Best Diabetes Insurance Plans Singapore: AIA vs Singlife with Aviva Comparison

Last Updated on February 23, 2023 by Tree of Wealth

Diabetes is a serious problem in Singapore. The Ministry of Health declared war on diabetes in 2016 and since then, we’ve heard repeated calls from the government to choose brown rice over white, exercise more, and go for pre-diabetes testing.

These measures aren’t without good reason. In the 2017 National Day Rally, PM Lee said that 1 in 9 Singaporeans has diabetes. The disease is worse among older people. 3 in 10 over the age of 60 has diabetes. The problem is made worse when you consider that diabetes is also linked with other diseases such as high cholesterol and high blood pressure.

What kind of diabetes insurance plans can you or your family member get? You may also be wondering if you can get a plan even with existing conditions like diabetes, high blood pressure, high cholesterol and high Body Mass Index (BMI).

Insurance plans that cover for diabetes are usually critical illness plans. But the breadth of coverage and premiums differ. We explain what each plan offers and help you do a comparison between top diabetes insurance plans from AIA and Aviva.

Comparison of Diabetes Insurance Plans: Singlife Essential Critical Illness vs AIA

	Singlife Essential Critical Illness	AIA Diabetes Care
Coverage term	Minimum of 15 years term, maximum age 85	Coverage until age 80, no other choices
Total Covered Critical Illnesses	14 conditions: Major Cancers Heart Attack of Specified Severity Stroke Blindness (Loss of Sight) Coronary Artery By-pass Surgery End Stage Kidney Failure Other Serious Coronary Artery Disease End Stage Lung Disease Irreversible Loss of Speech Major Burns Deafness (Irreversible Loss of Hearing) *New* Major Head Trauma *New* Severe Bacterial Meningitis *New* Angioplasty & Other Invasive Treatment For Coronary Artery	5 conditions (must be diabetes-related): Blindness Coronary Artery Bypass Surgery Heart Attack of Specified Severity Kidney Failure Stroke *Add-on cancer cover available
No Claim Payout	20% of total premium paid after end of policy term	N/A
Diabetic Conditions Covered	Diabetic Conditions Covered	Blindness, coronary artery bypass surgery, heart attack of specific severity, kidney failure and stroke. Full coverage amount or 110% of the total annual premiums paid, whichever is higher.
Special Conditions Covered	N/A	20% of sum assured payable upon amputation of limbs (feet and hand above ankle & wrist)
Death/ Disability Coverage	Full sum assured	N/A
Entry Age	Age 25 Next Birthday	Age 30
Last Entry Age	Age 65 Next Birthday	Age 65
Age 65	Yes	No
Diabetic Diagnosis Below Age 25	Not covered	Not covered
Type 1 Patient	Not covered	Not covered
Premium Loading	Premium varies depending on sugar level, high blodd level, BMI, Cholesterol and Triglycerides Level	Premium varies depending on sugar level, high blood leve, BMI, cholesterol and Triglycerides Level
Max Sum Assured	500,000	250,000

Singlife with Aviva Diabetes Insurance Plan: Singlife Essential Critical Illness

Singlife Essential Critical Illness is a critical illness plan that promises to cover against all major critical illnesses, diabetic conditions, total and permanent disability, terminal illness and death.

Specifically, it covers for the 4 Highs:

• Diabetes Type 2
• High Cholesterol
• High Blood (Hypertension)
• High BMI (Obese)

However, take note of the restrictions. It is not coverable for Type 1 Diabetes. The minimum entry age is 25, and Type 2 diabetes diagnosed before the age of 25 is also not covered.

The minimum policy term is 15 years while the maximum is until 85 years. Considering the minimum entry age of 25, the maximum policy term is 60 years. It’s therefore a long-term savings protection plan.

