Disability income insurance

brightzstarz

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Hi all,

I'm interested in getting a disability income insurance. There are a few companies offering this kind of insurance (eg GE, Aviva, AIA).

I'm inclined towards getting GE Pay Assure as they will provide cover if the insured is unable to continue working in his/her current occupation (which i think is important to me). However, i'll like to seek others' advice before buying the insurance.

Anyone has any advice on which is the best plan? I'm looking for a plan which has more benefits and good coverage. The premium is not my top concern.

Will appreciate any advice.

Thanks!
 

K|muRa^84

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im also considering GE payassure

trying to get my hands on the policy docs ....the scope of the definitions are critical...

dont mind speaking to an agent together....2 heads r better than one
 

Project_Xco

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I am covered under GE Payassure. I would say premium is reasonable and definitely much cheaper than early CI.

You need to specify these four things:
-Sum Assured (in multiple of $1k)
-Pre Benefit period (90 days, 60 days) <- the reason for this is some people manage to cure within these period of time. So the longer it is, the cheaper the premium.
-Term (till age 65, 75, etc). Obviously, the longer, the more expensive.
-Your job class (like class 1,2,3) <- class 1 is like office job without travelling. class 2 is like need to travel (ie. walk to meet clients), class 3 involves height.

So do prepare all these before you meet your GE agent.

I feel that the selling point about this PayAssure is that it covers you when you either cannot work due to accident or illness (like cancer). I took this as a substitute to early CI as the premiums is very high to me. The ideal situation is to have both early CI and PayAssure.

There are also other products such as AIA Premier Disability, Aviva SAF disability insurance and others. Try to take note of the definition of ADL and how many ADL you need to have before it can be considered as a disability. Then you decide.

eh btw, i'm not GE agent or what. Go and chase you own GE agent or call their hotline.
 
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VictorvonDoom

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I am covered under GE Payassure. I would say premium is reasonable and definitely much cheaper than early CI.

You need to specify these four things:
-Sum Assured (in multiple of $1k)
-Pre Benefit period (90 days, 60 days) <- the reason for this is some people manage to cure within these period of time. So the longer it is, the cheaper the premium.
-Term (till age 65, 75, etc). Obviously, the longer, the more expensive.
-Your job class (like class 1,2,3) <- class 1 is like office job without travelling. class 2 is like need to travel (ie. walk to meet clients), class 3 involves height.

So do prepare all these before you meet your GE agent.

I feel that the selling point about this PayAssure is that it covers you when you either cannot work due to accident or illness (like cancer). I took this as a substitute to early CI as the premiums is very high to me. The ideal situation is to have both early CI and PayAssure.

There are also other products such as AIA Premier Disability, Aviva SAF disability insurance and others. Try to take note of the definition of ADL and how many ADL you need to have before it can be considered as a disability. Then you decide.

eh btw, i'm not GE agent or what. Go and chase you own GE agent or call their hotline.

do you mind sharing the details of your plan? like how much is the premium and coverage amount?
 

Diagracefulee

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Hi all,

I'm interested in getting a disability income insurance. There are a few companies offering this kind of insurance (eg GE, Aviva, AIA).


I'm inclined towards getting GE Pay Assure as they will provide cover if the insured is unable to continue working in his/her current occupation (which i think is important to me). However, i'll like to seek others' advice before buying the insurance.

Anyone has any advice on which is the best plan? I'm looking for a plan which has more benefits and good coverage. The premium is not my top concern.

Will appreciate any advice.

Thanks!

Oh I jz bgt from aviva. There having 35% discount till end of June. I choose the escalattion of 3% pa which ll increases my payout by 3% every year.

Somehow not much different between aviva and ge. But the discount of 35% helps to save a lot.
 

sputnikmoment

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I'm about to start work and interested to know more about GE and AIA disability income insurance. Hoping I can get a quote from any GE/AIA agents here to find out what's the premiums like.
 

FP_IFA

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For Aviva IdealIncome and AIA Premier disability, you can PM me for the quotes. I would need your gender, date of birth, occupation, cover term, and the monthly payout you need.

Do note that you cannot apply for a monthly payout that is more than 75% of your current monthly income. Also AIA Premier disability plan only has one cover term (age 65) whereas IdealIncome allows you to chose 55, 60 or 65.
 

dexboi

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Hi please quote Aviva IdealIncome after applying 35% discount. Thank you!!

Gender: M
DOB: ANB is 29
Occupation: Class 1
Term: 55yo
Payout: $3k/mth
Escalating Benefit: Pls quote for both Yes/No
 

FP_IFA

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Hi please quote Aviva IdealIncome after applying 35% discount. Thank you!!

Gender: M
DOB: ANB is 29
Occupation: Class 1
Term: 55yo
Payout: $3k/mth
Escalating Benefit: Pls quote for both Yes/No

After discount:
Without escalating, $218 per annum

With escalating, $242.20 per annum
 

FP_IFA

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By the way, the escalation only kicks in after a successful claim. I have come across people who thought the escalation starts every year after they bought the plan.
 

Little Tomato

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I'm about to start work and interested to know more about GE and AIA disability income insurance. Hoping I can get a quote from any GE/AIA agents here to find out what's the premiums like.

Hi,

I will be able to help you understand more on GE pay assure.
U may wish to PM me.

:) Beth
 

Little Tomato

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Hi all,

I'm interested in getting a disability income insurance. There are a few companies offering this kind of insurance (eg GE, Aviva, AIA).

I'm inclined towards getting GE Pay Assure as they will provide cover if the insured is unable to continue working in his/her current occupation (which i think is important to me). However, i'll like to seek others' advice before buying the insurance.

Anyone has any advice on which is the best plan? I'm looking for a plan which has more benefits and good coverage. The premium is not my top concern.

Will appreciate any advice.

Thanks!

Hi,

U may PM me for GE plan.

Rgds, Beth
 

valuesniper

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Hi please quote Aviva IdealIncome

Male, Age: 34, Office worker, Non smoker
Coverage till 65 years old
Payout: $3k/mth
Escalating Benefit: Pls quote for both Yes/No

Are the premiums level and guaranteed?

Disability insurance seems quite complicated.

Anyone mind sharing their knowledge : out of the 3 companies, AIA, Aviva and GE, which is the better/ more cost effective plan? thanks
 
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