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AIA Centurion PA Plan gives complete protection together with worth added providers akin to house care, well being screening and teleconsultations. In celebration of Singapore’s 58th Birthday, Onward As One, we’re rewarding households who buy any of AIA’s eligible private accident plans curated for 3 generations with a purchasing voucher.
CORRECTION by AIA Singapore:
The second sentence of the 11th paragraph has been up to date from
“Clients with AIA Vitality membership will get pleasure from a complimentary primary well being screening with WhiteCoat.”
to
“Clients can select to combine the AIA Centurion PA plan with an AIA Vitality membership, the place they are going to be given a primary well being screening with WhiteCoat at no cost for the primary 12 months.”
The corrected launch reads:
SINGAPORE – Media OutReach – 3 August 2023 – AIA Singapore will likely be launching AIA Centurion PA on 10 August, a private accident (PA) insurance coverage plan that goals to holistically deal with the rising wants of Singapore’s more and more ageing inhabitants. This comes as a part of AIA Health360, a complete suite of options that helps shoppers of their journey towards holistic wellness.
Singapore is presently one of the quickly ageing societies in Asia, brought on by elevated life expectancy and reducing start charges. In 2010, about 1 in 10 Singaporeans had been aged 65 and above. A decade later, in 2020, it has risen to about 1 in 6. By 2030, one other 10 years later, it could be nearly 1 in 4 Singaporeans over 65[1]. These statistics underscore a necessity to assist the quickly ageing inhabitants be protected. With amongst the very best life expectancy on the earth, Singaporeans are additionally anticipated to stay longer[2].
AIA Centurion PA[3] is the primary private accident plan in Singapore that covers neurological ailments like Alzheimer’s Illness/Extreme Dementia and Idiopathic Parkinson’s Illness, and permits reimbursement of day or house care providers that’s required for sickness administration through an elective rider. It gives protection to age 100, and affords a excessive entry age of as much as 80 years previous.
Ms. Irma Hadikusuma, Chief Product Proposition Officer of AIA Singapore, stated, “AIA Singapore goals to be a lifelong accomplice to our prospects, enabling them to stay More healthy, Longer, Higher Lives via all life levels. We developed the AIA Centurion PA plan to deal with Singaporeans’ rising considerations of residing longer in sick well being amidst rising healthcare prices. Via extra holistic and considerate options, we hope to offer each ageing Singaporeans, and people with ageing dad and mom, with a higher peace of thoughts.”
Growing dementia considerations in Singapore
An AIA Private Accident Insurance coverage Survey[4] was just lately performed to additional perceive the important thing considerations of rising previous amongst Singapore residents. Findings revealed that when eager about old-age illnesses, 60% of Singaporeans are involved about dementia, making it the nation’s prime fear. Regardless of this concern, greater than 1 in 2 Singaporeans surveyed shared that they don’t personal insurance policies that cowl neurological ailments. To that finish, respondents indicated a requirement for such protection, with 55% sharing an intention to buy such a coverage for themselves, and greater than 40% intending to buy the identical for his or her dad and mom.
In response to those findings, AIA Centurion PA plan was developed to offer individuals with extra accessibility to cowl themselves for neurological ailments by providing the first-in-market elective rider connected to a private accident plan, the place lump-sum payouts for the prognosis of early, intermediate, and late stage Alzheimer’s Illness/Extreme Dementia and Idiopathic Parkinson’s Illness can be found for as much as S$100,000. The rider additionally affords dementia care reimbursement advantages of as much as S$20,000, reimbursable for twenty-four months upon prognosis of main stage Alzheimer’s Illness/Extreme Dementia or Idiopathic Parkinson’s Illness for providers rendered by registered and licensed day care centres, house care suppliers, or nursing houses. As well as, the rider gives straightforward software with two well being questions and no medical examination is required.
Strengthening unintended medical reimbursement protection
The survey additionally confirmed that just about half the Singaporeans surveyed are involved about bodily disabilities as a consequence of unintended falls. That is corroborated by the respondents’ prime considerations about rising previous, through which 53% are frightened about everlasting incapacity, whereas 37% are frightened about accident-related accidents.
AIA Centurion PA plan meets these considerations by reimbursing as much as S$3,000 in medical prices, together with the hiring of licensed or graduate nurses and physiotherapy per accident.
