AIA Singapore (AIA) has launched AIA Protect 3, a critical illness (CI) plan covering cancer, heart attack and stroke.
Launching as an exclusive offering for all AIA policyholders – whether insured through a personal or corporate insurance plan, as well as their spouses and children, the plan provides multi-stage coverage for cancer, heart attack and stroke – from early to major stage.
Protection is available up to age 85 and cashback of 25% is included if no claims are made at insured’s 65th birthday or after 15 years, whichever is later.
The plan also aims to make CI protection more affordable with premiums starting from S$0.56 per day, and the option of switching to level premiums – where premium amounts remain fixed and constant – from age 70.
The starter personal CI plan provides coverage for Singapore’s workforce to complement their corporate CI cover especially as they may face major disruptions to their income, daily routines and family responsibilities in the event of a critical illness.
It also aims to strengthen protection for higher risk conditions, especially given the gender-specific benefit of the plan.
Key features and Vitality integration
Key features of the plan include multi-stage coverage for cancer, heart attack and stroke, from early to major stages, coverage for gender-specific cancers from the third policy year onwards (e.g. prostate and testicle cancer for males, breast and ovary cancer for females), and protection up to age 85.
The plan also offers customers 25% cashback on premiums from age 65 or entry age plus 15 years if claim-free.
Premiums start from $0.56 per day, with the flexibility to switch to level premiums from age 70, and a simplified sign-up by answering four questions, which does not require medical checks, providing greater access and convenience.
The plan also aims to encourage better health with the option to add AIA Vitality to the plan.
Customers who purchase Protect 3 and sign up for the Vitality benefit from a one-time engagement booster at 5% of the first gross annualised premium back in Vitality coins when they complete one weekly fitness challenge within 100 days from policy issue date.
They alo receive an annual insurance booster of up to 15% of the previous year’s gross annualised premium back in Vitality coins from the second policy year, based on Vitality status.
Vitality coins can be redeemed for eVouchers from a range of lifestyle brands in the insurer’s app while engagement rewards range from discounts on gym membership to fitness devices to movies.
Irma Hadikusuma, chief marketing and healthcare officer of AIA Singapore, said: “Critical illness can affect anyone, often when it is least expected, bringing emotional and financial strain to families.
“As we mark 95 years in Singapore, AIA Protect 3 reflects our commitment to our customers.
“By providing this plan for our individual and corporate customers and their families, we are ensuring that those who have grown with us have the first and most seamless access to affordable, relevant critical illness protection.”
