Prudential PRUlife multiplier vs AXA Life Exentials

[amigoeva]

I wanted to get a mortgage insurance but was quoted by a prudential agent the PRUlife multiplier

Kinda makes sense for me because I wanted to be protected for CI which mortgage insurances doesn't. Term insurance are kinda not worth it when I wanna take up for 30 years.

The agent quoted me PRUlife multiplier, and I did some research and seems like AXA's Life Exentials is comparable. Anyone knows what's the difference?

Would also like to know if anyone here can quote me AXA's premium. age next bday: 32, female, non smoker, sum assured 100K, with early CI cover 50K, 15 year premium payment. Thanks!

 

[Lewis.T]

Just curious, how did you settle on the 100k sum assured when you're presumably using it to cover your mortgage?

Would it be because of a budget? Term plans can be significantly cheaper, but they do not offer lifetime protection.

 

[amigoeva]

I'm looking at a coverage of approx 300K for 30 years, I do not need that much coverage after that, so I'm ok with dropping to 100K after that.

the prudential agent worked out 100K on multiplier for me as i get 290K coverage until 65

he also added the early CI cover of 50K (which "multiplies" to 120K until age 65) and advised me to cancel my 75K coverage early CI term plan I already had with AXA (with an additional premium of $16.50/year compared to AXA)

to get the usual whole life for 300K, can't rmb how much but it's out of the budget for me

 

[Lewis.T]

Ok understood. I thought you were looking at 100k after the multiplier effect. You're actually looking at 300k instead.

 

[amigoeva]

yup, sorry if i wasn't clear enough! haha

 

[Shion]

iirc Life Exentials dont have early CI, need to get Early Stage CritiCare which is like a term insurance

Life Exentials Prime has early CI, and is 3.5x multiplier...but no CI !?

Will be more expensive...

 

[blurpandasg2014]

I'm looking at a coverage of approx 300K for 30 years, I do not need that much coverage after that, so I'm ok with dropping to 100K after that.

the prudential agent worked out 100K on multiplier for me as i get 290K coverage until 65

he also added the early CI cover of 50K (which "multiplies" to 120K until age 65) and advised me to cancel my 75K coverage early CI term plan I already had with AXA (with an additional premium of $16.50/year compared to AXA)

to get the usual whole life for 300K, can't rmb how much but it's out of the budget for me

Hi U are at the right place to ask this qn. I recently compared both the products and here is my verdict.

Benefits of AXA Life exential Prime with Early CI
1) 3.5x multiplier for Death,CI and ECI till 70yr old
2) If claim before 70yr old does not fall below the sum assured, the sum assured and bonuses will NOT be affected.
3) 75k per ECI
4) 200% accidental death benefit

Cons
1) Lower cash value


Benefits of Prulife multiplier
1) Higher cash value

Cons
1) Expensive
2) Only 2.5X multiplier for CI/ECI till 65yr old
3) Only can claim 50% sum assured per ECI claim. In your case, it is only 60k



Overall, i feel AXA exential prime more suitable for long term. Cash value shldnt be the primary reason when u sign a life plan.

 

[amigoeva]

thanks for the comparison. how much more expensive is prulife multiplier?

reason why i'm asking is bcos prudential accepts credit card and i can get rebates from my credit card

 

[MikeZhang]

thanks for the comparison. how much more expensive is prulife multiplier?

reason why i'm asking is bcos prudential accepts credit card and i can get rebates from my credit card

Why not get a term plan which cover for the next 30 years for your mortgage? 300k for death, TPD and CI/early CI which is so much cheaper and effective.

 

[Shion]

thanks for the comparison. how much more expensive is prulife multiplier?

reason why i'm asking is bcos prudential accepts credit card and i can get rebates from my credit card

You want to purchase from Pru because of the credit card benefits...?

The 2 AXA Life Exentials are more expensive

 

[Shion]

Benefits of AXA Life exential Prime with Early CI
4) 200% accidental death benefit

Cons
1) Expensive
2) Only 2.5X multiplier for CI/ECI till 65yr old

Overall, i feel AXA exential prime more suitable for long term. Cash value shldnt be the primary reason when u sign a life plan.

Just asking, Life Exentials Prime dont have CI, right ? Because I got a quote on this plan some time back, the CI portion is an additional term insurance which I need to pay till 99...?

Accidental death benefit is up to 7 times of your sum assured. I believe that is a factor why premiums are much higher for this Life Exentials Prime. Get a PA plan to cover this accidental death portion is cheaper, imo.