As well as, the plan covers for Conventional Chinese language Drugs (TCM) or chiropractic remedy, whereas introducing further unintended medical reimbursement protection for treating bone fractures, guaranteeing that post-accident restoration could be as full as doable.
A peace of thoughts
Singapore’s “sandwiched” generations, caring for each ageing dad and mom and youngsters of their very own, are confronted with immense pressures of life. Along with the rising price of residing, which incorporates healthcare and caretaking prices, AIA’s analysis additionally reveals that caretaking Singaporeans are coping with the emotional stress of caring for his or her ageing dad and mom, the dearth of time to juggle their many tasks, and the worry that they could not have satisfactory retirement funds for themselves after coping with the above, thus persevering with the cycle of sandwiched generations of their kids.
The AIA Centurion PA plan goals to encourage prospects to stay nicely with AIA Vitality. Clients can select to combine the AIA Centurion PA plan with an AIA Vitality membership, the place they are going to be given a primary well being screening with WhiteCoat at no cost for the primary 12 months. Thereafter, the insured buyer can proceed to benefit from the primary well being screening at coverage renewal in the event that they obtain a gold or platinum AIA Vitality standing. As a wellness programme, AIA Vitality helps members to trace their well being and rewards them with accomplice rewards and profit for attaining their well being objectives.
The plan can also be targeted on supporting our prospects to be nicely via AIA’s sturdy and complete well being and wellness accomplice ecosystem by offering them simpler accessibility to healthcare providers. AIA has partnered with Jaga-Me, a neighborhood cellular medical and residential care specialist, to offer prospects high quality homecare providers.
Clients may also obtain on-demand video teleconsultation with Singapore-registered medical doctors within the consolation of their house with WhiteCoat.
With it, aged policyholders might go about having fun with their golden years with out the fixed fear of burdening their kids with giant unplanned medical prices, whereas adults with households of their very own to look after, in addition to their very own retirements to plan for, can go about life with the reassurance that their dad and mom are nicely protected.
Wider and extra complete general safety[5]
Along with the above options, AIA Centurion PA plan additionally affords the next in key advantages:
- Unintentional Dying, Dismemberment and Burns advantages of as much as S$100K.
- Further protection for Unintentional Dismemberment and burns ensuing from accidents brought on by public or personal transport, pedestrians, private mobility gadget (PMD) customers, or constructing fires.
- Protection for Fractures and Lack of Actions of Every day Dwelling as a consequence of damage.
- Present Every day Unintentional Hospital Earnings and Publish Hospitalisation Residence Care Profit within the occasion of any hospitalisation.
- Mobility Aids and Residence modification advantages to help senior mobility and security.
Celebrating Singapore’s 58th Birthday, Onward As One
Within the month of August, we’re rewarding households who buy any of AIA’s eligible private accident plans curated for 3 generations with a purchasing voucher. The eligible plans are: AIA Centurion PA plan, AIA Solitaire PA (II) and AIA Star Protector Plus.
[2] https://www.channelnewsasia.com/singapore/public-sector-report-life-expectancy-spor-covid-19-570646
Hashtag: #AIASingapore
The issuer is solely answerable for the content material of this announcement.
About AIA
AIA Group Restricted and its subsidiaries (collectively “AIA” or the “Group”) comprise the most important impartial publicly listed pan-Asian life insurance coverage group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49 per cent three way partnership in India.
The enterprise that’s now AIA was first established in Shanghai greater than a century in the past in 1919. It’s a market chief in Asia (ex-Japan) primarily based on life insurance coverage premiums and holds main positions throughout nearly all of its markets. It had whole property of US$303 billion as of 31 December 2022.
AIA meets the long-term financial savings and safety wants of people by providing a spread of services together with life insurance coverage, accident and medical insurance and financial savings plans. The Group additionally gives worker advantages, credit score life and pension providers to company shoppers. Via an intensive community of brokers, companions and staff throughout Asia, AIA serves the holders of greater than 41 million particular person insurance policies and over 17 million taking part members of group insurance coverage schemes.
AIA Group Restricted is listed on the Foremost Board of The Inventory Alternate of Hong Kong Restricted below the inventory code “1299” with American Depositary Receipts (Degree 1) traded on the over-the-counter market (ticker image: “AAGIY”).
1. Hong Kong SAR refers back to the Hong Kong Particular Administrative Area.
2. Macau SAR refers back to the Macau Particular Administrative Area.
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