AIA Secure Critical Cover

[PumpedUp]

hi guys, what are your opinions for this term policy? or better policies that u guys were to recommend?

some details of the policy:

- Covers Death, TPD and major Critical Illness.

- Covers till age 75

- No surrender value & No return

- sum assured $100,000

- premium $1,052 before discount

i also understand there is another policy called Complete Critical Cover under AIA that is slightly more pricey but covers early critical illness. should i consider that?

30yo male, smoker.

many thanks in advance for your valuable inputs!

 

[Expert]

In before aviva group term insurance..

 

[PumpedUp]

In before aviva group term insurance..

is this better and a more popular choice for critical illness cover?

can share more info?

 

[PumpedUp]

apart from the critical cover that i plan to buy, i also have personal accident cover from AIA which im currently paying about $350 per annum. i have read through the SAF group term insurance briefly and wonder if i should just buy the SAF group term insurance and withdraw from AIA. is the coverage enough?

any advices for me cos im really noob at this? thanks!

 

[Lifeessentials]

Are you in good health presently? If you have any medical history that may lead to exclusion, you should not think of replacing your policy.

SAF Aviva appears cheaper in the early years as the rates increase based on age every 5 years while SCC is a level term (flat premium throughout). In totality (cover till age 70 as Aviva doesn't cover beyond that age), the premiums are not that different. It can be used to increase your coverage during your younger and productive years but probably not something you will keep for old age. When you are older, you may have tendency to stop the premiums because you are used to paying so much lower before or you may lose your income earning potential in old age and therefore lose your cover. SCC is also convertible to a whole life insurance.

IIrc, Aviva critical illness only covers till age 65 (therefore premiums are cheaper as the period is shorter and risks are lower).

 

[PumpedUp]

Are you in good health presently? If you have any medical history that may lead to exclusion, you should not think of replacing your policy.

SAF Aviva appears cheaper in the early years as the rates increase based on age every 5 years while SCC is a level term (flat premium throughout). In totality (cover till age 70 as Aviva doesn't cover beyond that age), the premiums are not that different. It can be used to increase your coverage during your younger and productive years but probably not something you will keep for old age. When you are older, you may have tendency to stop the premiums because you are used to paying so much lower before or you may lose your income earning potential in old age and therefore lose your cover. SCC is also convertible to a whole life insurance.

IIrc, Aviva critical illness only covers till age 65 (therefore premiums are cheaper as the period is shorter and risks are lower).

hi, thanks for the reply. yes, i am in good health presently and do not have any medical history. thanks for highlighting the difference in premium between the 2 policies, i thought SAF Aviva is the same as AIA (flat premium throughout). all i noticed was the difference in payout and realised SAF Aviva is so much higher than AIA.

i think i need to speak to my insurance agent and have her evaluate the difference between these 2 policies. hopefully she would be truthful and impartial.

 

[Emmmma]

I think the AIA policy you mentioned, CI and Life policy are not exclusive? Meaning if CI occurs, it pays out and the policy will terminates? For SAF one death, TDP is exlcusive of CI. meaning if kena major illness, you will be able to claim CI payout and still have life policy.