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It’s been nearly a decade since Ah Boys to Men (ABTM) first hit our cinemas in 2012. Jack Neo’s iconic film franchise about the National Service experiences of a group of young recruits continues to strike a chord, as evidenced by how the first movie was the most streamed Singaporean title on Netflix in 2020.
The films’ popularity can be attested to their depiction of the recognisable NS experiences that every Singaporean son has gone through. Yet they’re not just about grenade throwing, stand-by beds and countless push ups. The movies are also about maturity, growth and responsibility. Just like how the films show the emotional journeys of recruits Ken, Aloysius, Lobang and IP Man, as they grow, we can also take responsibility for ourselves and think about our finances and protection at different points in our lives.
In that same vein, if ABTM were a real-life insurance product, it would also exhibit growth and responsibility, just like Aviva’s MINDEF and MHA Group Insurance Plan — Group Term Life (GTL) and Group Personal Accident (GPA). These plans may help you meet challenges from all stages of your NS life from chao Recruit to ORD (Operationally Ready Date) and beyond.
Let’s find out how:
Probably the first insurance you sign up for on your own, and take charge of.
With screams of “RECRUIT! KNOCK IT DOWN!!” hurled at you practically every day, you’re in for a rude awakening when you first enter the army. It’s also probably the fittest most guys will ever be in their lives.
Starting with Basic Military Training (BMT), you’ll be faced with a whole new series of challenges, both physical and mental, as you begin your transformation from Ah Boy to Man. At this stage of life, the main thing you may be thinking about is when you can finally get to the cookhouse to feed your starving self.
Safety, of course, is paramount in NS, and every Recruit is in good hands. However, there is always a risk, no matter how minimal. Luckily, all our “Ah Boys” are automatically covered by MINDEF/MHA Group insurance under the Core Scheme, with S$150,000 worth of GTL and GPA coverage.
There’s also the Voluntary Scheme that these Ah Boys can consider for that extra peace of mind should something bad happen to them (choy ah!). In addition, the MINDEF insurance covers all army activities, even when you’re handling firearms or pyrotechnics. It also covers you in and out of camp — and even when you travel around the world!
You can top up your coverage under the GTL voluntary scheme for just $1.37 per day and get covered for up to $1 million! Plus, the cost stays the same up to age 65 next birthday. There is also no need for a medical check-up for up to $250,000 coverage.
Yup, it pays to be a bit more siao on when it comes to signing up for this, because if you apply for any products under the Voluntary Scheme within the first 30 days of your enlistment and you’re graded as PES A or B during your medical grading, you won’t need any extra medical underwriting.
For protection against accidents and TPD, the GPA voluntary scheme gives you a maximum cover of $600,000 plus $10,000 towards mobility aids and renovation for home rehabilitation at up to $10,000. The cost of this? A super-affordable $0.20 a day, which won’t put too much of a dent in your NS allowance.
You’ve finally ORD-ed (become an operationally ready NSMan) and received your pink IC, but as your RSM (Regimental Sergeant Major) will no doubt remind you, this is not the end of your NS commitments. When you catch up with your buddies at yearly In-Camp Training (ICT) sessions, you’ll marvel at the changes in some of their lives. Who are the ones who got married, had kids and bought homes and cars?
NSMen are still eligible to sign up for the GTL and GPA schemes even though they have completed their full-time service. Do note that you will need to still be considered an NSMan to qualify to purchase the Voluntary Scheme. Upon becoming a military reserve, you will no longer be eligible. This could happen in your late 30s, depending on your NS rank and when you’ve completed those 10 cycles.
What’s more, your spouse and children can be covered at the same rate, and your spouse can also continue the plan should you pass away, for both the GTL and GPA schemes. This means that your family can remain protected in the worst case scenario.
For more protection due to your growing commitments, boost your coverage with these riders:
Living Care (protects against 37 critical illnesses)
Living Care Plus (coverage up to $300,000 in a lump sum upon diagnosis of early critical illnesses; add-on for Living Care)
Disability Income (monthly payout if ever you become disabled from an accident or illness)
Outpatient Medicare (covers you and your family’s outpatient treatment expenses)
There are also attractive privileges in purchasing other Aviva products as a voluntary GTL and GPA insured member to help you as you build your life following your full-time NS stint. You can get 15% off car insurance premiums (on top of any existing promotions), as well as the ability to upgrade your home insurance plan to the next highest tier (which means a savings of up to a generous 56%).
And when travel resumes, you can get 30% off travel insurance (on top of any existing promotions) to fully enjoy those family holidays. Plus, these special deals extend to your immediate family members too!
The great thing about Aviva’s GTL and GPA plans is that you are still covered all the way up to age 70 on your next birthday (there’s an option to renew year-on-year from 65 Age Next Birthday and above), and coverage continues even after completing your NS training cycles and liabilities (you’ll need to sign up for the voluntary scheme before that though).
Apart from the voluntary GTL and GPA, Aviva also has a range of retirement products to ensure that you and your family are well taken care of into your old age.
So there you have it. If Ah Boys to Men were a real-life insurance product, it would look like Aviva’s MINDEF and MHA Group Insurance Plan — Group Term Life (GTL) and Group Personal Accident (GPA) plans.
No matter what stage of your NS life you’re in, these are value-for-money group insurance plans as they offer good coverage with affordable premiums (for less than the cost of a kopi from the canteen a day).
As you embark on and continue your own journey of growth and maturity, receive up to $90 e-vouchers when you sign-up or upgrade your GTL, GPA, and/or riders insurance coverage.
The promotion is valid for a limited time until 30 September 2021. Chiong ar!!!
Terms and conditions apply. This policy is underwritten by Aviva Ltd. This article is published for general information only and does not have regard to the specific investment objectives, financial situation and particular needs of any specific person. You should read the Product Summary and seek advice from a financial adviser representative before making a commitment to purchase the product. As this product has no savings or investment feature, there is no cash value if the policy ends or if the policy is terminated prematurely. The benefits of a personal accident policy will only be payable upon an accident occurring. Before replacing an existing personal accident policy with a new one, you should consider whether the switch is detrimental as there may be potential disadvantages with switching. A penalty may be imposed for early termination and the new policy may cost more or have fewer benefits at the same costs.
If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and Aviva may recover from you any expense incurred by us in underwriting the policy.
Information is accurate as at 29 September 2021. Protected up to specified limits by SDIC.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
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Original article: If the ‘Ah Boys to Men’ Movie Were A Real-Life Insurance Product, This is How It’d Look Like.
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