We understand that recovery doesn't mean you're 100% ready to get back on your feet. For that, we'll continue to give you a monthly payout during your recovery stage. A little boost to help you push through difficult times.
Securing your future
If you already have basic severe disability1 coverage through ElderShield, you know how important such coverage is. Becoming disabled due to a serious accident or an illness can mean hardship for both you and your loved ones. Severe Disability Insurance helps relieve some of these hardships by providing monthly payouts to help cover some of the costs associated with long-term care.
Is the basic protection offered by ElderShield enough?
While short-term coverage can offer critical assistance, associated costs will continue well after a policy's benefits have expired. Supplementing your ElderShield protection with Aviva's MyCare/ MyCare Plus is important as it will enhance your coverage and provide you with better peace of mind.
Aviva's MyCare/MyCare Plus
With MyCare or MyCare Plus, you can transform your ElderShield cover into lifetime2 benefits with premiums that do not increase with age. The best part about this insurance is that not only can you use cash, you can use Medisave Funds of up to S$600 per calendar year per Life Assured. What's more, you can use your Medisave Funds to cover your spouse, parents or grandparents.
How does the basic MyCare improve my benefits?
MyCare's unlimited payout term means you will receive the monthly payouts as long as you are disabled. At the same time, MyCare will provide you with a higher monthly payout than ElderShield, which can be used to cover for more expenses incurred during your disability.
The other additional benefits are:
- Tax and GST-free payouts that let you spend your money where it's needed
- A one time lump sum benefit equal to three times the first monthly payout amount will be provided to help you with the initial expenses at the onset of the disability.
- A dependent care benefit of $200 per month payable up to 36 months if you have a child aged 21 years old and below at claim.
- A Rehabilitation Benefit of 50% of the monthly payout during your recovery stage.
- A death benefit that will pay three times your last payout if death occurs during the severe disability.
- A waiver of premium payment during benefit3 payouts.
- A guaranteed renewal that allows you to continue coverage as needed
Customise your policy
Beyond providing you with exceptional benefits for a reasonable premium, Aviva's MyCare also allows you to customise your policy by choosing the coverage options that are right for you. These options include:
Custom Payout Benefit
Choose your preferred monthly payout (inclusive of ElderShield benefit) from a minimum of $600 to a maximum of $5000 (in increments of $100).
Custom Monthly Payout Duration
Choose between a fixed 12-year (144 months) duration or unlimited lifetime payout.
Custom Payment Term
Choose between paying until 66 (age next birthday) or for 20 years from entry age, whichever is later.
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