Best Term Insurance Plan(Do Not Solicit for Pm)

[boredboiboi]

The 'irreversible' word is alr in 2014 definition, 2019 added definition to define the word. I dont see the difference 'irreversible' would make in both set of definitions.

I can't think of a scenario that a dispute would arise from the word 'irreversible'.
Idk, maybe in your career you come across a claim that falls in this grey area?

The red wording. As you can see for the loss of hearing as well from 80 decibel to 40 decibel.

I have nv done any claim in the grey area.

 

[mybar8iedoll]

Hi,

F, birthday Jun92, non-smoker

Looking to get term life+eci & ci riders, may I have quotes for below pls?

1) $1mil Death/TPD, 50k eci, 100k ci
Till age 65 & 70

2) $1mil Death/TPD, 100k eci, 200k ci
Till age 65 & 70

Different companies (both accelerated & non-accelerated) for comparison, any current promo & sound recommendations are welcome.

Tia~

 

[winthony]

Hi,

F, birthday Jun92, non-smoker

Looking to get term life+eci & ci riders, may I have quotes for below pls?

1) $1mil Death/TPD, 50k eci, 100k ci
Till age 65 & 70

2) $1mil Death/TPD, 100k eci, 200k ci
Till age 65 & 70

Different companies (both accelerated & non-accelerated) for comparison, any current promo & sound recommendations are welcome.

Tia~

Hello! for eci rider, i think the most competitive would be A and T. A's eci is non accelerated and T's eci is accelerated! you will get to see the comparison

Company A has 20% perpetual discount if death is 1m

Lemme quote you! I have helped you backdate till 1st June 2020 so it will be based on ANB 28

A

All before 20% perpetual discount and ECI rider is non-accelerated
$1mil Death/TPD, 50k eci, 100k ci till 65 : $1159.90/annually
$1mil Death/TPD, 50k eci, 100k ci till 70 : $1323.95/annually
$1mil Death/TPD, 100k eci, 200k ci till 65 :$1670.35/annually
$1mil Death/TPD, 100k eci, 200k ci till 70:$1901.70/annually

T

ECI rider is accelerated!
$1mil Death/TPD, 50k eci, 100k ci till 65 : $963/annually
$1mil Death/TPD, 50k eci, 100k ci till 70 : $1110.50/annually
$1mil Death/TPD, 100k eci, 200k ci till 65 : $1417/annually
$1mil Death/TPD, 100k eci, 200k ci till 70: $1589/annually

Any particular reason why you set your death and tpd to be $1m but your ECI/CI to be only 5%~10% of your coverage?

 

[moejoseph]

Hi,

F, birthday Jun92, non-smoker

Looking to get term life+eci & ci riders, may I have quotes for below pls?

1) $1mil Death/TPD, 50k eci, 100k ci
Till age 65 & 70

2) $1mil Death/TPD, 100k eci, 200k ci
Till age 65 & 70

Different companies (both accelerated & non-accelerated) for comparison, any current promo & sound recommendations are welcome.

Tia~

Hi, below from AXA Direct. Comes with extra 50% coverage for first 3 years.

Premium is after 20% perpeptual discount

1) $1mil Death/TPD, $50k ECI, $100k CI
Till age 65 @ $926.50/year
Till age 70 @ $1046.60/year

2) $1mil Death/TPD, $100k ECI, $200k CI
Till age 65 @ $1285/year
Till age 70 @ $1445.20/year

 

[boredboiboi]

Hi,

F, birthday Jun92, non-smoker

Looking to get term life+eci & ci riders, may I have quotes for below pls?

1) $1mil Death/TPD, 50k eci, 100k ci
Till age 65 & 70

2) $1mil Death/TPD, 100k eci, 200k ci
Till age 65 & 70

Different companies (both accelerated & non-accelerated) for comparison, any current promo & sound recommendations are welcome.

Tia~

just want to understand the reason behind the big gap between death/tpd and eci+ci. The gap is too huge difference.
Or is it just purely you want to have the big sum coverage discount?

All quoted base on backdated since ur birthday so near. Saving in premium in the long term.

T
$1mil Death/TPD, 50k eci, 100k ci till 65 - $963/year
$1mil Death/TPD, 50k eci, 100k ci till 70 - $1110.50/year
$1mil Death/TPD, 100k eci, 200k ci till 65 : $1417/year
$1mil Death/TPD, 100k eci, 200k ci till 70: $1589/year

A ( premium is before 20% perpetual discount)
$1mil Death/TPD, 50k eci, 100k ci till 65 - $1159.90/year
$1mil Death/TPD, 50k eci, 100k ci till 70 - $1323.95/year
$1mil Death/TPD, 100k eci, 200k ci till 65 - $1670.35/year
$1mil Death/TPD, 100k eci, 200k ci till 70 - $1901.70/year

X
$1mil Death/TPD, 50k eci, 100k ci till 65 - $926.50/year
$1mil Death/TPD, 50k eci, 100k ci till 70 - $1046.60/year
$1mil Death/TPD, 100k eci, 200k ci till 65 - $1285/year
$1mil Death/TPD, 100k eci, 200k ci till 70 - $1445.20/year

 

[mybar8iedoll]

Hello! for eci rider, i think the most competitive would be A and T. A's eci is non accelerated and T's eci is accelerated! you will get to see the comparison

Company A has 20% perpetual discount if death is 1m

Lemme quote you! I have helped you backdate till 1st June 2020 so it will be based on ANB 28

A


T


Any particular reason why you set your death and tpd to be $1m but your ECI/CI to be only 5%~10% of your coverage?

