AIA Di­a­betes Care: En­sur­ing a sweeter fu­ture for di­a­bet­ics in Sin­ga­pore

In­sur­ance gi­ant AIA fills in the gap with Sin­ga­pore’s first di­a­betes in­sur­ance plan.

Singapore Business Review - - CO-PUBLISHED CORPORATE PROFILE -

Th­ese days, it is al­ready quite easy to gain peace of mind and get in­sured against nearly all types of dis­eases, thanks to a num­ber of com­pre­hen­sive in­sur­ance pack­ages be­ing of­fered to the public. But the sit­u­a­tion may be less as­sur­ing for those af­flicted with di­a­betes.

A se­ri­ous con­di­tion

Di­a­betes is con­sid­ered one of Sin­ga­pore’s most se­ri­ous ill­nesses. Ac­cord­ing to data from the Min­istry of Health, in 2014, 440,000 Sin­ga­pore­ans aged 18 and above had di­a­betes. This num­ber is pro­jected to bal­loon to 1 mil­lion by 2050.1

Dr Abel Soh, an en­docri­nol­o­gist at Mt El­iz­a­beth Med­i­cal Cen­tre, notes that the num­ber of peo­ple with di­a­betes mel­li­tus in Sin­ga­pore is grow­ing at an alarm­ing rate, with more di­ag­nosed at a younger age. In fact, Sin­ga­pore Gen­eral Hos­pi­tal data re­veal that more peo­ple are get­ting di­a­betes be­fore 40. “To make mat­ters worse, many in­di­vid­u­als do not even know that they have di­a­betes un­til com­pli­ca­tions arise,” adds Dr Soh. Di­a­bet­ics are also at a higher risk of de­vel­op­ing other con­di­tions such as car­dio­vas­cu­lar is­sues, blind­ness, stroke, and even kid­ney fail­ure.

But de­spite th­ese wor­ry­ing sta­tis­tics, only a small num­ber of Sin­ga­porean di­a­bet­ics find them­selves prop­erly in­sured. In or­der to meet this de­mand for in­sur­ance for di­a­bet­ics, in­sur­ance gi­ant AIA Sin­ga­pore re­cently rolled out AIA Di­a­betes Care, Sin­ga­pore’s first in­sur­ance plan de­signed for Type 2 di­a­bet­ics and pre-di­a­bet­ics.

“Deal­ing with di­a­betes is a life­long chal­lenge, and we want to help Sin­ga­pore­ans and their fam­i­lies as they fight their per­sonal bat­tles. We be­lieve ev­ery­one de­serves the cov­er­age they need, es­pe­cially af­ter be­ing di­ag­nosed with a chronic ill­ness,” says Ms Ho Lee Yen, Chief Mar­ket­ing Of­fi­cer of AIA Sin­ga­pore.

Gen­er­ous ben­e­fits

The plan pro­vides “ac­cess to di­a­betes com­pli­ca­tions in­sur­ance for those who need it the most, but find it im­pos­si­ble to ob­tain – by en­sur­ing has­sle-free un­der­writ­ing, im­me­di­ate un­der­writ­ing de­ci­sion, and no ex­tra pre­mi­ums”, says Ms Ho. She also adds, “With AIA Di­a­betes Care, we hope to equip in­di­vid­u­als with the tools to suc­cess­fully man­age their con­di­tion, and also give them the added peace of mind from know­ing that they are ad­e­quately cov­ered. Ul­ti­mately, our aim is to em­power Sin­ga­pore­ans and their fam­i­lies to live longer, health­ier, bet­ter lives.”

AIA Di­a­betes Care pro­vides key ben­e­fits for its pol­i­cy­hold­ers, firstly by guar­an­tee­ing eas­ier ac­cess to pro­tec­tion and cov­er­age for five key di­a­betes-re­lated com­pli­ca­tions – blind­ness, kid­ney fail­ure, stroke, heart at­tack, and coro­nary artery by-pass surgery – with guar­an­teed level pre­mi­ums that re­main un­changed through­out the whole pol­icy. Pol­i­cy­hold­ers may also opt for an add-on pro­tec­tion with Can­cer Cover, pro­vid­ing ad­di­tional pro­tec­tion for early or in­ter­me­di­ate stage can­cer and ma­jor can­cer.

As a type 2 di­a­betes, you can still con­tinue to live a ful­fill­ing life by lead­ing an healthy life­style through eat­ing healthily, ex­er­cis­ing more and los­ing weight, go­ing for reg­u­lar screen­ings, stop smok­ing and re­duc­ing al­co­hol in-take2 - A 1% drop in HBA1C lev­els low­ers the risk of di­a­betes­re­lated com­pli­ca­tions sig­nif­i­cantly – such as am­pu­ta­tions by 43% and mi­crovas­cu­lar com­pli­ca­tions by 37%.

To mo­ti­vate pos­i­tive be­havourial change, AIA Di­a­betes Care fea­tures sev­eral AIA Vi­tal­ity en­hance­ments that re­wards you for each healthy choice you make, how­ever small. AIA Vi­tal­ity mem­bers are able to en­joy up to 15% dis­count on fu­ture pre­mi­ums, dis­counted health screen­ing pack­ages, and ac­cess to a healthy eat­ing pro­gramme based on their Vi­tal­ity Nutri­tion Assess­ment3 - A value un­seen in any other in­sur­ance pack­age. “We want to score against di­a­betes through pro­tec­tion, im­prove­ment, and preven­tion,” says Ms Ho.

A pow­er­ful plan

“As it is a chronic con­di­tion, I know of in­di­vid­u­als with di­a­betes who strug­gle emo­tion­ally and fi­nan­cially, hav­ing to deal with the con­se­quences of the dis­ease,” says Dr Soh. Ac­cord­ing to Ms Ho, the roll­out of AIA Di­a­betes Care is rooted in AIA Sin­ga­pore’s strong be­lief in the suc­cess of pri­vate-public part­ner­ships, es­pe­cially in the area of health­care. “We strongly be­lieve that there is a sig­nif­i­cant role the pri­vate sec­tor can and should play in this na­tional move­ment to sup­port the nu­mer­ous gov­ern­ment-driven ini­tia­tives such as the re­cently an­nounced en­hance­ments to screen­ing sub­si­dies to curb di­a­betes in Sin­ga­pore,” she says.

Ms Ng Ying Ying, a teacher with di­a­betes, re­calls, ”As a type II di­a­betic, any di­a­betes­re­lated con­di­tion would be ex­cluded from new in­sur­ance poli­cies as a pre-ex­ist­ing con­di­tion. This meant that if I wanted to pur­chase ad­di­tional cov­er­age, my pre­mi­ums would be very high or my ex­ist­ing con­di­tion may even be ex­cluded. There were also no avail­able in­sur­ance plans of­fer­ing suf­fi­cient cov­er­age for type II di­a­betes to be­gin with.” She is de­lighted that AIA Sin­ga­pore is cham­pi­oning this cause with AIA Di­a­betes Care to give peo­ple eas­ier ac­cess to pro­tec­tion and fi­nan­cial se­cu­rity.

“With AIA Di­a­betes Care, we hope to equip in­di­vid­u­als with the tools to suc­cess­fully man­age their con­di­tion, and also give them the added peace of mind.”

Em­pow­er­ing di­a­bet­ics to live life to the fullest

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