Review – Singlife Multipay Critical Illness Is Packed With Features

Singlife Multipay Critical Illness, Singlife Comprehensive Critical Illness
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Last Updated on by Tree of Wealth

Singlife Multipay Critical Illness came at a time where the new Critical Illness (CI) definition has been updated in accordance to the new LIA CI Framework. It is Aviva’s answer to align with the new 2019 CI definitions, along with some major changes to the popular multi-payout structure they started with the original My MultiPay Critical Illness plan a few years ago.

Also along with the Singlife Multipay Critical Illness plan, Singlife Aviva also realised the single payout Critical Illness plan (covering early to advance stage CI), the Singlife Comprehensive Critical Illness. This is also in line with the 2019 CI Definitons.

The previous My MultiPay Critical Illness III is a competitive CI plan and was certainly the best valued in terms of premiums competitiveness and payout amount. It was unmatched and in this new version, we will see some missing features which may or may not necessary be a bad thing.

Let’s read on to find out.

 Benefit At A Glance: MultiPay & Single Pay

My MultiPay Critical Illness IV & My Early Critical Illness II
Source: Singlife with Aviva

Main Changes Between My MultiPay Critical Illness Plan IV & Plan III 

Singlife Multipay Critical Illness is structured differently as the previous Plan III. Critical Illness (CI) groupings are now more, total payout is now up to 900%, higher than the previous 600%. Total CI conditions are now 132, up from the previous 102 conditions.

Benefits Singlife Multipay Critical Illness (NEW!) My MultiPay Critical Illness Plan III (withdrawn)
Total payout for critical illnesses up to 900% of Sum Assured

 

up to 600% of Sum Assured
Total number of conditions covered across early, intermediate and severe stage critical illnesses 132 102
Number of recurrent critical illnesses covered 6 3
Number of conditions covered under Special Benefit 27 24
Waiver of Premium Yes

when 300% of the Sum Assured or more is paid under the Critical Illness Benefit

Yes

upon Severe Stage CI claim

New benefits

– Intensive Care Benefit, Benign and Borderline Malignant Tumour Benefit

Yes N.A.
New feature

– Advance Care Option

Yes N.A.

Source: Aviva

Main Change 1 – No More “No Waiting Period” Between Different CI Groups For Early/Intermediate CI Payouts

Previously in the MultiPay CI Plan III, one of the main feature was that there is no waiting period for early stage CI to another group of early stage CI.

Main Change 2 – One Year Waiting Period

For the MultiPay CI Plan IV however, there is now a One Year Waiting Period For Different Early/Intermediate Stage CI Payout. Total payout can also be a maximum of 6 early/intermediate stage CI claims, at 100% each claim of early/intermediate stage CI with a year of waiting period in between claims.

Main Change 3 – No Grouping of 3 Critical Illness Pots

In the previous iteration of Plan III, the CIs are grouped into 3 main Pots of Cancer related, heart related illnesses and nervous system critical illness conditions.

Main Change 4 – 60 Individual Critical Illness Conditions Instead

Forming the new payout structure, instead of 3 Pots as mentioned above, the CI conditions are now categorized into 60 individual Critical Illnesses conditions instead. Of these conditions, 40 of them have early/intermediate stages and 35 of them are under the LIA’s (Life Insurance Association) definitions for Advance Stage which has recently been updated to the 2019 Framework.

Main Change 5 – Grouping of Similar & Different CIs Now Impact Waiting Period

Same Category – If an Early Stage Cancer advances into Advance Stage Cancer, up to 300% of Sum Assured will be paid out less any previous claims payout for Early/Intermediate Stage Cancer (or of the same category). This is a total of 300% Sum Assured payout and without any waiting period.

Different Category – If an Early Stage Cancer were to be diagnosed, 100% of Sum Assured will be paid out. In the event if there is a second Advance Stage Heart Attack diagnosis, an additional 300% of Sum Assured will be paid out. This is a total of 400% Sum Assured payout and without any waiting period.

