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Pros and Cons of Aviva ElderShield MyCare & MyCare Plus

Aviva ElderShield enhancement (MyCare and MyCare Plus) is an Eldershield supplement issued by Aviva Singapore. It aims to provide lifetime protection against severe disability by providing a monthly benefit when the insured is unable to perform the minimum number of activities of daily living. The 6 activities of daily living are:
  1. Washing – The ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.
  2. Dressing – The ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical or medical appliances.
  3. Feeding – The ability to feed oneself food after it has been prepared and made available.
  4. Toileting – The ability to use lavatory or manage bowel and bladder function through the use of protective undergarments or surgical appliances if appropriate.
  5. Mobility – The ability to move indoors from room to room on level surfaces.
  6. Transferring – The ability to move from a bed to an upright chair or wheelchair, and vice versa.

Aviva ElderShield – MyCare Claim Condition

  • Unable to perform 3 out of 6 activities of daily living

Aviva ElderShield – MyCare Plus Claim Condition

  • Unable to perform 2 out of 6 activities of daily living

Both Aviva ElderShield enhancements offer lifetime coverage, and they have two benefit payout duration of 12 years and lifetime. There is a 90 deferment period in which the benefit will be paid out 90 days after the disability. The premium can be paid by cash or MediSave (up to $600/year). The insurance premium is waived in the event of a claim.

[Update: Aviva is giving $100 discount off 1st-year premium in 2016. Terms and conditions apply]

Aviva ElderShield 1st Year Discount Promotion 2016

Image is taken from aviva.com.sg

Pros of Aviva ElderShield Enhancement

  1. Aviva ElderShield is competitive in pricing. It is very affordable especially for MyCare Plus that is claimable for 2 out of 6 activities of daily living
  2. Premium is waiver in the event of claiming

Cons of Aviva ElderShield Enhancement

  1. The premium is payable lifetime
  2. The payout benefit is inclusive of the basic ElderShield

To find out more about the Pros & Cons of Aviva ElderShield.

To evaluate if Aviva ElderShield is suitable for your needs.

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Besides Aiva ElderShield upgrade, you may also want to read about a similar ElderShield upgrade from NTUC here

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