AXA Mum’s Advantage Maternity Insurance Plan

AXA Mum’s Advantage Maternity Insurance Plan
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Last Updated on by Tree of Wealth

The AXA Mum’s Advantage is a bundled maternity coverage consisting of a 3 or 6 year MumCare and an Investment-Linked policy (ILP), the FlexiProtector. Maternity benefit includes death benefit for mother, 10 pregnancy complications and 18 congenital illnesses. Hospital Care Benefits like daily payouts if mother or child is hospitalised (up to 30 days) due to pregnancy complications and congenital illnesses. Most maternity plans only covers for 3 years, but Axa provides you with a choice of 3 or  6 years of maternity coverage. IVF pregnancy is covered for, albeit with loading (additional premium).

Key Benefits At a Glance

Combination of investment and medical protection

AXA mums advantage is a 2 package plan that offers financial security and reassuring health for the expectant mother and the baby while still in the womb. The coverage can commence from 16 weeks into pregnancy. The maternity plan is a combination of a 3 or 6 years maternity plan (single Premium) and an Investment-Linked policy (ILP).

Mum’s Advantage two plan bundle:

  • MumCare – Covering 18 Congenital Illnesses and 10 pregnancy complications.
  • INSPIRE Flexi Protector – an ILP that includes Critical Illness rider
  • Option to Transfer – Transfer the Flexi Protector policy to the child without underwriting within 60 days from birth of child, with a maximum sum assured of $200, 000.

Benefit Schedule

  • Pregnancy compilations: A fixed sum
  • Hospital daily care mother benefits: Daily income
  • Death of mother: Fixed amount
  • Congenital illness of a child: A fixed sum
  • Hospital care benefits of a child: Daily income.

The option of a 3-year or 6-year coverage term

Benefit/plan Terms Death(mother) Pregnancy compilations
3years S$5,000 S$5000
Congenital; illness(child) Hospital care (Mother) Hospital care (child)
S$5000 S$100 payable per day S$100 payable per day

 

Benefit/plan Terms Death(mother) Pregnancy compilations
6 years S$15,000 S$12,000
Congenital; illness(child) Hospital care (Mother) Hospital care (child)
S$12,000 S$200 payable per day S$200 payable per day

What We Like About The Plan

  1. Twins through IVF – If the mother is carrying more than one fetus in the pregnancy, MumCare or MumCare Plus policy will apply. Each baby would require individually an INSPIRE Flexiprotector.
  2. Option to Transfer – After the baby is born, a notification will be sent to the company of the birth of the child in 60 days. The information should be sent from the day the child is born. The mother can decide to transfer INSPIRE Flexiprotector to the child. It can go up to the assurance sum of $200,000 with no underwriting.

Why Option to Transfer is Important

In the event the child or mother encounters any new conditions during/because of labour, the mother has the choice to transfer the coverage to the child whom may now be unable to get any new coverage growing up.

  1. Pregnancy compilations benefits – It can be paid once upon the date of the child’s birth. However, there are exemptions such as Postpartum Hemorrhage that require Hysterectomy. The latter takes place for 30 days from the date of childbirth. Other benefits from MumCare or MumCare Plus can take place subject to the conditions in the product summary list.

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Important

  • Inherent illness benefits – The payments take place once. In case the mother is carrying more than one fetus, the coverage will apply to each baby.
  • A mother who conceives through Vitro fertilization (IVF) will be under the coverage of more premium loadings.
  • Hospital care benefit – Will take place in a maximum of 30 days and provide the cover of both the child and mother.
  • AXA Mum’s Advantage will entail an augmented Critical illness rider. It will be a sum of the assured similar to the guaranteed amount of INSPIRE Flexiprotector. The assured sum is less than or equivalent to S$ 200,000. The mother has to send a notification of the transfer policy within 60 days from the date of childbirth.
  • The payments of the benefit can take place if the mother dies before or during childbirth. It can also take place within 30 days from the birth of the baby.
  • While most insurer coupled the choice of bundling with endowment or whole life insurance, AXA only bundled with an ILP.

You may be interested: Best Whole Life Plans Singapore 2020 – The Ultimate Guide

Before You Enroll

  • Eligibility– Suitable for a mother who is expecting. They should be in their 16-36 weeks of pregnancy.
  • Entry age– Enrollees should be between 18 and 45 years to enjoy AXA mums’ advantage coverage.
  • Policy transfer – Takes place within 60 days of the childbirth — an assured sum of up to S$ 200,000.

18 Types of Congenital Illnesses Covered

  • Anal Atresia
  • Congenital Cataract
  • Congenital Deafness
  • Congenital Diaphragmatic Hernia
  • Infantile Hydrocephalus
  • Tetralogy of Fallot
  • Transposition of the Great Vessel
  • Truncus Arteriosis
  • Atrial Septal Defect
  • Ventricular Septal Defect
  • Down’s Syndrome
  • Spina Bi_da
  • Absence of Two Limbs
  • Cleft Palate/Cleft Lip
  • Cerebral Palsy
  • Club Foot
  • Congenital Dislocation of Hip
  • Retinopathy of Prematurity

10 Types of Pregnancy Complications

  • Still Birth
  • Pre-Eclampsia or Eclampsia
  • Abruptio Placentae
  • Placenta Increta/Percreta
  • Amniotic Fluid Embolism
  • Fatty Liver of Pregnancy
  • Disseminated Intravascular Coagulation
  • Postpartum Haemorrhage requiring Hysterectomy
  • Uterine Rupture
  • HELLP Syndrome (Haemolysis, elevated liver enzymes, low platelet count)

Conclusion

The AXA Mum’s Advantage is a 3 or 6 years Maternity plan bundled with an ILP FlexiProtector. The Option to Transfer feature helps to give a choice to transfer the FlexiProtector protection to the baby should the need arise. This is particularly crucial as it forms a safety net protection.

All Maternity Plans have their pros and cons and we strongly recommend that you consider your options wisely.

To do that, let our experienced advisors help you find the most suitable plan!

Fill in the form below and our friendly licensed FA advisor will get in touch with you based on your needs.

No obligations, no hidden fees. All advice are of no charges.

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