Advise on Insurance

[dslr]

Hi,


I will like to seek some experts advise on my current insurance policy.


Few questions:
Does they overlap?
Does any below cover early critical stage eg. cancer?
I was thinking to reduce the amount per year currently paying around $9.5k per year and I cant be paying this when I am 55 years old or later part of my age.


Pls advise. thanks.


My current coverage.


AIA - whole life - S$ 1,700 / annual
-AIA S$ GUARANTEED 15 FOR LIFE
Sum Assured - S$55,000.00
Maturity Date - 28 Nov 2081
LUMP SUM TPD
Sum Assured - S$55,000.00
Maturity Date - 28 Nov 2046


-AIA - Critical Illiness (Complete Critical Cover) - S$ 1,638.00 / annual
AIA COMPLETE CRITICAL COVER
S$100,000.00
09 Apr 2057


-DEATH BENEFIT
S$10,000.00
09 Apr 2057
WP-CI COMPLETE CRITICAL COVER


AIA - Investment (Max Protector) - S$ 164 / mthly
-AIA MAX PROTECTOR
S$100,000.00
09 Nov 2082


-AIA MAX PROTECTOR-TPD
S$50,000.00
09 Nov 2042

-CPWP
S$150.00
09 Nov 2082


Prudential - PruLink Protection Account - s$297 / mthly
Total and Permanent Disability
Terminal Illness
Crisis Cover Provider III
Crisis Waiver III
AccidentDeath&DismembermentIII
Increase of Regular Premium
Terminal Illness
Total and Permanent Disability
Crisis Cover Provider III
Crisis Waiver III

Prudential - PruShield - s$277.00 / annually
PRUShield Basic - CPF
PruShield (A Premier)

Prudential - PruShield Extra - S$31 / mthly

 

[NiteX2]

Hi,


I will like to seek some experts advise on my current insurance policy.


Few questions:
Does they overlap?
Does any below cover early critical stage eg. cancer?
I was thinking to reduce the amount per year currently paying around $9.5k per year and I cant be paying this when I am 55 years old or later part of my age.


Pls advise. thanks.


My current coverage.


AIA - whole life - S$ 1,700 / annual
-AIA S$ GUARANTEED 15 FOR LIFE
Sum Assured - S$55,000.00
Maturity Date - 28 Nov 2081
LUMP SUM TPD
Sum Assured - S$55,000.00
Maturity Date - 28 Nov 2046


-AIA - Critical Illiness (Complete Critical Cover) - S$ 1,638.00 / annual
AIA COMPLETE CRITICAL COVER
S$100,000.00
09 Apr 2057


-DEATH BENEFIT
S$10,000.00
09 Apr 2057
WP-CI COMPLETE CRITICAL COVER


AIA - Investment (Max Protector) - S$ 164 / mthly
-AIA MAX PROTECTOR
S$100,000.00
09 Nov 2082


-AIA MAX PROTECTOR-TPD
S$50,000.00
09 Nov 2042

-CPWP
S$150.00
09 Nov 2082


Prudential - PruLink Protection Account - s$297 / mthly
Total and Permanent Disability
Terminal Illness
Crisis Cover Provider III
Crisis Waiver III
AccidentDeath&DismembermentIII
Increase of Regular Premium
Terminal Illness
Total and Permanent Disability
Crisis Cover Provider III
Crisis Waiver III

Prudential - PruShield - s$277.00 / annually
PRUShield Basic - CPF
PruShield (A Premier)

Prudential - PruShield Extra - S$31 / mthly

Good that you are taking charge of your portfolio now.
With regards to your questions, no the policies you have provided so far doesn't seem to overlap each other. They will still pay out in the event something was to happen.

The policies do not cover you against early CI. All are late stage CI.

You have a wholelife plan, 1 term plan and 2 ILPs. Whether or not you are able to restructure your portfolio will depend on your current age, health conditions and of course what is your plan of action etc.

 

[trojanguy]

DOes getting an ILP Plan from AIA worth it?