fML Reviews: AXA SmartCare Junior

AXA SmartCare Junior review

Critical illnesses can strike any time, be it for adults or young children. During recovery from critical illnesses, you’d need resources to help you such as vitamins or even alternative medicine to complement existing therapy. That’s where the lump sum from critical illness plans come in, when you are diagnosed with a critical illness. However, the critical illnesses that children face are completely different from the ones that adults face. In this article, as a complement to AXA SmartCare Critical, fundMyLife reviews AXA SmartCare Junior and explores its various features. Disclaimer: this article is accurate as of Oct 2018.

What is it?

AXA SmartCare Junior is a critical illness plan for children 15 days old to 18 years old. The plan is renewable up to the age of 25 if he or she is enrolled in an educational institution on full-time studies. The parents buying this policy for the child must be between 18 to 72 years old.

Notable features

Three-tier plan

Similar to the AXA SmartCare Critical, there are three different tiers of plans: Bronze, Silver, Gold. The amount of benefits depends on whichever tier you purchase, with Bronze paying out the least and Gold paying out the most. There are ten conditions covered:

  1. Major cancers
  2. Major Organ/Bone Marrow Transplantation
  3. Blindness
  4. Deafness
  5. Encephalitis
  6. Bacterial meningitis
  7. Benign brain tumor
  8. Poliomyelitis
  9. Terminal illness
  10. Heart valve surgery

The payout ranges from $20,000 to $35,000 to $50,000, depending on whether you’re Bronze, Silver, or Gold respectively. You also get a lump sum benefit of $3,000 if the child dies an illness during or after treatment for the illness at a hospital.

Hospitalization benefit

If your child sent to the hospital for eight conditions, you will get reimbursement for your in-hospital expenses. These are the eight conditions:

  1. Hand, Foot & Mouth Disease
  2. Chicken Pox
  3. Measles
  4. Kawasaki Disease
  5. Dengue Haemorrhagic Fever
  6. Heat Stroke
  7. Food Poisoning
  8. Acute Appendecitis

The amount reimbursed per condition is $2,000, $3,500, and $5,000 for Bronze, Silver, and Gold respectively. On top of that, you will also get a Get Well benefit of $50.

Personal accident cover

For personal accidents, you get $200, $350, and $500 under Bronze, Silver, and Gold plans. On top of personal accident, in the case of of accidental death or permanent total disablement, the policy provides a lump sum of up to the insured child. For both accidental death and permanent total disablement, it is $20,000, $35,000, and $50,000 for Bronze, Silver, and Gold.

Your benefits for accidents, accidental death, and permanent total disablement double when your child suffers them during co-curricular activities.

Payor benefit

On top of protecting the child, the payor (most likely you) is protected under the plan as well. The benefits do not cover critical illness, but it covers accidental death and permanent total disablement of the payor of the plan. This is the ensure that if anything happens to the payor/parent, there is enough money to tide the family by temporarily.

fundMyLife Review

Interestingly, the AXA SmartCare Junior has several more features compared to its adult counterpart. Even though the plan covers a smaller number of critical illnesses compared to regular critical illness plans, they nonetheless still cover ones that commonly afflict children. It is nice to have a plan that focuses on the needs of a child. On top of that, it bundles critical illness protection together with personal accident and death and permanent total disablement cover as well.

Given how often children get hurt during school, the personal accident cover is great. The doubling of benefits for accidental injuries during co-curricular activities is truly icing on the cake. With personal accident and death and permanent total disablement benefit, you get a relatively more complete set of protection. Another great part is that the payor is protected as well; this covers accidental death and permanent total disablement.

Connect with fundMyLife financial advisers today!

We hope you found that our review for AXA SmartCare Junior was useful! However, once again, we insist that you’d probably still need to consult a financial adviser to assess if you need more coverage for your child.

What’s that? Haven’t found a good financial adviser? Worry not – fundMyLife got you. You can connect with our panel of experienced and awesome financial advisers, curated by us. Head on over to fundMyLife and ask our awesome financial advisers questions. Alternatively, you can check out our curated pool of individual advisers and ask them questions directly.

Been doing lots of research, but not sure who to engage to take the final step? Look no further! fundMyLife connects you to credible and incredible financial advisers privately and anonymously, based on the financial planning questions that you ask. We aim to empower Singaporeans to make financial decisions confidently.

