What is A-Life CriticalCare?
The A-Life Critical Care from AIA is a whole life policy which will provide coverage against 36 critical illness, death, and total and permanent disablement. The great thing about about this insurance policy is that you will be able to share in the profits of the company, by paying out dividends to policyholders. Bear in mind that these profit earnings are not guaranteed, and the amount you stand to receive will depend on the company's performance.
Who is eligible to buy A-Life CriticalCare?
While other plans only allow babies above 30 days old, the A-Life Critical Care will be available to those aged between 14 days and 60 years old. Once you have signed-up, it will have you covered up to the age of 85.
How much premium do I have to pay annually?
To determine your premium, the underwriting process will involve looking at your overall health condition, smoker status, gender, and age to access your risk class. The premiums for this plan are guaranteed, means you will have to pay a fixed amount for the whole of your protection period. Good news - premiums paid for this plan will be able to qualify for personal tax relief of up to RM6,000 for annual life insurance premium and EPF.
How much is the increasing sum assured?
Your basic sum assured will increase throughout your policy term. Look at the table below:
|Policy Year||Additional Sum Assured (%)|
|2 - 4||10|
|5 - 9||20|
|10 - 14||40|
|15 - 19||60|
|20 - 24||80|
|25 - 30 until age 75, whichever is later||100|
Once I've fully claimed for the A-Life Critical Care, will my policy be terminated?
Once you have claimed for a critical illness, you will still be covered under the death benefit of your policy, which is equivalent to 25% of your basic sum assured, up until the age of 85. You are not required to pay premiums under this extended coverage.