Each of us will have our unique critical illness insurance needs and wants. While there are critical illness insurance plans that offer an option to extend our coverage up till age 100, there are also plans with shorter coverage tenures.
In general, longer-term critical illness coverage can become increasingly valuable on the back of increasing retirement age and life expectancy in Singapore. Even in the scenario you retire or do not have any dependents, you may continue to need a critical illness payout to sustain your current lifestyle, or to hire help to care for yourself. With rising life expectancy, you may also have elderly dependents to care for even after you stop working in the future.
AIA Power Critical Cover provides two options for your preferred coverage period. AIA Power Critical Cover Value Plan provides coverage up to 75, while the AIA Power Critical Cover Life Plan provides coverage up to 100. Under the Life Plan, you will also have a Maturity Benefit at age 100, as well as Surrender Benefit of between 75% and 99% of your coverage should you decide to surrender your policy.
With certainty of coverage till 100, you are assured that no matter when you are diagnosed with a critical illness, you have a financial safety net for yourself and your loved ones.
In the event of your untimely death, your loved ones will receive 100% of your coverage amount, less any critical illness benefits already paid, as well as a compassionate benefit of $5,000.