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Tackling Mental Illness: Here’s What One Insurer In Singapore Is Doing To Help

Those insured also get 100% refund of premium if they remain healthy by the end of the policy term.


Insurance group AIA strives to be at the forefront of the insurance industry offering innovative products and solutions to its clients. Recently, AIA launched a first-of-its-kind critical illness (CI) policy, AIA Beyond Critical Care, covering five mental illness conditions including Major Depressive Disorders (MDD), Schizophrenia, Bipolar Disorder, Obsessive Compulsive Disorder (OCD), and Tourette Syndrome.

In addition, this policy continues to serve its purpose as a critical illness policy, providing coverage for 43 Major Stage CIs and five rediagnosed or recurred CI.

The insurer also noted that one of the main highlights of its innovative product is that the policy also provides a 100% premium refund at the end of the policy term for those who remained healthy. AIA said that this was the biggest draw for critical illness policies for 70% of Singaporeans it surveyed.

Read Also: Buying Insurance After Getting Diabetes? Here’s One Policy That Encourages You To Do Just That

Treating Mental Conditions Is Just As Important

According to the World Health Organisation (WHO), Singapore had the highest rate of depression in Asia in 2015. Nevertheless, mental conditions remain a taboo subject in Singapore and many Asian societies. However, diagnosing and treating mental conditions is just as important as physical conditions to lead a fulfilling life.

According to AIA, one in seven Singaporeans experienced a mental condition in their lifetime. According to the second Singapore Mental Health Study conducted in 2016 by the Institute of Mental Health (IMH) and Nanyang Technological University (NTU), 75% of people with a mental disorder in their lifetime did not seek any professional help.

What Are You Covered For?

To plug this important gap in the market, AIA Beyond Critical Care provides coverage for five mental illness up to age 75. Policyholders will receive an additional 20% of the coverage amount, up to $50,000 per claim, for the five mental illnesses.

Source: AIA Beyond Critical Care

As mentioned above, this policy is a critical illness policy, which means it primarily provides coverage for 43 CIs as well as five rediagnosed or recurred CI. This means it potentially provides up to 200% of the coverage amount – with the first claim for the 43 CIs and an additional claim, after 12 months from the first claim – provided for a different critical illness or for the same critical illness if it is one of the five rediagnosed or recurred CI.

Source: AIA Beyond Critical Care

Source: AIA Beyond Critical Care

Supporting Clients To Remain Healthy

AIA has also invested heavily in trying to get its customers to lead healthier lifestyles and remain healthy. While it is the good-hearted thing to do, it is also good for business – as healthier clients translate to lower payouts. This is truly a win-win situation.

Beyond just receiving a 100% premium refund if policyholders remain healthy by the end of the policy term, AIA also assists its clients via three solutions:

# 1 AIA Vitality: A science-backed wellness programme that encourage policyholders to make healthier lifestyle choices, quit smoking and go for regular health screening. AIA offers rewards such as premium discounts, cashback on gym memberships and to buy healthier food items at the grocery store as well as entertain and travel related rewards.

# 2 Medix: AIA has partnered Medix to provide Personal Medical Case Management for policyholders facing serious medical conditions for support at each step of the treatment and recovery process. At no additional cost, this add-on service enables its clients access to leading specialists, to review and re-evaluate a patient’s medical conditions, medical recommendations and other healthcare support services.

Read Also: From Risk Management to Health Management: How AIA is Partnering Medix To Redefine What It Means To Be An Insurer in S’pore

# 3 AIA Critical Assist: AIA Critical Assist is a dedicated hotline service providing clients access to healthcare practitioners who can provide expert advice, trusted recommendations and referrals to reliable health, home and care services.

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