NTUC Income has just launched a new Cancer Premium Waiver (GIO) (WPV10), which is a non-participating, regular premium rider that waives future premiums on the policy for the remaining term of the rider upon diagnosis of the insured with any one of the major cancers after one year from the cover start date and during the term of the rider.
In addition, application for this rider is hassle-free and acceptance is guaranteed. There is no need for any medical check-up*.
This rider is available to specified GIO plans and can be attached to both first and third-party policies at policy inception.
The list of GIO plans Cancer Premium Waiver (GIO) rider is attachable to:
1. Limited Pay RevoSave (ANRP)
2. Limited Pay RevoSave 3-Pay-10 (ANRV)
3. Limited Pay RevoSave 5-Pay-10 (ANRE)
4. FlexRetire (FRR)
5. RevoSecure (RVGG)
6. VivoCash (VCGL)
* If Insured had consulted a doctor for, suffered symptoms of, was investigated for, was diagnosed with, or received medical treatment for any caner, including carcinoma-in-situ, before the cover start date, no benefit will be paid under the Cancer Waiver Rider, and the rider will be terminated.
Life Insurance Association Singapore (LIA) has just made two changes to the Critical Illnesses (CIs) benefits offered under new individual and group insurance policies. These changes take immediate effect.
Firstly, the definitions to the “severe stage” of the current 37 CIs are updated. This is to reflect the advances in clinical practices, medical science and technology.
Secondly, LIA now allows more than 30 CIs to be covered in a critical illness plan. Currently, only 30 out of the 37 CIs are selected by each insurer to be included in a life insurance plan.
Additional critical illnesses outside the 37 standard CIs will be set and defined by individual insurer. Insurer is also allowed to offer single-illness CI plan such as cancer.
The current definition of the 37 CIs will not be sold from 1 Feb 2014.
NTUC Income has just launched Vivocare 100. It is a comprehensive limited premium, whole-life insurance coverage against the unexpected such as death, Total Permanent Disability (TPD) and extensive range of 100 medical conditions for Special, Juvenile, Early, Intermediate and Advanced stages of Dread Diseases.
Vivocare 100 covers
Death and Terminal Illness – 300% Remaining of Sum Assured up till 65 years old, 100% of Remaining Sum Assured with bonuses from 65 years old onwards;
32 Early-stage dread diseases - 50% of Remaining Sum Assured or up to maximum $75K. Subsequent claim with total claims shall not exceed 50% of the Remaining Sum Assured. 7 days survival period applies. Whole-life coverage;
28 Intermediate-stage dread disease - 100% of remaining Sum Assured plus bonuses or up to maximum $150K (new dread disease) or the difference for the same early-stage dread disease already claimed within the waiting period of 6 months. Premium and Sum Assured are reduced upon claim. Whole-life coverage;
30 Advanced stages of Dread Diseases — 100% of Remaining Sum Assured plus bonuses, or the difference for the same early-stage dread disease already claimed within the waiting period of 6 months. Whole-life coverage;
Total Permanent Disability — 100% of Remaining Sum Assured plus bonuses. Till 65 years old;
Special Dread Diseases — Angioplasty, Diabetic Complications, Severe Osteoporosis, Severe Rheumatoid Arthritis, Dengue Hemorrhagic Fever, Systemic Lupus Erythematosus, Crohn’s Disease, Ulcerative Colitis, Breast Reconstructive Surgery and Pheochromocytoma. Till age 85. Extra 20% of Sum Assured given, up to $30K per condition, up to 5 conditions per policy. 7 days survival period applies;
Juvenile Benefits – Osteogenesis Imperfecta, Severe Haemophilia, Insulin Dependent Diabetes Mellitus, Kawasaki Disease, Rheumatic Fever with Valvular Impairment, Type Juvenile Spinal Amyotrophy, Wilson’s Disease, Systemic Juvenile Rheumatoid Arthritis, Intellectual Impairment due to Sickness or Injury and Glomerulonephritis with Nephrotic Syndrome. Till age 18. Extra 30% of Sum Assured given, up to $30K per condition, up to 5 conditions per policy. 7 days survival period applies.
The premium option is 15-year, 20-year, 25-year, up to 64 age Last Birth Date (LBD), or 84 age LBD.