Singlife Essential Critical Illness Highlights:

• Maximum sum assured: $500,000. Lump-sum payout upon diagnosis of major critical illnesses (CI), total and permanent disability (TPD), terminal illness or death.
• Extra protection for diabetic complication: Get additional 20% sum assured if you are diagnosed with any one of the four diabetic conditions (coma due to hyperosmola hyperglycemic state, diabetic ketoacidosis, diabetic nephropathy and limb amputation due to diabetic complications)
• Early payout upon Angioplasty & other invasive treatments for Coronary Artery: Advance lump-sum payout of 10% of sum assured, up to $25,000.
• No claims payout: 20% of total premiums paid back at the end of the policy term if no claim is made.

Find Out More About Singlife Essential Critical Illness Premium:

AIA Diabetes Care

AIA Diabetes Care is easy to buy as you just need to answer five simple questions. It protects you against Type 2 Diabetes and pre-diabetes, but not Type 1 Diabetes. If you got diagnosed with Type 2 Diabetes before the age of 25, you also do not qualify.

The plan includes coverage for five key diabetes-related conditions: blindness, coronary artery bypass surgery, heart attack of specific severity, kidney failure and stroke. In the event of the above conditions, you receive full coverage amount or 110% of the total annual premiums paid, whichever is higher.

To be eligible for AIA Diabetes Care, you need to be a non-smoker, diagnosed after age 25 and have no pre-existing diabetes-related complications. The payout is lump sum and once only (provided no payout for critical illness benefit).

The entry age is 30 years to 65 years old. The great thing about this plan is that the premiums remain the same throughout the whole policy up to age 80.

AIA Diabetes Care Highlights:

• Maximum payout: $250, 000
• Extra payout for special conditions: 20% payout for limb amputation as a result of diabetes-related complication
• Add-on cancer cover available: Optional cancer cover upon diagnosis of early or intermediate stage cancer, you get 20% payout of coverage amount.
• Entry to AIA Vitality: You get to earn AIA Vitality points. Existing AIA Vitality members enjoy up to 15% discount on future premiums.

Find Out More About AIA Diabetes Care Premium:

Verdict: Which diabetes insurance plan should you get?

As you can see, the three different plans highlighted in this article have different strong points.

However, if you have Type 2 diabetes, you should consider whether you want diabetic complication coverage. If so, Singlife with Aviva and AIA offer better plans. For instance, amputation is sometimes necessary if wounds or ulcer on the skin of lower limbs do not heal as a result of reduced blood flow, a diabetic complication. Singlife with Aviva and AIA plans offer 20% of sum assured as payout in the event of that.

But if you want something holistic and covers all bases, Singlife Essential Critical Illness offers TPD and death coverage and also 14 other critical illnesses, making it the most comprehensive plan here. With a wider coverage, the premium is also higher than AIA’s Diabetes Care, which is primarily focused on providing coverage for diabetes. So, you need to balance affordability vs complete coverage.

Objective	Best Plan
Customer who wants diabetic complication coverage	AIA
Customer who wants holistic coverage of critical illness and not just diabetic coverage	Singlife with Aviva
Customer who wants TPD and Death Coverage	Singlife with Aviva
Customer who are below age 40	Singlife with Aviva, AIA

Type 1 vs Type 2 Diabetes

What the difference between Type 1 and Type 2 diabetes? Basically, people with Type 1 Diabetes tend to be born with it. There is usually no prevention and the cause is unknown. Type 2 Diabetes can be prevented by a healthy lifestyle. Here’s a summary table:

	Type 1 Diabetes	Type 2 Diabetes
Risk factors	Genes and environmental factor; cannot be prevented	Genes, lifestyle choices and being overweight; can be prevented by an active lifestyle and a healthy diet
Insulin production	Immune system attacks beta cells in the pancreas, so it can no longer product insulin	Pancreas no longer produces enough insulin, or the body is resistant to it. So there is still some insulin
Treatment	Insulin injections and constant glucose monitoring	Lifestyle changes such as healthy eating, exercise, or medication

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