Multi-pay Critical Illness Insurance Plans

boredboiboi

Master Member
Joined
Jun 12, 2010
Messages
3,961
Reaction score
156
Hi,
I'm looking for a quote for multipay CI policies for my family.
Male, ANB 33, Non-smoker, Coverage till 75. SumAssured - $200k
Female, ANB 33, Non-smoker, Coverage till 75. SumAssured - $200k

I am reaching out to the companies to get more details on the policies, but is there a tl;dr version of the main differences between them?

Will quote for u and send u the policies details if you need. What u mean tl;dr?
I have done the comparison between the few.

Company M (premium is before 5% perpetual discount)
Male age next birthday 33 non smoker 200k till age 75 - $3173/year
Female age next birthday 33 non smoker 200k till age 75 - $3316.40/year

Company AV
Male age next birthday 33 non smoker 200k till age 75 - $3122/year
Female age next birthday 33 non smoker 200k till age 75 - $3386/year

Company Ai
Male age next birthday 33 non smoker 200k till age 75 - $4145/year
Female age next birthday 33 non smoker 200k till age 75 - $3508/year

Company T
Male age next birthday 33 non smoker 200k till age 75 -
Female age next birthday 33 non smoker 200k till age 75 -

Company X (does not have extra payout for late stages like the others)
Male age next birthday 33 non smoker 200k till age 75 - $2642/year
Female age next birthday 33 non smoker 200k till age 75 - $2698/year
 
Last edited:

moejoseph

Senior Member
Joined
Aug 25, 2009
Messages
2,028
Reaction score
1
Hi,
I'm looking for a quote for multipay CI policies for my family.
Male, ANB 33, Non-smoker, Coverage till 75. SumAssured - $200k
Female, ANB 33, Non-smoker, Coverage till 75. SumAssured - $200k

I am reaching out to the companies to get more details on the policies, but is there a tl;dr version of the main differences between them?

From AXA direct:

1) Male 33ANB Non-smoker, $200k
Till age 75 @ $2642/year
Add $257/year for premium waiver

2) Female 33ANB Non-smoker, $200k
Till age 75 @ $2698/year
Add $308.65/year for premium waiver


* Upcoming AXA Campaign: $100 NTUC E-voucher

Personally think that premium waiver is impt for multipay, because premium will need to continue even if a claim is made, in order to "claim again" shld anything happen.

CI definition changes will happen in Aug, so do take note as well.

As for the difference, mainly lies in how the multipay is structured. Each insurer is different, with different percentage/waiting period/t&cs. Best to study the product summary of each in details.
 
Last edited:

shockingpants

Junior Member
Joined
Aug 24, 2006
Messages
13
Reaction score
1
Thanks moejoseph and boredboiboi!

I meant if there is a quick summary highlighting the main differences. It would be much easier to compare between policies if the terms were exactly the same across insurer, but alas, every product should differentiate itself. Looks like I'll have to study the product summaries in detail to know what I am paying for.

Thanks also for pointing out the CI definition change. It's one of the reasons why I'm looking to get a plan now.
 

boredboiboi

Master Member
Joined
Jun 12, 2010
Messages
3,961
Reaction score
156
Thanks moejoseph and boredboiboi!

I meant if there is a quick summary highlighting the main differences. It would be much easier to compare between policies if the terms were exactly the same across insurer, but alas, every product should differentiate itself. Looks like I'll have to study the product summaries in detail to know what I am paying for.

Thanks also for pointing out the CI definition change. It's one of the reasons why I'm looking to get a plan now.

You are welcome. You wan me to send h the plan details?
Company T and AV is grouping the conditions in pot where u claim eci on that pot, any other eci cant be claim for that pot again while the rest is individual condition. Some have extra payout on late stages while some dont. This is 1 of the difference. Its hard to type all in words. I have talk to a few over the phone before to give them a clearer picturez
 

shockingpants

Junior Member
Joined
Aug 24, 2006
Messages
13
Reaction score
1
I have Av's, GE's, and AXA's.
If you could PM me the prod summary for M, that'll be great. I'll reach out again if I need clarifications.

:)
 

mel17dec

Junior Member
Joined
Jun 29, 2020
Messages
4
Reaction score
0
Hi! I have an existing AIA Secure Term plus with Death benefit of 250K, TPD of 250K and CI of 100K. Took an interest with their Power critical cover Life plan with a SA of 70K, and planning to replace my SecureTerm with it. Will this be a good move?

Also, while researching for Power Critical cover, I came across with other CI plans from other insurers (TM, Aviva and Manulife) and would like to do a comparison.

May I get a quote please?

I'm 35 ANB, F, non-smoker. SA of 70K and 100K please and coverage until 75.

I'm thinking of keeping my AIA SecureTerm also and just get a new early CI plan instead.