Follow us on our fundMyLife Facebook page to get exciting updates and your dose of finance knowledge! Alternatively, the Insurance Discussion SG Facebook group is a good place to discuss insurance-related topics with fellow Singaporeans.

fML Reviews: AXA SmartCare Critical

AXA SmartCare Critical Review

Critical illness plans are immensely useful when you experience critical illnesses, as you get a lump sum of money to help you cope during recovery. In this article, fundMyLife examines AXA SmartCare Critical and reviews its features.

What is it?

In contrast to the AXA CritiCare For Her/Him and AXA Early Stage Cover, AXA SmartCare Critical is a relatively straightforward critical illness plan that covers 30 critical illnesses at late stage. You can start when you are 18, and it is renewable until you are 65.

Notable features

Four-tiered plans

The table of benefits for the AXA Smart Critical Care. Source: AXA.
The table of benefits for the AXA Smart Critical Care. Source: AXA.

You cannot set exactly how much you want as sum assured. Instead, the AXA Smart Critical Care has four different plans, Plan A-D. Each plan provides a different lump sum payout. On top of that, the plans provide different amounts for the female and male cancer benefits, and daily hospital cash benefit.

Extra benefits for male/female cancer

On top of the usual benefits, you will get extra benefits if you get cancer that affects your sex-specific biological parts. For example, breast cancer for females and prostate cancer for males.

Daily hospital benefits

You get cash benefits whenever you’re hospitalised. This benefit is up to 60 days per insured person. The amount depends on which plan that you’re getting as well.

Affordable premiums

We took the liberty of not only providing the premium table on the brochure, but also plot them for comparison.

Premium table for male non-smoker for the four plans.
Premium table for male non-smoker for the four plans. Source: AXA.
Premium table for female non-smoker for the four plans. Source: AXA.
Premium table for female non-smoker for the four plans. Source: AXA.
Premium table for male smoker for the four plans. Source: AXA.
Premium table for male smoker for the four plans. Source: AXA.
Premium table for female smoker for the four plans. Source: AXA.
Premium table for female smoker for the four plans. Source: AXA.

Furthermore, the affordable premiums are reasonable, as the scope of diseases that the plan covers is relatively less compared to the other plans that we have reviewed.

fundMyLife Review

As basic as plans go, the AXA SmartCare Critical does its job in a cost-efficient manner. However, it covers 30 critical illnesses, instead of the usual full 37. Bear in mind that you’d need complementary plans like early critical illness plans to cover earlier stages of the disease.

Take note that there will not be any benefits given within 30 days of getting on this plan. Similarly, you’d have to wait for 90 days before you can obtain the benefits from getting cancer, heart attack, and coronary artery by-pass. In addition, you must survive for more than 30 days from the date of confirmed diagnosis of the critical illness.

Another con is that plan is yearly newable, meaning that once you enter a new age band you will have to pay a higher premium. However, the premiums remain relatively affordable as long as you go for the ones which best suit your needs.

Connect with fundMyLife financial advisers today!

We hope you enjoyed this article as much as we did preparing it! The AXA SmartCare Critical fulfills the basic need of a classic critical illness plan. Do consider it and approach your financial adviser if you’re interest in it!

What’s that? Haven’t found a good financial adviser? Worry not – fundMyLife got you bro. You can connect with our panel of experienced and awesome financial advisers, curated by us. Head on over to fundMyLife and ask our awesome financial advisers questions. Alternatively, you can check out our curated pool of individual advisers and ask them questions directly.

Been doing lots of research, but not sure who to engage to take the final step? Look no further! fundMyLife connects you to credible and incredible financial advisers privately and anonymously, based on the financial planning questions that you ask. We aim to empower Singaporeans to make financial decisions confidently.

Follow us on our fundMyLife Facebook page to get exciting updates and your dose of finance knowledge! Alternatively, the Insurance Discussion SG Facebook group is a good place to discuss insurance-related topics with fellow Singaporeans.

 

fML Reviews: AXA Early Stage CritiCare

AXA Early Stage CritiCare review

Critical illness can strike whenever, given how prevalent nowadays. This is because chances of you getting a critical illness increases as you live longer. When it happens, you’d need time to recover from the illness. Critical illness plans pay a lump sum of money to help you cope with recovery during the period when you are not working. However, while traditional critical illness plans pay out only in the event that you get a late stage critical illness, new innovative plans like early critical illness plans and multi-pay plans have emerged. In this article, fundMyLife reviews AXA Early Stage CritiCare and explores its notable features. Note: this article is accurate as of Oct 2018.

What is it?

