The policy provides comprehensive support beyond pay-outs which includes coverage for recurring CI, and 100 per cent Refund of Premium (ROP) benefit; the biggest draw of a CI plan for 7 in 10 Singaporeans surveyed
Singapore, 24 January 2019 – AIA Singapore today marked another milestone as part of its centennial celebrations by unveiling the much-lauded AIA Beyond Critical Care regular premium, non-participating CI plan that finally introduces Singapore's first-ever insurance policy to provide coverage for mental conditions. The plan also stands out for including coverage for five1 rediagnosed or recurred CIs which are amongst the leading cause of death and top disease burdens in Singapore.
AIA Beyond Critical Care provides up to 200 per cent coverage for 43 Major Stage CI and five rediagnosed or recurred CI. The policy also provides 100 per cent premium refund at the end of the policy term2 for policyholders who remain in pink of health. In fact, 7 in 10 Singaporeans identify premium refunds as the most attractive feature when selecting a CI plan3.
The new policy was launched amongst invited guests who learned more about the gaps that exist when it comes to CI coverage and support in Singapore through an innovative Escape Room educational game.
"AIA Beyond Critical Care fills the gaps in protection, providing comprehensive coverage for previously unprotected areas and supports the insured through their life journey. Importantly, we want to ensure that this plan is accessible so that more Singaporeans can get adequate CI coverage and support to get through the challenges of being diagnosed with such a condition. AIA is celebrating our 100th birthday with more innovations to empower people to live a healthier, longer and better life," said Ms Ho Lee Yen, Chief Customer and Marketing Officer, AIA Singapore.
Challenging the status quo on typical CI plans, AIA Beyond Critical Care does not only look to provide pay-outs should a policyholder be diagnosed with a covered condition. Instead, with a commitment to be there for customers from the very start, the policy also offers benefits which:
- Help policyholders prevent the onset of CI conditions, where possible, with the award-winning AIA Vitality – the first in market comprehensive health and wellness programme.
- Provides access to independent, global expert medical advice through Medix4 (Personal Medical Case Management Service), should a policyholder be diagnosed with a CI condition, and
- AIA Critical Assist hotline for policyholders to seek expert advice from healthcare practitioners, and seek recommendations on reliable health, home, and care services.
This is in keeping with AIA Singapore's unwavering commitment to support individuals and families throughout their life journey, through good and challenging times.
Taking the lead in recognising the needs of Singaporeans
One in seven Singaporeans experienced a mental disorder in their lifetime5, compared to one in eight in 2010, with Major Depressive Disorder (MDD) and Obsessive Compulsive Disorder (OCD) amongst the top mental conditions that people are seeking help for.
To encourage timely and appropriate treatments of mental health conditions, AIA Beyond Critical Care provides coverage for five mental illnesses6, namely, Major Depressive Disorders (MDD), Schizophrenia, Bipolar Disorder, Obsessive Compulsive Disorder (OCD), and Tourette Syndrome.
Majority of people in Singapore, approximately 75 per cent, with a mental disorder in their lifetime, did not seek any professional help, according to the second Singapore Mental Health Study conducted in 2016 by the Institute of Mental Health (IMH) and Nanyang Technological University (NTU)7.
Allaying concerns and providing additional peace of mind for Singaporeans
In addition to providing coverage for 43 major stage CIs, AIA Beyond Critical Care is also the first-in-market to cover five rediagnosed or recurred CIs – which includes major cancer, stroke, heart attack, heart valve surgery, and major organ / bone marrow transplantation - providing up to 200 per cent of the Insured Amount for the CI benefit.
A top concern among many CI survivors is the recurrence of a CI, especially for cancer, which is most likely to relapse in the first five years after treatment ends8, according to several studies. This is further supported by the AIA Critical Illness Study 2018 findings, which revealed that approximately 7 in 10 Singaporeans find recurring CI coverage important and more than half are willing to pay a higher premium for recurring CI coverage.
"It's useful to have someone by your side when you're recovering from a CI. A lot of times, people feel lost when diagnosed with a serious illness like cancer and it helps to have a designated person to be around to provide support and professional advice, or even some insights to what can be done," Averyl Tan, 39 years old, an AIA Singapore customer.
Supporting customers beyond pay-outs and being your health partner from the start
AIA Beyond Critical Care gives customers access to AIA Singapore's comprehensive healthcare proposition, providing personalised support through services and wellness programmes such as:
- Preventive care with policy's health screening benefit9 and AIA Vitality, the first in market comprehensive health and wellness programme designed to encourage policyholders to live healthier with incentives and rewards for making healthy choices in their everyday lives.
With AIA Vitality, policyholders can enjoy up to 15% discount on future premiums10.
- Personal Medical Case Management Service by Medix11, for customers facing serious medical conditions by making sure they have the access to independent, global expert medical advice that will journey with them from diagnosis to recovery.
- AIA Critical Assist, a dedicated hotline service that provides access to healthcare practitioners who can provide expert advice, trusted recommendations and referrals to reliable health, as well as home and care services.
"In conjunction with the product launch, AIA Singapore piloted an escape game concept to take individuals through the customer journey and allow them to experience the feeling of helplessness a CI patient would feel – and that is the feeling we want to address and replace with a sense of hope and enablement through AIA Beyond Critical Care," said Ms Ho.
The launch of AIA Beyond Critical Care is part of the overarching centennial celebrations in 2019, focused on building our 100-year journey for the next hundred. Initiatives include the AIA Smart G3 – A 3-year single premium endowment plan, launch of Buddy and family-friendly games and, the AIA Centennial Fund that is dedicated to supporting education and children in need etc.