Best Term Insurance Plan(Do Not Solicit for Pm)

[akwl88]

And also not everybody continues their policy till the end, either they see no need the policy anymore so stop paying, or no money to continue paying premium and forced to stop. So the money the insurance company built up in anticipation of paying the claim can be pocketed.

Some of the policies are meant to lock up your money till maturity. Meaning you bobian have to pay and pay or surrender at a loss.

These policies are the ones with high comms which agents like to sell.

 

[lindanna]

Hi,

Wld like to ask if it is feasible to buy multiple term plans? Im intending to get 400k term with CI + ECI. After buying that, can I also direct term (with/without CI rider) around 200k to increase coverage?

In the event of a claim, am I able to claim from both policies? What if they are from different insurance co?

TIA

 

[iamveryguailan]

Don't nonsense dude.

Want to act like non-agent then don't even bother PM-ing people telling that you are an agent in the first place.

If you want to get business in this forum, then you should learn a thing or two from people like Bigoya and others, provide real, genuine and helpful advice and some people will naturally contact you if they need any plans.

From your posts, seems like you are having a difficult time as an agent. Maybe you should consider carefully whether this career is really suitable for you or not.

Wa tio exposed

 

[Bigoya]

Hi,

Wld like to ask if it is feasible to buy multiple term plans? Im intending to get 400k term with CI + ECI. After buying that, can I also direct term (with/without CI rider) around 200k to increase coverage?

In the event of a claim, am I able to claim from both policies? What if they are from different insurance co?

TIA

Based on general guide line, $1M split into 2 $500k Term plan will cost more than a single $1M term plan.
Same thing with buying 6 individual cans of coke compared to 1 pack of 6.

For your case, buying $500k death/tpd/ci from direct plus $100k death/tpd/CI plus a ECI rider (provided u choose the right one), woukd provide better value.

In the event of claim, u can claim from all ur policy that covers the event of claim.

 

[lindanna]

Thanks Bigoya


Btw, I am open to receiving quotes from diff companies for term plan with ECI. Until 70yo, 22 F. Wld be grateful if there is a range in coverage eg 100k,200k,..until max 400k? Wld like to compare before I purchase any. Thanks!

 

[Bigoya]

Thanks Bigoya

Btw, I am open to receiving quotes from diff companies for term plan with ECI. Until 70yo, 22 F. Wld be grateful if there is a range in coverage eg 100k,200k,..until max 400k? Wld like to compare before I purchase any. Thanks!

Sit down with an IFA agent. Every quote could be easily generated right infront of you and minus those unecessary ding-dongs and confusions.

You shouldnt feel obligated to get anything from him/her. If u feel you hasnt been treated fairly, just move on and engage another one.

 

[wellplayed]

Long time lurker here, finally decided to get some quotes for term.

Can I get term quotes for the below? I'm male, non-smoker, 29 ANB.

(i) 200k (death, TI, TPD, CI) term to 65
(ii) 200k (death, TI, TPD, CI) term to 99
(iii) 300k (death, TI, TPD, CI) term to 65
(iv) 300k (death, TI, TPD, CI) term to 99

Please give me the annual premiums for pay until 65. If you can, please let me know which company the plan is from also.

Getting these so I can compare - will probably decide based on the budget I have in mind.

Thanks in advance!

 

[donrick]

I am actually also looking around for the best premiums for $1m death coverage (term) till 99 years old. Are the premiums locked in and won't fluctuate in future?

 

[akwl88]

I am actually also looking around for the best premiums for $1m death coverage (term) till 99 years old. Are the premiums locked in and won't fluctuate in future?

rational for getting till 99?

premiums will fluctuate according to insurers

 

[donrick]

because i wont live till 99

 

[akwl88]

because i wont live till 99

Er ok....

I meant it as do you need the insurance coverage till 99

 

[Bigoya]

Long time lurker here, finally decided to get some quotes for term.

Can I get term quotes for the below? I'm male, non-smoker, 29 ANB.

(i) 200k (death, TI, TPD, CI) term to 65
(ii) 200k (death, TI, TPD, CI) term to 99
(iii) 300k (death, TI, TPD, CI) term to 65
(iv) 300k (death, TI, TPD, CI) term to 99

Please give me the annual premiums for pay until 65. If you can, please let me know which company the plan is from also.

Getting these so I can compare - will probably decide based on the budget I have in mind.

Thanks in advance!

(i) 200k (death, TI, TPD, CI) term to 65
- AIA - N.A
- AXA - $726.78
- Aviva - N.A.
- ML - $906
- NTUC - $1273.80
- TM - N.A.

