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AIA S’pore launches Ultimate Critical Cover, S’poreans feel ‘inadequately protected’

A study was conducted which showed that respondents consider a median payout of $100,000 sufficient, short of the recommended $300,000 by LIA.

AIA Singapore has launched AIA Ultimate Critical Cover (AIA UCC) to address the 74% critical illness protection gap in Singapore. 

The initiative aims to tackle the underestimation of necessary coverage, particularly among those without critical illness plans, smokers, and younger demographics. 

The study commissioned by AIA Singapore revealed that respondents consider a median payout of $100,000 sufficient, falling short of the recommended $300,000 or 3.9 times annual income by the Life Insurance Association (LIA) of Singapore. 

ALSO READ: AIA Hong Kong debuts high-return multi-currency plan

AIA UCC covers 150 medical conditions, offers unlimited claims with a maximum limit, and integrates with AIA Vitality for wellness incentives. 

Premiums start at S$630 for a 25-year-old male non-smoker and coverage until 65-years old with a sum assured of S$100,000. 

The plan includes an optional UCC Enhancer rider and a premium waiver rider for income loss protection.

 

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