Best Term Insurance Plan(Do Not Solicit for Pm)

trojanguy

Senior Member
Joined
Nov 28, 2013
Messages
1,482
Reaction score
0
what can you suggest an insurance plan for a father like me earning a minimum of 2k with 2 kids
 

Bigoya

Senior Member
Joined
Jan 5, 2017
Messages
2,197
Reaction score
0
what can you suggest an insurance plan for a father like me earning a minimum of 2k with 2 kids

Budget is my main concern for your case.
How old are your kids?

Get your H&S right. For ur income there's high possibility that outpatient treatment would not be adequately cover by your company, get a PA.

Total cost here ard $600/yr.

Get a Term instead of WL for death/TPD/CI coverage.

Let's cap total premium @ < $2k/yr
 
Last edited:

Bigoya

Senior Member
Joined
Jan 5, 2017
Messages
2,197
Reaction score
0
Hello all,
May i seek some guru advice if the following plan will be adequate?
28yo male sg, looking to buy for self n spouse.

Aviva GTL 500k
Aviva GPA 500k
DPI 200k Term w CI Benefit (not yet confirm with coy)

Shld get ECI as well?
Thanks

Sent from Samsung SM-G920I using GAGT

What do u wish to achieve out of this portfolio?
Are you intending to get all those plans for yourself, and duplicate the same portfolio for your spouse?
 
Last edited:

luckygal

Supremacy Member
Joined
Mar 31, 2015
Messages
8,652
Reaction score
1,706
I realise adding ECI to a term is rather expensive. But is CI that crucial? Usually no cure already right. So to make premium affordable, is getting a basic term that cover death n TPD sufficient ?
 

Bigoya

Senior Member
Joined
Jan 5, 2017
Messages
2,197
Reaction score
0
I realise adding ECI to a term is rather expensive. But is CI that crucial? Usually no cure already right. So to make premium affordable, is getting a basic term that cover death n TPD sufficient ?

"adding ECI to a term is rather expensive".
It used to be true but not anymore.

Is there a cure for stroke? Probably not.
Is there a cure for major cancers? Probably not.
Are you going to die immediaitely? Definitly not.

If anyone of these CIs would make u loose your job but allows u to continue with life, without a CI payout would u have money to survive?

Is a premium of less than $2k per year not considered affordable?
Or are u just looking for cheap?
 

akwl88

Arch-Supremacy Member
Joined
Feb 15, 2016
Messages
10,696
Reaction score
1
I realise adding ECI to a term is rather expensive. But is CI that crucial? Usually no cure already right. So to make premium affordable, is getting a basic term that cover death n TPD sufficient ?

Eci and ci are diff

Eci is exp and unnecessary

Get ci coverage ba, maybe 200k

Add to term and tpd maybe cost u less than 1k premiums per year if u are below 30
 

xevex83

Junior Member
Joined
Dec 9, 2015
Messages
14
Reaction score
0
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.
 

bntyl777

Junior Member
Joined
Jun 6, 2017
Messages
13
Reaction score
0
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! :D
 
Last edited:

Bigoya

Senior Member
Joined
Jan 5, 2017
Messages
2,197
Reaction score
0
2) ECI will reduce the SA of a main plan when it is added as a normal rider

Spot the difference.
C66w4R4.png
 

xevex83

Junior Member
Joined
Dec 9, 2015
Messages
14
Reaction score
0
He underlined the clause for CI, which cannot be found in ECI.. so it doesn't seem to accelerate the base sum assured.
 

xevex83

Junior Member
Joined
Dec 9, 2015
Messages
14
Reaction score
0
- 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)

How much is the premium difference for MCI rider versus MCI standalone? For MCI rider, the whole policy will terminate if there is a claim on TPD.

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.

Where can I get this excel file?

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.

5) Aviva's MultiPay CI death benefit is $5,000

For point 1, I am refering to the additional CI conditions that Aviva covers for their ECI plans. I provided the url in the previous post but without the w w w.

For point 5, I cannot find the death benefit under the MCI 's BI (even though I remember seeing it somewhere before).

Thank you!
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top