Myshield is an integrated health insurance plan provided by Aviva.
Currently, as long as both parents are covered under Aviva’s Myshield Plan 1 or 2, their children will be covered for free under Myshield Plan 2 up to 20 years of age.
This benefit has always been a double-edged sword because some parents who are covered under Plan 1 decide to settle on the free Plan 2 for their children where Plan 1 would have been more suitable.
After repeated feedback from advisers, Aviva has finally “listened” to us and has introduced a slightly modified version of this benefit. It looks like a test run as they are only offering it as a promotion for policies that are incepted from now till 31st Dec 2009. Hopefully, they will make it a permanent feature of their policy.
With this enhancement, parents who are covered under Aviva’s Myshield Plan 1 can elect to purchase Plan 1 for their children and enjoy a premium discount of 50% for their children up to 20 years old next birthday.
Unfortunately, the enhancement is not for all existing policyholder holders yet. It is currently available to these three groups:
- Both parents and children are all new customers
- One parent is an existing policyholder, children and the other parent are new customers
- Both parents are existing policyholders while the child/children is a new applicant
Essentially, the premium discount is only applicable if the child applicant is not formerly a policyholder.
Existing policyholders need not be worried as Aviva as indicated that this benefit will be phrased in for them in the next stage which will take place at a later date.