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I got wind from Patrick Lim’s site on this insurance policy. From the description it looks like a critical illness plan for a person close to my age (29). 100k for 53 bucks.
What i find interesting is that normally critical illness pays out only when your illness is at a stage where it is a foregone conclusion that you are in deep shit. This plan looks to me that it is able to payout at an earlier stage of diagnosis.
This amount can go a long way to resolving payment problems for those short cashflow and those that have to stop working. It would go along way to making up for cashflow loss from not working.
My ususal caveat is that i did not look deep into the numbers. The 53 bucks quoted will vary based on the person’s health condition and age and is non-guaranteed.
With AXAs Early-Payout LivingEnhancer, you can enjoy:
Extensive coverage for up to 60 medical conditions
Exemption of waiting period between multiple claims
Extra death benefit of S$15,000 in a lump sum, regardless of the sum assured
For instance, you can enjoy protection for up to 60 medical conditions at a sum assured of S$100,000 at only S$53 a month.
Provide security for you and your family during
critical times
With AXAs Early-Payout LivingEnhancer, you get a sense of financial security at the onset of a critical illness. You can use the early payout claims to pay for your medical costs or to settle your financial commitments such as mortgage payments, home loans, and provide extra cash for the family. This way, you can concentrate on your treatment without having to worry about your finances.
AXAs Early-Payout LivingEnhancer is a regular premium plan with early payout critical illness benefits. The amount you can claim depends on the severity of the illnesses. There are three different levels of severity.
Severity 25 covers the earliest stage of a critical illness. Patients diagnosed with an illness under Severity 25 will receive the payout of 25% of the sum assured.
Severity 50 covers the next stage of a critical illness, a condition where the illness has progressed to a more advanced stage. Severity 50 triggers the payout of 50% of the sum assured minus any previous claims admitted for the same critical illness.
Severity 100 covers the most advanced stage of a critical illness. It triggers the payout of 100% of the sum assured minus any previous claims.
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Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
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Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend. All opinions on Investment Moats are his own and does not represent the views of Providend.
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