What your opinion of GE Great Family Care?

[soulblader_89]

GREAT Family Care, a first-ever multi-generational Critical Illness term plan, helps you and your family to deal with life’s unexpected challenges. It covers you against Critical Illness (CI), Death, Total and Permanent Disability (TPD)1 and Terminal Illness (TI). It also provides your children2 with free protection against Critical Illness and Juvenile Conditions.


- Cover yourself against 53 critical illnesses (CI), Death, Total and Permanent Disability (TPD)1 and Terminal Illness (TI).

- Enhance coverage for your parents by adding the Parent Protect rider3 - insuring them with no medical assessment. Until 100 years old

Is it a worthwhile product?

The insurance agent quote me for $100,000 sum insured + $15,000 parent rider

Nope. Premium is like this:
1. Myself - SGD$609/per year
2. Parents - SGD$345/per year


Is it worth it? total $954 per year, assuming my parent is in their 70s, no insurance yet


https://www.greateasternlife.com/sg/en/personal-insurance/our-products/life-insurance/great-family-care.html

 

[lifeafter41]

How come parent premium lower than yours?

 

[Geeezz]

huai ish the 53 ci? parents coverage only 15k each ar?

 

[xtwis7]

Parents coverage is via a optional rider which covers $15k or 15% of your sum assured, whichever is higher.

Hence that’s why based on $100k, parents’ coverage will be $15k. Though it covers both parents, if either parent is diagnosed with the conditions (Cancers, Alzheimer’s, Parkinson’s), the rider will be terminated and parents coverage would end.

 

[smart alex]

Parents coverage is via a optional rider which covers $15k or 15% of your sum assured, whichever is higher.

Hence that’s why based on $100k, parents’ coverage will be $15k. Though it covers both parents, if either parent is diagnosed with the conditions (Cancers, Alzheimer’s, Parkinson’s), the rider will be terminated and parents coverage would end.

in ur opinion is worth or nt

Sent from Xiaomi POCOPHONE F1 using GAGT

 

[BBCWatcher]

Well, would S$15,000 be a life changing/improving amount, even if the particular risk were to occur?

It doesn't strike me as a great deal of money in 2019 (and beyond), and usually comparatively small payouts are better covered with greater personal savings and prudent investing. One exception is when you know more than the insurance company does and can legally insure against a risk (or set of risks) and reliably receive a payout from the insurer.