Critical Illness coverage (CI)

[Synchroniza]

Yes! ECI tends to cover all stages of CIs



Fundamentally, if your return is not up to the projected rate in the future, you will have to eat into your own investment return ie, cost of insurance will be taken out from the cash value.




Well, a few pages ago you would have seen the discussion as to if the CI definition changes would be as drastic as how it is being advertised. To cut the long story short, it is to remove ambiguity as well as give more clarity as to what is claimable and what is not. I would say, what you are intending to get is definitely going to give you more coverage with lesser or equal premium!

Thanks for the reply winthony

Do you have any reccomandations on plans based on my needs for coverage? main ECI.

Age 23
male
non smoker.

Thanks

 

[winthony]

Thanks for the reply winthony

Do you have any reccomandations on plans based on my needs for coverage? main ECI.

Age 23
male
non smoker.

Thanks

No worries!

If mainly you are looking for ECI,
If you prefer limited premium payment term --> wholelife with multiplier
Otherwise Term

For product wise, you can consider the multipay product if you wish to get multiple claims or you can opt for a rider that pays out 1x sum upon diagnosis

Wholelife : 50k base for death/tpd + 50k base for ECI (accelerated) with 2x multiplier till age 70. Premium payment term of 20 years

$1488 annually

Term : Need minimally 155k to hit the min premium amount. So 155k death/tpd + 155k ECI (non-accelerated) , coverage till age 70

$1374.65 annually

Multipay 150k standalone till age 70

$1416 annually

These are just some rough recommendation on the products you can choose! You can always let me know how you want to tweak it and we will see what we can do to optimise your coverage. Mainly due to your age bracket, wholelife would be preferable since it would be cheaper in terms of total premium paid

 

[boredboiboi]

Thanks for the reply winthony

Do you have any reccomandations on plans based on my needs for coverage? main ECI.

Age 23
male
non smoker.

Thanks

Such a young age. I will totally recommend a wholelife plan. Wont recommend multipay. Term maybe.

 

[_天煞孤星_]

Hi guys,

In view of the tightening language in CI policies, I'm looking at getting a CI policy for my dad. He's 72 this year, non-smoker.

Do you have any advice for policies? I'm also looking to get an ISP for him.

Thanks!

 

[boredboiboi]

Hi guys,

In view of the tightening language in CI policies, I'm looking at getting a CI policy for my dad. He's 72 this year, non-smoker.

Do you have any advice for policies? I'm also looking to get an ISP for him.

Thanks!

72 years old. Dont bother. Alot of companies dont take and even if have, the premium is sky high.
Hospital plan maybe. But why did u take so long until now then look for a plan for him? Is he perfectly healthy?

 

[oceanjet]

Thanks for the quotes!

I saw in one of the replies that whole life is recommended for younger people, for eci/ci coverage.

Could pm me more details as I am unable to pm due to low post count.

Thank you

 

[boredboiboi]

Thanks for the quotes!

I saw in one of the replies that whole life is recommended for younger people, for eci/ci coverage.

Could pm me more details as I am unable to pm due to low post count.

Thank you

Pm u on that. Yup i always suggests wholelife plan for younger people

 

[xtwis7]

My advice is please get him onboard one of the ISPs as soon as possible. GE SupremeHealth B plus is usually a preferred option for elderly since it’s a B1 as-charged policy.

Note that you shouldn’t apply for the rider together because he’ll be subject to a medical examination for both ISP and it’s rider.

As for CI, his premiums may just not make sense anymore because there’s no leverage and they will most likely call for a medical examination also.

You may ask here if you have any questions.

Hi guys,

In view of the tightening language in CI policies, I'm looking at getting a CI policy for my dad. He's 72 this year, non-smoker.

Do you have any advice for policies? I'm also looking to get an ISP for him.

Thanks!

 

[winthony]

Hi guys,

In view of the tightening language in CI policies, I'm looking at getting a CI policy for my dad. He's 72 this year, non-smoker.

Do you have any advice for policies? I'm also looking to get an ISP for him.

Thanks!

Unfortunately due to your dad's age bracket, it might not make financial sense to opt in for a CI product since the premium is going to be insanely high

I would say look at his ISP and see what coverage is he on at the moment. If he is not insured under an ISP, your best bet would be to get him on that ASAP

 

[twinklingstars]

Hi, any comments on AXA Life Treasure and AXA Term protector, as compared with other CI plans? Thank you!

 

[moejoseph]

Hi, any comments on AXA Life Treasure and AXA Term protector, as compared with other CI plans? Thank you!

Hi, comments as in comparison? For AXA life plans, ECI covers 38 (early) + 33 (intermediate) + 40 (advanced) stages of CIs.

For ALT, if ECI rider is added, it will payout extra 50% of ECI coverage in time of claim for 3 major CI (Heart Attack, Stroke, Major Cancers). Multiplier up till 7x

For Term + ECI, premium is currently the lowest.

CI & ECI will be on accelerated basis by the way.

 

[fireduke86]

Hi, any recommendations for ECI (old definitions, if possible) for 34 male, non smoker? I have Aviva SAF Term and Prudential hospitalisation plan currently. Thank you.

 

[winthony]

Hi, any recommendations for ECI (old definitions, if possible) for 34 male, non smoker? I have Aviva SAF Term and Prudential hospitalisation plan currently. Thank you.

Hello!

Are you looking for multiple claims option?

If not your best bet is getting on a term + eci rider as standalone eci products are outdated and pricier!

 

[fireduke86]

Hello!

Are you looking for multiple claims option?

If not your best bet is getting on a term + eci rider as standalone eci products are outdated and pricier!

I'm open to multi claim if it isn't exorbitant. Been trying to look for options, can I ask if you have any to recommend?

 

[_天煞孤星_]

My advice is please get him onboard one of the ISPs as soon as possible. GE SupremeHealth B plus is usually a preferred option for elderly since it’s a B1 as-charged policy.

Note that you shouldn’t apply for the rider together because he’ll be subject to a medical examination for both ISP and it’s rider.

As for CI, his premiums may just not make sense anymore because there’s no leverage and they will most likely call for a medical examination also.

You may ask here if you have any questions.

Thanks for your reply. I'm looking at PruExtra plus Co-pay. Was quoted $1,785 medisave, $1,553 cash premium annually.
Does that sound unreasonable or are there better plans out there?

 

[boredboiboi]

Hi, any recommendations for ECI (old definitions, if possible) for 34 male, non smoker? I have Aviva SAF Term and Prudential hospitalisation plan currently. Thank you.

Eci can be bought as a rider for a term or wholelife plan
Or standalone would be multipay ci

 

[fireduke86]

Eci can be bought as a rider for a term or wholelife plan
Or standalone would be multipay ci

I am aware of this. I would have bought the rider for my SAF term to save trouble except that I read that the new definitions would be adopted regardless of when I bought the rider.

 

[winthony]

I'm open to multi claim if it isn't exorbitant. Been trying to look for options, can I ask if you have any to recommend?

will have to know your desired coverage amount and length to generate some quotations for you!

 

[boredboiboi]

I am aware of this. I would have bought the rider for my SAF term to save trouble except that I read that the new definitions would be adopted regardless of when I bought the rider.

Yup. That 1 of the reason when u r not the owner of the policy

 

[fireduke86]

will have to know your desired coverage amount and length to generate some quotations for you!

Say between $100K to $150K till 65?