AvivaDirect - MyCare - Benefits At A Glance

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The Ministry of Health’s ElderShield scheme^# offers basic protection by paying out up to $400 a month for the first 72 months. But what about long-term costs beyond the 72 months? Now available from AvivaDirect, MyCare/MyCare Plus disability insurance plan allows you to supplement your ElderShield cover by extending the benefits payout to 12 years, or for as long as you need them.

24/7 global coverage

Tax and GST-free payouts that let you spend your money where it's needed

A waiver of premium payments during benefit^ payouts

A guaranteed renewal that allows you to continue coverage as needed

*Severe Disability means the inability of the Life Assured to perform at least 3 of 6 Activities of Daily Living, even with the aid of special equipment and always require the physical assistance of another person throughout the entire activity.

#Severe disability insurance can help you cover the cost of care and recovery following disability due to accident or illness. The Ministry of Health's ElderShield scheme, introduced in 2002, provides participants with this basic level of protection.

^ This refers to when the life assured is receiving either the Severe Disability Benefit or the Rehabilitation Benefit.

Beyond providing you with exceptional benefits for a reasonable premium, MyCare/MyCare Plus also allows you to customise your policy by choosing the coverage options that are right for you.

Plan Details

Benefits	Your Eldershield Plan	MyCare
Criteria for Benefit Payout	Inability to perform at least 3 out of 6 activities of daily living⁵	Inability to perform at least 2 out of 6 activities of daily living⁵
Benefit Payout Duration	Up to 6 years (72 months)	Lifetime Benefit Payout
Monthly Severe Disability Benefit	S$400	S$800 including basic ElderShield benefit³
Dependant Care Benefit	NIL	S$200 per month up to 36 months if you have a child aged 21 years old and below at point of claim
Lump Sum Benefit	NIL	3 times your first monthly benefit⁶
Death Benefit	NIL	3 times your last drawn monthly benefit⁷

What you need to know:

Source : 2007 ElderShield Reform e-Consultation Paper.
Based on Aviva's claim experience for ElderShield and MyCare from 2007 to 2010.
Based on basic ElderShield benefit payout of S$400 per month for 6 years.
If you have a child aged 21 years and below at point of claim.
Activities of Daily Living - washing, dressing, feeding, toileting, mobility and transferring.
Monthly benefit refers to the applicable Severe Disability Benefit under MyCare Plus.
You will receive 3 times your last paid monthly benefit amount payable under MyCare Plus for the Severe Disability Benefit if the Life Assured dies due to any accident or sickness while receiving the Severe Disability Benefit.

This piece of communication is not a contract of insurance. The standard terms and conditions of this plan are provided in the relevant policy contract. This is published for information and general circulation only and does not have any regard to specific investment objectives, financial situation and the particular needs of any specific person. You should read the product summary before deciding whether to purchase the policy. In the event that you choose not seek advice from financial adviser, you should consider whether the product in question is suitable for you. Buying health insurance products that are not suitable for you may impact your abilities to finance your future healthcare needs. Within sixty (60) days of receipt of the Policy, you may write to us to cancel your Policy. We will refund the premiums you have paid (without interest). If the Policy was sent to you by post, you are considered to have received it seven (7) days after posting.

In our example, a 41-year-old male already has basic ElderShield protection with a payout of $400 a month for a term not to exceed 72 months. By adding MyCare to the policy, he upgrades his benefit to $800 a month, extends the benefit payout duration to lifetime and chooses to pay his premium until age 67 next birthday. When he finally does make a claim, his child is 21 years old. How is he paid?

Severe Disability Benefit
For the first 72 months: he receives $400 from his basic ElderShield and an additional $400 from MyCare.
Beyond month 72: he receives the full enhanced payout of $800 from MyCare

Rehabilitation Benefit
If he recovers from a Severe Disability but is unable to perform 2 of the 6 Activities of Daily Living.
If the rehabilitation occurs within the first 72 months: $200
If the rehabilitation occurs beyond 72 months: $400

Dependant Care Benefit
He will receive $200 monthly, up to 36 months.

Lump Sum Benefit
He will receive an additional one-time benefit of $1200 upon first payout.

If unfortunately, he passed away while receiving the payout,
Death Benefit (while receiving Severe Disability Benefit)
If death occurs during the first 72 months: $1200
If death occurs beyond month 72: $2400

Death Benefit (while receiving Rehabilitation Benefit)
For the first 72 months: $600
Beyond month 72: $1200

For the term of the policy, his premiums are a total of $14854.06:

	$10305.10 MyCare premiums
	$4548.96 basic ElderShield premiums

For the first 72 months of his disability, he is paid a total of $66000.00:

	$28800 basic ElderShield payout
	$28800 MyCare payout (assume his severe disability lasted beyond first 72 months)
	$1200 MyCare Lump Sum Benefit
	$7200 MyCare Dependant Care Benefit (payable only if Policyholder has a child below 21 years old)

Beyond 72 months, he is paid:

	$800 a month of Severe Disability Benefit for an unlimited period OR
	$400 a month of Rehabilitation Benefit for an unlimited period.

The benefit payouts shall cease upon death of the Life Assured or when Life Assured recovers from severe disability or rehabilitation.

A severe disability due to accident or illness can happen to anyone at any age. The impact on you and your loved ones can be traumatic, especially as daily care costs continue to rise. If you were disabled tomorrow and unable to work, how would you survive? Products like Aviva MyCare/MyCare Plus, which supplement basic ElderShield coverage, can offer long-term security for you and your family.

	MyCare/MyCare Plus Product Summary (filesize: 58KB)
	MyCare/MyCare Plus Contract Provision (filesize: 686KB)
	AvivaDirect Terms & Conditions (filesize: 48KB)
	Your Guide to Health Insurance (filesize: 2487KB)
	Your Guide to Life Insurance (filesize: 2550KB)
	Appointed Assessors (filesize: 63KB)

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	Important Notes The policy is underwritten by Aviva Ltd. This is published for general information only and does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person. A product summary in relation to MyCare/MyCare Plus is available and may be obtained from Aviva Ltd and the participating distributors’ offices. You should read the product summary before deciding whether to purchase the policy. You may wish to seek advice from a financial adviser before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you. Buying a life insurance policy is a long-term commitment and an early termination of the policy usually involves high costs. This is not a contract of insurance. Full details of the standard terms and conditions of this plan can be found in the relevant policy contract. Information is correct at time of publishing.

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