AIA Singapore launches new policy that covers mental illnesses

AIA Singapore launches new policy that covers mental illnesses | Insurance Business

AIA Singapore launches new policy that covers mental illnesses

In a bid to address the taboo surrounding mental illness in Singapore, AIA Singapore has launched a new insurance plan that covers major mental conditions – the first policy of its kind in the city state, it claims.

AIA’s new Beyond Critical Care regular premium, non-participating critical illness (CI) plan not only provides coverage for five major re-diagnosed or recurred CIs – re-diagnosed major cancer, recurred heart attack, recurred stroke, repeated heart valve surgery, and repeated major organ transplantation – but also covers major mental conditions, including major depressive disorders (MDD), schizophrenia, bipolar disorder, obsessive compulsive disorder (OCD), and Tourette syndrome.

Under the plan, policyholders will be reimbursed up to SG$200 for the cost of their health screening. Coverage for mental conditions is up to the age of 75 except for Tourette syndrome, with coverage to age 21.

“AIA Beyond Critical Care fills the gaps in protection, providing comprehensive coverage for previously unprotected areas and supports the insured through their life journey,” said Ho Lee Yen, chief customer and marketing officer at AIA Singapore. “Importantly, we want to ensure that this plan is accessible so that more Singaporeans can get adequate CI coverage and support to get through the challenges of being diagnosed with such a condition. AIA is celebrating our 100th birthday with more innovations to empower people to live a healthier, longer and better life.”