The Aviva MyCare policy is a life insurance policy that provides for long term care. The policyholder, age 43, pays a premium of $564 a year for the whole of life. 

When the policyholder becomes severely disabled, which is defined as the inability to carry out at least 3 activities of daily living, the policy pays a monthly benefit of $1,300 for up to 12 years. 

Is this policy worth buying? Here is my analysis.

Note - the MyCare policy is a supplement to the Eldershield policy, which can be bought with CPF Medisave savings. The coverage is similar to Eldershield, but the premuim and amount of benefit is diffferent.

Read the PDF below for a detailed analysis.

Tan Kin Lian .