Manulife Health Insurance Introduction:
The onset of cancer for Ms. Michelle’s brother was evidently a tough phase for the family, emotionally and financially. It was a three-year battle with the disease for Michelle and her mother, both of whom were working. A measly health insurance taken by her mother years ago was not enough to cover costs of frequent hospital trips, chemotherapy, and subsequent home care. Fortunately, her brother recovered though they are saddled with a huge debt they are still paying.
Ominous as it sounds, the above situation is something that can happen to anyone. Hence in the age of rising medical expenses, health insurance is something you simply cannot do without to be on the safe side. While selecting a health insurance provider is a decision that needs some serious thought, it is easy to lose it in the terms, constraints and conditions hidden behind fine print, the deductibles and co-pays, lifetime caps and yearly limits. Compare and analyze carefully which health insurance fits your requirements.
About Manulife Insurance:
Incepted in 1980, Manulife Singapore offers single-stop solutions to meet the financial requirements of people at various phases of their lives. Life insurance, post-retirement solutions and money management products, you name it they deliver it. Manulife Singapore dispenses its services through several dedicated partners, including banks and financial consultancy companies. With a strength of over 200 employers, it has garnered a sizable asset of SGD 5 billion under their expert administration.
Types of Manulife Health Insurance:
Manulife provides 4 kinds of health insurance.
- ManuCompleteCare (I) Health Insurance
With tremendous medical progressions and the increasing promotion and popularity of regular health screening, timely detection of life-threatening diseases is quite common. This of course improves chances of a complete recovery. But it is as essential to have a suitable health cover to help you manage the expenditures occurred during treatment. ManuCompleteCare is a terminal illness cover plan created to give you that much-needed financial backing for recuperation of serious diseases, even in the preliminary stages.
Features & Benefits of ManuCompleteCare:
- You may make use of the ManuCompleteCare disbursement to pay for outlays not covered by your medical indemnity or others like your loans, children's studies, or even as an additional income.
- It pays the assured amount from primary to late stage serious disease for those listed under Comprehensive Critical Illnesses (e.g. cancer, heart valve operation and kidney failure) as per the company guidelines.
- You get an added payout of 100 percent over and above the assured amount for Acute Conditions such as Alzheimer’s and leukemia.
- It disburses an extra SGD 25,000 for insured Special Benefit Illnesses like Diabetic complications.
- You can also avail an extra 20 percent of the assured sum (capped at SGD 25,000) for Special Benefit conditions listed by the firm.
You never know when a life-threatening disease will strike; like Damocles Sword, the possibility is always hanging there though we do not ponder over it much. And when it does, the outcome is substantial financial burden. Taking a step now can ensure peace of mind as life will not go out of pace when challenged with a grave illness. mEase secures you financially against 37 critical diseases, disability and demise, making you more self-reliant to handle challenges thrown at you.
Features & Benefits of mEase:
- mEase pays a Compassionate Death Benefit of SGD 10,000 and the entire assured amount upon disability or identification of any of the listed critical illness.
- You can avail 10 percent of the assured sum to pay for Angioplasty & other Invasive Cure for Coronary Artery.
- mEase offers conversion privilege, meaning it can be changed to any Manulife (Singapore) regular premium life insurance plans of same cover. This is applicable for only those aged below 65.
ManuMediCash is basically an independent hospitalization income policy that grants you money for everyday expenses in the hospital including room charges. Your family can meet extra expenses due to your hospitalization or help you in looking for other healthcare options for a faster recovery.
Features & Benefits of ManuMediCash:
- Everyday Hospital Income Benefit for clinic confinement in Singapore or abroad due to illness is the major benefit. But you get double the amount for hospitalization caused by an accident.
- You are also entitled to a daily allowance during days of rest after getting discharged.
- If you go through day surgery without hospitalization or overnight stay, a Day Surgery Income Benefit is granted.
- You can avail an exclusive one-time lump amount called Baby Bonus Benefit, if one or both of the parents has a life insurance.
As costs of medical treatments continue to escalate, there is a growing risk of depleting a major chunk of your savings in the event of an unexpected health contingency. ManuCare Health Insurance Plan secures your hospitalization bills like the ManuMediCash. But it also offers emergency assistance round-the-clock.
Features & Benefits of ManuCare:
- You will get a refund for your whole hospital bill, which is bound by three limits - room rent, yearly limit and whole lifetime limit.
- You can enjoy a long-lasting cover with yearly renewal up to age 75 irrespective of your health condition at the time.
- You can select any of the four plans that suit your requirements and lifestyle, namely, Executive, Deluxe, Premier and Elite
- There is also a complimentary 24-hour emergency assistance services for ManuCare Deluxe, Premier and Elite policy holders.
Eligibility & Documentation of Manulife Health Insurance
- The applicant should be a Singapore citizen or have the relevant visa.
- He/ she should be of age 18 and above.
- The relevant income proofs such as salary slips, IT papers, bank statements and contact details of employers/ clients have to be submitted along with the most recent medical certificate.
- You should also submit a copy of an identity card and address proof.
Compare Manulife Health Insurance With Other Insurance Companies Offering Health Insurance in Singapore
- AIA Health Insurance
- NTUC Health Insurance
- AVIVA Health Insurance
- AIG Health Insurance
- Great Eastern Health Insurance
- Prudential Health Insurance
- Tokio Marine Group Medical Insurance
- AXA Health Insurance
- Liberty Medical Insurance
FAQs - Manulife Health Insurance
- What if I change my mind after applying for cover?
Once you get your Policy or Insurance Certificate, go through it. If you are not happy, just return the Certificate to the nearest Manulife Financial branch in a month and request for a cancellation or another cover. Even your premiums will be reimbursed.
- When will my coverage start?
As long as you are qualified to apply, your coverage will commence on the day your duly filled application reaches the Manulife Financial office.
- What if I am a smoker?
Your rates will be higher if you are a smoker. You are eligible to Non-Smoker rates for some health insurance plan if it is proved that you have not smoked for the past one year.
- What should I do when I get my Premium Notice?
If you are paying by credit card or Pre-Authorized Collection (PAC), the money will be charged and debited from your account. Else you can either pay by cash or cheque directly or send by post.