I attended NTUC Income’s event this morning for the launch of VivoCare, a whole life policy that primarily focuses on providing early stage critical illness cover.

Traditional critical illness policies typically define critical illnesses as “late stage” conditions. For instance, a payout will be made only if both kidneys have failed. Under an “early payout” policy, the surgical removal of a single kidney can be admitted for a claim.

The policy pays 50% of the sum assured subject to a maximum sum of $75,000 plus pro-rated bonuses the policy has accumulated for diseases classified as “Early Stage”. Remaining sum assured subject to a maxiumum sum of $150,000 plus pro-rated bonsues will be paid for diseases categorised as “Intermediate Stage”.

E.g. If a person purchases a $100,000 VivoCare policy and meets the definition of one of the early stage critical illnesses, he will receive a claim amount of $50,000 (50% …