Further Explanations Below.

Interested to learn more?

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Understanding The Plan

My MultiPay Critical Illness IV

source: Singlife with Aviva

While the plan seems complex to look at, let’s breakdown from the diagram above and have a look at the main features at a glance:

There are mainly 3 groups for the benefits – the Critical Illness Benefit, Recurrent CI Benefit and the Other Benefits.

Critical Illness Benefit – No Waiting Period From Early to Advance Stage Same Group CI

  • Total number of CI conditions covered is 132 conditions across Early, Intermediate and Advance stage CI, up from the previous total of 102 conditions.
  • There is a 1 year waiting period between Early and Intermediate Stage CI claims, 100% of sum assured. From Early Stage CI to another Early Stage CI has a 1 year waiting period.
  • There is a 1 year waiting period between Advance Stage CI claims, 300% of sum assured. From Advance Stage CI to another Advance Stage CI has a 1 year waiting period.
  • There is NO waiting period from Early/Intermediate Stage to Advance Stage CI claims of the same group. Similar to MyMultiPay CI III (previous iteration of the plan), this will be 300% less any claims paid for the Early/Intermediate Stage of the SAME CI Group.
  • There is a 1 year waiting period from Advance Stage to Early/Intermediate CI claims. This is new as the previous MyMultiPay CI III has no option for this.
  • 72 Early or Intermediate Stage CIs coverage
  • Total payout: 600% of sum assured.
Singlife Multipay Critical Illness
source: Singlife with Aviva

To Re-Iterate: Grouping of Similar & Different CIs Now Impact Waiting Period

Same Category – If an Early Stage Cancer advances into Advance Stage Cancer, up to 300% of Sum Assured will be paid out less any previous claims payout for Early/Intermediate Stage Cancer (or of the same category). This is a total of 300% Sum Assured payout and without any waiting period.

Different Category – If an Early Stage Cancer were to be diagnosed, 100% of Sum Assured will be paid out. In the event if there is a second Advance Stage Heart Attack diagnosis, an additional 300% of Sum Assured will be paid out. This is a total of 400% Sum Assured payout and without any waiting period.

Recurrent CI Benefit

  • There is a 2 years waiting period between claims to a Recurrent CI of 150% of sum assured for each claim.
  • Total payout: 300% of sum assured (Twice payout).
  • 60 Advance Stage CIs coverage – 300% of sum assured will be paid out, less any claims paid out previously for early/intermediate stage of the same CI group.

After receiving the payouts under the first group of Critical Illness Benefit, if the life insured is re-diagnosed, have a relapse or a new diagnosis of the CI condition, 150% of Sum Assured will be paid out with a waiting period of 2 years. Another 150% of Sum Assured will be paid out if another new condition, relapse or re-diagnosis was to occur, along with a 2 years waiting period again.

However, if a different group of CI not relating to the previous pay out CI group were to be diagnosed after the first Recurrent CI Benefit is paid out, the waiting period is 1 year instead.

