Last updated on August 2nd, 2018 at 05:14 pm
When Manulife launched the Ready CompleteCare (RCC) plan in Aug2017, it was marketed as having the most comprehensive coverage for different severity of Critical Illnesses (CI).
For the purpose of comparison, we will only look at the Manulife Ready CompleteCare with “Cover-me-again benefit” only.
In a nutshell, both plans potentially allow you to claim more than once.
If you get a CI, it is likely that you can still survive well with modern treatment. Hence, this becomes very useful. Both plans also cover Early CI conditions.
However, there are differences in the policy wordings
With modern health screening, early onset of cancer conditions for example can be picked up with cancer market test and stools analysis test. Naturally, treatment can take place much earlier. The sole purpose of the payout for early critical illness can be used to protect your loss of potential income in an event of prolonged hospital leave.
Key Advantages of Manulife Ready CompleteCare
1) Your family will get full money back in event of death
AVIVA MPCI only pays $5,000 for death. However, death coverage is usually not the focus when buying such plans.
Survival period for both plans is 7days.
2) You can cover “UP TO” 5 Critical Illnesses
Manulife Ready CompleteCare pays up to 5 separate conditions, amounting up to 5x sum assured.
In every claim, the plan pays 1x sum assured. In my opinion, it is quite rare to require more than 2 or 3 claims.
However, it is still favourable compared to the AVIVA MPCI which require critical illness claims to be from a separate “pot of conditions”.
- Manulife Ready CompleteCare is only available for two duration terms: Till Age75 or Age99
Key Advantages of Aviva MyMultiPay CI
1) You will get 3x of sum assured for a critical illness claim + Premium gets waived
- Major Cancers
- Heart Attack of Specified Severity
- Multiple Sclerosis
Cancer, heart attack and stroke (which are listed in that list by the Manulife Ready CompleteCare) account for at least 80% of all CI claims. Source
2) You will get a DISCOUNT if you buy together with term coverage
- “Special benefits” which are capped at 20% of sum assure or $25,000
Based on feedback from a trained medical professional, these 5 conditions have claimable limit of up to $25,000 and are extremely useful benefits to have as it is quite commonly diagnosed
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In case you’re one of the people (like me) who skim to the P.S. before you read the page
- Manulife RCC has more death benefit
- Manulife RCC can cover you for up to 5 different CI claims
- AVIVA MPCI will pay you 3x sum assured for a CI claim
- AVIVA MPCI has discounts if you buy together with death term coverage
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The views and opinions expressed in this article are those of the author and do not represent the views of any other organisation.