Early Critical Insurance

[ZEBRA85]

i'm 29 this year and i have gotten a life insurance from prudential but with only 60K coverage. i am paying $150 monthly. am thinking of getting another policy higher coverage. Is Early Critical life policy essential since these days, many people are talking about it. but understand for such policy, premium is much higher than normal CI policy.

Kindly advise and compare your thoughts and policy.

 

[Aerial86]

It is a good to have if budget allows as it provides you and your family with a source of financial help. Usually at an early stage of critical illness, patient will most likely be unable to work so therefore a loss of income will create a burden to the family's life.

Overall coverage of a person depends on their responsibilities and liabilities that they are shouldering. A person earning lesser does not mean that he will need lower coverage as he might be the sole breadwinner. I believe if you are still not clear about what you need, that agent might not have done a good job except for product selling..

Pardon me if I've said something offending but it seems to me that this forum has too much similar post where people are still unclear of their needs even after buying their insurance. It should be part of the agent's responsibility to provide advisory. If you have no confident in your agent, time to change as they should be an important point of contact when things happen.

 

[lukaloo]

When you are in early stage (2nd stage), most of the time you are still able to work in the long run. The role of early stage cover is to payout a lump sum so that you can take a break from work and go through your treatment, both physically and emotionally.

Hence, i normally suggest the coverage is more or less your 6 months to 1 year income replacement.

3rd stage on the other hand normally will affect your ability to work (shorter working hours, or long MC for treatment). BUT, NOT NECESSARILY YOU WILL DIE WITHIN 5 YRS.

The payout is meant to replace your income loss, or even to cover alternative treatment like gene therapy or TCM oversea, that not covered under shield insurance.

More importantly, when you get sick, this payout enable you to full fill your life long dream.

Coverage for critical stage recommended to be 5 to 10 yrs annual income equivalent.

We are the same age, since your current sum assured is only $60k, you may consider getting a term to boast up the coverage.

For term, $500k for death/TPD + $250K Critical illness +$50K Early stage:
Monthly premium = $107

If you have budget can consider life : $300K death/TPD + $250K CI + $50K EarlyStage
Monthly Premium = $277

Cheers.

 

[Aerial86]

When you are in early stage (2nd stage), most of the time you are still able to work in the long run. The role of early stage cover is to payout a lump sum so that you can take a break from work and go through your treatment, both physically and emotionally.

Hence, i normally suggest the coverage is more or less your 6 months to 1 year income replacement.

3rd stage on the other hand normally will affect your ability to work (shorter working hours, or long MC for treatment). BUT, NOT NECESSARILY YOU WILL DIE WITHIN 5 YRS.

The payout is meant to replace your income loss, or even to cover alternative treatment like gene therapy or TCM oversea, that not covered under shield insurance.

More importantly, when you get sick, this payout enable you to full fill your life long dream.

Coverage for critical stage recommended to be 5 to 10 yrs annual income equivalent.

We are the same age, since your current sum assured is only $60k, you may consider getting a term to boast up the coverage.

For term, $500k for death/TPD + $250K Critical illness +$50K Early stage:
Monthly premium = $107

If you have budget can consider life : $300K death/TPD + $250K CI + $50K EarlyStage
Monthly Premium = $277

Cheers.

So when is intermediate stage if you say early stage is stage 2?

 

[kebinu]

Certain cancer stage 2 is intermediate, some require stage 3.

It's a rough gauge. Nevertheless, the definition of the diagnosed cancer will be checked against the definition in the policy contract.

 

[tanjhj]

to me,

Early cancer coverage policy just look at vivocare or asialife one. the others can forget abt it.

 

[o0KelviN0o]

u got serve NS?

Aviva SAF group insurance has rider for early CI (coverage up to $200k)

 

[tanjhj]

u got serve NS?

Aviva SAF group insurance has rider for early CI (coverage up to $200k)

actually no need serve army also can get...shhhh

 

[Aerial86]

Provided you are fine with the Aviva covering only 10 illnesses instead of the 30 for standard CI plans... You pay for what you get

 

[IFAadvisor]

i'm 29 this year and i have gotten a life insurance from prudential but with only 60K coverage. i am paying $150 monthly. am thinking of getting another policy higher coverage. Is Early Critical life policy essential since these days, many people are talking about it. but understand for such policy, premium is much higher than normal CI policy.

