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AVIVA MyLongTermCare CareShield

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Disability Insurance/AVIVA MyLongTermCare CareShield
Disability Insurance/AVIVA MyLongTermCare CareShield
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Plans (2)

Aviva MyLongTermCare Careshield Plus

$5,000

MAX MONTHLY BENEFIT

Unable to perform ≥ 2 ADLs

MONTHLY PAYOUT CRITERIA

300% of monthly benefit

MAX LUMP SUM PAYOUT

Unable to perform ≥ 2 ADLs

LUMP SUM PAYOUT CRITERIA

Aviva MyLongTermCare Careshield

$5,000

MAX MONTHLY BENEFIT

Unable to perform ≥ 3 ADLs

MONTHLY PAYOUT CRITERIA

300% of monthly benefit

MAX LUMP SUM PAYOUT

Unable to perform ≥ 3 ADLs

LUMP SUM PAYOUT CRITERIA

Aviva MyLongTermCare Careshield Plus

$5,000

MAX MONTHLY BENEFIT

Unable to perform ≥ 2 ADLs

MONTHLY PAYOUT CRITERIA

300% of monthly benefit

MAX LUMP SUM PAYOUT

Unable to perform ≥ 2 ADLs

LUMP SUM PAYOUT CRITERIA

Details

AVIVA CareShield MyLongTermCare Review 2021

AVIVA's MyLongTermCare is an additional comprehensive coverage of disability insurance to help in the event of loss of income or long-term care costs due to disability, on top of the regular CareShield or ElderShield.

  • AVIVA CareShield has 2 plans - MyLongTermCare and MyLongTermCare Plus.
  • AVIVA CareShield plans provide a lifetime monthly payout of $200 to $5,000 on top of CareShield Life's payout. The criteria for the monthly payout is upon the inability to perform 3 or 2 ADL depending on the tier of the plan.
  • You can choose to have your monthly payouts fixed or increasing at 2%-3% p.a.
  • MyLongTermCare will pay a one-time lump-sum payout worth 3x the monthly benefit when the assured is considered severely disabled (inability to perform 3 ADL) AND when death occurs.
  • Additionally, premiums will be waived as long as 1 ADL cannot be performed.
  • Apart from the usual coverages, AVIVA also offers many other benefits like dependant care benefit, rehabilitation benefit and caregiver benefit.
  • MediSave can be used to help offset some of the premium amount
  • ADL = Activities of Daily Living
Read More about AVIVA MyLongTermCare CareShield
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      AVIVA MyLongTermCare CareShield Insurance Coverage Summary

      Benefit Coverage

      MyLongTermCare

      MyLongTermCare Plus

      Severe Disability definition

      Inability to perform at least 3 out of 6 ADL

      Inability to perform at least 2 out of 6 ADL

      Monthly benefit duration

      Lifetime

      Lifetime

      Monthly Benefit Amount

      S$200 to S$5,000 per month (in increments of S$100) on top of CareShield Life’s payout

      S$200 to S$5,000 per month (in increments of S$100) on top of CareShield Life’s payout

      Availability of increasing payouts

      Choice of fixed payouts or increasing payouts at a fixed rate of 2% or 3% p.a.

      Choice of fixed payouts or increasing payouts at a fixed rate of 2% or 3% p.a.

      Policy Term

      Lifetime

      Lifetime

      Waiver of Premium

      When you're unable to perform at least 1 ADL

      Eligible

      Eligible

      Lump Sum Benefit

      when you're severely disabled (criteria set by the type of plan you choose)

      A one-time benefit that is 3 times of your first monthly benefit

      A one-time benefit that is 3 times of your first monthly benefit

      Rehabilitation Benefit 

      When your condition improves but you're still unable to perform 2 ADL

      50% of your last monthly benefit, for as long as you’re unable to perform 2 ADL

      nil

      Dependant Care Benefit 

      When you’re receiving the monthly benefit or Rehabilitation Benefit and have a child 22 ANB and below at the point of claim

      An additional 20% of your monthly benefit, for up to 36 months

      An additional 20% of your monthly benefit, for up to 36 months

      Caregiver Relief Benefit 

      When you're receiving the monthly benefit or Rehabilitation Benefit

      An additional 60% of your monthly benefit for up to 12 months

      An additional 60% of your monthly benefit for up to 12 months

      Death Benefit

      One-off payout of 3 times of your last paid monthly benefit or Rehabilitation Benefit

      One-off payout of 3 times of your last paid monthly benefit or Rehabilitation Benefit

      AVIVA CareShield Disability Health Insurance Coverage Summary

      Features of AVIVA MyLongTermCare

      • To be eligible for the monthly payout, policyholders have to be medically considered 'severely disabled' via the ability to perform Actions of Daily Living (ADL).
      • For MyLongTermCare the criteria is the inability to perform 3 ADL whereas for MyLongTermCare Plus, the criteria is the inability to perform just 2 ADL.
      • The monthly benefit amount is selectable from S$200 to S$5,000 per month, on top of the CareShield Life payout.
      • You can choose fixed payouts or increasing payouts at a fixed rate of 2% or 3% p.a. until the end of the premium term, or when a claim is made, whichever is earlier.
      • Premiums of up to S$600 per calendar year per Life Assured can be paid using MediSave
      • MyLongTermCare also has other benefits like Rehabilitation benefit, Dependant Care benefit, Caregiver Relief benefit but these benefits have their own set of criteria stated above.

      Activities of Daily Living (ADL)

      ADL refers to ‘Activities of Daily Living’ or basic self-care tasks which is a measure of how physically independent a person is. Activity of Daily Living encompasses washing, toileting, dressing, feeding, walking or moving around and transferring.

      Premiums for AVIVA CareShield MyLongTermCare

      Premium Payment Term

      The premiums for MyLongTermCare are payable on an annual basis. Premiums do not increase with age if you choose the Fixed payouts option. However, Premiums will increase accordingly if you choose the 2-3% increase in monthly payout
      Depending on your entry age (at last birthday), the selectable premium terms are as follows:

      a. Pay up to the policy anniversary after your 97th birthday (98 Age Next Birthday (98 ANB))

      b. Pay for a limited period:

          • up to the policy anniversary after your 67th birthday (68 ANB) or
          • for 20 years from entry age (for those who join at 49 ANB and above), whichever is later.
          Note: Premiums will increase at 2% or 3% p.a., the same rate you choose for your increasing payout.

      Premium Waiver

      The policy premium will be waived when the insured becomes unable to perform at least 1 ADL.

      Premiums paid with MediSave

      Premiums can be paid by cash, your own MediSave funds, or the MediSave funds of your family members, up to a limit of S$600 per calendar year per insured person.

      Eligibility: Who can apply for AVIVA MyLongTermCare?

      • Citizenship Status: Singaporeans and Permanent Residents
      • To be an eligible buyer of AVIVA's CareShield, you must have the standard CareShield Life or ElderShield 300/ ElderShield 400.
      • Entry Age from 30

      Contact AVIVA

      • Click the "Visit Site" button above to find out more
      • Tel: +65 6827 7988
      • Address: 4 Shenton Way, SGX Centre 2, #01-01, Singapore 068807

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.