Comprehensive Critical Illness Covered

1. Cancer and Carcinoma in-situ 26. Loss of Speech due to Neurological Disease and Permanent (or Temporary) Tracheostomy
 2. Heart Attack of Specified Severity* 27. Major and Mild Burns
3. Cardiomyopathy 28. Major Organ / Bone Marrow Transplantation
4. Specified Surgical Procedures of the Cardiovascular System 29. Multiple Sclerosis
5. Stroke* 30. Muscular Dystrophy
6. Specified Surgical Procedures of Central Nervous System 31. Viral Encephalitis
7. Coronary Artery By-pass Surgery and Other Specified Cardiac Procedures 32. Parkinson’s Disease
8. Nephrectomy 33. Surgery to Aorta
9. Kidney Failure or Chronic Kidney Disease 34. Alzheimer’s Disease / Dementia
10. Aplastic Anaemia* 35. Motor Neurone Disease
11. Reversible Aplastic Anaemia and Myelodysplastic Syndrome or Myelofibrosis 36. Pulmonary Hypertension
12. Blindness (Loss of Sight) or Optic Nerve Atrophy with Low Vision 37. HIV due to Blood Transfusion, Assault, Organ Transplant & Occupationally Acquired HIV
13. Severe Asthma 38. Benign Brain Tumor*
14. Surgical Removal of One Lung 39. Bacterial Meningitis
15. End Stage Lung Disease* 40. Facial Re-constructive Surgery
16. End Stage Liver Failure* 41. Cervical Spinal Cord Injury
17. Liver Surgery 42. Major Head Trauma*
18. Liver Cirrhosis 43. Systemic Lupus Erythematosus
19. Coma 44. Paralysis (Loss of Use of Limbs)*
20. Severe Epilepsy 45. Terminal Illness*
21. Deafness (Loss of Hearing)* 46. Progressive Scleroderma
22. Partial Loss of Hearing 47. Apallic Syndrome*
23. Cochlear Implant Surgery 49. Poliomyelitis*
24. Heart Valve Surgery 50. Loss of Independent Existence*
25. Loss of Speech* 51. Fulminant Viral Hepatitis

Altogether, the Recurrent CI Benefit will pay out two times of 150%, totaling 300% with 2 years of waiting period between the claims for same CI group and 1 year of waiting period between claims for different CI group.

The Recurrent CI Benefit will not be available should the Life Insured choose to activate the Advance Care Option.

List of Conditions under this benefit are as follows:

Specified Severe Stage Critical Illnesses Recurrent Critical Illnesses
Major Cancer Re-diagnosed Major Cancer
Heart Attack of Specified Severity Recurrent Heart Attack of Specified Severity
Stroke with Permanent Neurological Deficit Recurrent Stroke with Permanent Neurological Deficit
Open Chest Heart Valve Surgery Repeated Open Chest Heart Valve Surgery
Major Organ / Bone Marrow Transplantation Repeated Major Organ / Bone Marrow Transplantation
Coronary Artery By-pass Surgery Repeated Coronary Artery By-pass Surgery

Source: Singlife with Aviva

Interested to learn more?

Fill in the form below and we will get back to you!

Other Benefits

I. Advance Care Option

II. Intensive Care Benefit

III. Benign and Borderline Malignant Tumour Benefit

IV. Special Benefit

V. Death Benefit

There are other benefits from the plan and they vary from each other. Of the 5 different benefits, Advance Care Option is highlighted because it will affect the rest of the payout, particularly affecting the Recurrent Critical Illness Benefit mentioned above.

I. How the Advance Care Option Works

Upon diagnosis for advance stage CI on the below conditions and claiming that first 300%, there is now an option to receive an additional 100% of Sum Assured on top of the 300%, totaling 400% of sum assured upon diagnosis of 1 Advance Stage CI condition (any of the below listed 6).

For example, if the sum assured is $250, 000, activating this Advance Care Option will pay out a total of $1, 000, 000 in the event of Advance Stage CI diagnosis.

To receive that additional 100% of Sum Assured, the life insured now needs to choose either the Advance Care Option or Recurrent Critical Illness Benefit.

Here are the conditions listed below:

1) Major Cancer

2) Heart attack of specified severity

3) Stroke with permanent neurological deficit

4) Open chest heart valve surgery

5) Major organ/ Bone Marrow Transplantation

6) Coronary Artery By-pass surgery

However once this payout is exercised, the Recurrent Critical Illness Benefit shall be ceased.

II. Intensive Care Benefit

In the event if the Life Insured is hospitalized and admitted to 4 or more days into Intensive Care Unit (ICU), there is a payout of additional 20% of Sum Assured, up to $25, 000. This will not reduce the Sum Assured.