(ii) 200k (death, TI, TPD, CI) term to 99
- AIA - N.A
- AXA - $1766.52
- Aviva - N.A.
- ML - N.A.
- NTUC - N.A.
- TM - N.A.

(iii) 300k (death, TI, TPD, CI) term to 65
- AIA - N.A
- AXA - $1090.17
- Aviva - N.A.
- ML - $1123.20
- NTUC - $1880.15
- TM - N.A.

(iv) 300k (death, TI, TPD, CI) term to 99
- AIA - N.A
- AXA - $2028.78
- Aviva - N.A.
- ML - N.A.
- NTUC - N.A.
- TM - N.A.

All quotes provided above have premium term equal to policy term.
AXA is the only insurer that provides limited pay feature, limited pay 20yrs for (iv) would be $4648.11

I hope you are doing proper financial planning rather than just buying policies/sum assured based on price or misinformed assumptions. Ask questions if you have to.

 

[Bigoya]

I am actually also looking around for the best premiums for $1m death coverage (term) till 99 years old. Are the premiums locked in and won't fluctuate in future?

Death and TPD coverage premiums are level and guaranteed.
CI coverage are level but non-guaranteed.
Therefore for your case, premium is level and guaranteed.

Premiums below based on Age 29 ANB, M, Non Smoker

AIA - $3000
Aviva - $3369.80
AXA - $2712.00
NTUC - $2607.60

 

[abc-xyz]

Hi,

1)500k death/tpd + 200k CI term to 75
2)500k death/tpd + 200k ACI term to 75


I have a couple of questions in mind too after reading many pages back.

1) What is CI Coverage and CI Waiver?
2) Why are there not much prudential quotes?
3) If i already have a prudential shield plan, possible to get a term plan from another agency?
3) If i sign for a said term, is it possible to upgrade/increase the amount down the road or do i have to purchase another term to do so?
4) A few post above by Bigoya, does XXXk (death, TI, TPD, CI) and XXXk death/tpd + XXXk CI have any difference?

TIA

 

[Bigoya]

Hi,

May i get a quote as a male. non-smoke, ANB 28 for

1)500k death/tpd + 200k CI term to 75
2)500k death/tpd + 200k ACI term to 75


I have a couple of questions in mind too after reading many pages back.

1) What is CI Coverage and CI Waiver?
2) Why are there not much prudential quotes?
3) If i already have a prudential shield plan, possible to get a term plan from another agency?
3) If i sign for a said term, is it possible to upgrade/increase the amount down the road or do i have to purchase another term to do so?
4) A few post above by Bigoya, does XXXk (death, TI, TPD, CI) and XXXk death/tpd + XXXk CI have any difference?

TIA

1)500k death/tpd + 250k CI term to 75 - $1163.50

2)500k death/tpd + 200k ACI term to 75 - What's ACI?



1) CI cover pays out in the event of CI. CI waiver waives premium payments for other riders and basic policy in the event of CI.

2) IFAs do not have access to Prudential's products. Not much Prudential agents in the forum.

3) Nothing is stopping you to get insurance coverage from different insurers.
Whichever provides the best coverage at lower cost, go for it.

3) You can upgrade but you'd need to go through underwriting again and premiums for the top-up would be based on new attained age.

4) Technically speaking they are different, but to me it's not significant.
TI means terminal illness, doctor say you can't survive more than 12 months. Whether you get your "death benefit" 12 months in advance or 12 months later doesn't really matter, unless you want to go travelling in your last few months or you want to die a millionaire (if you buy a $1M coverage i.e.).
Generally most companies/plans covers both death and TI, the only concern should be premium difference in the plans IMO.

 

[mSnooze]

Hi,

May i get a quote as a male. non-smoke, ANB 28 for

1)500k death/tpd + 200k CI term to 75
2)500k death/tpd + 200k ACI term to 75


I have a couple of questions in mind too after reading many pages back.

1) What is CI Coverage and CI Waiver?
2) Why are there not much prudential quotes?
3) If i already have a prudential shield plan, possible to get a term plan from another agency?
3) If i sign for a said term, is it possible to upgrade/increase the amount down the road or do i have to purchase another term to do so?
4) A few post above by Bigoya, does XXXk (death, TI, TPD, CI) and XXXk death/tpd + XXXk CI have any difference?

TIA

For your profile, Male, Non-smoker, ANB 28,

$500k Death/TPD + $250k Accelerated CI to 75 costs: $1,163.50/year.

