Invest Round-up

Making life better for expectant mums and young adults

Aviva's MyMaternityPlan is tailored for expectant mothers from as early as 13 weeks to 36 weeks of pregnancy.
Aviva's MyMaternityPlan is tailored for expectant mothers from as early as 13 weeks to 36 weeks of pregnancy.ST PHOTO: MARK CHEONG

The Sunday Times highlights three new insurance plans and two banking products.


Aviva's MyMaternityPlan is a single-premium, three-year policy that covers as many as 10 pregnancy complications and 23 congenital illnesses. It includes coverage for developmental delay and stem cell transplant surgery.

The plan offers a lump sum payout should the mother and/or child be diagnosed with any of the stated conditions, or in the event of death.

Developmental delay in this case is defined as the inability of the insured child to walk without aid over a distance of 2m, or speak and say simple words by the age of 28 months.

Aviva says this is in response to findings from the Ministry of Health (MOH), which noted that a growing proportion of young children (ranging from babies to those under seven years of age) are being diagnosed with problems such as autism and speech and language delays, with the number of new cases rising significantly from 2,500 in 2010 to around 4,000 in 2015.

The plan also provides coverage in the event that the insured child requires stem cell transplant surgery, or outpatient phototherapy treatment due to severe neonatal jaundice. Jaundice affects about three in five full-term babies and as many as four in five premature infants.

It covers as many as four babies in a single pregnancy, even if it is through in-vitro fertilisation.

The single premium for a 30-year old mum-to-be (non-smoker) is $638 for a $10,000 cover.

MyMaternityPlan is tailored for expectant mothers from as early as 13 weeks to 36 weeks of pregnancy.

Customers can buy the policy when signing up for selected Aviva protection or savings plans. They also have the flexibility of choosing their desired level of coverage of between $5,000 and $20,000 (in multiples of $100), based on their individual needs.


This is the first health insurance product to be rolled out on OCBC Bank's mobile and Internet banking channels, with more non-general insurance plans to be added over time.

Underwritten by insurer Great Eastern, it is a cancer insurance policy that provides coverage if early or major cancer is detected. Depending on the plan purchased, upon diagnosis of major cancer, the insured person will receive up to $3,000 monthly for six months, and a lump sum of up to $150,000, which can be used to cover treatment costs.

If early-stage cancer is detected first, the customer will receive 40 per cent of the sum assured, up to $3,000 for six months, and all future premiums will be waived. The remaining 60 per cent of the sum assured will be paid out if major cancer is diagnosed subsequently.

The annual premium for a 40-year old male who buys plan C (benefit amount $150,000) of Early Cancer Care amounts to $1,595 while a 40-year old female pays $2,171.99.


This is believed to be an industry-first self-service digital platform to not just purchase but also manage employee benefit insurance. It is designed for start-ups that have been incorporated between one and five years and employ between two and 15 full-time staff.

Start.Sure offers three benefit plans - Energiser, Turbo Booster and Super Charger - that cater specifically to meet the employee protection needs of start-ups at different life stages and scales.

The insurance plans cover pre-and post-hospitalisation and surgical expenses, including kidney dialysis, cancer treatments and outpatient consultation by a general practitioner. They require no paperwork and underwriting. The plans offer three-month free coverage for employees if the start-up ceases operation.


The CIMB FastSaver-i is Singapore's first syariah-compliant online savings account and an Islamic variant to the conventional CIMB FastSaver.

It uses the syariah concept of Murabahah (mark-up) and account holders receive returns in the form of profit of 1 per cent per annum.

Sharing similar features as its conventional counterpart, the profit applies from the first dollar up to $50,000 as long as $1,000 is maintained in the account on any given day.

Account application is entirely online. There are also no fall-below fees. A profit rate of 0.6 per cent a year applies for balances above $50,000.


The enhanced DBS Multiplier Account lowers the transaction threshold, has no minimum salary crediting amount and no minimum credit card spend. This is to make it easier for young adults to qualify for higher interest rates on their account balances.

DBS conducted an year-long customer survey of around 1,000 young adults here and found that 64 per cent said managing their finances took up a lot of their time, while 38 per cent felt that it was complicated and a barrier to achieving their financial goals.

Other findings indicated that even as young adults want to be rewarded for their regular banking transactions, they prefer not to be tied down by certain conditions - for example, a minimum amount for salary credit or minimum credit card spend. Further research also showed that half of young adults aged 21 to 35 in Singapore spend less than $500 on their credit cards monthly.

With the enhanced DBS Multiplier Account, young adults need not worry about fulfilling such conditions. To enjoy higher interest rates on their account balances, they only need to have their salaries credited with DBS/POSB and transact in one or more of the following categories: credit card spend, home loan instalment, insurance or investments. To enjoy higher rates, they just need to have their total eligible monthly transactions add up to $2,000 or more.

DBS said that since its launch in 2014, the DBS Multiplier Account has seen an average account growth of 30 per cent year on year.

A version of this article appeared in the print edition of The Sunday Times on November 19, 2017, with the headline 'Making life better for expectant mums and young adults'. Print Edition | Subscribe