What is the Citibank CancerCare?
CancerCare is a critical illness protection plan, that offers you care and financial aid through your battle with cancer. If offers you lump sum payouts when you are diagnosed with cancer, with no care to which stage of cancer it is.
How much coverage do I get?
Get 30% lump sum payout of your sum assured when you are diagnosed with early stages of cancer. This accelerated Sum Assured payout will apply in the following cases;
- Carcinoma in situ
- Early Prostrate Cancer
- Early Thyroid Cancer
- Early Bladder Cancer
- Early Chronic Lymphocytic Leukaemia
You will get a 100% payout of the sum assured or your total premiums paid, whichever is higher, if 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. Which means that if you have withdrawn 100% of your sum assured for your first diagnosis of cancer, you can get another payout of the equal amount after 12 months from the diagnosis date.
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, penile 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 your death that will be helpful to your family and loved ones, the amount is based on the plan that you choose to purchase. That being said, your family, or nominee will also get a cash payout of a 100% of your Sum Assured in the event of your death, so you can be sure that they will be financially sound, just in case.