Best standalone CI for coverage beyond 75

[windwaver]

Is there any good standalone CI plans that I can sign up to cover myself and my SO beyond age 75?

Currently I have an old CI plan for 30 CI till age 60 but I prefer something beyond that.

Thanks in advance!

 

[windwaver]

I will take some time to reply all the PMs.

Meanwhile, can somebody explain to me what's AIA Guaranteed Protect Plus (GPP) all about?

 

[peterchan75]

Pay until 65. Compare against others, no horse run.

 

[MikeZhang]

I will take some time to reply all the PMs.

Meanwhile, can somebody explain to me what's AIA Guaranteed Protect Plus (GPP) all about?

It is a limited pay whole life plan with multiplier.

 

[windwaver]

Pay until 65. Compare against others, no horse run.

Meaning good? Some multiplier plan only revert to base at age 70 instead of 65 right?

If I take this and add Early Critical Protector Life (ECPL) for CI protection until 100 years old, will that be better than taking up a term or other types of CI?

 

[windwaver]

Meaning good? Some multiplier plan only revert to base at age 70 instead of 65 right?

If I take this and add Early Critical Protector Life (ECPL) for CI protection until 100 years old, will that be better than taking up a term or other types of CI?

Either this or the Triple Critical Cover Life to cover until 100. Any better products out there?

 

[windwaver]

Anybody here don't believe in buying CI coverage after 60 years old?

 

[MikeZhang]

Either this or the Triple Critical Cover Life to cover until 100. Any better products out there?

My personal opinion is just get a basic early CI coverage. Dun have to spend too much on early CI as they are expensive. Just get them cover your 1 year income and estimated future alternative medication fee/cost which is good enough.

 

[peterchan75]

Meaning good? Some multiplier plan only revert to base at age 70 instead of 65 right?

If I take this and add Early Critical Protector Life (ECPL) for CI protection until 100 years old, will that be better than taking up a term or other types of CI?

Not an insurance expert. Here is what I did. Get proposal from 4 agents of different company. 3 out of 4 agent said, this one is good. It's based on individual needs. My needs and yours may not coincide. My original CI was tied to ILP.

 

[windwaver]

Not an insurance expert. Here is what I did. Get proposal from 4 agents of different company. 3 out of 4 agent said, this one is good. It's based on individual needs. My needs and yours may not coincide. My original CI was tied to ILP.

Yo buddy, I suppose that means your CI is covered till 60 as well?

Do you think there's a need for CI coverage beyond 60?

 

[peterchan75]

Yo buddy, I suppose that means your CI is covered till 60 as well?

Do you think there's a need for CI coverage beyond 60?

I am replying as per your thread title i.e. CI cover beyond 75. Sorry to confuse you. The policy that I am referring to, pay premium until 65 and in force until RIP.

As to need, nobody knows when will CI strike.

 

[windwaver]

I am replying as per your thread title i.e. CI cover beyond 75. Sorry to confuse you. The policy that I am referring to, pay premium until 65 and in force until RIP.

As to need, nobody knows when will CI strike.

No problem. You mentioned that your CI is tagged to your LIP right? Do you happen to know the name of the CI product?

Problem for me and SO is our current CI that covers till age 60 is tagged to our whole life policy and we can't upgrade the CI part beyond 60 years old.

Anybody here has a way around this other than a new plan?

 

[thekang]

I don't think there is a need for CI at all. Medishield Life covers most of the expenses. Of course, there are a few exceptions.

The main issue is cost. At higher ages, the probability of claiming for CI gets higher, so insurance companies will increase your premiums in some way.

If you think the premiums are worth paying for covering the exceptions, then go ahead since you can afford it.

 

[peterchan75]

No problem. You mentioned that your CI is tagged to your LIP right? Do you happen to know the name of the CI product?

Problem for me and SO is our current CI that covers till age 60 is tagged to our whole life policy and we can't upgrade the CI part beyond 60 years old.

Anybody here has a way around this other than a new plan?

I cash out that ILP with CI. Because I can't bear to see my cash value eaten up and still have to pay premium. It's my mistake getting the ILP with CI.

 

[Witwit84]

I don't think there is a need for CI at all. Medishield Life covers most of the expenses. Of course, there are a few exceptions.

The main issue is cost. At higher ages, the probability of claiming for CI gets higher, so insurance companies will increase your premiums in some way.

If you think the premiums are worth paying for covering the exceptions, then go ahead since you can afford it.

Hi, could you give more details on how Medishield Life covers most of the expenses of CI? I would like to know if I can save on CI coverage.

