Looking for insurance policies specifically for women? Here’s what’s available in 2017 and how old you need to be to start buying them.
For women, there are life-threatening and life-changing conditions which can strike at any moment. They are indiscriminate of individual or age, and many of us may not like to consider the affects should they strike. Many of us will also, thankfully, not be affected. But for those considering extra financial peace of mind in the event of a condition of any type, we’ve rounded up some of the most diverse life insurance policies for women on the current market.
1. AIA Glow of Life – Critical Illness Protection
Age range? 16-59 years
Good for? Targeted cover that includes 16-year-olds
The Glow of Life policy is designed to provide financial cover for a range of conditions that are specific to women. These including female cancers, lupus, rheumatoid arthritis and many other conditions which are 100% sum assured. Other conditions, including osteoporosis, are covered but subject to a smaller sum assured. A full list of conditions and the percentage of the sum assured can be found.
The policy rewards loyalty, and for the first five years policy holders can enjoy an additional 5% extra coverage. Furthermore, after three continuous years policy holders will benefit from a complimentary full health check-up, which can be claimed once every two years.
You can find out more about AIA and their Glow of Life policy.
2. DBS Women’s Care
Age range? 18-60 years
Good for? Lump sum cancer cover from S$0.25 per day
Women’s Care with DBS, underwritten by MSIG Insurances, is tailored towards cancer protection. Working alongside regular health insurance plans, policy holders of Women’s Care can benefit from a one-off lump sum to provide extra financial assurance when they need it most.
There are two types of plans, Classic and Premium, which give cover options to suit everyone. Premiums with a Classic plan start from S$0.25 per day, and covers most female cancers as well as the majority of major cancers. For female cancers, policy holders will receive a payout of S$45,000 (Premium) or S$25,000 (Classic). While for major cancers, the payout is S$36,000 (Premium) or S$20,000 (Classic). All payouts and policies work in conjunction with existing insurance policies.
You can find out more about DBS’s cancer-oriented cover.
3. PRUlady with Prudential
Age range? 17-55 years
Good for? Four plans to cover female specific illnesses, with optional maternity cover
Policy holders of PRUlady are guaranteed peace of mind, with the comprehensive policy paying out up to 300% coverage on female-related conditions and procedures. For the first year, there is also a 15% discount on premiums with selected policies. Similarly to the AIA Glow of Life policy, it also offers complimentary health check ups every two years, after the first three years.
The four plans are scheduled to pay out as follows:
Plan A – S$25,000
Plan B – S$50,000
Plan C – S$75,000
Plan D – S$100,000
However, PRUlady is unique as it offers an optional maternity cover add-on, offering peace of mind regarding pregnancy complications, congenital illnesses and hospital care, for a fee corresponding to your plan.
You can find out more about the Prudential PRUlady policy.
4. AXA Mum’s Advantage
Age range? 18-45 years
Good for? Award winning maternity cover
This plan is entirely for pregnancy, and offers both protection and investment. It provides award-winning coverage both during pregnancy and after childbirth, while simultaneously providing a head-start for your child’s financial future. Applications can be made from as early as 16 weeks into the pregnancy, up to 36 weeks.
The protection part of the plan is covered by MumCare. It aims to reduce the costs of pregnancy-related treatments and provides cover in the event of 18 congenital illnesses. This policy applies to more than one foetus (the benefits will apply to each child individually).
The investment part of the plan is covered by INSPIRE FlexiProtector / FlexiSaver. Investment in a wide variety of funds provides financial security for the child. When the policy is transferred into the child’s name, the beneficiary is automatically included in a critical illness rider.
Find out more about Mum’s Advantage.
5. Lady MediCare
Age range? 18-64 years
Good for? Three plans inclusive for older women
Standard Chartered’s Lady MediCare offers three plans (A, B and C) which provide cover for critical illness (up to S$40,000), non-invasive female cancer (up to S$4,000),female related illness (up to S$4,000), hospitalisation expenses for treatment of female-related illness (up to S$20,000), and maternity complications (up to S$4,000).
Premiums are tiered according to age range, and cover is obtainable through renewal for older women (up to 64 years of age). For an 18-30-year-old on the most basic Plan A, cover starts from S$17 a month, although premiums can be paid annually, too.
Find out more about Lady MediCare.
6. Great Eastern Life’s Flexi Maternity Cover
Age range? 18-40
Good for? Flexible add-ons during pregnancy and beyond
The Flexi Maternity Cover policy is similar to AXA’s Mum’s Advantage, but this plan encompasses a wider pregnancy term (from 13-40 weeks). It’s three-year structure provides clear benefits to both mother and child, ensuring peace of mind during and after pregnancy.
For the mother, they will benefit from a S$10,000 pregnancy-related complications benefit. There is also cover for eight types of pregnancy complications, a hospital care benefit and death due to any of the eight pregnancy complications. The mother’s coverage period starts from the policy inception, and is valid until 30 days after the child’s birth.
For the child, they will benefit from a S$10,000 congenital illness benefit. There is also cover for 18 types of congenital illness, hospital care benefit, and death due to any of the 18 congenital illnesses. The child’s coverage period starts from birth, until the end of the third year of the policy (from inception).
Find out more about Flexi Maternity Cover.
If you’re looking specifically for maternity and baby insurance, check out our list for 2017.