GE & AIA plans compare

[Xylvis]

Hi guys, need some help here.. previously I got 2 quotes from 2 agents for my entire insurance portfolio, when I ask the agent about my enquiries, I always get a dont compare apple with apple answer, I do understand that but I'm trying to get as much coverage as possible.

Well here it goes (Anyway I'm excluding Medishield plans as I believe GE provides a better one)

GE
Flexilife Multi 20 ---------------------------------- 80k ------------- 2129.6
ACCP II Rider: Death ---------------------------- 200k ------------- 124
ACCP II Rider: Major Permanent Disablement - 200k ------------- 31
ACCP II Rider: Other Permanent Disablement - 200k ------------- 31
ACCP II Rider: Total Disability ------------------ 500/week -------- 205
ACCP II Rider: Partial Disability ---------------- 150/week -------- 56.1
ACCP II Rider: Medical Expense Reimburse --- $5000 ------------ 56.8
CI Protector multi 20 ----------------------------- 80k ------------ 695.2

Total Yearly Premium ----------------------------------------------$3328.70


AIA
AIA Guaranteed Protect Plus Accumulator ------- 100k ------------- 2018
AIA Guaranteed Protect Plus Booster ------------ 100k* ------------- 350
CPL for Guaranteed Protect Plus Accumulator -- 100k for CI -------- 278
CPL for Guaranteed Protect Plus Booster ------- 100k** for CI ------ 404
Solitaire Personal Accident ---------------------- 250k for Acc death -289

Total Yearly Premium ----------------------------------------------$3339.00

remarks for
* AIA Guaranteed Protect Plus Booster ensures that the coverage of AIA Guaranteed Protect Plus is at least $200,000.00 before the policy anniversary occurring on or immediately following the insured's 75th birthday. It does not denote a flat amount coverage over the coverage term.
** CPL on AIA Guaranteed Protect Plus Booster ensures that the CI coverage of AIA Guaranteed Protect Plus is at least $200,000.00 before the policy anniversary occurring on or immediately following the insured's 75th birthday. It does not denote a flat amount coverage over the coverage term.

Just wanna hear the fellow opinions, thank you for your time

 

[akwl88]

Why u want get so complicated products??

1) u want whole life or term?

2) what do u want to be covered for? Death? Tpd? Ci?

3) how much coverage for each items?

Cheers

 

[Xylvis]

Why u want get so complicated products??
I didn't ask for so complex product, I told them almost same as what u asked me and I was offered these...

1) u want whole life or term?
Life

2) what do u want to be covered for? Death? Tpd? Ci?
Death, TPD, triple CI

3) how much coverage for each items?
Death, TPD somewhere 180 to 200k, CI somewhere 100k

Cheers

I thought of coming here for advice because the more advice I get from the respective agents, the harder it is to understand and compare.. feels alot of smoke around me

 

[akwl88]

I thought of coming here for advice because the more advice I get from the respective agents, the harder it is to understand and compare.. feels alot of smoke around me

Go comparefirst website check out the premiums and terms

 

[Trazora]

Think you should check out AVIVA SAF group term

 

[xiao.xin]

I thought of coming here for advice because the more advice I get from the respective agents, the harder it is to understand and compare.. feels alot of smoke around me

Isn't both quote over insured with what you've in mind already? Since you're looking at 180-200k coverage.

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[xdemolicx]

What enquiries did chiu ask them? And how old are chiu arh?

 

[dendii]

What are the questions you threw at them?

What do you feel they are smoking you about? Is it the benefits? How the product works? Why one company is better?

How old are you this year?

I thought of coming here for advice because the more advice I get from the respective agents, the harder it is to understand and compare.. feels alot of smoke around me

 

[lewissac]

My humble advice:

Get Term-Life to cover death and TPD make it 350-500k. That should do. It's way cheaper. Avoid getting any riders if possible.

Get Hospitalization plan to cover your medical/ hospitalization expenses in case accident happens. Add deductible/co-insurance rider if you need it (it's pricey per year). The rider will cover the additional cost you need to fork out (usually 5-10% of the total cost).

Once these done, then you consider savings/investment plan.

That's how I do it. But different people, different opinion.

 

[Xylvis]

What are the questions you threw at them?

What do you feel they are smoking you about? Is it the benefits? How the product works? Why one company is better?

How old are you this year?

28 this year, non smoker...
like i gave the scenerios, if what happens, and one will tell me the benefits of riders, the other will upsell the stand alone, i think both have their pros and cons, but non of them is tell me the cons, i personally have no preference over any company, but I tot govern got some add-ons for GE on medishield plans?

