CI Plan: Early Stage or Term

[AhPek_Lion]

Hi

I am looking for a CI plan. Currently, I have 2 quotations from NTUC for 24yr old male, non smoker.

- VivoCare 25yrs payment period ($2255.70/yr) cover till 85yr old for Early Stage with cash benefits

- i-Term 300k TPD and 100k CI ($816.20/yr) cover till 65yr old



I did my calculations and found that vivocare, i pay total $56,393 for coverage still 85 or if decide to surrender at 65, still can get cashback.

For I-term, i pay $33,464 but no cashback. Really cant decide on which to get.


Also, does any other insurance has a better deal to offer me?

 

[kebinu]

Have to look at the whole financial portfolio to better determine which is better IMO.

 

[bloodsucker]

If you get SAF Aviva 300k life/tpd, and 100k CI, total is about $520/yr. Life level premium till 65, CI till 45. Think this is the cheapest. Don't know why people like to compare when a govt one is always cheapest lol

 

[AhPek_Lion]

If you get SAF Aviva 300k life/tpd, and 100k CI, total is about $520/yr. Life level premium till 65, CI till 45. Think this is the cheapest. Don't know why people like to compare when a govt one is always cheapest lol

I did a calculation.... After factoring in ci premium till 65, NTUC is still cheaper

 

[AhPek_Lion]

For Vivocare, the coverage is whole life except TPD which ends at age 65. I wonder who give you the impression that coverage cease at age 85.

As Vivocare & i-Term are two different plans, it's not easy to make a direct comparison although they look similar at first glance.

Another plan you can look at is Vivolife.

Hope this helps.

So am I right to say TPD cover ends at 65 and as long as I don't surrender the plan, I will be covered for ci whole life

 

[PruCorgi]

NTUCagent:
1. Am I right to say that VivoCare will provide whole life coverage for early stage dread disease, but VivoLife doesn't?

2. However, both are whole life participating plans (i.e. will have cash/surrender value), right?

AhPek_Lion:
I don't think there's a definite right/wrong answer here. Depends on what kind of consumer/investor you are, as well as your specific financial situation.

If you are more of a DIY-type then it would make more sense to get the term. You can then channel the rest of the premium into investments.

However, the nice thing about whole life is that you can also use it as a type of forced savings and secondary source of funds (either through surrendering or policy loan) at a later point in time. And it's basically hassle-free once you start the plan.

I'm not a pure DIY'er myself. I DIY some of my investments but also have a few insurance plans where I basically just remember to pay/save the premiums on a regular basis.

 

[matchy]

tot that day u looking at AIA plans...why suddenly no consider?

 

[AhPek_Lion]

tot that day u looking at AIA plans...why suddenly no consider?

cos after calculating, AIA is rather ex considering that there is no cashback and paying about 100+/mth for 100k cover

Furthermore the early stage payout only 25%

 

[matchy]

cos after calculating, AIA is rather ex considering that there is no cashback and paying about 100+/mth for 100k cover

Furthermore the early stage payout only 25%

it depend on why u need early stage payout....cos usually u notice that the amount not alot...

fyi our payout is 50% not 25%

 

[Kokoblack]

I'm looking for a $150K CI and $75K Early CI quote for 24 ANB Female Non-Smoker.. 25years term