Insurance that will go under coverage after maturity

[twinbaby]

Hi there,

I was quoted an insurance that when pay $400 a month after 25 years which is 120,000 will return 170,000. The unique feature is that after maturity no need to pay anymore premium afterwards and will still cover CI and TPD, Death. It is from prudential.

Has anyone come across this type of insurance what does it fall under in P?

 

[zeroX26]

Hi there,

I was quoted an insurance that when pay $400 a month after 25 years which is 120,000 will return 170,000. The unique feature is that after maturity no need to pay anymore premium afterwards and will still cover CI and TPD, Death. It is from prudential.

Has anyone come across this type of insurance what does it fall under in P?

Just a typical whole life insurance except the premium is compressed into a fixed shorter term instead of regular premium. Other insurance companies have it too, u go dig around.

 

[Aerial86]

Hi there,

I was quoted an insurance that when pay $400 a month after 25 years which is 120,000 will return 170,000. The unique feature is that after maturity no need to pay anymore premium afterwards and will still cover CI and TPD, Death. It is from prudential.

Has anyone come across this type of insurance what does it fall under in P?

Hi,

It is not a unique feature to pay premium for a certain years and stay covered for life. All Limited premium Whole life policy has this. As for the returns, it is not the most important if you are thinking of keeping the coverage for life as it will only payout if you decides to surrender.

If you're not thinking of keeping the coverage for life, then I will recommend you to look into a term plan, and invest separately. It will be more cost efficient and beneficial for you.

 

[Aerial86]

If you're keen to hear more opinions and look at what all other companies can provide, I'm around to share with you on my knowledge, and advice you on insurance needs tailored to your profile.