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Multi-pay Critical Illness Insurance Plans

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Old 18-10-2020, 03:40 PM   #1546
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For old rider plan, premium is higher than new rider. Because old rider cover 100% govt hospital.

No point saving on premium. Because when the bills come out. It will easily override all savings on premium.

Yeap of course, no one changes out from the old legacy plan unless financially constrained
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Old 18-10-2020, 05:17 PM   #1547
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Hi,

I am ANB 28 female, non smoker.

I would like to get a quote for 100k ECI & CI up to age 75. Got a quote from AIA agent with SA 50k, 2 x Multiplier Effect (=100k up to age 75 (Death/TPD/CI/ECI). SA reduced to 50k after age 75.

Premium =Approx. $2k annually, payable for 20 yrs

But find it very expensive in terms of the premium with the amount of the coverage. Need advice.

Thank you!
Manulife system is up.
For your reference, you can have any combination of what you wanted.
Such as
Multiplier - 1/2/3/4/5
Payment term - 10/15/20/25
Base sum assured - ?

Below is an example for you to compare against aia
Base $25k death/tpd and $25k eci
Multiplier 4 till age 70
$100k death/tpd and $100k eci till age 70
Pay 20 years
$1252.75/year
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Old 18-10-2020, 05:22 PM   #1548
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The only plan worthwhile in insurance companies is their hospital plan. Don't go and buy those ILP nonsense
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Old 18-10-2020, 05:24 PM   #1549
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Haha yeah of course when out of pocket is lesser it is better when it comes to bill. But if you look at the old plans, their premium as compared to current plans, depending on which age bracket there is certain premium saving which could be significant!

No choice since current products all involve this co-payment/co-insurance


Ever since the Co payment came up. It is bo hua alrdy. The 3000 is only a benchmark. Who know they will readjust again?

What is stopping them from readjusting to 10,000 or more?

Last edited by ZeusLightningGod; 18-10-2020 at 05:29 PM..
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Old 18-10-2020, 06:04 PM   #1550
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Manulife system is up.
For your reference, you can have any combination of what you wanted.
Such as
Multiplier - 1/2/3/4/5
Payment term - 10/15/20/25
Base sum assured - ?

Below is an example for you to compare against aia
Base $25k death/tpd and $25k eci
Multiplier 4 till age 70
$100k death/tpd and $100k eci till age 70
Pay 20 years
$1252.75/year
Hi boredboiboi,

Thanks for the quote.

How about Base $50k death /tpd and $50k eci/ci
Multiplier 2 till age 70
Multiplier 3 till age 70
Pay 20 years?

Thank you!
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Old 18-10-2020, 06:09 PM   #1551
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Hi boredboiboi,

Thanks for the quote.

How about Base $50k death /tpd and $50k eci/ci
Multiplier 2 till age 70
Multiplier 3 till age 70
Pay 20 years?

Thank you!
Hmm, for your rider, you have to make sure it doesnt exceed the base death sum.

ie: death is 50k, ECI + CI rider must be at max 50k

In this case, i assumed all to be placed under ECI rider since it covers all stages of CI?
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Old 18-10-2020, 06:20 PM   #1552
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Hi boredboiboi,

Thanks for the quote.

How about Base $50k death /tpd and $50k eci/ci
Multiplier 2 till age 70
Multiplier 3 till age 70
Pay 20 years?

Thank you!
You are welcome crystalsnow
Eci covers all stages
I believe u put eci/ci means eci?

50k with multiplier 3 - $2003.17/year
50k with multiplier 2 - $1761.96/year
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Old 18-10-2020, 06:45 PM   #1553
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Hmm, for your rider, you have to make sure it doesnt exceed the base death sum.

ie: death is 50k, ECI + CI rider must be at max 50k

In this case, i assumed all to be placed under ECI rider since it covers all stages of CI?
Hi winthony,

ECI & CI - same as base death sum assured.
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Old 18-10-2020, 06:50 PM   #1554
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You are welcome crystalsnow
Eci covers all stages
I believe u put eci/ci means eci?

50k with multiplier 3 - $2003.17/year
50k with multiplier 2 - $1761.96/year
Hi boredboiboi,

Just to clarify. Does all the ECI across insurers cover all stages of CI?

Btw, will multi pay CI and standalone CI be more expensive? Thanks.
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Old 18-10-2020, 06:52 PM   #1555
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Hi boredboiboi,

Just to clarify. Does all the ECI across insurers cover all stages of CI?

Btw, will multi pay CI and standalone CI be more expensive? Thanks.
Most insurers covers all stages of ci.
Multipay and standalone ci is term plan. Thus it will be cheaper. And depends on your coverage, if covers till age 99. It might be more expensive than wholelife plan.
Term - no cash value
Wholelife - have cash value

Manulife quote is just for reference. I can quote other company too.
Wholelife so far Aviva and Manulife is the most competitive. But with 5 times multiplier, most of the time is Manulife.

