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Disability Income

Compare Disability Income
Insurance Plan Singapore

Compare Disability income insurance and get the best work disability income coverage that suit your needs.
Get monthly income in the event of partial and total disability.
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AIA Premier Disability Cover
Features
Deferment Period of 60 days
Coverage till Age 65
1 out of 5 ADLs for first 24months and 2 out of 6 ADLs 25th month onwards for unemployed or self employed
No reduction in coverage for changing or quitting your job
Annual Premium
$612.00/year
Sum Assured
$3,000.00/mth
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  • Premium rates are based on the dates such rates were generated by us. Actual rates may differ from those currently offered by the respective insurers.
  • Premium rates are for standard terms and do not take into consideration lifestyle, health condition, occupation or any other factors that may cause rates to differ or any policy coverage exclusions offered by the insurer, where applicable.
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FAQs

What is Disability Income Insurance?

The disability income insurance is a standalone term insurance plan that pays you a fixed monthly income for a period upon your inability to work in your own occupation or the inability to perform a stipulated number of daily activities such as washing, toileting, feeding, dressing, mobility and transferability.

What is the maximum coverage amount I can get?

You can get covered for up to 75% of your last drawn fixed monthly income

What is the maximum age I can be insured up to?

Up till the age of 65.

What is the difference between Disability Income Insurance and Total and Permanent Disability Insurance?

Disability income is a grossly overlooked insurance plan, it is commonly confused with a total and permanent disability insurance which pays a lump sum upon severe disability diagnosis.

Total permanent disability (TPD) coverage usually come along as an accelerated rider to a death coverage in a life insurance plan.

What are the criteria to claim for total and permanent disability insurance?

The criteria for total and permanent disability are generally more stringent, not only must you be totally disabled, the condition must be able to last through 6 months on the following definitions in order to make a claim:

  • The inability to do 3 out of 6 activities of daily living (ADLs) or;
  • The inability to work in any occupations & or;
  • The loss of use of both sights, feet at or above the ankle, hands at or above the wrist or any one sight and one limb; one hand and one foot.

What are the criteria to claim for disability income insurance?

The disability income plan provides a monthly income pay-out right after 2 or 3 continuous months of waiting period should:

  • The insured be unable to carry out the material or substantial duty of his/her own occupation within the first 24 months
  • And continues to pay should the insured remain unable to carry out any occupation to which him/her is reasonably suited by reason of his/her training, experience and education from the 25th month onwards.

What if I recovered and go back to work but my income dropped because of my disability or illness?

The disability income insurance may continue to protect you by providing top-ups in proportioned to the percentage of reduced income if you can eventually resume working yet find a job that pays less than the monthly income you used to earn before disability.

Why should you get Disability Income Insurance?

Disability income insurance fills in the coverage gap by paying you a monthly income especially when you fall into the category of being disabled but not serious enough to claim for total and permanent disability.

If you are concerned about the event of being ill and disabled and unable to work but still must provide for your family and your own monthly expenses, the disability income insurance is a plan you should consider.

I am self-employed or unemployed, can I get disability income insurance?

On top of providing employees coverage for partial disability, disability income insurance is eligible to be purchased by the self-employed and unemployed under a different claim definition.

The definition for claim on self and unemployed is based on the inability to perform certain activities of daily living.

What if I stop working for a year or two, do I need to terminate my disability income policy?

Disability income insurance continues to provide coverage for you with a different claim definition even if you eventually become unemployed for a period of time, however, different insurers will have a different claim condition during such scenarios.

What if I change job and my income decreases, do I need to reduce my coverage?

It depends on the insurer, one company may not require you to reduce your coverage, while another company may require you to reduce your coverage to 75% of your latest salary. You may find out more by making an enquiry.

Do I need to make any declaration upon a change in my occupation or job scope?

Yes, as the structure and premium of the plan is pegged to your job scope and occupational risks.

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