MediShield Life and Private Integrated Shield Plans (IPs)
The Singapore government mandates universal coverage via MediShield Life. Targeted at large hospital bills, the scheme incorporates a deductible amount of between $1,500 (for Class C wards) and $2,000 (for Class B2 wards and above) as well as a co-insurance portion of between 3% and 10%. Coverage is pegged to subsidised bills incurred by Singaporean Citizens at Class B2/C wards and subsidised outpatient treatments/ day surgery at public hospitals.
Beyond this, you can choose to purchase an IP to extend this coverage to private hospitals or at higher class wards in public hospitals.
For example, the AIA HealthShield Gold Max provides additional insurance coverage at private hospitals or Class A/B1 wards in public hospitals. It also offers an optional AIA Max Essential rider that covers your bills from the first dollar, by paying for the co-insurance and deductible portions of your medical bill.
Critical illness policies pay out a lump sum to policyholders when the person is diagnosed with an illness covered by the policy. AIA Power Critical Cover supports you extensively through the unpredictable event of multiple critical illnesses, from the pre-early stages to relapses.
This plan also covers you for 10 conditions under the Pre-Early Benefit, namely chronic diseases, cardiovascular diseases, and benign and borderline malignant tumours, so you’re better equipped to nip the signs of early critical illnesses in the bud.
Boosted with first-in-market features, high coverage and value-added medical services, AIA Power Critical Cover minimises the financial disruption to you and your loved ones while you focus on rest and recovery.
Disability income insurance pays a fixed amount each month to replace any loss in income if you are unable to work as a result of an accident or illness.
Private disability plans such as the AIA Premier Disability Cover covers up to 75% of your existing salary up to the age of 65, or until you make a full recovery. Even if you were to find work subsequently, this policy will continue providing supplementary cover to make up for any shortfall in income as a result of your disability.