Getting started with insurance

[Simiishthis]

Congrats on your new born.

After booster coverage is all 200k.
And the child benefit of 150k if nv mistaken is 25k per illness up to 6 times.
I assume the boost until age 75?

A wholelife plan is correct but i nv go with this as there are better. I would replace it. With the same premium term and amount, you can get way higher coverage.
And is the baby pink of health?
Have you done up the hospital plan?

Maybe I can summarise and you let me know if I got it right?

Basically its a 20 years payment premium term

Coverage is :
Death : 100k Base with x2 multiplier = 200k
TPD : 100k Base with x2 multiplier = 200k
ECI : 100k Base with x2 multiplier = 200k
CI : 150k + 200k(?) if unclaim from ECI rider.

From what I understand, the ECI rider do cover for all stages of CI. Are all the rider accelerated?

Based on the premium , there is better premium for the same coverage or better coverage with the same premium!

Yep, baby is okay. Hospital plan is settled as well, with AIA. ECI rider cover for all stages and riders are accelerated.
What other options are there? I already paid for first year of premiums already. not sure if worth it to replace at this stage.

Since you already went with mum2baby, then generally getting the GPP is a more natural choice. Sometimes in life you don’t need to compare down to the cents for the best dealK more importantly is the value that you feel you can get from your FA.

Yeah, thats why I am getting a sense check. My FA is quite good and we have been using him for many years now.

 

[xtwis7]

Yeah, thats why I am getting a sense check. My FA is quite good and we have been using him for many years now.

Since you’ve been with him for many years and you feel that he’s quite good, just trust your instinct and stick with him. Wouldn’t make sense to cancel just because you only paid one year.

 

[winthony]

Yep, baby is okay. Hospital plan is settled as well, with AIA. ECI rider cover for all stages and riders are accelerated.
What other options are there? I already paid for first year of premiums already. not sure if worth it to replace at this stage.




Yeah, thats why I am getting a sense check. My FA is quite good and we have been using him for many years now.

I would say, stick with what you have if you are comfortable. Ultimately its the relationship you have with your FA that would make it work

 

[boredboiboi]

Yep, baby is okay. Hospital plan is settled as well, with AIA. ECI rider cover for all stages and riders are accelerated.
What other options are there? I already paid for first year of premiums already. not sure if worth it to replace at this stage.




Yeah, thats why I am getting a sense check. My FA is quite good and we have been using him for many years now.

If you are comfortable. Best to stick with it. If u wan to see premium or increase coverage. We can also do for u.

 

[sesame246]

hi,
what insurance would be suitable for someone who is single, no dependent and is a cancer survivor/.

 

[winthony]

hi,
what insurance would be suitable for someone who is single, no dependent and is a cancer survivor/.

Hello!
how long have you been in remission?

 

[boredboiboi]

hi,
what insurance would be suitable for someone who is single, no dependent and is a cancer survivor/.

Is not really more if single and no dependent. Is whether u can get any plan for being a cancer survivor.

You can check out this plan meant for cancer survivor.

https://www.axa.com.sg/life-insurance/axacancerrecover

 

[sesame246]

Hello!
how long have you been in remission?

hi,
10 years.

i am helping a family member to find out more.

 

[BBCWatcher]

what insurance would be suitable for someone who is single, no dependent and is a cancer survivor/.

You can get CareShield Life in mid-2021 if you don’t already have it, and if you’re a Singaporean citizen or Permanent Resident. That’s a form of long-term care insurance, and it’s a very reasonable type of insurance to get.

 

[sesame246]

Is not really more if single and no dependent. Is whether u can get any plan for being a cancer survivor.

You can check out this plan meant for cancer survivor.

https://www.axa.com.sg/life-insurance/axacancerrecover

Tks. Will check out. Just hope the premium is not too expensive.

 

[boredboiboi]

Tks. Will check out. Just hope the premium is not too expensive.

Usually this special type premium dont comes cheap but can generate if required.

 

[theorigin]

Age 24/F/non smoker
Hospitalization plan already settled - I'm covered under AIA.

Will be paying 222.2/month for Manulife whole life insurance- 100k SA and X3 multiplier; ECI pay out is 150k+CI pay out is 150k.