In contrast to AXA CritiCare for Her/Him, AXA Early Stage CritiCare (despite its name) is a critical illness plan that covers early, intermediate, late, and terminal critical illnesses. We wrote about AXA CritiCare for Her/Him – you can read it here. The coverage of the plan is until the age of 75.

Notable features

4-Stage Claim

A summary of the main benefits of AXA Early Stage CritiCare. Source: AXA.

According to the product information, the plan pays out for not only early, intermediate, and advance stage critical illness, but also terminal stage as well. For example, the last benefit kicks in when you get terminal stage cancer.

Under the terminal illness benefit, it says that you will get “150% of the Sum Assured minus all previous claims paid”. As such, if you made a prior claim under either early, intermediate, or advanced stage critical illness, you’d get only 150-100 = 50% of the sum assured. It is most likely that you will get 150% of sum assured, since most sum assured are usually between $50,000 to $100,000. This is aside from the additional benefits that is included in the plan, of course.

Post-Critical Illness Health Checkup

After your first claim, the plan reimburses you for your health checkups. Under this benefit, you can claim up to $2,500 per health checkup per policy year, to a maximum of $7,500. This implies you can have three of theses benefits. Presumably, this feature encourages you to undergo regular health checkups to avoid the worsening of your health. This is especially useful for cancer patients, when cancer patients can experience a relapse within a few years. Catching relapses early can mean between curable and non-curable.

Special condition benefits

On top of the benefits for the 37 critical illnesses, this plan also provides additional benefits for five commonly encounteted special conditions:

  1. Dengue haemorrhagic fever
  2. Angioplasty and Other Invasive Treatment for Coronary Artery
  3. Diabetic Complications
  4. Osteoporosis
  5. Severe Rheumatoid Arthritis

How it works is that when you contract these conditions, you receive either %10 of your sum assured or $25,000, whichever is lower. It means that if your sum assured is $100,000 and you get dengue, you’d receive $10,000 (10% of $100,000). On the other hand, if your sum assured was $300,000 and you got the same disease, you’d receive $25,000 (the maximum) instead of $30,000 (10% of $300,000). You can only claim once per condition, i.e. you may receive 5 times from this benefits.

Premium waiver

After your first successful claim, all future premiums are waived for the rest of your policy duration.

Discounts

We thought this was notable because it is the only plan among other similar plans that mention premium discounts. You get a 10% loyalty discount of the AXA Early CritiCare policy if you got it together eligible basic plans. These plans are:

  1. Term Protector
  2. Term Protector (To Age)
  3. Decreasing Term Assurance
  4. Decreasing Term Assurance (To Age)
  5. Prime Care (Plan 3)
  6. Premier Care (Plan 3 & 4)
  7. Smart PA (Package 3 & 4)
  8. Other basic plans

Note that for Plans 1-4, you have to have at least $300,000 as sum assured.

fundMyLife Review

Wew, what a feature packed product. Given that the plan works on a deduction basis, if your sum assured is lower than the maximum per stage, i.e. $200,000 and below, you’d be done after claiming 150% as advertised most of the time.

This plan is also good as a complementary plan to your AXA plans since there is discount when you buy them together. Presumably, it encourages consumers to stick to AXA and get purchase other plans as well. However, with only five conditions covered under its special condition benefits, there is less coverage for special conditions compared to other plans out there.

One caveat, if you’re price conscious. The AXA Early Stage CritiCare is relatively more expensive if you compare it to other multi-pay plans out there. However, it’s best to check with a financial adviser if this plan is suitable for you.

Connect with fundMyLife financial advisers today!

There you have it, the AXA Early Stage CritiCare in a nutshell. We hope that this article helped in clarifying what it is and its various features. Do consider it and approach your financial adviser if you’re interest in it!

What’s that? Haven’t found a good financial adviser? Worry not – fundMyLife got you bro. You can connect with our panel of experienced and awesome financial advisers, curated by us. Head on over to fundMyLife and ask our awesome financial advisers questions. Alternatively, you can check out our curated pool of individual advisers and ask them questions directly.

Been doing lots of research, but not sure who to engage to take the final step? Look no further! fundMyLife connects you to credible and incredible financial advisers privately and anonymously, based on the financial planning questions that you ask. We aim to empower Singaporeans to make financial decisions confidently.

