Multi-pay Critical Illness Insurance Plans

zzzzzz87

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Yes A is aviva.
T min age 70, M only available till age 75 / 99.

I quote 1 example for wholelife plan later for company M. The mac multiplier is 5 but min is 25k for base. Thus more than 100k. And there is a min premium. The last i do for a client was around 800-900/year for 25 year for 29k*5 to reach min premium.

Can you quote for ANB 2 for age 75 for the multipay for A, T and M please? Thanks!
 

zzzzzz87

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Yes A is aviva.
T min age 70, M only available till age 75 / 99.

I quote 1 example for wholelife plan later for company M. The mac multiplier is 5 but min is 25k for base. Thus more than 100k. And there is a min premium. The last i do for a client was around 800-900/year for 25 year for 29k*5 to reach min premium.

Saw some posts on this. How about 50k base for Aviva/Manulife/China Taiping? Which do you recommend?

Understand the Aviva whole life plan can add on multipay rider too.
 

boredboiboi

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Saw some posts on this. How about 50k base for Aviva/Manulife/China Taiping? Which do you recommend?

Understand the Aviva whole life plan can add on multipay rider too.

I will go for A or M.
50k * 2 correct?
Yes can add multipay as rider but will be alot higher because its limited pay

Company A
Wholelife 50k*2, 100k death/tpd/eci - $831/year (25 years pay)

Company M
Wholelife 50k*2, 100k death/tpd/eci - $947.64/year (25 years pay)

Company C
Wholelife 50k*2, 100k death/tpd/eci - $684.50/year (25 years pay)
 
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boredboiboi

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Can you quote for ANB 2 for age 75 for the multipay for A, T and M please? Thanks!

Company A
50k till age 75 - $371.50/year
100k till age 75 - $743/year
Wholelife 50k*2, 100k death/tpd/eci - $831/year (25 years pay)

Company M
50k till age 75 - $406.10/year (premium is before current promo of 5% perpetual discount)
100k till age 75 - $812.20/year (premium is before current promo of 5% perpetual discount)
Wholelife 50k*2, 100k death/tpd/eci - $947.64/year (25 years pay)
 

BoombahYah

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Hello,

would like to get a Quote for 100k MPCI till age70/75, 31 year old, male non smoker.
 

boredboiboi

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Hello,

would like to get a Quote for 100k MPCI till age70/75, 31 year old, male non smoker.

Age next birthday 31 male non smoker
Company A
100k Till age 70 - $1158/year
100k Till age 75 - $1447/year

Company T
100k Till age 70 - $1279/year
100k Till age 75 - $1628/year

Company M
100k Till age 70 - not available
100k Till age 75 - $1475/year (premium is before current promo of 5% perpetual discount)

Company X ( no additional payout for late stages while the rest have)
100k Till age 70 - $975/year
100k Till age 75 - $1165/year
 
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lousylah

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Hi, please quote

Male, non-smoker, ANB 36

1mil term / multipay CI or ECI rider for 100k
until age 65
until age 70
 
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boredboiboi

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sorry wasn't clear. here revised.

Ok, will quote soon. Currently having thing on.

Company A
1) 1 mill death/tpd, 100k eci till age 65 - $2111.80/year (premium is before 20% perpetual discount)
2) 1 mill death/tpd, 100k eci till age 70 - $2612.60/year (premium is before 20% perpetual discount)
3) 1 mill death/tpd, 100k multipay till age 65 - $2230.80/year (premium is before 5% perpetual discount)
4) 1 mill death/tpd, 100k multipay till age 70 - $2734.60/year (premium is before 5% perpetual discount)

Company T
1) 1 mill death/tpd, 100k eci till age 65 - $1611/year
2) 1 mill death/tpd, 100k eci till age 70 - $2001/year
3) 1 mill death/tpd, 100k multipay till age 65 - not available
4) 1 mill death/tpd, 100k multipay till age 70 - not available

Company X
1) 1 mill death/tpd, 100k eci till age 65 - $2390.20/year
2) 1 mill death/tpd, 100k eci till age 70 - $2831.80/year
3) 1 mill death/tpd, 100k multipay till age 65 - $3480.20/year
4) 1 mill death/tpd, 100k multipay till age 70 - $4131.80/year

Updated
 
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proton91

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hi I will be 30 years old next birthday, male, non-smoker

Could you please quote for a term life insurance to cover $500k / $1mil till 70 years old?

And any general recommendation, what other policies to "add-on" to the term? Been reading about ECI, CI, Disability income. Is there a recommendation on the optimal portfolio?

Thanks!
 

boredboiboi

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hi I will be 30 years old next birthday, male, non-smoker

Could you please quote for a term life insurance to cover $500k / $1mil till 70 years old?

And any general recommendation, what other policies to "add-on" to the term? Been reading about ECI, CI, Disability income. Is there a recommendation on the optimal portfolio?

Thanks!

Will quote for you soon.

You can look at Disability income but is a standalone plan.
CI and Eci i would recommend to add abit if your budget allows.

Quote for male age next birthday 30 non smoker
Company A
1) 500k death/tpd - $668.70/year (below 1 mil no discount)
2) 1 mill death/tpd - $1056.90/year (premium is before 20% perpetual discount)

Company T
1) 500k death/tpd - $545/year
2) 1 mill death/tpd - $872/year

Company M
1) 500k death/tpd - $833/year (Premium is before 25% perpetual discount)
2) 1 mill death/tpd - $1244/year (Premium is before 25% perpetual discount)
 
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proton91

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Will quote for you soon.

