Manulife launches two new plans

mPal and mEase cater to customers looking for protection solutions against accidents and critical illnesses.

According to Manulife, both plans are designed to give customers peace of mind and confidence in pursuing the lifestyle they prefer.

Ms Annette King, President and CEO of Manulife Singapore said: "Accident, disability and critical illness are three key coverages that a comprehensive protection portfolio should have. As part of Manulife’s commitment to creating forward-thinking products, we set up a business unit focusing on accident and health plans to provide our customers a wider selection of products and solutions. mPal and mEase are the first two of the m-family series of products to launch this year.”

A Personal Accident plan that is effective worldwide 24 hours a day and 365 days a year, mPal covers accidental death, dismemberment and 14 common diseases such as Dengue Fever and Food Poisoning. It also provides double payment for any injuries sustained while travelling by private or public transport, and double indemnity for injury sustained or covered disease diagnosed overseas where treatment is sought while abroad. In addition, mPal allows for reimbursements of medical treatments from registered Chinese physicians or chiropractors. The plan pays a weekly benefit when hospitalized due to accident or accidental disability as long as it is within 90 days from the date of accident.

KK Loo, Senior Vice President and Chief, Accident & Health Business said: “Accidents are unpredictable, but the importance of accident protection is often overlooked. mPal is like a friend who is always by your side when you are in need. Our customers and their families can count on us for peace of mind.”

Other coverage includes injuries sustained from acts of terrorism, exposure to hazardous sports such as scuba diving for leisure, or full-time National Service or Reservist duty while serving the nation in Singapore and overseas. Parents can enhance coverage for their children with the Child Benefit rider that has an Education Assurance Fund benefit to help future education and daily expenses should the parent die from an accident.

mEase is a term plan that provides comprehensive coverage against 30 critical illnesses, total & permanent disability (TPD) and loss of life. mEase gives customers the option to convert into a regular premium plan from a range of available products of similar cover without further evidence of health. mEase pays out the chosen Sum Insured upon TPD or diagnosis of 29 covered critical illnesses and 10% of the Sum Insured for angioplasty and other invasive treatments for coronary artery disease.

“When misfortune strikes, one’s lifestyle is usually compromised due to the loss of income and this is especially important for sole breadwinners. mEase protects customers’ lifestyles by providing a lump sum to cover loss of income so that they are well equipped financially to focus on recovery,” Mr. Loo commented.

In addition, in the unfortunate event of death, a Compassionate Death Benefit of $10,000 will be payable and an additional sum will be paid on top of this if the mEase Life Rider is attached. Other optional riders are available to waive subsequent premiums upon the death, TPD or critical illness of a payor.