Thanks for the quick response.

No particular reason actually am looking for higher term life coverage, thinking to add in CI riders before the new framework sets in.

From the quotes, seems like A is cheaper after taking into account the 20% perpetual discount.

Just wondering if the policy terms will be pretty much standardised across all insurance companies out there. Else, why some insurance co. priced higher for similar coverage.

Should the claim process be a main factor to consider as well? If so, btw A & T you recommended which is a better choice?

 

[moejoseph]

Thanks for the quick response.

No particular reason actually am looking for higher term life coverage, thinking to add in CI riders before the new framework sets in.

From the quotes, seems like A is cheaper after taking into account the 20% perpetual discount.

Just wondering if the policy terms will be pretty much standardised across all insurance companies out there. Else, why some insurance co. priced higher for similar coverage.

Should the claim process be a main factor to consider as well? If so, btw A & T you recommended which is a better choice?

Hmmm A is actually slightly more expensive than X if u calculate them out. Just pointing out the difference and calculation as below

Company A after 20% discount

1mil Death/TPD, 50k eci, 100k ci till 65 : $927.92/annually
$1mil Death/TPD, 50k eci, 100k ci till 70 : $1059.16/annually
$1mil Death/TPD, 100k eci, 200k ci till 65 :$1336.28/annually
$1mil Death/TPD, 100k eci, 200k ci till 70:$1521.36/annually


With ECI rider, X is definitely the lowest currently.
If with only CI rider, then other insurers are lower.

As term is largely the same, so as to why some insurers' premium are higher than the others, i would say distribution cost plays a big role (comm and fees etc..)

 

[winthony]

Thanks for the quick response.

No particular reason actually am looking for higher term life coverage, thinking to add in CI riders before the new framework sets in.

From the quotes, seems like A is cheaper after taking into account the 20% perpetual discount.

Just wondering if the policy terms will be pretty much standardised across all insurance companies out there. Else, why some insurance co. priced higher for similar coverage.

Should the claim process be a main factor to consider as well? If so, btw A & T you recommended which is a better choice?

You're welcome! I see! Because it is quite unusual to see such a huge gap

Taking into account 20%, yeap, A would be cheaper Well, if you are talking about coverage, it is more or less standardised across the companies as the definition for CIs is set by LIA of Singapore. The premium pricing is done by the company's internal actuarial department so the exact formula is unknown

Some people do favour claim processing time and in this case, I would be inclined to say A as I do have a few encounters with T haha

 

[moejoseph]

just want to understand the reason behind the big gap between death/tpd and eci+ci. The gap is too huge difference.
Or is it just purely you want to have the big sum coverage discount?

All quoted base on backdated since ur birthday so near. Saving in premium in the long term.

T
$1mil Death/TPD, 50k eci, 100k ci till 65 - $963/year
$1mil Death/TPD, 50k eci, 100k ci till 70 - $1110.50/year
$1mil Death/TPD, 100k eci, 200k ci till 65 : $1417/year
$1mil Death/TPD, 100k eci, 200k ci till 70: $1589/year

A ( premium is before 20% perpetual discount)
$1mil Death/TPD, 50k eci, 100k ci till 65 - $1159.90/year
$1mil Death/TPD, 50k eci, 100k ci till 70 - $1323.95/year
$1mil Death/TPD, 100k eci, 200k ci till 65 - $1670.35/year
$1mil Death/TPD, 100k eci, 200k ci till 70 - $1901.70/year

X
$1mil Death/TPD, 50k eci, 100k ci till 65 - $895.40/year
$1mil Death/TPD, 50k eci, 100k ci till 70 - $1009.40/year
$1mil Death/TPD, 100k eci, 200k ci till 65 - $1235.60/year
$1mil Death/TPD, 100k eci, 200k ci till 70 - $1386.80/year

Hmmm something strange with X quote. Based on mine Jun '92 is ANB 28

 

[boredboiboi]

Hmmm something strange with X quote. Based on mine Jun '92 is ANB 28

I did mentioned about backdated. Thus anb 28
Hope u didnt miss that part.
Ur is anb 29
Ur screen show 28 is alb

 

[moejoseph]

I did mentioned about backdated. Thus anb 28
Hope u didnt miss that part.
Ur is anb 29
Ur screen show 28 is alb

No leh. Now is Aug, as long within 6mths no need to backdate. My screen still shows 28. For AXA, it is very straight forward when we key in birthdate without clicking anything else or backdating.

