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

What You Do Not Know About Eldershield in Singapore

Being old and elderly was something far away from my mind, when I started in the insurance

business 20 years ago, but lately, seeing more news articles on retirement and ageing with yours truly also slowly approaching the "Silver Generation", my family and I began to have our antennas up whenever the topic of age related matters popped up.

Lately, a close relative of ours started to have difficulty walking and he was 72. The first thing that came to my mind was Eldershield, as he displayed the criterias needed to submit a claim (for those who are not familiar with the workings of Eldershield, here's a link to read up about it and after reading, you will definitely feel it's insufficient).

However, what confused us was that his premium payments had ended when he was 65, so naturally we thought the cover