Disability Income Plans

What will happen if you are unable to continue working due to a disability?  

An unexpected accident or illness can sometimes disable a person.  

Consider these facts:

• 1 in 3 workers will become disabled for a period of 90 days or more before age 65  
• The average disability absence is two and a half years  
• 1 in 7 workers will be disabled for 5 years or more before they reach 65  
• 3-4% of Singaporeans are estimated to be currently disabled and unemployed   

The impact of this disability is a loss of income, and even if you can return to work it may be to a lower paid job due to some level of ongoing disability or illness. This is the real disability cover you need to look into.

With the loss of income, would your family be able to cope with the living expenses?

Have you found the best protection against Disability yet? What is Disability Income Plans?

Disability Income is a plan specially designed to protect your income against disability. 

• Covers both Permanent and Temporary disability
• Total Disability Benefits – up to $15,000 pm 
• Partial disabilitybenefits  – in the event you cannot return to the same level of income 
• Covers disability from both illness and accidents 
• Multiple Claims– even for the same illness 
• Covers up to 75% of your regular income 
• Pays a monthly benefit until your expected retirement  
• No lifetime limit 
• Worldwide coverage – will cover you even if you are abroad 
• Rehabilitation benefits – to pay for the cost of getting you better 
• Escalation benefits – to protect against inflation 
• Tax free benefit – the monthly disability benefit you will receive is not subject to income tax 

Why do you need a Disability Income Plan?

Most people believe that they do not need a policy to protect their expenses as they are well covered by other policies. The truth is, apart from the usual risk that we are concerned with such as Death, Critical Illness etc, there are many other risk which we are barely covered from.

Traditional life insurance policies only pay out if the disability is total and permanent. In fact many disabilities are temporary and partial, the average disability absence being only 2-3 years.

Here Is An Example To Illustrate How This Works.

Mr Tan is 35 years old, a non-smoker and works as an accountant. He has a disability income policy with monthly benefit of $5,000, deferred period of 6 months and benefit period to age 65, and pays $1,033 per year for the cover.

Let's say at age 45, due to an illness or injury, Mr Tan is given medical leave for 9 months. After the deferred period of 6 months, he would receive a payout of $15,000 (i.e. $5,000 @ 3 months) in total disability benefits over the next 3 months.

For the past 10 years, Mr Tan has only paid $10,330 (i.e. $1,033 @ 10 years) in total premiums.

What if he could not work for 24 months? He would receive a payout of $90,000 (i.e. $5,000 @ 18 months) in total disability benefits over the next 18 months. In addition, his premiums for the past 18 months would be waived.

Now, what if his illness or injury was very severe and he could not work indefinitely? The insurer would continue to pay the total disability benefit of $5,000 to him until the policy expired at age 65. Mr Tan would have received a substantial payout of $1,170,000 (i.e. $5,000 @ 234 months) in total disability benefits and he would have only paid $10,330 in total premiums!  

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Let's Take A Look At The Common Misconceptions:

• I have a policy that covers me for Total Permanent Disability (TPD)     

This only covers very severe and  permanent disability.This is a less frequent event.

It is useful to have but falls well short of the real disability cover needed.

• I have a Critical Illness policy 

Critical Illness policies only cover a specific number of illnesses, usually 30.  

Critical Illness policies work well to provide a lump sum in the event of a covered critical illness. But it falls short of the real disability need.

• I have medical insurance 

Medical insurance and MediSave can help you pay medical bills, but they do not replace

your income.

• My employer will pay me 

Most employers define how long you will receive your salary in the event you  are unable

to work. In Singapore this is often between 1 and 3 months. A kind employer may extend  this for a bit longer, but for how long ?

• My savings or my family will help 

Yes of course you can rely on your savings or your family, provided there are sufficient  funds available and you feel comfortable doing this. Unfortunately most people do not have enough savings and most do not want to be a burden upon their families 

What can you do about it?

1.  Worry. 

2.  If you don't find Option 1 acceptable, then we need to find a solution that will help

    take care of this need.

Call us now and get more information on the most comprehensive Disability Income Plan in the market.

Find out how you can Get Paid for being disabled. Protect your family expenses now!

Enhance Your Eldershield Plans

Do you know that you can enhance your Eldershield cover, Without Paying Any Cash? 

Severe disability can happen to anyone at anytime at any age. Chronic Illness, accidental injuries or age can all lead to disability whic can affect you and your family's lifetsyle and finance. When this happens, the care needed can be costly and last for a prolong period of time.

Use CPF approved Enhanced Eldershield plans to fund part of your Disability Income Plans. We will show you how.

Your current Eldershield plan provides only a basic level of cover - only $400 per month for 6 years.

With Enhanced Eldershield , you can transform your Eldershield cover into lifetime benefits of higher benefit payouts with premuims that do not change with age.

Call us now for an appoinment and we will show you how to get :

Unlimited Payout Term

Meaning you receive monthly payouts for the rest of your life, should severe disability persist. (Up to 2k per month) Payouts are in cash , so you can use it as you like with no restrictions.

Limited Premium Payment Term For Lifetime Cover

You can stop paying the premiums at age 67 and yet still get coverage at any age, should disability strike. Moever, premiums are waived during benefit payouts.

Dependant Care Benefits

Additional $200 pm for 36 months if you have children below 21 when disability strikes.

Rehabilitation Benefits

 – recover & still receive 50% benefit payout 

Cash-free Payment With CPF Medisave – you can use medisave funds up to $600 per year per person. You also have the flexibility to use the medisave of your spouse, children, parents or grandchildren. 

Sign up now & enjoy special prices from National Healthcare Group (NHG) for selected services such as :

• health screening
• podiatry services at the S'pore Footcare Centre  
• dietician counseling   
• homecare equipments & products from NHG Pharmacies   
• workshops for caregivers on basic care management skills 

(terms and conditions apply) 

Let us help you with your Disability Income Planning Needs through our FREE Financial Planning Clinic . We will help you to get the right plans that is specifically tailored to your needs and budget.

We want to help you make financial planning as easy as 123.

Contact us at  and we will help you shop for the best package in the market!