Seen a few real life examples:
1. Relative contracted lung cancer. Hospitalisation bills covered by hospitalisation insurance (in this case could by covered by Medishield Life), however, experimental drugs not covered by hospitalisation insurance. As we all know for cancer its mostly experimental drugs that have higher rates of success, so most ppl would want a shot at it. The pill costed $300/pill, amounting to about 9k per month. I do not think that you stay in the hospital throughout the cancer period so how will medishield life help in the day to day expenses? For eg, i see my relative switch to a healthier diet, like organic food, fresh fruits and veggies, cut down on outside hawker food, all this cost extra monies.

2. My boss's husband was hit with stroke suddenly, albeit a very major one. He was in the ICU and almost stopped breathing on one occasion, was fortunately resuscitated. Hospital bills was of course covered by hospitalisation insurance. He was subsequently discharged but he cannot work as he is bedridden and needs to go for physiotherapy. My boss also had to hire a maid to care for him as he is bedridden and she cannot afford to quit working to care for him. The loss of income plus the extra expenses to hire a maid as well as cook healthy food, plus buy a professional hospital bed for him etc is not covered by medishield life i believe?

And a few others (relatives too) which i wont detail here. The common thing I noticed in all the cases are that once they were hit with a CI:
1. loss of income is the thing that worries them most as they have a family.
2. their families in most cases, need to hire extra help to care for them as the family members themselves need to work.
3. diet is changed to be as healthy as possible for the sick as the family also wants him/her to recover as much as possible
4. some of them try TCM to aid in recovery (not cheap)

Believe the above items 2-4 are not covered by medishield life and this is what I'm concerned with most after seeing the real life cases for myself.

 

[windwaver]

I cash out that ILP with CI. Because I can't bear to see my cash value eaten up and still have to pay premium. It's my mistake getting the ILP with CI.

Yo bro, it's not your fault. Many people got into that fix 15 to 20 years ago because of mis-selling.

So what kind of CI plans do you have right now?

 

[windwaver]

Hi, could you give more details on how Medishield Life covers most of the expenses of CI? I would like to know if I can save on CI coverage.

Seen a few real life examples:
1. Relative contracted lung cancer. Hospitalisation bills covered by hospitalisation insurance (in this case could by covered by Medishield Life), however, experimental drugs not covered by hospitalisation insurance. As we all know for cancer its mostly experimental drugs that have higher rates of success, so most ppl would want a shot at it. The pill costed $300/pill, amounting to about 9k per month. I do not think that you stay in the hospital throughout the cancer period so how will medishield life help in the day to day expenses? For eg, i see my relative switch to a healthier diet, like organic food, fresh fruits and veggies, cut down on outside hawker food, all this cost extra monies.

2. My boss's husband was hit with stroke suddenly, albeit a very major one. He was in the ICU and almost stopped breathing on one occasion, was fortunately resuscitated. Hospital bills was of course covered by hospitalisation insurance. He was subsequently discharged but he cannot work as he is bedridden and needs to go for physiotherapy. My boss also had to hire a maid to care for him as he is bedridden and she cannot afford to quit working to care for him. The loss of income plus the extra expenses to hire a maid as well as cook healthy food, plus buy a professional hospital bed for him etc is not covered by medishield life i believe?

And a few others (relatives too) which i wont detail here. The common thing I noticed in all the cases are that once they were hit with a CI:
1. loss of income is the thing that worries them most as they have a family.
2. their families in most cases, need to hire extra help to care for them as the family members themselves need to work.
3. diet is changed to be as healthy as possible for the sick as the family also wants him/her to recover as much as possible
4. some of them try TCM to aid in recovery (not cheap)

Believe the above items 2-4 are not covered by medishield life and this is what I'm concerned with most after seeing the real life cases for myself.

Yes, the reasons why I am considering CI coverage (already on best shield with rider) beyond 60 is 1 to 4.

 

[peterchan75]

Yo bro, it's not your fault. Many people got into that fix 15 to 20 years ago because of mis-selling.

So what kind of CI plans do you have right now?

I pay till 65, and it covers as long as I live. Go ask eh-eye-eh agent lor.
Some say Medishield Life already covers, why bother CI.
Indeed, so I have halved it.

 

[vince123123]

Seems like AIA Guaranteed Protect Plus has some element of cash value. Is there a similar CI protection that is pure insurance without any cash value?

 

[windwaver]

I pay till 65, and it covers as long as I live. Go ask eh-eye-eh agent lor.
Some say Medishield Life already covers, why bother CI.
Indeed, so I have halved it.

Not sure if my understanding is correct.

Medi-shield Life does in cover some CI portions but not all, especially after discharge.

What did you halve?