This is a new feature from Aviva and complements hospitalization coverage be it if you currently have one.

Conditions:

– Life Insured needs to survive for 7 days after first day of ICU admission

– The stay in ICU must be confirmed as Necessary Medical Treatment. A stay in ICU is not considered Necessary Medical Treatment if the Life Insured can be safely and adequately treated in any other facility

– Intensive Care Benefit only claimable once

– Fulfils the waiting period

III. Benign & Borderline Malignant Tumour Benefit 

In the event if the Life Insured:

  • Completes a surgical excision of a benign tumour requiring surgical excision from any of the 22 specified organs listed below

OR

  • Diagnosis of a Borderline Malignant Tumour

There is a payout of additional 20% of Sum Assured, up to $25, 000 and will not reduce the Sum Assured.

This is a new feature from Aviva and complements hospitalization coverage be it if you currently have one.

Specified Organs

1. Heart 12. Pituitary gland
2. Liver 13. Small intestine
3. Lung 14. Testis
4. Pancreas 15. Breast
5. Pericardium 16. Ovary
6. Ureter 17. Penis
7. Adrenal Gland 18. Uterus (cover endometrial polyps only)
8. Bone 19. Nasopharyngeal
9. Conjunctiva 20. Oesophagus
10. Kidney 21. Oral Cavity
11. Nerve in cranium or spine 22. Gallbladder

source: Aviva

IV. 27 Special Benefits (16 Additional 11 Juvenile)

In the event of being diagnosed with any of the 27 conditions, this benefit can be claimed up to 6 times for each different condition. The claim is an additional 20% of Sum Assured, up to $25, 000 per condition and will not reduce the Sum Assured.

Special Benefits – Protection Up To Age 85

1. Diabetic Complications
2. Angioplasty & Other Invasive

Treatment For Coronary Artery

3. Osteoporosis with Fractures
4. Severe Rheumatoid Arthritis
5. Mastectomy
6. Chronic Adrenal Insufficiency (Addison’s Disease)
7. Chronic Relapsing Pancreatitis
8. Hysterectomy due to Cancer
9. Dengue Haemorrhagic Fever
10. Wilson’s Disease
11. Severe Crohn’s Disease
12. Severe Ulcerative Colitis
13. Pheochromocytoma
14. Age-related Macular Degeneration with Visual Impairment
15. Severe Presbycusis (Age-related Hearing Loss)
16. Urinary Incontinence requiring Surgical Repair

Juvenile Benefits – Protection Up To Age 18

17. Severe Juvenile Rheumatoid Arthritis (Stills Disease)
18. Severe Haemophilia
19. Rheumatic Fever with Valvular Impairment
20. Osteogenesis Imperfecta
21. Insulin Dependent Diabetes Mellitus
22. Kawasaki Disease
23. Glomerulonephritis with Nephrotic Syndrome
24. Type I Juvenile Spinal Amyotrophy
25. Autism of Specified Severity
26. Generalised Tetanus
27. Rabies

V. Death Benefits

A Death benefit of $5000 will be paid out in the event of death. 

Premium Illustration: Coverage until 65 Age Next Birthday (ANB) for male, non-smoker

 

Entry age

(Age Next Birthday)

Singlife Multipay Critical Illness Singlife Comprehensive Critical Illness
Sum Assured S$100,000 Sum Assured S$150,000 Sum Assured S$100,000 Sum Assured S$150,000
20 $789 $1,183 $619 $928.50
30 $938 $1,407 $801 $1,201.50
40 $1,614 $2,421 $1,169 $1,753.50

 Coverage until 75 Age Next Birthday (ANB) for male, non-smoker

 

Entry age

(Age Next Birthday)

Singlife Multipay Critical Illness Singlife Comprehensive Critical Illness
Sum Assured S$100,000 Sum Assured S$150,000 Sum Assured S$100,000 Sum Assured S$150,000
20 $1,157 $1,735.50 $666 $999
30 $1,465 $2,197.50 $920 $1,380
40 $2,284 $3,426 $1,456 $2,184

