Last updated on April 13th, 2018 at 10:04 am
The Aviva health plan may be a very unique solution to you especially with its moratorium underwriting. It does not need you to declare health status (which means faster application) and is really useful if you are seeking consultation of a condition now. Most IP and even life plans (from my experience) will exclude or postpone your application in such an instance.
I have seen serious confusion about how it works and hopefully this post can help you decide if it is the IP plan for you or your family. These are the main questions before application (list is simplified).
Firstly, you (or person you intend to apply for) do not have the following list of pre-existing conditions that are permanently excluded under the policy. These conditions are quite severe in nature.
Secondly, you (or person you intend to apply for) were not deferred or declined an insurance before.
If you were, the AVIVA moratorium will not apply and you would have to do full medical underwriting only.
What are some situations I’ve seen relating to deferment and decline of insurance offer
A) Very pre-term child applying an IP with full underwriting – declined
B) Polycythemia Neonatorum for child applying an IP with full underwriting – declined
C) Very high BMI applying an IP with full underwriting – declined
C) Pending surgical procedure applying for life insurance – deferred
Disclaimer: this is purely from seeing the experience of others. I do not represent the insurer’s underwriting team.
What kind of questions in the application form that will complicate an application
Has the child ever had, or have been told or been treated for:
a. any respiratory disease, prolonged cough, bronchitis, asthma, heart problems, ts, epilepsy or disorder
affecting the nervous system?
b. any heart disorder, blood disorder, diabetes, endocrine disorder, liver disease or any gastrointestinal disorder,
kidney problems, nephritis or abnormality of the genitourinary system?
c. condition affecting the sight, hearing or speech, physical or developmental defects, abnormal or premature
birth or any cancer, growth, tumor?
In the past 5 years, has the child had any (other than for immunisation or vaccination) of the following tests done?
a. Blood test, Biopsy, Chest X-ray, CT Scan, ECGs, Cholesterol, Liver Function Tests, PAP smear, Ultrasound,
Urine or other tests not mentioned. If yes, please specify the type of test done, date, reason and results of the
b. In the past 5 years, has the child had any (other than for immunisation or vaccination) illness, operation,
medical advice, investigations or hospital treatment not mentioned above?
As you can see, basically if there is health conditions or extra assessments done on newborn, it is not straightforward to get hospital insurance coverage. The application process for sure will take more than the normal 2weeks.
How has hearing the experience of others shaped my recommendation for your newborn?
If you (or person you intend to apply for) have not breached the first and second criteria
but basically have some health condition,
the following chart may be interesting to you.
I will touch on why some conditions may become covered after 5 years but some conditions will still remain excluded.
Example: If you are applying the AVIVA IP for a child with a history of a broken arm
A simple conclusion would be for any medical bills relating to that broken arm (pre-existing condition) in the next 5 years will be excluded. Any new condition is ok. If there are NO symptoms/treatment/checkup etc on that broken arm in the next 5 years after signing up the policy, the condition would be deemed to pass the moratorium period and the condition becomes covered. IE treatment on that broken arm suddenly again after 5 years will be claimable.
Example: If you are applying the AVIVA IP for a child with asthma condition
A simple conclusion for any medical bills relating to asthma (pre-existing condition) in the next 5 years will be excluded. Any new condition is ok.
Since there are symptoms/treatment/checkup etc after signing up the policy, the condition would have failed the moratorium period and remain excluded. IE treatment on asthma before and after 5 years of taking up the policy will remain NOT claimable. It is not true that the asthma becomes covered after the 5th year.
Hopefully this helps to clarify the benefits of this plan. Do click on the whataspp button above if you have further questions.
Do also check our in-house calculator for IP premium
Image credits: https://www2.aviva.com.sg/pdf/MyShield_MyHealthPlus_Brochure.pdf