Last Updated on by Tree of Wealth
Early detection of Critical Illnesses (CI) is essential due to their potential long-lasting detrimental effects on health, finances, and overall well-being. Sufficient coverage allows for prompt medical intervention, enabling you to concentrate on recuperating without the stress of financial strain. i-Care offers a holistic solution with its 360º protection plan, encompassing extensive CI coverage for 161 medical conditions, as well as coverage in the event of death and terminal illnesses. Secure the comprehensive care, financial safety, and tranquility you are entitled to.
In 2022, the typical death coverage amounted to 3.6 times the average yearly income of Singaporeans. Nonetheless, the Life Insurance Association (LIA) advises that protection coverage should equate to 10 times one’s annual income. This recommendation is to ensure all expenses related to death and total and permanent disability are covered, thereby alleviating the financial stress on the bereaved family members.
China Taiping i-Care Features At a Glance
Well Rounded Comprehensive 161 Medical Conditions Coverage
i-Care provides comprehensive protection against 161 medical conditions, with the following payout structure:
- For the 137 covered medical conditions, i-Care offers a complete payout of 100% of the assured sum upon diagnosis at any stage.
- There’s a 20% payout of the assured sum for 12 Special Conditions. Each condition can be claimed once per policy, with a cap of S$25,000 per life for each condition, considering all policies held with CTPIS. Claiming this Special Benefit won’t decrease the basic sum assured. Up to 5 claims per policy are permitted.
- Similarly, a 20% payout of the assured sum is available for 12 Juvenile Conditions, applicable until the policy anniversary when the insured person turns 19. Each Juvenile Condition can be claimed once per policy, with a limit of S$25,000 per life for each condition, inclusive of all insurance with CTPIS. This Juvenile Benefit also doesn’t reduce the basic sum assured and allows up to 5 claims per policy.
- Upon death, i-Care ensures a 100% payout of the assured sum.
3 Flexible Plan Options
i-Care provides flexible plan options to cater to diverse financial needs. You have the choice among three distinct plan types, each with varying policy terms. This flexibility allows you to select a plan that aligns best with your financial situation and coverage requirements.
|
Policy Term \ Sum Assured |
Plan 1 S$100,000 |
Plan 2 S$200,000 |
Plan 3 S$300,000 |
|
To-age-75 |
Yes | Yes | Yes |
|
To-age-85 |
Yes | Yes |
Yes |
| To-age-99 | Yes | Yes |
Yes |
Source: China Taiping
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Option to Convert
Secure your insurability while you’re healthy with i-Care’s convertibility feature. This option allows you to transition your i-Care plan to another one of our life insurance policies without the need for additional medical underwriting, adapting to your changing financial needs over time.
The policy owner has the flexibility to convert their i-Care policy into a new endowment, whole-life, or investment-linked policy, either with or without Critical Illness (CI) benefit. This is contingent on the options China Taiping offers at the time of conversion. Importantly, this can be done without the need to provide additional proof of the life insured’s insurability. Please note, this option is subject to the specific Terms & Conditions set by China Taiping.
Upgraded Coverage
i-Care offers enhanced protection through optional premium waiver riders. This ensures that your policy remains active and continues to provide coverage, even in the unfortunate event of an incident affecting the payer or the payer’s spouse.
How China Taiping i-Care Works
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Wrapping Up China Taiping i-Care Review
Embark on a journey of financial security and peace of mind with i-Care. The plan’s diverse plan options, flexible convertibility feature, and enhanced protection with optional premium waiver riders are all designed to cater to your unique needs. Whether you’re safeguarding against critical illnesses, ensuring continuity in unforeseen circumstances, or adapting your coverage to match life’s changing tides, i-Care stands as a robust ally in your financial health journey. Secure your future today and enjoy the tranquility that comes with comprehensive, tailored insurance solutions.
Ready to take the next step towards financial security? Our expert financial advisors are here to guide you. With personalized advice tailored to your unique needs, we can help you navigate the options and find the perfect fit with i-Care. Don’t wait for uncertainty to knock; plan ahead and ensure your peace of mind. Contact us now for a consultation and embark on a path to financial wellbeing.
