Review – Tokio Marine MultiCare: A Multiple Payout Critical Illness Plan That Cares

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Last Updated on by Tree of Wealth

The Tokio Marine MultiCare is a multiple payout standalone critical illness plan. It has one of the most competitive premiums that go well with their multiple payout structure. Although not the cheapest, this plan provides better value with the premium priced, when compared with other insurers in the market.

Read on to find out why:

Tokio Marine MultiCare Product Features and Benefits at a Glance

Maximum Sum Assured

350,000

Maximum Payout

900%

Maximum Early Stage CI Payout

350,000

Maximum Intermediate Stage CI Payout

350,000

 Maximum Advance Stage CI Payout

300% of Sum Assured

Up to 2 times on different category with 12 months waiting period

 Total Number Of Early, Intermediate & Late Stage CI Covered

98 Different Stages Of Critical Illnesses Not including Terminal Stage Illnesses

10 Juvenile Conditions Covered

Additional Juvenile Benefit of 20% of the sum assured, capped at S$25,000.

A maximum of 5 claims under Juvenile Benefit

  • 10 Juvenile Conditions Covered
1 Generalised Tetanus 6 Rabies
2 Glomerulonephritis with Nephrotic Syndrome 7 Rheumatic Fever with Valvular Impairment
3 Insulin Dependent Diabetes Mellitus 8 Severe Haemophilia
4 Kawasaki Disease 9 Severe Juvenile Rheumatoid Arthritis
5 Osteogenesis Imperfecta 10 Type I Juvenile Spinal Amyotrophy

10 Special Conditions Covered

20% of the sum assured, capped at S$25,000

A maximum of 5 claims under the Special Benefit

Special Conditions Coverage  10 Special Conditions

  • 10 Special ConditionsCovered
1 Angioplasty and Other Invasive Treatment for Coronary Artery 6 Osteoporosis
2 Breast Reconstructive Surgery following a Mastectomy 7 Pheochromocytoma
3 Crohn’s Disease 8 Severe Rheumatoid Arthritis
4 Dengue Haemorrhagic Fever 9 Ulcerative Colitis
5 Diabetic Complications 10 Wilson’s Disease

Claim Structure

tokio marine multicare, critical illness singapore, early stage critical illness coverage
source: Tokio Marine

Layer 1 – Early/Intermediate Stage Critical Illness

Up to 2 Claims of 100% Sum Assured from different category of CI with NO waiting Period

Layer 2 – Advance Stage Critical Illness

  • Allow up to 2 Claims of 100% for Advance Stage CI from different Group with 1 year waiting period between each claim
  • Maximum Claim of 700% Sum Assured in this category, Can add on Premium Waiver Rider

Layer 3 – Additional Cancer Benefit

After Cancer or Advance Stage CI has been claimed, the last layer 3 still allows up to 2 claims of 100% Sum Assured. Before claiming layer 3, the criteria to claim this layer is that there is a 2-year waiting period from layer 2 of:

  • Layer 2 Group 1 (Cancer) – includes relapse, persistent & advancement of cancer (metastasis)
  • Layer 2 Group 2 & 3 (Heart related & Nervous System and Other Systemic Conditions)
  • 2-year waiting period for claims within layer 3

What We Like About The Plan

  • No waiting period for claims of Early Stage CI to another category of early stage.
  • No waiting period for claims of Early Stage CI to any Advance Stage CI.
  • Up to 2 times for Early Stage CI (no waiting period).
  • Up to 2 times for Advance Stage CI (1 year waiting period) – Up to 300% per claim.
  • Total of 700% for Layer 1 & 2.
  • Advance stage CI payout at 300% of sum assured despite being same category if claim from Early stage before (less off any previously payouts).
  • Maximum payout capped at $350, 000 for Early stage CI. Highest in the market.
  • Layer 3 provides additional safety net protection for Cancer, total of 900% coverage.
  • Waiver of premiums rider need to be bought separately, giving policy holders the extra choice and flexibility.

What We Don’t Like About The Plan

  • Inflexible protection term only until age 70, 75 and 85, no other choices.
  • Highest priced in the market for multiple payout CI plan
  • Layer 3 only covers Major Cancer, Advance Stage.

How Tokio Marine MultiCare Works

tokio marine multicare, critical illness singapore, early stage critical illness coverage
source: Tokio Marine

List Of Critical Illnesses (CI)

tokio marine multicare, critical illness singapore, early stage critical illness coveragetokio marine multicare, critical illness singapore, early stage critical illness coverage

Tokio Marine Multi CareConclusion

As with all insurance plans, the suitability of this plan for you will largely depend on your needs and expectations. If your concern is on a stand alone critical illness plan with no frills and competitive premium with a good insurer, this is the plan for you.

Alternatively, to find the most suitable coverage, simply fill in the form below and our friendly licensed FA advisor will get in touch with you. Based on your needs, a custom made solution will be adjusted only addressing your concerns.

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