Everything on insurance for diabetes condition – How we can help!

If you have Type 2 diabetes, it is a long-term metabolic disorder that is characterised by high blood sugar.

Insurance application is difficult but 'll share with you 4 special plans to look at

1) Raffles Shield A with Raffles hospital option

2) AVIVA MyCoreCI plan

3) AIA diabetes care plan

4) Merdeka Care Personal accident plan

Plan #1: Raffles Shield Plan A with Raffles Hospital option

We've helped many apply with the following conditions to apply for Raffles Shield Plan

1) Have hypertension

2) Have cholesterol

3) Have diabetes

If you have only diabetes condition, this is the ONLY medical plan that may offer you coverage.

Our team has experience putting in applications for the Raffles Shield Plan A with Raffles Hospital option.

Note: Other integrated shield plans would have likely declined your application.

In a nut shell, Raffles health can offer you their medical insurance coverage BUT with extra premium of up to 200%. In addition, application will be also subjected to other health status that you may have. 

An example of a counter offer looks like something below.

Premiums would be few hundred to few thousand dollars more depending on your age BUT at least you can get full coverage!

Note: Raffles Shield Plan A with RH option is only for Singaporeans and PR.

Our team at TheAstuteParent was specially invited for a tour to Raffles Hospital at product launch. See video below to know how Raffles Hospital looks on the inside!

A further requirement is that you would need to enrol into the Raffles Care network (PCN) or Polyclinic (CDMP).

Medical reports and relevant test must be submitted at point of application and at every consultation.

I'd brief you more on it during our preliminary appointment

If this is what you need, click on the WhatsApp button below NOW 

or email me at josh.tan@promiseland.com.sg

Plan #2: AVIVA MYcore CI plan

Click here to see AVIVA MyCoreCI brochure

AVIVA MyCoreCI plan covers wider the AIA Diabetes Care plan

This plan covers for 11 CI conditions.

There are 4 Diabetic Conditions covered. For the diabetic conditions, you also can claim an additional 20% of the sum assured if you're diagnosed.

No claim reward at the end!

If you bought the plan and did not claim, at the end of the term, 20% of your premiums will be returned to you. Like a no-claim rebate.

A simpler application process

The AVIVA MyCoreCI Plan has inbuilt underwriting questionnaires to get an immediate premium estimate. No need for medical checkups.

To be eligible, you must be

  • Age 25-65
  • condition is type 2 diabetes

Coverage limit is up to $500,000.

Apparently, you may apply (with extra premiums) if you have a smoking status.

Note: This AVIVA MyCoreCI plan is also suitable if you have high BMI and/or high blood pressure and/or high cholesterol that would be difficult to find traditional life insurance with.

To find out more click on the WhatsApp button below NOW 

or email me at josh.tan@promiseland.com.sg

Plan #3: AIA diabetes Care plan

Click here to see AIA diabetes care brochure

Plan covers for 5 CI conditions

To be eligible, you must be

  • Age 30-65
  • non-smoker
  • diabetic condition was diagnosed after age 25, with no pre-existing diabetes-related complications
  • condition is type 2 diabetes or pre-diabetes

Coverage limits are $250,000.

Plan also pays 20% of sum assured for amputation of the foot at or above the ankle or hand at or above the wrist. However, claims for this does not reduce the plan sum assured and can be claimed once.

Optional rider to cover for cancer.

This cancer rider will pay only 20% of the rider sum assured for Early CI and Intermediate CI . The full sum assured is for a CI condition.

To find out more click on the WhatsApp button below NOW 

or email me at josh.tan@promiseland.com.sg

Case study of AVIVA MyCore CI for applicant with diabetes

I've a private client who has diabetes and cholesterol. He is aged 56.

This are actual figures for $100,000 coverage.

Original premium for the MyCoreCI plan till age 80 for him would be only $2,450.

With the medical declarations, total loading is almost 3x! This is mainly due to the Type2 diabetes condition.

Most of the extra premium came from the "Critical illness" and "Diabetic conditions" benefits.

The AIA Diabetes care plan was even more expensive.

Premiums would be $6,930 for $100,000 sum assured.

With cancer care rider added, it would be $9,530.

Plan #4: NTUC Income MerdekaCare Plan

This is a personal accident plan and only for Singaporeans.

If you have diabetes condition with Insulin Injection, NTUC Income can only accept Basic plan.

If it is only oral medication, NTUC Income can accept applications all plans.

For more details, follow this link https://www.theastuteparent.com/2019/08/merdeka-care/


Looking for insurance plans would have been difficult previously but it is still important because you are at high risk for major health issues.

Diabetes contributes to MUCH HIGHER risk of heart attacks, kidney failures and stroke. Do take care.

Share this post to anyone you know who could benefit from diabetes insurance in Singapore.

To find out more click on the WhatsApp button below NOW 

or email me at josh.tan@promiseland.com.sg

Last updated on June 8th, 2020 at 10:23 pm

Josh Tan Jian Liang (CHFC) Principal Author

REVIEWS: https://theastuteparent.com/josh-tan Practising financial planner with Promiseland Independent Pte Ltd. EXPERIENCE: More than 13years. Josh Tan is a young parent, speaker, author and founder of TheAstuteParent.

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