Premium Illustration: Coverage until 65 Age Next Birthday (ANB) for female, non-smoker

 

Entry age

(Age Next Birthday)

Singlife Multipay Critical Illness Singlife Comprehensive Critical Illness
Sum Assured S$100,000 Sum Assured S$150,000 Sum Assured S$100,000 Sum Assured S$150,000
20 $862 $1,293 $532 $798
30 $1,181 $1,771.50 $798 $1,197
40 $2, 144 $3,216 $1,322 $1,983

 Coverage until 75 Age Next Birthday (ANB) for female, non-smoker

 

Entry age

(Age Next Birthday)

Singlife Multipay Critical Illness Singlife Comprehensive Critical Illness
Sum Assured S$100,000 Sum Assured S$150,000 Sum Assured S$100,000 Sum Assured S$150,000
20 $1,206 $1,809 $588 $882
30 $1,589 $2,383.50 $894 $1,341
40 $2,516 $3,774 $1,438 $2,157

Interested to learn more?

Fill in the form below and we will get back to you!

How Singlife Multipay Critical Illness Works

Singlife Multipay Critical Illness
source: Singlife Aviva
Singlife Multipay Critical Illness
source: Singlife Aviva

What we like about Singlife Multipay Critical Illness

  • For the same group of CI claims from Early/Intermediate to Advance Stage CI, there is no waiting period for 300% of Sum Assured.
  • For Early Stage CI to Advance Stage CI, there is a One Year waiting period in between claims of 100% and 300% respectively. Total of 400% Sum Assured, this if for different CI groups and not activating the Advance Care Option
  • Cancer has 2 ways of categorizing and able to claim once under each:
    • Carcinoma in-situ (CIS) and Early Cancers:
      • (a) Carcinoma in-situ (CIS)
      • (b) Early Cancers:
        • Early Prostate Cancer
        • Early Thyroid Cancer
        • Early Bladder Cancer
        • Early Chronic Lymphocytic Leukaemia
        • Early Melanoma
        • Gastro-Intestinal Stromal tumours
  • Advance Care Option provides additional 100% of Sum Assured should Life Assured choose to claim more with one Advance CI (will forfeit Recurrent CI Benefits though)
  • There are now more CI conditions covered
  • The maximum payout is now 900% instead of the previous plan’s 600%
  • There are Pre Early Cancer Benefits, ICU Benefits as well as BENIGN AND BORDERLINE MALIGNANT TUMOUR BENEFIT

What we don’t like about the plan

  • There is now a waiting period of One Year between Early/Intermediate CI Stage Claims
  • Plan is too complicated and understand
  • Death Benefit remains at a low $5, 000 and Maximum Sum Assured remains at $250, 000

Is Singlife Multipay Critical Illness For You?

Aviva’s MyMultipay CI IV is suitable for you if you are looking at a comprehensive Critical Illness coverage protection plan which covers multiple times across early to intermediate to advance stage of CIs. Covering a wide range of CI conditions coupled with the plan structure, it is indeed one of the most competitive MultiPay CI plans in the market today.

As more and more unknown viruses and illnesses are emerging, the truth is we will never know when the next widespread disease will strike. No time is a good time to get adequate critical illness coverage.  As age catches up, premiums will ultimately increase and there is also a risk of change in health conditions, rendering inability to get the coverage by the time you want it in future.

Get Professional Early Stage Multiple CI Plan HERE

We work with professional financial advisors comparing and analyzing to provide non-biased solutions for you, based on your concerns and individual needs. Also adhering to your privacy, your given information will only be used to communicate with you.

To find out more and get a quote for the Aviva MyMultipay Critical Illness IV, simply fill in the form below and our licensed professional financial advisor will get in touch with you.

Contact us below today.

 

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