AIA Centurion PA Plan provides comprehensive coverage including value added services such as home care, health screening and teleconsultations. In celebration of Singapore’s 58th Birthday, Onward As One, we are rewarding families who purchase any of AIA’s eligible personal accident plans curated for 3 generations with a shopping voucher

SINGAPORE - Media OutReach - 3 August 2023 - AIA Singapore will be launching AIA Centurion PA on 10 August, a personal accident (PA) insurance plan that aims to holistically address the growing needs of Singapore's increasingly ageing population. This comes as part of AIA Health360, a comprehensive suite of solutions that supports consumers in their journey toward holistic wellness. Singapore is currently one of the most rapidly ageing societies in Asia, caused by increased life expectancy and decreasing birth rates. In 2010, about 1 in 10 Singaporeans were aged 65 and above. A decade later, in 2020, it has risen to about 1 in 6. By 2030, another 10 years later, it would be almost 1 in 4 Singaporeans over 65[1]. These statistics underscore a need to help the rapidly ageing population be protected. With amongst the highest life expectancy in the world, Singaporeans are also expected to live longer[2]. AIA Centurion PA[3] is the first personal accident plan in Singapore that covers neurological diseases like Alzheimer's Disease/Severe Dementia and Idiopathic Parkinson's Disease, and allows reimbursement of day or home care services that is required for illness management via an optional rider. It provides coverage to age 100, and offers a high entry age of up to 80 years old. Ms. Irma Hadikusuma, Chief Product Proposition Officer of AIA Singapore, said, "AIA Singapore aims to be a lifelong partner to our customers, enabling them to live Healthier, Longer, Better Lives through all life stages. We developed the AIA Centurion PA plan to address Singaporeans' growing concerns of living longer in ill health amidst rising healthcare costs. Through more holistic and thoughtful solutions, we hope to provide both ageing Singaporeans, and those with ageing parents, with a greater peace of mind." Increasing dementia concerns in Singapore An AIA Personal Accident Insurance Survey[4] was recently conducted to further understand the key concerns of growing old among Singapore residents. Findings revealed that when thinking about old-age ailments, 60% of Singaporeans are concerned about dementia, making it the nation's top worry. Despite this concern, more than 1 in 2 Singaporeans surveyed shared that they do not own policies that cover neurological diseases. To that end, respondents indicated a demand for such coverage, with 55% sharing an intention to purchase such a policy for themselves, and more than 40% intending to purchase the same for their parents. In response to these findings, AIA Centurion PA plan was developed to provide people with more accessibility to cover themselves for neurological diseases by offering the first-in-market optional rider attached to a personal accident plan, where lump-sum payouts for the diagnosis of early, intermediate, and late stage Alzheimer's Disease/Severe Dementia and Idiopathic Parkinson's Disease are available for up to S$100,000. The rider also offers dementia care reimbursement benefits of up to S$20,000, reimbursable for 24 months upon diagnosis of major stage Alzheimer's Disease/Severe Dementia or Idiopathic Parkinson's Disease for services rendered by registered and licensed day care centres, home care providers, or nursing homes. In addition, the rider provides easy application with two health questions and no medical examination is required. Strengthening accidental medical reimbursement coverage The survey also showed that nearly half the Singaporeans surveyed are concerned about physical disabilities due to accidental falls. This is corroborated by the respondents' top concerns about growing old, in which 53% are worried about permanent disability, while 37% are worried about accident-related injuries. AIA Centurion PA plan meets these concerns by reimbursing up to S$3,000 in medical costs, including the hiring of licensed or graduate nurses and physiotherapy per accident. In addition, the plan covers for Traditional Chinese Medicine (TCM) or chiropractic treatment, while introducing additional accidental medical reimbursement coverage for treating bone fractures, ensuring that post-accident recovery can be as complete as possible. A peace of mind Singapore's "sandwiched" generations, caring for both ageing parents and children of their own, are faced with immense pressures of life. In addition to the rising cost of living, which includes healthcare and caretaking costs, AIA's research also shows that caretaking Singaporeans are dealing with the emotional stress of caring for their ageing parents, the lack of time to juggle their many responsibilities, and the fear that they may not have adequate retirement funds...