Last Updated on March 4, 2022 by Parentology
When it comes to protection, Critical Illness is one of the most important aspects, be it for adults or children. For adults, Critical Illness (CI) is a form of income protection. For children however, while they are still not financially sustainable on their own and have no income, is Critical Illness coverage still important for them then? Or rather, what does CI plans cover for children?
The answer is relatively simple, as CI plans protect the parents or caregiver’s income in the event of CI occurring to children, so they can afford to pause working (or step down role) to focus on taking care of the kids without worrying (too much) on income and expenditure.
Traditionally, CI plans tend to just cover the 37 CI (as identified and listed by LIA), and only on the advanced stages of the Critical Illnesses. If early and intermediate stages of the CI were to be diagnosed, the old CI plans will not pay out and the life assured would have to wait until it becomes advance stage before any payouts can be issued.
Take CIs like stroke for example, when the symptoms have surfaced (and diagnosed), the rate of survival will decrease significantly and in Singapore, 1 out of 10 stroke patients are below the age of 50.
Another scenario: Since 2010 to 2015, cancer has spiked increasingly by an astounding 17% and everyday 36 people are diagnosed with cancer in Singapore. Cancer is now the top critical illness in Singapore . And this was all done “despite certain cancers being preventable if people choose healthier lifestyles and drop bad habits.” (source: Straits Times)
The good thing is, with the advancement of technology, awareness and savviness is made to more people, resulting in more people going for regular health checks (you should!). This helped greatly in detecting early any illnesses that may arise and treat it. However, despite this information, many have not even heard of early stage critical illness protection.
Aviva’s My Early Critical Illness is a straightforward stand-alone critical illness coverage plan. Aside from covering from early，intermediate to advance stage CI, the plan also has benign tumour benefits as well as ICU benefits. Also, the special conditions and juvenile benefits prove to be comprehensive for all ages as well as being useful for children.
|My Early Critical Illness Plan II (NEW!)||My Early Critical Illness Plan (withdrawn)|
Total payout for critical illnesses
|100% of Sum Assured
|100% of Sum Assured|
|Total number of conditions covered across early, intermediate and severe stage critical illnesses||132||
51 (overlapping of Early, Intermediate and Severe stage CI definitions)
Number of conditions covered under Special Benefit
– Intensive Care Benefit, Benign and Borderline Malignant Tumour Benefit
Source: Singlife with Aviva
Singlife with Aviva’s My Early Critical Illness II Product Features and Benefits at a Glance
Additional Coverage – Special Benefits & Juvenile Conditions
The 27 Special Benefits comprises of 16 Special Conditions and 11 Juvenile. In the event of being diagnosed with any of the 27 conditions, this benefit can be claimed up to 6 times for each different condition.
The claim is an additional 20% of Sum Assured, up to $25, 000 per condition and will not compromise the sum assured for the Critical Illness payout.
Special Benefit Conditions – Protection Up To Age 85
|1. Diabetic Complications|
|2. Angioplasty & Other Invasive
Treatment For Coronary Artery
|3. Osteoporosis with Fractures|
|4. Severe Rheumatoid Arthritis|
|6. Chronic Adrenal Insufficiency (Addison’s Disease)|
|7. Chronic Relapsing Pancreatitis|
|8. Hysterectomy due to Cancer|
|9. Dengue Haemorrhagic Fever|
|10. Wilson’s Disease|
|11. Severe Crohn’s Disease|
|12. Severe Ulcerative Colitis|
|14. Age-related Macular Degeneration with Visual Impairment|
|15. Severe Presbycusis (Age-related Hearing Loss)|
|16. Urinary Incontinence requiring Surgical Repair|
Special Benefit Conditions (Juvenile) – Protection Up To Age 18
|17. Severe Juvenile Rheumatoid Arthritis (Stills Disease)|
|18. Severe Haemophilia|
|19. Rheumatic Fever with Valvular Impairment|
|20. Osteogenesis Imperfecta|
|21. Insulin Dependent Diabetes Mellitus|
|22. Kawasaki Disease|
|23. Glomerulonephritis with Nephrotic Syndrome|
|24. Type I Juvenile Spinal Amyotrophy|
|25. Autism of Specified Severity|
|26. Generalised Tetanus|
Intensive Care Benefit
In the event if the Life Assured is hospitalized and admitted to 4 or more days into Intensive Care Unit (ICU), there is a payout of additional 20% of Sum Assured, up to $25, 000. This will not reduce the Sum Assured.
For kids, this is actually a good payout feature coming from Aviva, as it complements the hospitalisation plan as it reliefs hospitalisation bill and pays out on top of the treatment and hospitalisation stay.
The new Intensive Care Benefit works hand in hand with the hospitalisation coverage to ease the hospital bill as well as financial support during this time of difficulty of ICU stay.
Criterias to be Fulfilled
- Life Assured needs to survive for 7 days after first day of ICU admission
- The ICU stay has to be Necessary Medical Treatment as diagnosed by the doctor. A stay in ICU is not considered Necessary Medical Treatmentif the Life Insured can be safely and adequately treated in any other facility
- The Intensive Care Benefit only claimable once
- Fulfils the waiting period
Benign & Borderline Malignant Tumour Benefit
In the event if the Life Insured:
- Completes a surgical excision of a benign tumour requiring surgical excision from any of the 22 specified organs listed below
- Diagnosis of a Borderline Malignant Tumour
There is a payout of additional 20% of Sum Assured, up to $25, 000. This does not reduce the Sum Assured.
