Critical Illness coverage (CI)

[mata_hippo]

Oh didnt know

So if im still on ccc/tcc, r they good?

Phased out, replaced by Triple critical cover

 

[Bigoya]

That is very close to Prulife quotation. I thought term will be at least 30% cheaper. Thank you.

Term benefits those who believe in BTIR. Otherwise WL potentially works better.

Also, the concern here seems to be on ECI rather than life/TPD, otherwise Term would be necessarily part of your portpolio.

 

[Bigoya]

Oh didnt know

So if im still on ccc/tcc, r they good?

Based on my last impression of TCC, starbucks is better.

JK, multipay is better.

 

[akwl88]

That is very close to Prulife quotation. I thought term will be at least 30% cheaper. Thank you.

check out the non-guaranteed portion, premiums per yr, coverage amount for whole-life

you are paying $1 for 50c

 

[mata_hippo]

I thought of the same tcc when i typed thatout haha...

Ok will take a look at multipay

Based on my last impression of TCC, starbucks is better.

JK, multipay is better.

 

[shau61]

Term benefits those who believe in BTIR. Otherwise WL potentially works better.

Also, the concern here seems to be on ECI rather than life/TPD, otherwise Term would be necessarily part of your portpolio.

What is BTIR?

 

[shau61]

check out the non-guaranteed portion, premiums per yr, coverage amount for whole-life

you are paying $1 for 50c

Term: 70 years old already paid $60000 (no returns)

Wholelife: 70 years old already paid $83340, Guarantee surrender $54547-$58045, Total surrender $68730 - $112592

For term surrender get nothing. Have to pay till death. Family will benefit. For Wholelife still can surrender and get back something.

 

[akwl88]

Term: 70 years old already paid $60000 (no returns)

Wholelife: 70 years old already paid $83340, Guarantee surrender $54547-$58045, Total surrender $68730 - $112592

For term surrender get nothing. Have to pay till death. Family will benefit. For Wholelife still can surrender and get back something.

how u derive ur term's premiums? can sic how much u pay per year for what amt of coverage and does it cover tpd and ci?

same for whole life

dont just look at costs only. must look at overall pic

highlighted in bold - common reply by agents to sell whole life, very general statement but left out the exact details and figures

 

[akwl88]

you can stop paying for term insurance once u have no dependents liao

no need to wait till 65

 

[shau61]

$1,500 pay for 40 years.

how u derive ur term's premiums? can sic how much u pay per year for what amt of coverage and does it cover tpd and ci?

same for whole life

dont just look at costs only. must look at overall pic

highlighted in bold - common reply by agents to sell whole life, very general statement but left out the exact details and figures

Have not bought yet. Quotation given by Agent on Wholelife cover TPD & ECL

 

[Bigoya]

What is BTIR?

"Buy Term Invest the Rest"
This is only for people who knows about investment.

 

[Bigoya]

I thought of the same tcc when i typed thatout haha...

Ok will take a look at multipay

So u got the BI and Product Summary?

Based on ANB 32 male non-smoker, a $100k SA with TCC cost $1.7k/yr to age 75. It cost $1.5k/yr to age 75 with MPCI for the same $100k SA.

Max claim limit of TCC is 300% of SA, max claim limit of MPCI is 500% of SA.

For TCC, say ur SA is $100k, whether u kena ECI or CI u claim $100k.
On the other hand for MPCI, you kena ECI u claim $100k but CI u claim up to $300k.

No matter how I see it, MPCI wins hands down.
However, TCC death benefit = 100% SA. But, please buy a normal Term to cover your death instead, add up all the cost still gonna be cheaper.

 

[nothing.sg]

Hi guys,

For 28-33 years old male, non smoker, no pre-existing conditions.

Any recommendations for:
1. CI to age 65, sum assured 100-200K
2. Term to age 65, sum assured 400K-500K

or

Would you recommend a higher sum assured term + CI rider till age 65?

 

[mSnooze]

Hi guys,

For 28-33 years old male, non smoker, no pre-existing conditions.

Any recommendations for:
1. CI to age 65, sum assured 100-200K
2. Term to age 65, sum assured 400K-500K

or

Would you recommend a higher sum assured term + CI rider till age 65?

Find a cheap one e.g. Aviva Term/CI, if Early Ci inclusive: MultiPay CI. Sum assure depends on your liability.

 

[bendi85]

Find a cheap one e.g. Aviva Term/CI, if Early Ci inclusive: MultiPay CI. Sum assure depends on your liability.

The MHA aviva group insurance coverage for CI is quite little, about 37 illnesses only.
Is it better to buy a standalone CI coverage to complement the MHA aviva group insurance?

 

[demoforce1]

in general, what is the best insurance product for CI?
I think prudential is expensive, any comments?

 

[bendi85]

in general, what is the best insurance product for CI?
I think prudential is expensive, any comments?

How much is prudential?

 

[andyhtc]

in general, what is the best insurance product for CI?
I think prudential is expensive, any comments?

I used to be with Prudential for some of their insurance policies, but it has been increasing their premiums in recent years. In the end I terminated them and keep only the life/saving policies with Prudential.

Now I'm with Mindef Aviva for lower premium (roughly half) for critical illness, term, accident policies etc. The Mindef Aviva coverages could be slightly inferior but I used the significant saving to buy insurance for my dependents.

 

[BBCWatcher]

When you buy term insurance there’s no cash value in it so a lot of my clients do not like the idea of ‘wasting their money’.

Of course, it's a mere coincidence that insurance salespeople prefer higher premium, more opaque products with fatter commissions that are more difficult to compare.

 

[snorex]

Didn't want to create a separate thread since wanted to ask about the same topic.

If I want to buy CI, what are the good value for money plans for:
1) Standalone CI coverage?
2) Term + CI coverage? Currently, I am looking at the MINDEF group insurance plan. Any other better options?

Thank you.