For my age + coverage level - is there any better options/pricing?

Thanks in advance!

 

[boredboiboi]

Age 24/F/non smoker
Hospitalization plan already settled - I'm covered under AIA.

Will be paying 222.2/month for Manulife whole life insurance- 100k SA and X3 multiplier; ECI pay out is 150k+CI pay out is 150k.

For my age + coverage level - is there any better options/pricing?

Thanks in advance!

Looks good, but dont mind asking why only take 3x multiplier? You can take 5 times multiplier and premium is cheaper if you are not looking at cash value.

Maybe you can look at disability income insurance.

 

[winthony]

Age 24/F/non smoker
Hospitalization plan already settled - I'm covered under AIA.

Will be paying 222.2/month for Manulife whole life insurance- 100k SA and X3 multiplier; ECI pay out is 150k+CI pay out is 150k.

For my age + coverage level - is there any better options/pricing?

Thanks in advance!

Hello there!

Looks fine in terms of pricing, do note that the riders are accelerated and the multiplier expires at age 70

The only upgrade or options i feel would be swapping out the eci/ci rider and getting a multipay either as a rider or standalone! Only Aviva has the option to add it as a rider

 

[theorigin]

Looks good, but dont mind asking why only take 3x multiplier? You can take 5 times multiplier and premium is cheaper if you are not looking at cash value.

Maybe you can look at disability income insurance.

Reason was purely bcos I gave agent my budget of under 3k per annum and she came out with 3x multiplier quotations...haha

I'm not looking at cash value mainly. Could I ask why x5 would be cheaper? To me it seems like more protection and hence I would think it translates to higher premiums!

 

[theorigin]

Hello there!

Looks fine in terms of pricing, do note that the riders are accelerated and the multiplier expires at age 70

The only upgrade or options i feel would be swapping out the eci/ci rider and getting a multipay either as a rider or standalone! Only Aviva has the option to add it as a rider

Thanks for the comment! Yes I know multiplier expires at 70! Could I check what you mean by "riders are accelerated"?

From my memory I thought multipay was quite ex... am I wrong? Would buying multipay separately potentially make my premiums lower?

 

[boredboiboi]

Reason was purely bcos I gave agent my budget of under 3k per annum and she came out with 3x multiplier quotations...haha

I'm not looking at cash value mainly. Could I ask why x5 would be cheaper? To me it seems like more protection and hence I would think it translates to higher premiums!

Premium is cheaper with higher multiplier. Meaning your 100k*3 vs 60k*5
But of course coverage after 70 is lower. But with the same premium. Maybe ur coverage can jack up to maybe around 70k or 80k and multiplier 5. Which is 350k to 400k

 

[boredboiboi]

Thanks for the comment! Yes I know multiplier expires at 70! Could I check what you mean by "riders are accelerated"?

From my memory I thought multipay was quite ex... am I wrong? Would buying multipay separately potentially make my premiums lower?

Accelerated means the eci if claim will reduce your death/tpd coverage. And yes multipay is more expensive, especially when added as a rider to wholelife plan because premium is compress into the limited numbers of years to pay.

Multipay will not pay ur premium lower but its more of having a 2nd chance of claim when 1 claim of eci is made.

 

[winthony]

Thanks for the comment! Yes I know multiplier expires at 70! Could I check what you mean by "riders are accelerated"?

From my memory I thought multipay was quite ex... am I wrong? Would buying multipay separately potentially make my premiums lower?

No worries! Accelerated meaning to say, the rider benefit draws out from your death benefit!

It will not make it cheaper if you were to add it as a rider to your wholelife plan since you have to fork out lets say 50 years of coverage worth of premium into a limited paying term of 20~25 years.

You also mentioned that you are not looking at cash value, perhaps you might want to consider doing up a term + multipay.

A standalone multipay would cost around $1044/annually for coverage till age 70

If you were to lets say opt for a wholelife with only TPD rider : 75k base with 300% multiplier to make it 300k coverage : $1431.75/annually for 25 years payment premium term

 

[MrPippen]

PruCancer360....seems cheap? Worth getting?