Singlife ElderShield Standard and Plus Review
The complete Pros and Cons on Singlife ElderShield Standard and Plus
Singlife ElderShield Standard and Plus (previously known as Aviva MyCare & Aviva MyCarePlus) is an ElderShield supplement that pays you additional income in the event of severe disability.
The Plus option starts paying out upon your disability to perform 2 of 6 Activities of Daily Living (ADLs).
Singlife ElderShield Standard and Plus product details
- Non-participating policy – Disability Income Insurance
- Eldershield Supplement – additional $600 to $5,000 per month if severely disabled
- Singlife ElderShield Standard – inability to perform 3 of 6 ADLs
- Singlife ElderShield Plus – inability to perform 2 of 6 ADLs
- Customise Monthly Payout Duration
- You can choose to receive disability income for 12 years or for life, as long as you stay severely disabled
- Flexible Premium Payment Terms
- Pay for life – more affordable premiums
- Pay up to age 65 or for 20 years, whichever is later – no worries on further financial commitment after retirement
- Payable with MediSave
- You can use up to $600 of your MediSave funds annually to pay for premiums
- Disability Lump-sum Payout
- You will receive a lump-sum payout the sum of 3X your first monthly benefit when you become severely disabled
- Premium Waiver
- Premiums are waived when you become severely disabled and receiving the monthly benefit or Rehabiliation Benefit
- Rehabilitation Benefit
- Singlife ElderShield Standard will pay out 50% of your monthly benefit if you’re no longer severely disabled but still not able to perform 2 of 6 ADLs
- Child Care Benefit
- You will receive an additional $200 monthly if you have a child age 21 and below at the point of claim, up to 36 months
- Death Lump-sum Payout
- A lump-sum death payout of 3X your monthly benefit or rehabilitation benefit will be paid out if you pass away while receiving either of these payouts
Read About: 3 things to consider before taking up a new financial product
Features of Singlife ElderShield Standard and Plus at a glance
Cash and Cash Withdrawal Benefits
Cash value: No
Cash withdrawal benefits: No
Health and Insurance Coverage
Death: NA
Total Permanent Disability: NA
Terminal Illness: NA
Critical Illness: NA
Early Critical Illness: NA
Health and Insurance Coverage Multiplier
Death: NA
Total Permanent Disability: NA
Terminal Illness: NA
Critical Illness: NA
Early Critical Illness: NA
Optional Add-on Riders
NA
Additional Features and Benefits
Yes.
For further information and details, refer to Singlife website. Alternatively, fill up the form below and let us advise accordingly.
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Is Singlife ElderShield Standard and Plus suitable for me?
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