Getting started with insurance

[boredboiboi]

Tbh I trust agent used the AIA algorithm or whatever engine they have. Just that now that I have time to look at my finances, whole life doesnt make any sense unless I am totally clueless about investing. Gonna cancel and buy a term with CI rider instead.

Its just programming. Which everyone can do. =)
But afterall have to depends on each individual budget

 

[foobie]

Hello, I'm looking for a term / whole life insurance with ECI riders that cover pre-existing benign condition. The only one I came across while researching seems to be HSBC Life Protect Advantage 2. However I don't see anyone discuss about this and not sure how good is it. Could someone here provide your view, and help me quote for 100k death/tpd + 50k ECI, 25 years premium term, 5x multiplier until age 70 (i.e. 500k death/tpd + 250k ECI after multiplier)? I'm 28 ANB female, non-smoker.

If I add ECI rider, is it still necessary to add another CI rider? Since ECI already cover all stages of CI I presume.

Other than this one, do you know if there is any other insurance that cover pre-existing benign conditions?

 

[boredboiboi]

Hello, I'm looking for a term / whole life insurance with ECI riders that cover pre-existing benign condition. The only one I came across while researching seems to be HSBC Life Protect Advantage 2. However I don't see anyone discuss about this and not sure how good is it. Could someone here provide your view, and help me quote for 100k death/tpd + 50k ECI, 25 years premium term, 5x multiplier until age 70 (i.e. 500k death/tpd + 250k ECI after multiplier)? I'm 28 ANB female, non-smoker.

If I add ECI rider, is it still necessary to add another CI rider? Since ECI already cover all stages of CI I presume.

Other than this one, do you know if there is any other insurance that cover pre-existing benign conditions?

There is not definite answer until we send in for application. Even if its saying benign they cover but still subject to underwriting. So to get the answer u wan, its best to send in the application. Will quote from u 2 other companies on the wholelife plan. Hsbc left the industry and came back again btw.
And although they say covers without exclusion or loading, as u can see from their example, its a benefit and it dont pay out the full coverage but a small amount of it, Which is 20% of sum assured and cap at 50k even if u buy 250k.

Ci to add on or not depends on your needs. As late stage suppose to need more time to recover compare to again early or intermediate stage ci.

quote as below
SA - $3428.50/year
M - $3307.58/year

 

[ThePunk]

Just checking if my insurance is okay:

At the time of signing the contract:

ANB: 24

700k Term till 99: $140/mth
20k ECI till 80: $14/mth
250k CI till 80: $48/mth
100k accident till 75: $15/mth

Also have MINDEF group term insurance 250k till 65: $14/mth

 

[reddevil0728]

Just checking if my insurance is okay:

At the time of signing the contract:

ANB: 24

700k Term till 99: $140/mth
20k ECI till 80: $14/mth
250k CI till 80: $48/mth
100k accident till 75: $15/mth

Also have MINDEF group term insurance 250k till 65: $14/mth

What do you mean by ok?

 

[ThePunk]

What do you mean by ok?

Like is it overpriced?

 

[boredboiboi]

Just checking if my insurance is okay:

At the time of signing the contract:

ANB: 24

700k Term till 99: $140/mth
20k ECI till 80: $14/mth
250k CI till 80: $48/mth
100k accident till 75: $15/mth

Also have MINDEF group term insurance 250k till 65: $14/mth

Looks like its from pru. In the first place why get till 99? Paying 15/month for accident, its better to buy into eci with the same price as u stated. We can always quote for u. But we dont know your gender

 

[foobie]

There is not definite answer until we send in for application. Even if its saying benign they cover but still subject to underwriting. So to get the answer u wan, its best to send in the application. Will quote from u 2 other companies on the wholelife plan. Hsbc left the industry and came back again btw.
And although they say covers without exclusion or loading, as u can see from their example, its a benefit and it dont pay out the full coverage but a small amount of it, Which is 20% of sum assured and cap at 50k even if u buy 250k.

Ci to add on or not depends on your needs. As late stage suppose to need more time to recover compare to again early or intermediate stage ci.

quote as below
SA - $3428.50/year
M - $3307.58/year

Thanks for this! Do you also cover HSBC / provide a quote for HSBC?

For SA, I notice that they have payment term until age 65, could you let me know how much will the annum premium be, if pay until 65?

 

[boredboiboi]

Thanks for this! Do you also cover HSBC / provide a quote for HSBC?

