Aviva MyLongTermCare Plus is a CareShield Life supplementary plan that provides lifetime monthly disability benefits upon making a successful claim.
Aviva MyLongTermCare Plus starts payout upon disability to carry out 2 of 6 Activities of Daily Living (ADLs).
Aviva MyLongTermCare Plus product details
- Non-participating policy – Disability Income Insurance
- Coverage
- Receive monthly payouts from S$200 to S$5,000 upon disability to carry out 2 of 6 ADLs
- Lump Sum Benefit
- Receive a lump-sum amount of 3x the monthly disability benefit upon disability to carry out 3 of 6 ADLs
- Dependant Care Benefit
- Receive an additional 20% of your monthly disability benefit for up to 36 months if you have a child under 22 years old when making a claim
- Caregiver Relief Benefit
- Receive an additional 60% of your monthly disability benefit for up to 12 months along with the monthly disability benefit
- Death Benefit
- Receive 3x the monthly disability benefit if death were to happen while receiving the monthly disability benefit
- Premium Waivers
- Future premiums are waived upon disability to carry out 1 of 6 Activities of Daily Living
- MediSave Fundable
- Premiums can be paid with your MediSave up to $600 per month
The lower coverage version is Aviva MyLongTermCare
Read also: An Introduction To Disability Income Insurance Policies
Features of Aviva MyLongTermCare Plus at a glance
Cash and Cash Withdrawal Benefits
Cash value: No
Cash withdrawal benefits: No
Health and Insurance Coverage
Death: No (Yes if death occur whilst receiving disability benefit)
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No
Health and Insurance Coverage Multiplier
Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No
Optional Add-on Riders
NA
Additional Features and Benefits
Yes.
For further information and details, refer to Aviva website. Alternatively, fill-up the form below and let us advise accordingly.
Read Also: No budget for financial planning?
Read also: Guide on Retirement Planning in Singapore
Policy Illustration for Aviva MyLongTermCare Plus, Jerry
Jerry, age 35. purchases Aviva MyLongTermCare Plus to supplement his CareShield Life Plan to boost his disability care in the event he becomes disabled.
Jerry chooses an additional monthly benefit of S$1,000 with an annual premium of S$539.29. Both premiums and disability benefits are fixed.
At age 65, Jerry becomes disabled and is no longer able to perform 2 of 6 Activities of Daily Living. He begins receiving a lifetime of monthly disability benefit and all future premiums are waived.
With a total of S$16,178.70 paid in premiums, Jerry receives S$363,000 in disability benefit before passing away at age 95.
Is Aviva MyLongTermCare Plus suitable for me?
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