TM Protect 1 - Your Answer To More Eldershield Coverage

Many of my friends and clients have already topped up their Eldershield coverage the minute they turned 40 through Aviva's Mycare plan.

However, many still felt that the coverage wasn't sufficient with the inflationary pressures of old age in Singapore. So at long last, Tokio Marine Group has listened and came up with their version of long term care policy by launching TM Protect 1 on 10 January 2016 2017.

Some of the features of this plan are as follows:

• Pays out on 1 ADL (Activity of Daily Living) ~ Eldershield requires 3 ADLs before a payout
• TM Protect 1 allows you to choose between a  3 year or 6 years benefit payout. ~ Eldershield only has a 6 years payout.
• TM Protect 1 has monthly benefit payouts from $1000 to $5000 (this can definitely complement your Eldershield policy and keep abreast with the cost of living when you are old) ~ Eldershield has only a $400 monthly benefit payout program
• 1 time Get well benefit after full recovery from the ADL disability
• 1 time Death Benefit of $5000 if death occurs during policy period
• Caregiver paid a 1 month benefit payout (this is a ONE time payout) 30 days after assured is deemed to have the ADL disability.
• If assured is certified to have ADL due to Heart Attack or Stroke, there is a ONE lump sum payout of 200% monthly benefit
• An annual Rehabilitation benefit which includes TCM (Traditional Chinese Medicine) equivalent to 100% of monthly benefit per policy year is payable once certification of ADL is in place by the panel of Eldershield doctors.
• Rental/purchase of Mobility Aids expense are claimable up to 50% of monthly benefit payout limit every policy year. 
• Transport benefit for specially adapted transportation for outpatient consultation (excluding ambulance) can be reimbursed up to 20% monthly benefit every policy year.
•  There is NO Surrender Benefit.
• Premiums are payable throughout the coverage term and are not level. (However, when the assured is receiving the monthly benefit payouts, no annual premiums need to be paid)
• Entry Age is 19 - 60 and covers till 70. (this is a plus since Eldershield only begins at 40)
• Payable by CASH only.
• Decline if BMI is above 35.
• Very simple underwriting questions, so if you still have family members who DO NOT have any policies, they can purchase this as the premiums are very affordable. (payable monthly or annually)
• Foreigners of approved Countries are eligible to buy (Since they can't buy Eldershield, this is a good alternative for them) 

So now you know why it is called the Protect 1 policy (pun intended) ? If you are interested to know more, do contact us!