Insuring Your Own Career?
What happens if you can’t work?
Many of you are familiar with the idea of buying insurance to protect your loved ones from financial burdens when death strikes, especially when you are the main breadwinner.
But what if a debilitating sickness strikes and it is not on the list of 30 ailments included in the critical illness cover you bought?
What happens if a sickness or an injury prevents you from pursuing your current career? You may not become physically or mentally impaired and may have to stop work or seek other forms of employment that may not pay as well.
AIA, Aviva and Manulife provides for such disability cover.
Option 1: AIA and Aviva Disability Income
Under AIA and Aviva IdealIncome claim definition, for the first 24 months, as long as the person is unable to perform material duties in his/her own occupation upon continuous disability beyond the Deferred Period (3 to 6 months) due to illness or accident, a monthly income will be payable. For the period after the first 24 months till his/her retirement age (55/60/65), the monthly income will be payable as long as he/she is unable to perform the material duties of any occupation or profession to which he/she is suited by reason of training, education or experience.
Option 2: Manulife Career Plus
Under the Manulife ManuTerm Career Plus claim definition for the first 2 annual payments, as long as the person is unable to work in his/her own occupation due to bodily injury or disease, the benefit will be payable. For the next 3 annual payments, should he/she be unable to work in any occupation which he/she is suited by education, training or experience.
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