Life insured can now have coverage amount fully restored after 12 months and make multiple claims for all stages of critical illnesses up to 300% of coverage amount with AIA Triple Critical Cover
Singapore, 18 August 2016 – More than 9 in 10 (94%) find it challenging to purchase another Critical Illness (CI) plan following a CI diagnosis, even though more than 2 in 5 (41%) are looking to purchase another CI insurance plan, revealed in the AIA Health Matters Survey 2016 released by AIA Singapore.
Accordingly, as part of AIA Singapore's 85th anniversary celebration, the company today launched AIA Triple Critical Cover, a CI plan with a 'Power Reset' feature which fully restores the critical illness coverage amount to 100% after 12 months have passed from the previous claim. This is the first time in the market such a feature is offered for all stages of CI, even for early stage CI.
Complementing this, the life insured can make multiple claims for 104 critical illness conditions across all stages - early, intermediate and major - for up to 300% of coverage amount1.
Additionally, the AIA Triple Critical Cover Life plan offers guaranteed cash value. The life insured may choose to hold the plan to maturity at age 100 or discontinue their plan after age 75 or on the 60th policy anniversary, whichever is earlier, and receive cash value even if they do not make a CI claim.
"In Singapore today, the average sum assured from critical illness plans will cover us less than halfway through the treatment time required before the condition stabilises, an important gap that needs to be bridged. AIA Singapore is filling this gap with AIA Triple Critical Cover which is inspired by and supports resilient Singaporeans who celebrate life and simply don't believe in giving up.
"3 in 4, when diagnosed with a critical illness, stop working partially or fully, found our study. No matter what happens, they want to focus on recovering, and more importantly, come back stronger to continue building a future for themselves and their families. It is this enduring resilience that we seek to emulate with AIA Triple Critical Cover. AIA Singapore will continue protecting Singaporeans even after they have made a critical illness claim1 so that they can look to their future with confidence. This is AIA Singapore's promise to customers for them to lead healthier, happier, better lives with their families," said Ms Ho Lee Yen, Chief Marketing Officer of AIA Singapore.
1Maximum claim limits apply and subsequent claims have to be for a different condition from the earlier claim(s).