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What are the benefits
covered under MyCare?
When is the Severe
Disability Benefit payable?
How long is the Severe
Disability Benefit payable for?
When is the Lump
Sum Benefit payable?
When is the Rehabilitation
Benefit payable?
When is the Dependant
Care Benefit payable?
When is the Death
Benefit payable?
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MyCare
provides a monthly severe disability benefit. Other
benefits include a lump sum benefit, a rehabilitation
benefit, a dependant care benefit, and a death benefit.
All benefit payouts are in cash, tax-free.
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This
monthly benefit is payable when the Life Assured is
severely disabled and unable to perform at least 3 of
the 6 Activities
of Daily Living.
This
benefit will be payable immediately after the 90-day
deferment period.
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The
severe disability benefit is payable for either
(i) lifetime, or
(ii) 12 years (144 months)
depending on what you have chosen as your benefit payout
duration.
This
benefit continues to be payable as long as disability
lasts, up to the chosen benefit payout duration.
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The
lump sum benefit is payable when the Life Assured is
severely disabled and unable to perform at least 3 of
the 6 Activities
of Daily Living. This additional benefit
is 3 times the first monthly benefit amount and is payable
once in the policy lifetime.
This
benefit will be payable immediately after the 90-day
deferment period.
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When
is the Rehabilitation Benefit payable?
The
monthly rehabilitation benefit is payable when the Life
Assured recovers from a severe disability but is unable
to perform 2 of the 6
Activities of Daily Living. This benefit
is 50% of the applicable Severe Disability Benefit.
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When
is the Dependant Care Benefit payable?
The
additional monthly benefit is payable when the Life
Assured is receiving either the severe disability benefit
or rehabilitation benefit and has a child aged 21 and
below. This additional benefit is $200 per month payable
for up to 36 months.
This
benefit will be payable immediately after the 90-day
deferment period.
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When
is the Death Benefit payable?
The
death benefit is payable in the event of death of the
Life Assured while receiving either the severe disability
benefit or the rehabilitation benefit. This is 3 times
the last paid monthly severe disability benefit or rehabilitation
benefit.
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For
further enquiries,
please contact our Customer Service Centre at 6827
7788.
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