 

[Xylvis]

Isn't both quote over insured with what you've in mind already? Since you're looking at 180-200k coverage.

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over covered? I tot I only got the just nice amount, like life plan for 200k, den if CI is a seperate 100k etc..

I was told by the AIA agent that..
If i were to buy rider, the maximum claim i can get depends on the basic plan im riding onto, so If i have a basic of 100k, the maximum claim I can get for my CI would 100k, if I wanna combine early CI and late CI, then I can only claim 50k each or depending on how i wanna cater it. So if i take rider on life insurance, and my basic is 100k, I can only get 50k when I got early CI and left with 50k for late CI, etc..?

 

[Xylvis]

My humble advice:

Get Term-Life to cover death and TPD make it 350-500k. That should do. It's way cheaper. Avoid getting any riders if possible.

Get Hospitalization plan to cover your medical/ hospitalization expenses in case accident happens. Add deductible/co-insurance rider if you need it (it's pricey per year). The rider will cover the additional cost you need to fork out (usually 5-10% of the total cost).

Once these done, then you consider savings/investment plan.

That's how I do it. But different people, different opinion.

Ooo.. I always tot life insurance is better... I just check out their price.. 200k + tpd + CI only 300 per year for 30 years... mine now 1 year already 3k.. wtf.. LOL

 

[xiao.xin]

over covered? I tot I only got the just nice amount, like life plan for 200k, den if CI is a seperate 100k etc..

I was told by the AIA agent that..
If i were to buy rider, the maximum claim i can get depends on the basic plan im riding onto, so If i have a basic of 100k, the maximum claim I can get for my CI would 100k, if I wanna combine early CI and late CI, then I can only claim 50k each or depending on how i wanna cater it. So if i take rider on life insurance, and my basic is 100k, I can only get 50k when I got early CI and left with 50k for late CI, etc..?

He or she is not wrong in explaining the terms for you but got explain to you how much you need? Such as going through your need analysis, how many dependent you have and how long they'll depend on you.

Anyway look like you've seen the light. It is always good to use term plan to boost your coverage. With all that said, I'm still a believer of whole life plan for my 6 pieces of wood when I die

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[Xylvis]

Roughly, I'm glad I seek here for advice, I ask for recommendation from the agent and I only got 1 option, thanks a lot

Anyway one more question, what plans besides accident plan would/have you guys bought for your parents of 55yo and 58 yo respectively?

He or she is not wrong in explaining the terms for you but got explain to you how much you need? Such as going through your need analysis, how many dependent you have and how long they'll depend on you.

Anyway look like you've seen the light. It is always good to use term plan to boost your coverage. With all that said, I'm still a believer of whole life plan for my 6 pieces of wood when I die

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[lewissac]

Ooo.. I always tot life insurance is better... I just check out their price.. 200k + tpd + CI only 300 per year for 30 years... mine now 1 year already 3k.. wtf.. LOL

300 p.a. seems reasonable for term-life.

It depends on which you prefer. Life is basically savings(sort of endowment) + insurance (death/TPD).

The cost is far different.

 

[Xylvis]

Out of curiousity,

While i was browsing thru comparefirst, I realised AIA plans are generally the higher end, more expensive plans but most buyers I read in this forum recommended/bought AIA, any particular reason why?

 

[xiao.xin]

There are some other concerns being taken into consideration such as market size, claim rate, service and pass experience.

Some of the smaller coy might have lucrative returns but if you're talking about whole life, some might not be as sustainable and they might leave the market all together. That's when your policy will be passed to third party and theyre not obliged to the promise given by the previous provider.

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[vince123123]

I don't think that they can just just pass your policy to a third party without your consent and at least obliging the third party to the same terms and conditions as originally signed.

There are some other concerns being taken into consideration such as market size, claim rate, service and pass experience.

Some of the smaller coy might have lucrative returns but if you're talking about whole life, some might not be as sustainable and they might leave the market all together. That's when your policy will be passed to third party and theyre not obliged to the promise given by the previous provider.

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[Xylvis]

There are some other concerns being taken into consideration such as market size, claim rate, service and pass experience.

Some of the smaller coy might have lucrative returns but if you're talking about whole life, some might not be as sustainable and they might leave the market all together. That's when your policy will be passed to third party and theyre not obliged to the promise given by the previous provider.

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So basically you're referring AIA as an enterprise level kind of company, more stable wherelse AXA, GE as a smaller company?

Generally AIA plans are double the price of plans provided by GE/AXA.. its actually quite surprising..

 

[Shion]

AIA is quite expensive, I agree. The plans also not that competitive enough against some others, I heard.