This is a new feature from Aviva and complements hospitalization coverage be it if you currently have one.
|1. Heart||12. Pituitary gland|
|2. Liver||13. Small intestine|
|3. Lung||14. Testis|
|4. Pancreas||15. Breast|
|5. Pericardium||16. Ovary|
|6. Ureter||17. Penis|
|7. Adrenal Gland||18. Uterus (cover endometrial polyps only)|
|8. Bone||19. Nasopharyngeal|
|9. Conjunctiva||20. Oesophagus|
|10. Kidney||21. Oral Cavity|
|11. Nerve in cranium or spine||22. Gallbladder|
Single Pay Lump Sum Payout
Maximum sum assured of maximum $250,000. Pays out of 100% of sum assured in the event of critical illness being diagnosed for any stage of the covered Critical Illnesses at the early, intermediate or severe stage. Plan will terminate thereafter.
Extensive Comprehensive CI List
Aside from the usual critical illness of Cancer, Heart Attack and Stroke, the list of CIs covered extends from the 37 CIs as defined by LIA.
Comprehensive Critical Illness Covered:
|1. Cancer and Carcinoma in-situ||26. Loss of Speech due to Neurological Disease and Permanent (or Temporary) Tracheostomy|
|2. Heart Attack of Specified Severity*||27. Major and Mild Burns|
|3. Cardiomyopathy||28. Major Organ / Bone Marrow Transplantation|
|4. Specified Surgical Procedures of the Cardiovascular System||29. Multiple Sclerosis|
|5. Stroke*||30. Muscular Dystrophy|
|6. Specified Surgical Procedures of Central Nervous System||31. Viral Encephalitis|
|7. Coronary Artery By-pass Surgery and Other Specified Cardiac Procedures||32. Parkinson’s Disease|
|8. Nephrectomy||33. Surgery to Aorta|
|9. Kidney Failure or Chronic Kidney Disease||34. Alzheimer’s Disease / Dementia|
|10. Aplastic Anaemia*||35. Motor Neurone Disease|
|11. Reversible Aplastic Anaemia and Myelodysplastic Syndrome or Myelofibrosis||36. Pulmonary Hypertension|
|12. Blindness (Loss of Sight) or Optic Nerve Atrophy with Low Vision||37. HIV due to Blood Transfusion, Assault, Organ Transplant & Occupationally Acquired HIV|
|13. Severe Asthma||38. Benign Brain Tumor*|
|14. Surgical Removal of One Lung||39. Bacterial Meningitis|
|15. End Stage Lung Disease*||40. Facial Re-constructive Surgery|
|16. End Stage Liver Failure*||41. Cervical Spinal Cord Injury|
|17. Liver Surgery||42. Major Head Trauma*|
|18. Liver Cirrhosis||43. Systemic Lupus Erythematosus|
|19. Coma||44. Paralysis (Loss of Use of Limbs)*|
|20. Severe Epilepsy||45. Terminal Illness*|
|21. Deafness (Loss of Hearing)*||46. Progressive Scleroderma|
|22. Partial Loss of Hearing||47. Apallic Syndrome*|
|23. Cochlear Implant Surgery||49. Poliomyelitis*|
|24. Heart Valve Surgery||50. Loss of Independent Existence*|
|25. Loss of Speech*||51. Fulminant Viral Hepatitis|
As this is a standalone CI (Critical Illness) coverage, there will be a benefit of $5000 to be paid out in the event of death, regardless of the sum assured.
What We Like About Singlife with Aviva’s My Early Critical Illness II
- Juvenile Benefits one of the most and comprehensive in the market
- Extensive list of Critical Illnesses ranging from early to intermediate to advanced stage
- Benign Tumour Benefit & ICU Benefit complements hospitalisation plan, helping you in times of need financially
- Receive coverage up to age 99.
- Premium rates remain the same throughout the policy term.
- Premium term and coverage is very
- Claim up to 6 times for different medical conditions covered under Special Benefit.
- Special Benefit (18 conditions)
- Additional payout of 20% capped at $25,000 of the Critical Illness Benefit sum assured for selected medical conditions without compromising the Critical Illness Benefit or Death Benefit.
What We Don’t Like About Singlife with Aviva’s My Early Critical Illness II Plan
- Low Death Benefit of $5,000
Singlife with Aviva’s MyEarly Critical Illness is suitable for you if you would like:
- High Payout that covers Critical Illness of all stages including Early to intermediate to advance stage.
- Highly Competitive Premiums
- Standalone Critical Illness plans that cover for a specific period of time, increasing the coverage protecting your prime working age when you need it the most
- Comprehensive Critical Illness coverage with good ICU and Benign Tumour Benefits
It would however be less suitable if:
- You are looking for a high death protection cover.
- You are looking for multiple payouts for critical illness of all stages.
- You would like cash value in a protection plan.
- You are looking for a long term whole life insurance.
- You are looking at an endowment that covers for children education/ savings
Conclusion For Singlife with Aviva MyEarly Critical Illness II
Critical Illness coverage is one of the most important coverage protection one can get for themselves, as well as for their kids. It is a form of Income protection for both the parents and children, as the coverage allows the parents to take a hiatus from their daily work to free themselves from the job commitment for the time being and focus on recuperating for themselves, or to accompany their children in this journey of treatment.
Early CI plans protect the parents or caregiver’s income in the event of CI occurring to children, so they can afford to pause working (or step down role) to focus on taking care of the kids without worrying (too much) on income and expenditure.
Aviva has been one of the more competitive insurer when it comes to critical illness coverage and multiple pay CI plans, as well as whole life and term insurance. This standalone CI plan is also available as a rider for the whole life and term plan.
When it comes to the suitability of coverage for you and your child, it is always advised to have a look around and compare across the different competitive insurers.
To find the most suitably plan based on your concerns and needs, simply fill in the form below and our friendly partnered licensed FA advisor will get in touch with you.
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