Multipler in general ends at age 65/70 anyway

I suggest TS to get WL quotes from all the insurance companies and then make a comparison.

 

[amigoeva]

You want to purchase from Pru because of the credit card benefits...?

The 2 AXA Life Exentials are more expensive

it's 1 of the reasons but not the main one, obviously...

if say all else equal, AXA premium is cheaper by 3%, but can only pay by giro, as compared to prudential but can pay by credit card. my uob one card can get approx 5% rebate, then prudential is more worth it, no? correct me if i'm wrong

Just asking, Life Exentials Prime dont have CI, right ? Because I got a quote on this plan some time back, the CI portion is an additional term insurance which I need to pay till 99...?

Accidental death benefit is up to 7 times of your sum assured. I believe that is a factor why premiums are much higher for this Life Exentials Prime. Get a PA plan to cover this accidental death portion is cheaper, imo.

Multipler in general ends at age 65/70 anyway

I suggest TS to get WL quotes from all the insurance companies and then make a comparison.

Thanks for the info! I went to compare.sg to check out the rates, it seems like AXA is cheapest followed by Prudential, but u're right, may have to add additional covers to get CI or early CI

Why not get a term plan which cover for the next 30 years for your mortgage? 300k for death, TPD and CI/early CI which is so much cheaper and effective.

Term plan is more ex in total as i've to pay for 30 years (sums up to 72k). prulife multiplier is more ex monthly but i'm only paying for 15 years (sums up to 69k)

i understand that a lot of people here get term plan at a lower premium now, and then invest the money elsewhere to get higher returns. but i don't intend to make any investments as of now

 

[Shion]

I don't know about those rebates.

The comparison at compareFirst are not so accurate as they don't include the additional features like CI/early CI riders/components but then well, you can still take a look at the prices.

But i see you already have the early CI term from AXA...Hmm...Wise to cancel to get another policy ? One of the "generalized" saying is that, if someone comes to you and ask you to cancel a policy from another company and get their policy...Avoid...

Best is get quotations from various companies...

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I am not so sure for PruLife Multiplier but I believe early CI and accidental death benefit are under "riders"

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Just a rough sample from my papers ~~~

I used to have a ManuProtect Life quote.
50k sum assured, 3X multiplier, $1880+ per year for 25 years
CI + early CI are riders iirc
For accidental death, I add in a Tenet PAStar 300k accidental death, $388+ per year
Total cost = $2268+
Coverage: 150k death + CI + early CI + TPD, 300k accidental death

Another AXA Life Exentials Prime quote.
50k sum assured, 3.5X multiplier, $2100+ per year for 25 years
Accidental death 350k
Add in CI term, 100k sum assured, $460 per year till 99
Total cost = $2660+
Coverage: 175k death + TPD + early CI, 100k CI, 350k accidental death

End of the day, I believe it really depends on how much coverage you really need for the next few decades down the road.

 

[Takagi]

Try to compare quotes n found out how much u need

 

[blurpandasg2014]

Just asking, Life Exentials Prime dont have CI, right ? Because I got a quote on this plan some time back, the CI portion is an additional term insurance which I need to pay till 99...?

Accidental death benefit is up to 7 times of your sum assured. I believe that is a factor why premiums are much higher for this Life Exentials Prime. Get a PA plan to cover this accidental death portion is cheaper, imo.

Multipler in general ends at age 65/70 anyway

I suggest TS to get WL quotes from all the insurance companies and then make a comparison.

AXA LE prime covers death tpd ci and eci. It is all accelerated cover. Eci is capped at 75k per claim while the rest is 100% payout

 

[Shion]

AXA LE prime covers death tpd ci and eci. It is all accelerated cover. Eci is capped at 75k per claim while the rest is 100% payout

Hmm...???

Thanks a lot...

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Found this...

 

[Vincent_G]

Anyone can quote me multiplier from other insurance than prudential, just for comparison.,

 

[blurpandasg2014]

Anyone can quote me multiplier from other insurance than prudential, just for comparison.,

AXA now jus up their early ci claim limit from 75k to 200k. Premiums will remain the same till December. After which, will rise from Jan onwards.

It's good time to get it

 

[AhBui168]

AXA now jus up their early ci claim limit from 75k to 200k. Premiums will remain the same till December. After which, will rise from Jan onwards.

It's good time to get it

So how about PRUlife multiplier?