Kindly advise and compare your thoughts and policy.

Hi,

The insurance industry is pushing out early CI coverage because due to medical advances, many are being diagnosed for early CI. It is a good to have and currently only NTUC and Tokio Marine provide coverage for lifetime while the rest are term plans.

As for definition, they cover from stage 0, carcinoma in situ of specified organs. The critical illness definition requires malignancy, uncontrolled growth and spreading with invasion or normal tissues. Stages are not very accurate as each cancer stage defers from other. eg. Leukaemia vs Breast Cancer.

We concentrate on cancer, because it is the most common of the CI list. The insurer do offer early CI coverage for the rest of 30. Eg. Paralysis.. Early form will be lost of use for 1 limb.

The payout for such plan differs from one another too, and contractual differs eg. NTUC inter-related dread disease not covered.

Hope this helps.

 

[wickedpork]

The majority of people only want cheap, they don't care about quality. I've been reading this forum and that's the general opinion I get.

They don't read into the fine prints.

Anyway, Aviva's Sg office is the only one left in Asia... the rest have closed down. I leave you to make your own conclusion.

Provided you are fine with the Aviva covering only 10 illnesses instead of the 30 for standard CI plans... You pay for what you get

 

[MultiplyYourWealth]

Anyway, Aviva's Sg office is the only one left in Asia... the rest have closed down. I leave you to make your own conclusion.

Where did you get your source from? I went to Aviva website and did some research. It seems that they still have their offices in Hong Kong, China and some stakes in other Asian countries.

You must be careful with your allegations as these rumours are tantamount to libel charges.

 

[pinpinpin]

actually no need serve army also can get...shhhh

Like that female no serve ns can get?

 

[peacefulday]

SAFRA Essential Term and SAFRA Living Care give you and your family1 greater security in times of need with high coverage at low premiums. For just $1.002 per month, you will be able to enjoy basic insurance coverage against Death and Total and Permanent Disability (TPD before the age of 65) under SAFRA Essential Term. You can also enhance your coverage to include 30 Critical Illnesses protection with SAFRA Living Care.

https://www.income.com.sg/insurance/SAFRA/index.asp

 

[bigmice]

i'm 29 this year and i have gotten a life insurance from prudential but with only 60K coverage. i am paying $150 monthly. am thinking of getting another policy higher coverage. Is Early Critical life policy essential since these days, many people are talking about it. but understand for such policy, premium is much higher than normal CI policy.

Kindly advise and compare your thoughts and policy.

for early stage policy, cannot only compare premium.
should compare BI first anf then premium. then you will know which one suit for you.

 

[BombVoyage]

Hi,

The insurance industry is pushing out early CI coverage because due to medical advances, many are being diagnosed for early CI. It is a good to have and currently only NTUC and Tokio Marine provide coverage for lifetime while the rest are term plans.

As for definition, they cover from stage 0, carcinoma in situ of specified organs. The critical illness definition requires malignancy, uncontrolled growth and spreading with invasion or normal tissues. Stages are not very accurate as each cancer stage defers from other. eg. Leukaemia vs Breast Cancer.

We concentrate on cancer, because it is the most common of the CI list. The insurer do offer early CI coverage for the rest of 30. Eg. Paralysis.. Early form will be lost of use for 1 limb.

The payout for such plan differs from one another too, and contractual differs eg. NTUC inter-related dread disease not covered.

Hope this helps.

hi, could you explain more on the contractual differs between TM and NTUC?

 

[IFAadvisor]

hi, could you explain more on the contractual differs between TM and NTUC?

Hi,

Previously, there is inter related conditions clauses, where if you claim for a condition and considered in a group of condition pre determined, you are not able to claim for any other conditions that falls in the group. Recently, NTUC vivocare been removed and new vivocare 100 came out and addressed this.

The other differences lies with the way claims are paid out. NTUC focus is more on early CI where they will payout more in event of early CI but low on CI.

 

[neanea]

u got serve NS?

Aviva SAF group insurance has rider for early CI (coverage up to $200k)

completed NS can buy?

 

[(o.o)y]

completed NS can buy?

Completed NS as in ORD or ROD? This one NSMan also can buy.

 

[neanea]

Completed NS as in ORD or ROD? This one NSMan also can buy.

Completed ns , still eligible for recall

Can buy?