Hi all, I'm looking at Aviva MyProtector-Term and would like to hear your recommendation. Can anyone advise which option is better and the premiums for ANB 34F?
- 1m death till 80 / 1m TPD till 75 / 500k CI till 75
- 1m death till 80 / 1m TPD till 75 / 450k CI till 75 / 50k ECI till 65.
- 1m death till 80 / 1m TPD till 75 / 300k CI till 75. Plus 50k MCI till 70 (under separate policy).
I'm covered under the PruShield A Premier with 100% rider, and AIA Cashback Protector for 50k till 75. Will be cancelling my LPWL and ILP plans. Is my coverage sufficient for now?
Also I have not heard from Aviva regarding these questions. Does anyone know the answers?
1) Are the extended covered CIs included in the actual Benefit Illustration if I get ECI rider before Sep 1st?
Link: aviva.com.sg/life-and-health/for-individuals/critical-illness/MyEarlyCriticalIllnessPlan
2) Does ECI payout reduce the base sum assured? I don't see this clause under ECI quote.
3) In the event of a payout under TPD, CI, or ECI (except for the additional special benefits under ECI), the claimed rider will terminate and does not require further payment immediately from the month after the claim? For annual payment mode, the paid premium for the year will be pro-rated and refunded for the "unused" months?
4) What is the survival period for advanced CI? Is it also 7 days?
5) For MultiPay CI, there is no death benefit at all, right?
Thank you in advance.
- 1m death till 80 / 1m TPD till 75 / 500k CI till 75 = $2785.60 p.a
- 1m death till 80 / 1m TPD till 75 / 450k CI till 75 / 50k ECI till 65. = $3156.90
- 1m death till 80 / 1m TPD till 75 / 300k CI till 75. Plus 50k MCI till 70 = $2968.75 (multipay CI added as a rider on the term plan will be cheaper compared if you were to buy it as a stand-alone)
All quotations are based on female 34 ANB, Non-smoker.
Firstly, what kind of "coverage" are you talking about? and the amount of coverage is determined by you if not, there's always an excel file to calculate how much coverage is needed based on the number of dependents and based on your income.
1) existing policy holders will also enjoy the benefit of an increased ECI coverage from $200,000 to $250,000 and the new definitions added to the ECI and CI coverage terms.
2) ECI will reduce the SA of a main plan when it is added as a normal rider. If it is a multi-pay CI rider or stand-alone, it will not reduce SA.
3) The pro-rated refund varies from insurer to insurer. Have to check with the respective insurers in detail.
4) Yes Insurers would require most critical illness diagnosis a survival period of 7 days. But before that, an additional 90 days of waiting period upon policy inception before a claim can be made on the policy.
5) Aviva's MultiPay CI death benefit is $5,000
Hope all these answers your questions!