Thanks!
 

boredboiboi

Master Member
Joined
Jun 12, 2010
Messages
3,961
Reaction score
156
Hi! I have an existing AIA Secure Term plus with Death benefit of 250K, TPD of 250K and CI of 100K. Took an interest with their Power critical cover Life plan with a SA of 70K, and planning to replace my SecureTerm with it. Will this be a good move?

Also, while researching for Power Critical cover, I came across with other CI plans from other insurers (TM, Aviva and Manulife) and would like to do a comparison.

May I get a quote please?

I'm 35 ANB, F, non-smoker. SA of 70K and 100K please and coverage until 75.

I'm thinking of keeping my AIA SecureTerm also and just get a new early CI plan instead.

Thanks!

You can as compare the term you have to see if is good to replace than to keep.

And heres the quote

Manulife (premium is before 5% perpetual discount)
70k - $1255.87/year
100k - $1794.10/year

Aviva
70k - $1248.80/year
100k - $1784/year

TM
70k - $1442.40/year
100k - $2032/year

Company X if u need but no extra payout for late stages
70k - $1024.10/year
100k - $1463/year
 
Last edited:

mel17dec

Junior Member
Joined
Jun 29, 2020
Messages
4
Reaction score
0
You can as compare the term you have to see if is good to replace than to keep.

And heres the quote

Manulife (premium is before 5% perpetual discount)
70k - $1255.87/year
100k - $1794.10/year

Aviva
70k - $1248.80/year
100k - $1784/year

TM
70k - $1442.40/year
100k - $2032/year

Thanks! May I get a quote too for Aviva's My Early CI plan with SA of 100K?
 

moejoseph

Senior Member
Joined
Aug 25, 2009
Messages
2,028
Reaction score
1
Hi! I have an existing AIA Secure Term plus with Death benefit of 250K, TPD of 250K and CI of 100K. Took an interest with their Power critical cover Life plan with a SA of 70K, and planning to replace my SecureTerm with it. Will this be a good move?

Also, while researching for Power Critical cover, I came across with other CI plans from other insurers (TM, Aviva and Manulife) and would like to do a comparison.

May I get a quote please?

I'm 35 ANB, F, non-smoker. SA of 70K and 100K please and coverage until 75.

I'm thinking of keeping my AIA SecureTerm also and just get a new early CI plan instead.

Thanks!

From AXA Direct, quoting for AXA Multipay

- $70k till age 75 @ $1024.10/year
Add premium waiver @ $128.01/year

- $100k till age 75 @ $1463/year
Add premium waiver @ $182.87/year

Will advise to add premium waiver as it doesn't cost much, and is required in case of a claim. Coz multipay works only when u continue payment even if a claim has been made
 

mel17dec

Junior Member
Joined
Jun 29, 2020
Messages
4
Reaction score
0
Thanks for the quotes boredboiboi, winthony and moejoseph!

Follow-up question please: which of these plans have International coverage? Means if I go back to my home country, I can still continue to pay and be covered?

Thanks in advance.
 

boredboiboi

Master Member
Joined
Jun 12, 2010
Messages
3,961
Reaction score
156
Thanks for the quotes boredboiboi, winthony and moejoseph!

Follow-up question please: which of these plans have International coverage? Means if I go back to my home country, I can still continue to pay and be covered?

Thanks in advance.

Coverage are international, and which country by the way?
 

moejoseph

Senior Member
Joined
Aug 25, 2009
Messages
2,028
Reaction score
1
Thanks for the quotes boredboiboi, winthony and moejoseph!

Follow-up question please: which of these plans have International coverage? Means if I go back to my home country, I can still continue to pay and be covered?

Thanks in advance.

Yep most coverage are international, but for certain nationalities there may be restrictions on purchase.

If there's a need to claim (touch wood), there will be certain procedures to follow. Can share more with u once u have decided.

Usually most common will be India, Indonesia, China, Philippines, Malaysia. All these not much issues :)
 
Last edited:

amazingneil

Member
Joined
May 18, 2020
Messages
171
Reaction score
1
Oh my god, i saw that blog post too talking about how the changes are going to be affecting us in the near future due to the chnages in definition. I better make my decision soon to prevent being on the wrong side. Better warn my family memebers too
 

boredboiboi

Master Member
Joined
Jun 12, 2010
Messages
3,961
Reaction score
156
came across a good web that provides nice comparison and quotations for the various CI plans side by side which I found it useful

can check it out too bah https://blog.policypal.com/insurance/best-critical-illness-plans-in-singapore/

but still considering what I shld purchase still....

We can share with u. What plans you are considering to make decision?
And i just read the link. With TM multicare being the best affordable plan? So obvious thats a bias comparison, TM multicare is the most expensive across all ci plans.
 
Last edited:
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