AVIVA MyLongTermCare CareShield
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This product is managed by Aviva.
Summary
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.
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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
5.0
1 Reviews
1
Hi Joey, great that you upgraded. There's an app called PoliPocket that can do that for you. Have you heard of it before?
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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 |
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.
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.
The policy premium will be waived when the insured becomes unable to perform at least 1 ADL.
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.
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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