SINGLIFE Savvy Invest II
June 18, 2024
HSBC Life Diamond Prestige IUL
June 18, 2024
SINGLIFE Dementia Cover is the first in the market for cognitive decline and mental health coverage. A review of this long-term care protection plan reveals interesting notes worthy of attention.
SINGLIFE Dementia Cover provides additional support for depressive or anxiety disorder, as well as accidental burns or fractures, after the onset of dementia. You can stop paying for the policy and stay covered once you are diagnosed with late-stage dementia and receive the Cognitive Care Benefit.
There is a one-time lump-sum payout of up to S$10,000 under the Emotional Resilience benefit for depressive or anxiety disorder after a dementia diagnosis. This is an emotional helping hand.
A one-time lump-sum payout of up to S$10,000 for medical expenses incurred for accidental burns or fractures following a dementia diagnosis, comes under the personal injury payout.
SINGLIFE Dementia Cover is a standalone plan. You may purchase SINGLIFE Dementia Cover when you are covered under any of the Singlife Long Term Care Plans (i.e., Singlife CareShield Standard / Plus, Singlife ElderShield / Plus)
Some things to note. This review post will get dated. And the product might not be available for new subscriptions at some point. Hopefully this serves as reference for future policyholders who have forgotten what they have taken up.
There can be shifts in planning narratives over time. For example, limited premium tenures gain popularity over the years because people are less confident of their future earning capacity or sustainability of income levels. Regular payout features gained popularity when more and more people are in tune with the FIRE (Financial independence retire early) movement. An extended period of low interest rates brought down insurance products’ returns yield for policy holders, but now in a rising interest rates environment, things are set to change.
SINGLIFE Dementia Cover may or may not fit into your financial plans. Understand that there is no best plan for all time, but there is a method to objectively facilitate your decisions. Read more about it here.
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