critical illness insurance policy that takes on Cancer as its primary illness to battle. If offers you lump sum payouts when you are diagnosed with cancer, with no care to which stage of cancer it is.
Get 30% lump sum payout of your sum assured when you are diagnosed with early stages of cancer. 100% of the sum assured when you are fully diagnosed with cancer and 200% if the cancer is gender specific, either to both male or female.
How do the premiums work?
With 4 different plans to choose from you will have a varying premium depending on the one you choose. Based on that you will have a total sum assured ranging from RM50,00 to RM200,000. The payable amount based on prognosis will follow the same principals but vary according to your plan.
Your premiums will be charged to you monthly and can be paid for in an array of fashions. Choose to tap your card at a Citibank counter, make a bank deposit or an online credit transfer, there are now several ways for you to get your money where it needs to go.
What are the other benefits?
Aside from there being the nifty trick of having a lump sum payout option, there are a couple more interesting things about this policy. You will get a power reset every 12 months after a payout. That means that if you have withdrawn 100% of your sum assured for your first diagnosis of cancer, you can repeat the process 12 months later, with again a 100% payout.
Other than that, as mentioned if you have a gender specific cancer, for example; breast cancer, fallopian tube cancer, cervical cancer, ovarian cancer, cancer of the uterus, vagina or vulva, along with testicular cancer, penial cancer or prostate cancer, you will have a 200% lump sum payout in these cases.
There will also be the matter of a compassionate benefit upon death and a cash payout upon maturity.