Aviva Insurance Singapore– All You Need To Know About the Company and the Policies They Offer in Singapore
Aviva Insurance is a UK company headquartered in London, operating in several countries globally, including Singapore. The company entered the Singapore Insurance Market in 2001 as Aviva Insurance Singapore, and it has since grown to be among the top providers of long-term savings products. Currently, the company controls almost 30% of the insurance market in Singapore, and it is among the leading employee benefits and health insurance Singapore providers offering protection to nearly 600,000 employees.
With experience in customized solutions and comprehensive health and life insurance Singapore products creation, the company offers products suiting both business and individual needs. Aviva provides its customers a range of flexible plans, including unit trusts, through a platform that aggregates and follows customer’s investment portfolios. Here are some of the covers that Aviva Insurance Singapore offers:
There are two life insurance plans, including whole and term life insurance plans. The whole life insurance Singapore plan covers for a long period, and it seeks to offer lifelong protection while helping the client accumulate cash. The Aviva whole-life insurance plan has several benefits. They include options for higher coverage, lifetime cover, choice of the premium payment period, bonuses and money, the alternative to receive monthly income, interest waivers if premiums are on hold, and increased coverage at important life events. T
he term life plan is for those looking for coverage for a given period without wealth accumulation. With the plan, you get a lump sum payout in case of terminal illness, flexible coverage, the option to renew the term policy, flexibility to increase coverage, and the option to convert the plan without medical underwriting to a whole life plan.
Aviva health insurance plans can be costly, but they offer more coverage, including in-patient psychiatrist rare and preventive cancer treatment, overseas planned treatment cover, and rider discounts for children. Aviva MyShield health insurance covers pre-and post-hospitalization expenses for private and public hospitals and treatment with a high policy year limit of up to $2 million for MyShield Plan 1. Other benefits include $50,000 cover for newborns up to 6 months, hospitalization deposit of $50,000 via Letter of Guarantee for 20 hospitals, and discounted rates for kids up to 20ANB. The MyHealthPlus Option A-II and Option C-II cover 50% of the co-insurance amount under the MyShield Plan with a maximum of S$3,000 per year. The plan covers ambulance fees to hospitals, global treatment, and a lump sum critical illness payout of S$10,000 per lifetime.
Aviva car insurance Singapore is among the best car insurance covers in the country, with 24/7 roadside help whenever you need it. The car insurance covers claims promise whereby any damage that is not your fault leaves your No Claims Discount (NCD) intact without excess upfront payment, least NCD penalty on car insurance claims, and no additional excess for inexperienced drivers with the Prestige Plan.
If you are looking to travel or go on vacation, Aviva Travel Insurance can cover your needs. There is single travel insurance for single trips for around 182 days which is ideal for long trips, honeymoons, and family holidays. If you will have only two travels per year, this plan makes sense. On the other hand, the annual multi-trip insurance covers unlimited annual trips covered for 90 days. If you are a frequent traveler, a yearly travel insurance plan is ideal for you. Aviva travel insurance covers loss of baggage, loss of frequent flyer points, rental vehicle excess, personal liability, overseas medical expenses, trip interruption, trip cancellation, travel date change, and accidental disability & death.
This is a budget home protection plan, and it’s one of the most affordable home insurance in Singapore, making it ideal for tenants and homeowners. The plan is available in three tiers, and it offers coverage on damaged property, including a catastrophe such as fire, pipe burst, or explosion leading to water damage. The plan offers low-cost home coverage with add-ons of its higher-tier plans, and you can receive claims through PayNow. Aviva home insurance Singapore costs $69.38 per year for the Home Lite Plan, and the Home Plus plan costs around S$211.25 per year.
The company offers a saving plan for your child’s education under the MyEduPlan, ensuring your child’s education is secured. The policy is 100% Capital Guaranteed at the end of the plan term, and it is among the top child insurance plans in Singapore. You will receive payouts to your child’s university education with six guaranteed cash payouts for annual education fees. You can choose between two available Payout Ages as per your need, and at the end of the policy term, you will receive bonuses.
Personal Accident Insurance
You can protect yourself and your loved ones with a personal accident insurance plan from Aviva. The plan offers comprehensive protection against accidents globally, and when you purchase the cover online, you will receive protection against unexpected accidents. There are four tiers of the MyAccidentGuard plan covering ambulance services, accidental dismemberment/death, the daily cash-out payout for hospitalization.
Other Insurance products
Public Officers Group Insurance Scheme is a life protection insurance plan for those working in the public service. POGIS provides a lump sum payout in case of death, permanent or total disability, or terminal illness. You also get up to S$500,000 coverage for your family and free coverage for children between 12 months and six years if both parents have a POGIS plan. There is the additional payout for accidental death with a lump sum of 25% of the coverage amount and an additional 1% payout per month for TPD for two years. Also, there is an alternative to enhance the coverage with critical sickness add ons.
MINDEF & MHA Group Insurance
Aviva offers the MINDEF and MHA Group Insurance plan to recognize national security contributions to give your family peace of mind. The scheme comprises Group term Life, in which there is S$1 million coverage for S$1.37 per day for all dependants, and the Group Personal Accident plan offers 24/7 protection against accidents.