You can look at Disability income but is a standalone plan.
CI and Eci i would recommend to add abit if your budget allows.

Quote for male next birthday 30 non smomer
Company A
1) 500k death/tpd - $668.70/year (below 1 mil no discount)
2) 1 mill death/tpd - $1056.90/year (premium is before 20% perpetual discount)

Company T
1) 500k death/tpd - $545/year
2) 1 mill death/tpd - $872/year

Company M
1) 500k death/tpd - $ (Premium is before 25% perpetual discount)
2) 1 mill death/tpd - $ (Premium is before 25% perpetual discount)

Thanks for the quotation, now I am abit puzzled and worried.

Right now, my policies are
1) ~1100 for a term that covers Death, TPD and CI for $300k. I assume this policy costs more but covers less because that is the additional coverage for CI.

2) ~1100 for ECI for $100k

I have been meaning to increase my ECI to $200k.

And I was quoted a policy which has a full life insurance (300k) + ECI (200k), and the premiums that I would pay here would be the same as a term life + ECI (200k), plus I would get surrender value.

I have always been against full life insurance because full life insurances are typically pricier due to the investment and surrender value components. However, the quotes I was given seems to go against my understanding.

So just want to get clarity if any gurus can advise. Thanks!
 

boredboiboi

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Thanks for the quotation, now I am abit puzzled and worried.

Right now, my policies are
1) ~1100 for a term that covers Death, TPD and CI for $300k. I assume this policy costs more but covers less because that is the additional coverage for CI.

2) ~1100 for ECI for $100k

I have been meaning to increase my ECI to $200k.

And I was quoted a policy which has a full life insurance (300k) + ECI (200k), and the premiums that I would pay here would be the same as a term life + ECI (200k), plus I would get surrender value.

I have always been against full life insurance because full life insurances are typically pricier due to the investment and surrender value components. However, the quotes I was given seems to go against my understanding.

So just want to get clarity if any gurus can advise. Thanks!

If the wholelife plan max multiplier, that would make sense since looking for coverage till age 70. I will quote for you soon for 300k death/tpd and 200k eci for wholelife plan.

What is the quote you have for wholelife?

I quoted from company M wholelife plan
60k*5 =300k death/tpd, 40k*5=200k eci till age 70 and payment for 25 years. Premium per year is $2277.24/year
 
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proton91

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If the wholelife plan max multiplier, that would make sense since looking for coverage till age 70. I will quote for you soon for 300k death/tpd and 200k eci for wholelife plan.

What is the quote you have for wholelife?

I was quoted ~3500 for a 300k death / tpd / terminal illness + 200k ECI.

The thing is, I am reading that the whole life component is a ILP, which I am not a big fan of.

Are there products out there that do not have investment components? Possibly a term life (300k) and ECI (200k) which I assume should cost less than $3500?
 

boredboiboi

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I was quoted ~3500 for a 300k death / tpd / terminal illness + 200k ECI.

The thing is, I am reading that the whole life component is a ILP, which I am not a big fan of.

Are there products out there that do not have investment components? Possibly a term life (300k) and ECI (200k) which I assume should cost less than $3500?

The 1 i quoted $2277.24/year for 25year is a wholelife plan for 300k death/tpd and 200k eci. Not an ilp. And the guaranteed surrender value at age 70 is $35503 and with bonus @4.75% will be $80500
While for a term till age 70 and pay till age 70 is $1174.96/year for 300k death/tpd and 200k eci.
 
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proton91

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The 1 i quoted $2277.24/year for 25year is a wholelife plan for 300k death/tpd and 200k eci. Not an ilp. And the guaranteed surrender value at age 70 is $35503 and with bonus @4.75% will be $80500
While for a term till age 70 and pay till age 70 is $1174.96/year for 300k death/tpd and 200k eci.

Got it.

In this case, the characteristic of the whole life plan is that you get some surrender value. Whereas for term life, when I reach 70, the plan lapses with no value.

How does the bonus of 4.75% work actually? Is that assuming an annualized return of 4.75% over the 25 years duration? What determines if its 4.75% and not 3.75% for e.g.?
 

boredboiboi

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Got it.

In this case, the characteristic of the whole life plan is that you get some surrender value. Whereas for term life, when I reach 70, the plan lapses with no value.

How does the bonus of 4.75% work actually? Is that assuming an annualized return of 4.75% over the 25 years duration? What determines if its 4.75% and not 3.75% for e.g.?

3.25% and 4.75% is determine by the participating funds of the insurer, every year they will declare, once delcare, the bonus will be guaranteed. The return is over the duration as long as your plan is in place. The coverage will still be there and the returns will still grow even after 25 years as long as the plans the lapse. Wholelife plan is a plan that covers you wholelife and with cash values along the way.
 

Kojo0403

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suggest you use an online calculator to calculate the actual return of your plan.
you would probably have to strip off the death and CI (if applicable) premium charges from your insurance premium to see the real picture.(compounding return of your monthly investment)

typically the sales distribution charges is so high that your long term return from your cash investment is nowhere near 3-4% but most probably below 2%
 

Kojo0403

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hi I will be 30 years old next birthday, male, non-smoker

Could you please quote for a term life insurance to cover $500k / $1mil till 70 years old?

And any general recommendation, what other policies to "add-on" to the term? Been reading about ECI, CI, Disability income. Is there a recommendation on the optimal portfolio?

Thanks!

suggest you to buy stand-alone insurance for term, CI, ECI and Disability Income.

For Term and CI, consider Aviva Group insurance or Direct Purchase Insurance.
For ECI, Aviva is probably the most value for money.
 
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