AIA launches Singapore’s first-ever insurance policy that covers mental illnesses

SINGAPORE – Insurer AIA has launched Singapore’s first insurance policy offering coverage for mental illnesses.

Named AIA Beyond Critical Care, the plan covers these five conditions:

• Major Depressive Disorders (MDD)
• Schizophrenia
• Bipolar Disorder
• Obsessive Compulsive Disorder (OCD)
• Tourette Syndrome

One in seven Singaporeans experienced a mental disorder in their lifetime, with MDD and OCD among the top mental conditions for which people seek help, the 2016 Singapore Mental Health Study showed. The study was spearheaded by the Institute of Mental Health in collaboration with the Ministry of Health and Nanyang Technological University.

Ms Ho Lee Yen, AIA Singapore’s chief customer and marketing officer, said: “There are many more unreported cases of mental health conditions due to the stigma around mental illnesses, which is why we want to tackle this and help people get the support they need.”

In 2015, Singapore had the highest rate of depression in Asia, a World Health Organization study found.

Today, about three in four Singaporeans with a mental disorder do not seek any help.

On the new move to provide coverage for mental illness, Ms Ho said that it was based on customer insight and health trends.

“We find a balance between providing the best possible benefits for our customers and ensuring that it is sustainable for the business.”

Under the plan, customers may be reimbursed for the cost of their health screening (up to S$200). They will also get access to a health and wellness programme with incentives and rewards.

Besides these, a personal medical case management service will provide independent and global medical advice from diagnosis to recovery.

A phone-line service will also link customers to healthcare practitioners who can provide advice, recommendations and referrals to health, home and care services.

If the customer is diagnosed with any of the five mental illnesses, AIA will pay what it calls a “Mental Well-being Benefit Insured Amount”, which is 20 per cent of the basic plan’s amount with up to S$50,000 for each claim. The total per life limit for all claims is S$150,000.