Multiplier option
Aviva - 65/70/75
Manulife - 70
China taiping - 70/85 but multiplier max 4
Aia - 65/75

Last edited by boredboiboi; 18-10-2020 at 07:16 PM..
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Old 18-10-2020, 07:09 PM   #1556
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Hi winthony,

ECI & CI - same as base death sum assured.
Ahh, in that case it would probably be death/tpd + ECI rider since ECI rider covers all stages of CIs

Company M
50k base death/tpd + 50k ECI with 2x multiplier -> $1761.96/annually
50k base death/tpd + 50k ECI with 3x multiplier -> $2003.17/annually

Company A
50k base death/tpd + 50k ECI with 2x multiplier -> $1739.50/annually
50k base death/tpd + 50k ECI with 3x multiplier -> $2158/annually

Company A allows you to adjust multiplier age expiry from 65/70/75 whereas Company M is set at 70
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Old 18-10-2020, 07:56 PM   #1557
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Ahh, so i assumed this would be your first product? Do make sure you get yourself sufficiently covered on hospitalisation!

A reference as to how the premium would b, note that the term plan is used for comparison because it would be the most viable option for single payout and ECI rider is included since it covers all stages of CI

100k Multipay : $1370/annually (Company A)

100k death/tpd + 100k Eci rider :$846.80/annually (Company T)

Hi,

Thanks for the quote. I actually had a prushield + premier plan bought in 2008 which is 100% covered for private and govt hospital bills. I am thinking to downgrade to just 100% govt. Unsure if this will be a good move.

For the term death 100k + ECI 100k rider, there are some pricing difference between different insurance companies. May I know if the cheaper premium covers lesser types of illness?

Tbh, I also had a quote from AIA that sums up to $2300 annual for 50k 2x multiplier up to age 75. I find it quite expensive. AIA agent also mentioned ECI doesnt cover stage 1 illness. May I know if this true?
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Old 18-10-2020, 08:01 PM   #1558
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Hi,

Thanks for the quote. I actually had a prushield + premier plan bought in 2008 which is 100% covered for private and govt hospital bills. I am thinking to downgrade to just 100% govt. Unsure if this will be a good move.

For the term death 100k + ECI 100k rider, there are some pricing difference between different insurance companies. May I know if the cheaper premium covers lesser types of illness?

Tbh, I also had a quote from AIA that sums up to $2300 annual for 50k 2x multiplier up to age 75. I find it quite expensive. AIA agent also mentioned ECI doesnt cover stage 1 illness. May I know if this true?
Conditions covered is more or less the same.
The conditions are all listed out. The agent that say stage 1 ci doesnt covers, ask the agent to show u black and white what is covered and what is not. The agent must be desperate until anyhow says
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Old 18-10-2020, 08:03 PM   #1559
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Hi,

Thanks for the quote. I actually had a prushield + premier plan bought in 2008 which is 100% covered for private and govt hospital bills. I am thinking to downgrade to just 100% govt. Unsure if this will be a good move.

For the term death 100k + ECI 100k rider, there are some pricing difference between different insurance companies. May I know if the cheaper premium covers lesser types of illness?

Tbh, I also had a quote from AIA that sums up to $2300 annual for 50k 2x multiplier up to age 75. I find it quite expensive. AIA agent also mentioned ECI doesnt cover stage 1 illness. May I know if this true?
That is good! you are on the legacy plan so if you switch, you will be subjected to the co-payment/co-insurance model so that might be a consideration for you

Pricing difference is just based on the company's actuarial department so it is not that a cheaper premium covers lesser illnesses!

The quote you received would be for a wholelife product. What does he mean by ECI doesnt cover stage 1 illness? What form of illness because that statement is very vague!
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Old 18-10-2020, 08:21 PM   #1560
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Ahh, in that case it would probably be death/tpd + ECI rider since ECI rider covers all stages of CIs

Company M
50k base death/tpd + 50k ECI with 2x multiplier -> $1761.96/annually
50k base death/tpd + 50k ECI with 3x multiplier -> $2003.17/annually

Company A
50k base death/tpd + 50k ECI with 2x multiplier -> $1739.50/annually
50k base death/tpd + 50k ECI with 3x multiplier -> $2158/annually

Company A allows you to adjust multiplier age expiry from 65/70/75 whereas Company M is set at 70
Hi winthony and boredboiboi,

Thanks for the quick response. Seems like AIA's plan is indeed more expensive with the same amount of coverage.. Is it because it covers a wider range of illness (i.e. no of illness)? Are there any other factors that I need to take into consideration?
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