More than 9 in 10 (96%) agree CI protection from early to advanced stages is important or very important. This is because they want to be free of financial worries if they are diagnosed with CI (70%) and do not want to burden their family if they are diagnosed with a CI (59%).
The top 2 reasons for Singaporeans wanting to purchase an additional CI plan are that the CIs covered under their current plans are not comprehensive enough (53%), and that their coverage is only for major stage CI (40%) without protection for early and intermediate stages.
In response to this, AIA Triple Critical Cover provides coverage for 104 CI conditions through the early, intermediate and major stages. As compared to existing CI plans in the market that cover only major stage CI, AIA Triple Critical Cover provides more comprehensive coverage so that those diagnosed with CI not only recover but embrace life confidently as they look to the future.
Additionally, AIA Triple Critical Cover also provides coverage for 5 special conditions4 including osteoporosis and diabetic complications, for which AIA will pay out an additional 20% of coverage amount, up to S$25,000 per condition.
The plan also provides 100% of the coverage amount (less any critical illness claims paid) and $5,000 compassionate benefit in the unfortunate event of the life insured’s death.
4Coverage for special conditions applies only up to age 85
Taking charge of your health to reduce the risk of critical illness
Life insured of AIA Triple Critical Cover may also opt to sign up for the AIA Vitality programme which supports Singaporeans on their health journey and also acts as a preventive measure to help reduce their risk of contracting some CIs.
AIA Vitality is the first-in-market science-backed wellness programme in Singapore. It provides the knowledge, tools and motivation to encourage individuals to take small steps to achieve their personal health goals.
Those who opt to become AIA Vitality members will enjoy 10% discount on premiums of their AIA Triple Critical Care plan in the first year. They will also receive up to 15% discount on future years’ premiums as they get healthier and improve their AIA Vitality status.
AIA Singapore also recently enhanced the AIA Vitality benefits for its members, rewarding them with S$5 Cold Storage vouchers for exercising weekly. Other benefits include annual cashback for members achieving gold or platinum AIA Vitality status on the anniversary of their membership, discounts on items such as gym memberships, health screening packages and airfares as incentives and rewards for making healthier choices.
More about AIA Health Matters Survey 2016
AIA Health Matters Survey 2016 was conducted by Nielsen in the first half of 2016 to better understand Singaporeans’ perceptions and concerns on CI.
The study was conducted among 300 Singaporeans aged 30-55 years old, with monthly household income of $5,000 and above. Respondents were key or joint decision makers of personal life or health insurance products and owned a health, life or term insurance plan. Another 100 Singaporeans who are recovering or have recovered from CI were also surveyed.
Unless otherwise stated, all figures and percentages quoted in this release are from the AIA Health Matters Survey 2016.
About the AIA Group
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and representative offices in Myanmar and Cambodia.
The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$181 billion as of 31 May 2016.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 29 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).