Homegrown monetary providers firm Singlife has unveiled the Singlife Dementia Cowl, an insurance coverage plan out there providing annual payouts for these dwelling with dementia and different psychological well being points.
This was made doable by a partnership with Dementia Singapore, which is able to present coaching to Singlife’s monetary advisers and staff.
This coaching goals to enhance their understanding of cognitive decline and the influence on caregivers.
Singlife’s group may even volunteer in Dementia Singapore’s group outreach programmes.
In keeping with a 2015 research by the Institute of Psychological Well being, one in 10 individuals aged 60 and above in Singapore has dementia. By 2030, this quantity is anticipated to double to 152,000.
The Singlife Dementia Cowl is a long-term care safety plan providing annual payouts of as much as S$10,000 for dementia and psychological well being circumstances like main depressive dysfunction, schizophrenia, and bipolar dysfunction. The protection extends till the age of 99.
Upon a dementia analysis, the plan gives a lump-sum payout of as much as S$10,000 for depressive or nervousness dysfunction, with an extra lump-sum payout for medical bills associated to unintentional burns and fractures.
After a late-stage dementia analysis, policyholders can cease premium funds and proceed receiving annual payouts for as much as 10 years.
Key Advantages and Options
Each organisations will pool their sources to assist these with dementia and their caregivers. Singlife will supply complimentary advantages and unique reductions by Dementia Singapore’s CARA app.
Via Singlife’s partnership with Mirxes, CARA app members can e book a complimentary Precision Neighborhood Screening (PCS) package deal at Dementia Singapore’s group outreach applications.
This initiative goals to lift consciousness about early illness detection and encourage proactive well being administration.
Singlife’s collaboration with Dementia Singapore is a part of the Singlife Care Collab, a one-stop well being providers hub providing preventive care, long-term care, and different providers.
Launched in September 2023, Care Collab contains companions just like the Company for Built-in Care, Homage, and Parkway Most cancers Centre. New companions embody Merely Wills, Immortalize, Physician Anyplace, and Helpling.
Singlife may even collaborate with the Company for Built-in Care to lift consciousness of the Put up-Diagnostic Assist Neighborhood Outreach Group (CREST-PDS) programme.
Moreover, psychological well being and dementia consciousness coaching will probably be made obligatory for Singlife Relationship Consultants.
Pearlyn Phau
Pearlyn Phau, Group Chief Govt Officer, Singlife stated,
“Singlife Dementia Cowl may also help alleviate a few of the monetary challenges of dementia, however we predict it’s extra vital to lift consciousness of how we will enhance the wellbeing of individuals dwelling with dementia and their caregivers holistically.
Dementia impacts not solely these dwelling with it but additionally the caregivers who usually prioritise their family members’ wants over their very own wellbeing. We’re happy to collaborate with Dementia Singapore to boost assist for the dementia group and the well being and wellbeing of their caregivers.”
Jason Foo
Jason Foo, CEO, Dementia Singapore stated,
“The wants of an individual with dementia can range considerably, as would possibly a household’s potential to offer for his or her cherished one’s care journey. Relying on the analysis, these can embody the duty of managing home- and centre-based actions that supply significant and therapeutic help for individuals with dementia, in addition to a bunch of psychosocial components that comprise self-care options for caregivers.
That’s the reason our determination to companion with a number one monetary providers firm like Singlife to offer higher assist for our rising dementia group is a well timed one.”
