Last Updated on 16, May 2014
Aviva launch the Aviva MyCare Plus today giving consumer a choice of able to claim based on 2 out of 6 Activities of Daily Living. Its previous product Aviva MyCare, which is still available, pays out based on 3 out 6 Activities of Daily Living.
Aviva MyCare and MyCare Plus are ElderShield Supplement Schemes that expand the coverage of the basic ElderShield plan with additional coverage and benefits for an additional premium.
Aviva MyCare gives customers a choice of:
- Monthly Benefit Amount - choose a preferred monthly payout (inclusive of ElderShield benefit) from a minimum of $600 to up to a maximum of $3,500 (in increments of $100).
- Benefit Payout Duration - choose between up to 12-year (144 months) duration or an unlimited lifetime payout duration.
- Premium Term - choose between paying (i) lifetime or (ii) till 66 (Last premium payment is at age 66 next birthday) age next birthday or for 20 years from age of entry, whichever is later;
Aviva MyCare Plus gives customers a choice of:
- Monthly Benefit Amount - choose a preferred monthly payout (inclusive of ElderShield benefit) from a minimum of $600 to a maximum of $3,500 (in increments of $100).
- Benefit Payout Duration - choose between up to 12-year (144 months) duration or an unlimited lifetime payout duration.
Note that the Aviva MyCare and MyCare Plus may not be suitable for certain individuals.
Like this article? Subscribe to my newsletter below for more.
What do you think? Leave a comment.