AIA Singapore has launched AIA Power Critical Cover, an innovative critical illness (CI) plan offering comprehensive protection from diagnosis of pre-early conditions to all stages - early, intermediate, major, and relapse - of critical illnesses.
Wide coverage – 175 conditions
Its wide coverage of 175 conditions – 10 conditions under the Pre-Early Benefit, namely chronic diseases, cardiovascular diseases, and benign and borderline malignant tumours, 15 special conditions including osteoporosis, diabetic complications and severe gout, and 150 multi-stage critical illnesses – is the highest in the market.
The plan is also the first to provide coverage for the rising cost of living with Type 2 Diabetes, one of the most expensive chronic conditions in Singapore.
Three-pronged power protection
The policy’s three-pronged power protection allows continued coverage for multiple illnesses, guaranteed cash value and guaranteed savings benefits to ensure the life assured remains adequately protected.
- Power Reset Benefit
To enjoy continued coverage without getting penalised for having already made claims for other illnesses, the plan restores critical illness coverage amount back to 100%, once 12 months have passed from the previous claim.
- Multiple CI coverage
To better support Singaporeans given the rate of developing multiple chronic illnesses is on the rise, policyholders can make multiple claims for different CI of all stages, up to a total of 500% of the coverage amount.
- Power Relapse Benefit
For 5 of the leading CI conditions* in Singapore, the highest number of covered relapsed conditions in a CI plan: To give patients the strength they need to fully focus on recovery from diagnosis to re-diagnosis, policyholders can claim a relapsed CI condition, up to a total of 200% of the coverage amount.
Ms Mavis Leong, a two-time cancer survivor and AIA Financial Services Consultant, said, “Having gone through cancer twice myself, I cannot emphasise enough how important having adequate coverage is to be financially, physically, and emotionally protected against unexpected events. Critical illness is not a 'death sentence', but just another setback that will help us become stronger.”
Reflecting on her experience, she said it is important for anyone fighting a critical illness to be focussed on recovery. The last thing one should have to think about is the financial burden.
Not everything is about treatment
Other than offering coverage for pre-early conditions to catch symptoms before they become more severe and even more costly to manage, AIA Power Critical Cover also provides access to on-demand telemedicine services from WhiteCoat to make it even easier for Singaporeans to get the support and quality healthcare consult they need to manage chronic illnesses. This means policyholders will be able to seek expert advice and recommendations from healthcare practitioners, anytime and anywhere via a mobile app.
And for policyholders facing serious medical conditions, they will receive the best possible treatment and personalised ongoing support throughout their medical journey with access to independent, global expert medical advice through Medix and its Personal Medical Case Management Service.
As Dr Tay Miah Hiang, Senior Consultant Medical Oncologist at OncoCare Cancer Centre, said, “Not everything is about treatment. Making prevention and early intervention a priority is what Singapore needs, so our society as a whole will benefit from the continued accessibility of quality healthcare.
“Being diagnosed with a critical illness is one of life’s most complex and stressful challenges. We need to take a short term preventive as well as longer-term approach in making sure that we can fully support the patient’s entire health and recovery journey, so they can focus on getting back on their feet, back to their family, and back to chasing their dreams.”
If no CI claims are made, to offer policyholders with guaranteed cash value and savings, AIA Power Critical Cover offers the following benefits:
It is the only standalone CI plan that:
• Pays Death Benefit of 100% of sum assured less any CI benefits paid as well as a compassionate benefit of S$5,000**.
• Provides Surrender Benefit for policyholders who do not make any CI claims over the policy term, and should they decide not to continue with the policy after age 75.
• Offers Maturity Benefit (payable at age 100).
AIA Singapore continues to champion preventive care with AIA Power Critical Cover’s integration with AIA Vitality, the first-in-market comprehensive health and wellness programme designed to encourage policyholders to live healthier with incentives and rewards. With AIA Vitality, policyholders can enjoy a 5% discount on their first-year premium and continue to enjoy subsequent discounts when they improve their Vitality status by making positive health changes in their everyday lives.
Plugging the protection gap
Ms Ho Lee Yen, Chief Customer and Marketing Officer of AIA Singapore, said, “A false sense of security is one of the underlying factors contributing to Singapore’s protection gap. CI policyholders are either unaware of what their plan actually covers, or they mistakenly think that their plans adequately cover all conditions. Therefore, it is of utmost importance to us that AIA Power Critical Cover provides Singaporeans with life-long comprehensive protection, while also staying relevant to evolving healthcare needs.
“As we mark our 100th year in Asia, we remain deeply committed to continuing to challenge ourselves to further enhance our value proposition – especially for CI offerings – to help everyone live healthier, longer, better lives.”
For more information, visit: https://www.aia.com.sg/en/our-products/critical-illness-protection/aia-power-critical-cover.html
* Relapsed Major Cancer, Relapsed Heart Attack, Relapsed Stroke, Repeated Heart Valve Surgery, and Repeated Major Organ / Bone Marrow Transplantation.
** Compassionate benefit of S$5,000 is paid upon death less any amounts owed.
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