For SA, I notice that they have payment term until age 65, could you let me know how much will the annum premium be, if pay until 65?

Let me check if i can quote hsbc
Sa pay till 65 - $2792.60/year (37 years pay)
Difference not much. A 25 years pay will be a better deal for u

 

[foobie]

Let me check if i can quote hsbc
Sa pay till 65 - $2792.60/year (37 years pay)
Difference not much. A 25 years pay will be a better deal for u

Thanks a lot boredboiboi, appreciate if you could help me to quote for the below, if HSBC is available.
- HSBC WL 25 years payment term, original SA of 100k death/tpd + 50k ECI, 5x multiplier till 70
- HSBC WL 25 years payment term, original SA of 100k death/tpd + 50k ECI, 4x multiplier till 70
- HSBC WL 25 years payment term, original SA of 200k death/tpd + 100k ECI, 2x multiplier till 70
- SA WL 25 years payment term, original SA of 100k death/tpd + 50k ECI, 4x multiplier till 70
- SA WL 25 years payment term, original SA of 200k death/tpd + 100k ECI, 2x multiplier till 70

 

[boredboiboi]

Thanks a lot boredboiboi, appreciate if you could help me to quote for the below, if HSBC is available.
- HSBC WL 25 years payment term, original SA of 100k death/tpd + 50k ECI, 5x multiplier till 70
- HSBC WL 25 years payment term, original SA of 100k death/tpd + 50k ECI, 4x multiplier till 70
- HSBC WL 25 years payment term, original SA of 200k death/tpd + 100k ECI, 2x multiplier till 70
- SA WL 25 years payment term, original SA of 100k death/tpd + 50k ECI, 4x multiplier till 70
- SA WL 25 years payment term, original SA of 200k death/tpd + 100k ECI, 2x multiplier till 70

You are welcome. Will do if i can. But what is the difference between option 2 and 4 and option 3 and 5?

 

[foobie]

You are welcome. Will do if i can. But what is the difference between option 2 and 4 and option 3 and 5?

Would like to compare HSBC (1-3) with SA (4&5), thanks!

 

[boredboiboi]

Would like to compare HSBC (1-3) with SA (4&5), thanks!

anything else other than hsbc so i can quote all at 1 go?
If compare premium then i pretty sure SA would be cheaper than hsbc


- SA WL 25 years payment term, original SA of 100k death/tpd + 50k ECI, 4x multiplier till 70 - $3052/year
- SA WL 25 years payment term, original SA of 200k death/tpd + 100k ECI, 2x multiplier till 70 - $4404/year

 

[foobie]

Thanks boredboiboi, that's all for non-hsbc!

 

[boredboiboi]

Thanks boredboiboi, that's all for non-hsbc!

Ok

 

[boredboiboi]

Thanks boredboiboi, that's all for non-hsbc!

- HSBC WL 25 years payment term, original SA of 100k death/tpd + 50k ECI, 5x multiplier till 70 - $3835.63/year
- HSBC WL 25 years payment term, original SA of 100k death/tpd + 50k ECI, 4x multiplier till 70 - $3290.24/year
- HSBC WL 25 years payment term, original SA of 200k death/tpd + 100k ECI, 2x multiplier till 70 - $4509.27/year

 

[foobie]

Thanks for coming back!

 

[boredboiboi]

Thanks for coming back!

U r welcome.

 

[Mr. Wood]

like to ask if any1 can help me to understand dis particular "M" policy?

basically as i understand, LIA definition of "major cancer" is alrdy for stage 3/4.
is dis policy wording trying to say it is advanced stage of major cancer? or simply put, only stage 4 den can claim?

in comparison, another policy wording is easier to understand:

(of coz is diff policies diff features, but why make it so hard for ppl to understand?)

 

[boredboiboi]

like to ask if any1 can help me to understand dis particular "M" policy?

basically as i understand, LIA definition of "major cancer" is alrdy for stage 3/4.
is dis policy wording trying to say it is advanced stage of major cancer? or simply put, only stage 4 den can claim?

in comparison, another policy wording is easier to understand:

(of coz is diff policies diff features, but why make it so hard for ppl to understand?)

Severe stage as define by the definition. Its is not define by the cancer stages. No insurer will tell u which stage cancer belongs to which severity. Claims will depends on the doctor memo or the medical report to determine accordingly.