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Old 06-07-2020, 08:57 PM   #2466
BBCWatcher
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Join Date: Jun 2010
Posts: 12,867
I am looking to get a Term Life to cover the mortgage loan of $1.3M, DII (6 mths deferment, 3% escalating benefit and till age 65) and also to downgrade the rider for both myself and mum. Any advice from you on my proposal?
All that seems broadly reasonable to me. A couple comments:

(a) You'll likely want term life insurance to be compatible with policies #1 and #2. That could mean consolidating policies depending on what you've got and how good a value it is (or isn't).

(b) If you're concerned about premium burdens then you could take a look at switching to PRUshield Plus with its corresponding rider.

(c) Do the children have a basic Integrated Shield plan in place? If they're citizens a solid plan is Great Eastern's Supreme Health B Plus with Classic rider.
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