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Singlife Multipay Critical Illness IV
Product Review
5.0
Coverage up to
99
Years old
Introduction
Singlife Multipay Critical Illness is a multi claim critical illness term plan that offers a lump sum payout at different severities of critical illness and allows multiple claims on early, intermediate and severe stage critical illnesses, potentially adding up to 900% of sum assured for critical illness benefit payout.
How it Benefits you?

Policy feature at a glance

 

 

- Flexible choice of coverage of 10 and up to age 99 (ANB), at every one year interval.

- Premium is waived upon claim of 300% sum assured.

- Pays a Critical illness (60 CI Groups) benefit of up to 600% of sum assured upon diagnosis of Early, Intermediate Stage Critical Illness (100%) and Severe Stage Critical Illness (300%)

- Recurrent Critical illness benefit pays 150% of sum assured per claim of selected recurrent critical illness.

- Advance care option which pays an additional 100% of the Sum Assured for the first Severe Stage Critical Illness Benefit claim for eligible critical illness

- Additional Intensive Care benefit of 20% sum assured upon admission to Intensive Care Unit (ICU) for 4 days or more in one hospital admission

-Benign and Borderline Malignant Tumour benefit of an additional 20% of the Sum Assured 

What we like about the plan?

Comprehensive Critical illness coverage

 

 

Special benefits -  20% sum assured

 

If the insured is diagnosed with any conditions listed, an additional 20% of sum assured will be payable, subjected to maximum amount of $25,000 per life.

 

List of Juvenile Benefit -  20% sum assured

 

Advance Care Option - Additional 100% sum assured payout

 

Insured has the option to receive additional 100% of sum assured payout in the event of diagosis of any of the following eligible Critical illness:

  • Major Cancer
  • Heart Attack of Specified Severity
  • Stroke with Permanent Neurological Deficit
  • Open Chest Heart Valve Surgery
  • Major Organ / Bone Marrow Transplantation
  • Coronary Artery By-pass Surgery

 

By exercising Advance Care option, an additional 100% of the Sum Assured will be payable in one lump sum on top of the Severe Stage Critical Illness Benefit claim payable under the Critical Illness Benefit and the Recurrent Critical Illness Benefit shall cease.

 

Recurrent Critical illness Benefit - 150% sum assured

 

Insured will receive 150% of sum assured in one lump upon diagnosis of

1. any one of the specified Severe Stage Critical Illnesses covered under this benefit, provided that the Critical Illness Benefit has ceased; or

2. any one of the Recurrent Critical Illnesses covered under this benefit

 

 

ICU Benefit - 20% sum assured

 

If the insured is admitted to the ICU due to illness or accident of 4 days or more in one hospital admission, there will be an additional 20% of sum assured payable, subject to maximum of $25,000 per life.

 

Benign and Borderline Tumour benefit - 20% sum assured

 

If the insured undergoes a complete surgical excision of Benign tumour of any of the specified Organs covered, an additional 20% of sum assured will be payable, subject to maximum of $25,000 per life.

 

Case Studies

Example of how Singlife Multipay Critical illness IV works

 

Upon Advanced Major Cancer diagnosis

 

As Major Cancer is one of the eligible Critical illness for Advance Care option, the insured have the option to exercise Advance Care option and receive an additional 100% sum assured payout on top of the Severe Critical illness benefit of 300% sum assured.

 

Option 1: Exercise Advance Care Option

 

If the insured exercises Advance Care option, they will receive 400% of sum assured.

The Recurrent Critical illness benefit will cease.

 

The insured will still be eligible for future critical illness benefit (other than Major Cancer) after the one year waiting period.

 

Option 2: Do not exercise Advance Care Option

 

If the insured do not exercise advance Care option, they will receive 300% of sum assured.

The recurrent Critical illness benefit will continue, and will be eligible for 150% of sum assured payout if there is recurrent cancer after 24 months waiting period.

 

Premium is waived

Premium will be waived as 300% of sum assured is claimed, and the policyholder do not have to pay for premiums any longer.

 

The policy will continue covering the insured until the end of policy term.

 

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