Critical Illness

TM MultiCare: Comprehensive Protection Against Multiple Critical Illnesses

In Singapore, critical illnesses are on the rise, and their impact can be devastating both emotionally and financially. Did you know that every day, 36 people in Singapore are diagnosed with cancer? Or that Singaporeans are at higher risk of heart failure compared to other Asians? These sobering statistics highlight the importance of comprehensive critical illness coverage. If you're looking for a plan that offers protection against multiple critical illnesses, TM MultiCare might be the solution you've been searching for.

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What is TM MultiCare?

TM MultiCare is a regular premium, non-participating critical illness plan designed to provide financial protection against early, intermediate, and advanced stage critical illnesses. What sets it apart is its ability to allow for multiple claims, offering a total payout of up to 900% of the sum assured. This plan is designed to give you peace of mind, knowing that you're protected against not just one, but multiple critical illness occurrences.

Key Features That Make TM MultiCare Stand Out

Multiple Payouts

The plan allows for payouts across early, intermediate, and advanced stage critical illnesses.

Double Advanced Stage Claims

You can make up to 2 claims for advanced stage critical illnesses.

Additional Cancer Coverage

The plan allows for 2 additional claims for major cancers.

High Total Payout

You can receive up to 900% of the sum assured in total payouts.

Special and Juvenile Conditions

Additional coverage for 10 Special Conditions and 10 Juvenile Conditions.

Long-term Coverage

The plan offers coverage up to age 70, 75, or 85, depending on your choice.

Why compare TM MultiCare with other Critical Illness options through Whatins?

Traditional Approach

  • Limited visibility into critical illness definitions
  • Single insurer's critical illness criteria
  • May miss important coverage distinctions

Whatins Advantage

  • Compare critical illness definitions across insurers
  • Understand early, intermediate, and late stage differences
  • See how different critical illness plans complement each other
  • Compare exclusions and waiting periods

In summary: If you want more control and multiple suggestions, then Whatins is the way to go.

How Does TM MultiCare Work?

The critical illnesses are categorized into three groups:

  1. Cancer and Illnesses Related to Major Organs
  1. Heart-Related Illnesses
  1. Illnesses Related to Nervous System and Other Systemic Conditions

This structure ensures that you're protected against a wide range of critical illnesses, and even if you're diagnosed with multiple conditions, you can still receive payouts.

Layer 1: Early/Intermediate Stage Critical Illness Benefit

  • Allows up to 2 claims

  • Each claim pays 100% of sum assured, up to S$350,000

  • Claims must be from different illness groups

Layer 2: Advanced Stage Critical Illness Benefit

  • Allows up to 2 claims

  • Each claim pays 300% of sum assured, minus any Layer 1 claims for the same group

  • Claims must be from different illness groups

  • 1-year waiting period between claims from different groups

Layer 3: Additional Cancer Benefit

  • Allows up to 2 claims for advanced stage cancer

  • Each claim pays 100% of sum assured

  • 2-year waiting period after a Layer 2 claim

  • 2-year waiting period between Layer 3 claims

Additional Benefits

Special Benefit

  • Covers 10 Special Conditions

  • Pays 20% of sum assured, up to S$25,000 per condition

  • Maximum of 5 claims

Juvenile Benefit

  • Covers 10 Juvenile Conditions

  • Pays 20% of sum assured, up to S$25,000 per condition

  • Maximum of 5 claims

Juvenile Waiver Benefit

If the life assured is 18 or younger at entry, waives all future premiums upon a successful advanced stage critical illness claim

Death Benefit

Pays 10% of sum assured upon death, regardless of prior claims

Optional Riders for Enhanced Protection

You can further customize your coverage with optional riders:

  • Waiver of Premium Rider
  • Payer Benefit Rider
  • Enhanced Payer Benefit Rider
  • Spouse Rider
  • Enhanced Spouse Rider

These riders can provide additional financial protection in various scenarios, ensuring that your coverage remains intact even if you're unable to pay premiums.

Real-Life Scenario

Let's look at an example to understand how TM MultiCare works:

Susan, a 30-year-old non-smoker, purchases TM MultiCare with a sum assured of S$100,000 and coverage till age 85.

At age 36, Susan is diagnosed with intermediate stage breast cancer. She receives:

  • S$100,000 (100% of sum assured) from Layer 1
  • S$20,000 (20% of sum assured) from Special Benefit for breast reconstructive surgery

At age 37, Susan suffers a mild stroke. She receives:

  • S$100,000 (100% of sum assured) from Layer 1

At age 43, Susan's breast cancer progresses to advanced stage. She receives:

  • S$200,000 (300% - 100% = 200% of sum assured) from Layer 2

At age 46, Susan has a heart attack. She receives:

  • S$300,000 (300% of sum assured) from Layer 2

At age 48, Susan's advanced stage breast cancer persists. She receives:

  • S$100,000 (100% of sum assured) from Layer 3

At age 50, Susan is diagnosed with advanced stage lung cancer. She receives:

  • S$100,000 (100% of sum assured) from Layer 3

In total, Susan receives S$920,000 in payouts, which is 920% of her initial sum assured.

Pros and Cons

Pros

  • Comprehensive coverage for multiple critical illnesses

  • High total payout of up to 900% of sum assured

  • Coverage for early, intermediate, and advanced stages

  • Additional benefits for special and juvenile conditions

  • Flexible coverage term options

Cons

  • Premium rates are not guaranteed and may be revised

  • Waiting periods between certain claims

  • Maximum entry age is not specified in the provided information

Frequently Asked Questions

Can I make multiple claims for the same critical illness?

Yes, but there are restrictions and waiting periods between claims.

What happens if I'm diagnosed with a critical illness not listed?

The plan covers 40 critical illnesses. If your condition is not listed, it may not be covered.

Can I change my coverage amount later?

You should check with Tokio Marine about options for adjusting your coverage after purchase.

Is there a survival period for critical illness claims?

The brochure doesn't specify a survival period, but it's common for critical illness plans to have one.

How do premiums change as I get older?

Premium rates are not guaranteed and may be revised by Tokio Marine with 30 days' notice.

Conclusion

TM MultiCare offers a comprehensive solution for those seeking protection against multiple critical illnesses. With its layered structure and high total payout potential, it provides a safety net that goes beyond traditional critical illness plans. The additional coverage for special and juvenile conditions adds another layer of protection, making it a well-rounded option for many.

However, as with any insurance decision, it's crucial to carefully consider your personal needs, health history, and financial situation before making a choice. While TM MultiCare offers extensive coverage, it's important to understand the terms, conditions, and potential premium changes.

Remember, the best insurance plan is one that gives you peace of mind and fits your specific circumstances. If you're considering TM MultiCare or any other critical illness plan, it's always wise to consult with a financial advisor who can provide personalized recommendations based on your unique situation.

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By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best coverage for your needs. Don't leave your protection to chance – get the expert advice you deserve today.