Follow us on our fundMyLife Facebook page to get exciting updates and your dose of finance knowledge! Alternatively, the Insurance Discussion SG Facebook group is a good place to discuss insurance-related topics with fellow Singaporeans.

fML Reviews: AXA CritiCare for Her/Him

AXA CritiCare for Her/Him review

Critical illness plans are plans that pay a lump sum of money when you are diagnosed with a critical illness. The lump sum of money will then help you during your recovery and absence of work. As regular critical illness plans are meant for both men and women, the benefits can be quite general and does not take into account sex-specific needs. As such, AXA designed a plan called AXA CritiCare for Her and AXA CritiCare for Him for women and men respectively. In this article, fundMyLife reviews AXA CritiCare for Her/Him and looks at its features. Note: this article is accurate as of September 2018.

What is it?

AXA CritiCare For Him/Her benefits in a nutshell. The illustration is the similar for both Him or Her plans. Source: AXA.

AXA CritiCare for Her/Him is a sex-specific critical illness plan that contains four core benefits, covering various stages of illness from diagnosis to treatment/surgery to recovery. The CritiCare series cater to the client’s specific needs, as both sexes have their respective diseases that occur with different probabilities. You can choose to cover yourself for 10 years, 20 years, or to age 65.

Notable features

Sex-specific disease and surgery coverage

As mentioned, AXA CritiCare for Her and AXA CritiCare for Him have vastly different core benefits. The former focuses on cancers that often strike women, such as breast cancer, cervical cancer, ovarian cancer, etc. It also covers reconstructive surgeries for tissue affected by cancer treatment.

On the other hand, the latter focuses on lifestyle diseases that men commonly experience such as heart disease. It covers surgeries that correct heart conditions, like heart valve surgery, heart transplant, coronary bypass surgery, angioplasty, etc.

Bear in mind that not all conditions pay out 100% of the sum assured – some conditions and surgeries pay out only 25% and 50% of sum assured.

Coverage Reset

The coverage resets to 100% after 12 months if there are claims that are less than 100% sum assured in total. For example, a male with $100,000 sum assured gets $50,000 (50%) when he is diagnosed with a testicular carcinoma in situ. 12 months later, his coverage goes back to 100%, which is $100,000. However, he is diagnosed with muscular dystrophy, and he gets another $100,000.

The reset happens only once, and after that the Male/Female Illness component for the plan terminates. The plan will still be in force if the other components have no paid out yet. The total sum assured payout with the reset feature for the Male/Female Illness component will be capped at a maximum of 150% of sum assured.

Free health check-ups

You get to have free health screening from the 25th month of your policy onwards. It’s important to conduct health screenings often because survival increases when you can illnesses early. The reimbursement varies between $100 to $400

Premium waiver

In the case of a critical illness, you do not need to pay premiums for 36 months. You can claim this waiver twice for additional support.

Free coverage for child

The plan also provides $5,000 free coverage for a child, claimable once.

fundMyLife review

AXA CritiCare for Her/Him is a focused plan that complements main critical illness plans. This is because regular critical illnesses do not usually cover the conditions and surgeries that this plan covers. The premiums are relatively cheaper than a full-fledged critical illness plan. However, it is risky to take this on without a proper critical illness plan if your aim is to protect yourself against critical illnesses in the long run. It is also easy to apply for, requiring only four or six questions for application, depending on whether you are a him or her respectively.

The reset feature, when combined with the other categories of benefits means you can get a potential 3.5x your sum assured, plus a little more if you take up the support benefit.

In general, the coverage for sex-specific conditions and surgeries is well thought-out. The plan coverage is only until 65 years old, which is a bummer since there are critical illnesses that occur well beyond that age. There is a $10,000 death benefit, but you’re better off getting a proper life insurance plan.

Connect with fundMyLife financial advisers today!

We hope you found the review useful to answer whatever questions you might have. Not sure whether the AXA CritiCare for Her/Him is suitable for you? You should ask your financial adviser!

What’s that? Haven’t found a good financial adviser? Worry not – fundMyLife got you fam. You can connect with our panel of experienced and awesome financial advisers, curated by us. Head on over to fundMyLife and ask our awesome financial advisers questions. Alternatively, you can check out our curated pool of individual advisers and ask them questions directly.

Been doing lots of research, but not sure who to engage to take the final step? Look no further! fundMyLife connects you to credible and incredible financial advisers privately and anonymously, based on the financial planning questions that you ask. We aim to empower Singaporeans to make financial decisions confidently.

Follow us on our fundMyLife Facebook page to get exciting updates and your dose of finance knowledge! Alternatively, the Insurance Discussion SG Facebook group is a good place to discuss insurance-related topics with fellow Singaporeans.