Most normal CI comes in the form of accelerating rider, so your 1 & 2 are the same, unless you talking about quotes for Early CI.

1) CI coverage are in accordance to LIA standard of 37 illnesses in severe stages (stage 3 and 4); CI waiver is a rider that helps you waive off subsequent premiums when you are diagnose with CI.

2) There is pru agents around, just not that active i suppose.

3) Yes possible, you are not bound to a single company.

4) Can, now there are quite a few term plans that allow you to increase your sum assure coverage during key life events (e.g. getting married, purchase of property, etc.) to a certain amount. If not you can buy additional term for top up.

5) XXXk (death, TI, TPD, CI) : means all the rider has the same coverage amount as the basic plan sum assure.
XXXk death/tpd + XXXk CI : means that the sum assure coverage for death/tpd and CI is different.

 

[abc-xyz]

Thank you Bigoya and mSnooze for the fast replies.

@Bigoya
The ACI i was referring to was Accelerated CI. Sorry for the confusion.


Is this plan under AXA or Aviva?

So i have to pay $1163.5/year till i reach 75? Price wont increase due to age or what so ever reason?

For 5), so for my quoted plan, if i get CI but i never die yet, i would get only 250k first but if i die and never get CI, i get only 500k ? whereas if i get a 750K (death, TI, TPD, CI) plan, i would get 750k straight?
So i assume that the latter plan would generally be more expensive if i the amount to be the same eg. 750k?

 

[mSnooze]

Thank you Bigoya and mSnooze for the fast replies.

@Bigoya
The ACI i was referring to was Accelerated CI. Sorry for the confusion.


Is this plan under AXA or Aviva?

So i have to pay $1163.5/year till i reach 75? Price wont increase due to age or what so ever reason?

For 5), so for my quoted plan, if i get CI but i never die yet, i would get only 250k first but if i die and never get CI, i get only 500k ? whereas if i get a 750K (death, TI, TPD, CI) plan, i would get 750k straight?
So i assume that the latter plan would generally be more expensive if i the amount to be the same eg. 750k?

This plan is under Aviva.

Yes premium is level, however the premium of accelerating CI rider is level but not guarantee. This is standardize in across the industry and may change subject to future experiences.

so for my quoted plan, if i get CI but i never die yet, i would get only 250k first but if i die and never get CI, i get only 500k ?

Yes you are correct.

Yup it will be more expensive, CI rider premium will take up almost half of the policy premium already, and you are getting 3 times of 250k to get 750k Accelerating CI coverage.

for your profile,

$750k Death/TPD/ACI till 75 will cost $2,302.40/year.

 

[havetheveryfun]

(i) 200k (death, TI, TPD, CI) term to 65
- AIA - N.A
- AXA - $726.78
- Aviva - N.A.
- ML - $906
- NTUC - $1273.80
- TM - N.A.

(ii) 200k (death, TI, TPD, CI) term to 99
- AIA - N.A
- AXA - $1766.52
- Aviva - N.A.
- ML - N.A.
- NTUC - N.A.
- TM - N.A.

(iii) 300k (death, TI, TPD, CI) term to 65
- AIA - N.A
- AXA - $1090.17
- Aviva - N.A.
- ML - $1123.20
- NTUC - $1880.15
- TM - N.A.

(iv) 300k (death, TI, TPD, CI) term to 99
- AIA - N.A
- AXA - $2028.78
- Aviva - N.A.
- ML - N.A.
- NTUC - N.A.
- TM - N.A.

All quotes provided above have premium term equal to policy term.
AXA is the only insurer that provides limited pay feature, limited pay 20yrs for (iv) would be $4648.11

I hope you are doing proper financial planning rather than just buying policies/sum assured based on price or misinformed assumptions. Ask questions if you have to.

I guess you should also include the 500k whole life/250k CI,TPD,etc combo quotes for him too... they seem more worth it and comparable to the prices and most of the above companies have those plans compared to the 250k/300k plan which not a lot of them carries

 

[Bigoya]

I guess you should also include the 500k whole life/250k CI,TPD,etc combo quotes for him too... they seem more worth it and comparable to the prices and most of the above companies have those plans compared to the 250k/300k plan which not a lot of them carries

You are absolutely correct bro.
There are many options and ways to fit the puzzle, but i dont think it is a good use of my time generating quotes for every single possible permutations when I'm not even sure if he knows what kind of coverage he wants.

The chance of generating a hundred and one quotes and end up he decides to take up something else is high as he slowly figures out what he actually want. Such process are least effective.

My approach to financial planning is needs and value-based, not a one direction quote-based.