Aviva SAF Insurance II

For a while now, I have been considering increasing my critical illness coverage to complement my private MediShield plan (including a rider to cover the deductible and co-insurance portions) which I had signed with GE.

Of my existing plans, there were two immediate options open to me: tagging onto my Aviva SAF Group Insurance or onto my ILP. However, as my ILP was meant almost exclusively for investment purposes (as opposed to insurance), my preference was for the former.

Cost-wise, up till age 45, the charge for critical illness coverage under the Aviva SAF Group Insurance was $5.00 monthly per $50,000 coverage (max $300,000 coverage). Thereafter, the monthly premium progressively increases from year to year until the cut-off age of 65.


For reference, some details for two of the more prominent critical illness plans are as follows:

GE Early-Payout CriticalCare Plus - advertised as providing payout at the earlier stages of critical illness, $63 a month based on a non-smoking male, aged 30 at next birthday with a sum assured amount of $100,000 for a policy term of 30 years

PRUmultiple crisis cover - advertised as providing up to three critical illness claims, inclusive of 2 cancer claims, $1.76 a day for a female non-smoker aged 35 on her next birthday covered for $50,000 over 50 years


Just for comparison purposes, the monthly premiums for a 30-ish male/female non-smoker to be covered for $50,000 are estimated to be (* please consult a qualified agent for accurate quotes and kindly do not take these values at face value):

Aviva SAF Insurance: $5.00
GE Early-Payout CriticalCare Plus: ~$31.50
PRUmultiple crisis cover: ~$52.80

For cost-conscious consumers, the Aviva plan is clearly the most basic and hence least expensive. If one should desire the additional benefits which the other two plans bring, then there is of course an additional price to pay. To each his own...