Showing posts with label early stage. Show all posts
Showing posts with label early stage. Show all posts

TM Early Cover To Replace TM Early Care From Tokio Marine Group For Critical Illness

TM Early CoverEarly detection for Critical Illness or Dread Disease has been the buzz word these days and insurance companies have been launching many plans to meet the demands and improving/ replacing existing early detection policies with new and better ones. , TM Early Care was not spared either. On 29 January 2018, it was replaced by TM Early Cover.


The differences between the 2 plans are not really significant, but let us share with you what are some of TM Early Cover's features:
  • 3 Coverage terms to age 70, to age 75 & to age 85 
  • Customer can buy from as young as age 1 till age 65 (Age Next Birthday).
  • Maximum Claim Limit per stage is $350,000 , compared to the old TM Early Care, which was $75,000 only.
  • However for TM Early Cover, each payout reduces the claim compared to the earlier plan, which does not.
  • Covers 36 Critical Illnesses (Terminal Illness has been added as a CI, whilst Angioplasty is now 1 of the special benefits)
  • Another Extra 20%, subject to a maximum limit of $25,000 can be paid out for the following 10 Special Benefits:  

Early Detection Critical Illness Policy from Tokio Marine Group

Product will Be Terminated from 29 Jan 2018
So much talk has been made on Critical Illness plans from Singapore insurance companies since most pay out only during the last or final stages of the chronic illnesses; to which many clients rebutted saying that they won't have any use for the money since it's as good as a death benefit. Well you will be happy to know that Tokio Marine Life Insurance has a product to resolve this issue and the plan is called TM Early Care, which pays on early, intermediate or advanced stages of the stated Critical Illness*. The product can be sold as a stand alone or as a rider.

What is so special about TM Early Care?

  • Extra 25% of Sum Assured will be paid out if Critical Illness happens before age 65 next birthday.
  • Future premiums are waived if there's remaining coverage after early diagnosis of the critical illness.
  • Extra payout will not reduce the Sum Assured (Early Stage Maximum Limit is $75,000) *
  • Multiple claims for different critical illness or dread disease are allowed.
  • Another Extra 20%, subject to a maximum limit of $25,000 can be paid out for the following 5 Special Benefits:                                                                                                                          (i) Diabetic Complications
    (ii) Osteoporosis
    (iii) Severe Rheumatoid Arthritis
    (iv) Dengue Haemorrhagic Fever
    (v) Breast Reconstructive Surgery following a Mastectomy
    Payment of Dread Disease Benefit will not reduce the amount payable under Special Benefits
  •  A Death Benefit of S$20,000 will be paid out in a lump sum regardless of the Sum Assured.
  • A biennial cash benefit of S$100 is payable starting from the 2nd Policy Anniversary till the end of the coverage term, even when there are claims.
  • Critical Illness Benefit or Special Benefit must have the client survive for 7 days from the date of diagnosis before being able to disburse payout to them
  • Customer can buy from as young as age 1 till age 65 and coverage can be remain up till 85 age next birthday for the insured.
* Please refer to policy or product summary for details. If you want to find out more about the product or want to have a more comprehensive cover in your insurance portfolio, do contact us.

As at 08 January 2016, the Tokio Marine Group has launched another rider to assist in the recovery process if Cancer were to strike.