This is frm my screen

 

[boredboiboi]

No leh. Now is Aug, as long within 6mths no need to backdate. My screen still shows 28. For AXA, it is very straight forward when we key in birthdate without clicking anything else or backdating.

This is frm my screen

U try put june and dec. u see got different or not. The auto 6 month thingy. I really dont know how it works or something. That time u say but i dont catch it.
The screen 28 shown is ald. not anb

 

[moejoseph]

U try put june and dec. u see got different or not. The auto 6 month thingy. I really dont know how it works or something. That time u say but i dont catch it.
The screen 28 shown is ald. not anb

Tried already, no difference since now is August. ALB or ANB 28 makes no difference to premium. For ur premium, is age 27

Based on Aug (application date), unless the person's birth month is in Jan or Feb, then will have difference. It will be counted as ANB 29 though, and premium will be more expensive.

Usually this kind of issues occur in the 2nd half of the year only. Best will still to have the exact date, and not backdate anything for term, coz client is losing out on 6 months of coverage. For whole life then yes, backdate can make a difference.

 

[boredboiboi]

Tried already, no difference since now is August. ALB or ANB 28 makes no difference to premium. For ur premium, is age 27

Based on Aug (application date), unless the person's birth month is in Jan or Feb, then will have difference. It will be counted as ANB 29 though, and premium will be more expensive.

Usually this kind of issues occur in the 2nd half of the year only. Best will still to have the exact date, and not backdate anything for term, coz client is losing out on 6 months of coverage. For whole life then yes, backdate can make a difference.

Nvm, i know what went wrong already. Amended

 

[mybar8iedoll]

Hmmm A is actually slightly more expensive than X if u calculate them out. Just pointing out the difference and calculation as below

Company A after 20% discount

1mil Death/TPD, 50k eci, 100k ci till 65 : $927.92/annually
$1mil Death/TPD, 50k eci, 100k ci till 70 : $1059.16/annually
$1mil Death/TPD, 100k eci, 200k ci till 65 :$1336.28/annually
$1mil Death/TPD, 100k eci, 200k ci till 70:$1521.36/annually


With ECI rider, X is definitely the lowest currently.
If with only CI rider, then other insurers are lower.

As term is largely the same, so as to why some insurers' premium are higher than the others, i would say distribution cost plays a big role (comm and fees etc..)

Hi, below from AXA Direct. Comes with extra 50% coverage for first 3 years.

Premium is after 20% perpeptual discount

1) $1mil Death/TPD, $50k ECI, $100k CI
Till age 65 @ $926.50/year
Till age 70 @ $1046.60/year

2) $1mil Death/TPD, $100k ECI, $200k CI
Till age 65 @ $1285/year
Till age 70 @ $1445.20/year

Thanks for the quotes & calculations.. Yes, X direct is slightly cheaper compare to A now.

Is the CI accelerated or non-accelerated?

 

[exterminazn]

Tried already, no difference since now is August. ALB or ANB 28 makes no difference to premium. For ur premium, is age 27

Based on Aug (application date), unless the person's birth month is in Jan or Feb, then will have difference. It will be counted as ANB 29 though, and premium will be more expensive.

Usually this kind of issues occur in the 2nd half of the year only. Best will still to have the exact date, and not backdate anything for term, coz client is losing out on 6 months of coverage. For whole life then yes, backdate can make a difference.

For AXA their anb is different from the rest

 

[moejoseph]

Thanks for the quotes & calculations.. Yes, X direct is slightly cheaper compare to A now.

Is the CI accelerated or non-accelerated?

Welcome! CI is accelerated for above quote. We have non-accelerated option as well if u need

 

[mybar8iedoll]

Welcome! CI is accelerated for above quote. We have non-accelerated option as well if u need

You mentioned CI is accelerated, if that's the case, am i right to say A win over X for coverage ' $1mil Death/TPD, $50k ECI, $100k CI ' since premium only few dollars different but its non-accelerated?

 

[winthony]

You mentioned CI is accelerated, if that's the case, am i right to say A win over X for coverage ' $1mil Death/TPD, $50k ECI, $100k CI ' since premium only few dollars different but its non-accelerated?

In essence, yes you are getting more coverage with little difference in premium

 

[moejoseph]

In essence, yes you are getting more coverage with little difference in premium

I think shld quote the same for an apple-to-apple comparison. As far as i know, all insurers' coverage are auto set to accelerated, unless otherwise added/changed.

What is the name of your rider called?

Not sure if Aviva is doing this differently, but will be confusing if they did because all previous quotes/understanding of the plan will be wrong