Insurance Queries

[Greatsolar]

Hi all,

I am looking at getting some insurance for myself (35 male, non smoker). Still deciding between getting term or life insurance.

Anyway I had gotten a term and life quote from Prudential from the below.
==============================
1) Term
PruTerm Vantage 500,000
Crisis Care 500,000
Crisis Waiver III 250,000

Monthly around 160. Coverage till 65.

2) Life
PruLife Multiplier - 15yr Pay 50,000
Early Stage Crisis Cover 50,000

Death, accelerated terminal illness or accelerated disability benefit is 145000.
Crisis Cover III Benefit is 120000.

Monthly is 235. Pay for 15 years.
==============================

Done some reading up in this forum and it seems SAF-aviva group term is a cheaper term plan at 64.00 compared to 76.50 for pruvantage. I do not have a quote for CI coverage from aviva so I can't do a comparison.

As for life insurance, it seems tokio marine legacy lifetime is a better choice. Just the fact that they have not cut their bonus payout is a strong draw to me if i plan to get a life insurance. Could any TM planner provide me with the info provided above?

ILP I am going to avoid. I have gotten prushield and its rider from prudential.

I would like to do a BTIR but I have zero investments knowledge. Would it be better to go the way of getting someone to invest for me or just dump the money into telco stocks and get the dividends?

Thanks.

 

[FP_IFA]

I think the PruTerm is good. Quote for SAF CI Cover is here http://www.aviva.com.sg/pdf/SAF_Living_Care_Brochure.pdf.

Life plan you can check out AXA and TM as well.

 

[Greatsolar]

Thanks FP_IFA

Isn't aviva cheaper than pruterm in this case? Should i get aviva instead?

Any TM agents here to share their plans? Would like to know more about it.

Thanks.

 

[Aerial86]

Thanks FP_IFA

Isn't aviva cheaper than pruterm in this case? Should i get aviva instead?

Any TM agents here to share their plans? Would like to know more about it.

Thanks.

Aviva CI only covers 10 illnesses compared to 30 for others. As for TM, their life plan is arguably the best in the market as of current. TM term still competitive but not the most cost efficient.

 

[NiteX2]

I would suggest a combination of life and term plans for one's planning. Will PM you the quotes in a while

 

[ucandoit]

Hi all,

I am looking at getting some insurance for myself (35 male, non smoker). Still deciding between getting term or life insurance.

Anyway I had gotten a term and life quote from Prudential from the below.
==============================
1) Term
PruTerm Vantage 500,000
Crisis Care 500,000
Crisis Waiver III 250,000

Monthly around 160. Coverage till 65.

2) Life
PruLife Multiplier - 15yr Pay 50,000
Early Stage Crisis Cover 50,000

Death, accelerated terminal illness or accelerated disability benefit is 145000.
Crisis Cover III Benefit is 120000.

Monthly is 235. Pay for 15 years.
==============================

Done some reading up in this forum and it seems SAF-aviva group term is a cheaper term plan at 64.00 compared to 76.50 for pruvantage. I do not have a quote for CI coverage from aviva so I can't do a comparison.

As for life insurance, it seems tokio marine legacy lifetime is a better choice. Just the fact that they have not cut their bonus payout is a strong draw to me if i plan to get a life insurance. Could any TM planner provide me with the info provided above?

ILP I am going to avoid. I have gotten prushield and its rider from prudential.

I would like to do a BTIR but I have zero investments knowledge. Would it be better to go the way of getting someone to invest for me or just dump the money into telco stocks and get the dividends?

Thanks.

Hi, i have a quote from Manulife
==============================
1) Term
ManuTerm Level & Convertible 500,000 coverage $92.40 monthly
TPD 500,000 and Critical Care waiver riders $20.50 monthly

Coverage till 65.

Key point here is that you can convert to a life plan without medical underwriting if u wish to do so before 65.

If u need more details can pm me

 

[lukaloo]

i thing to add... i think your quote seems wrong. If you have critical illness for 500k, you will not be able to add on a crisis waiver for 250k.

critical illness payout pays lump sum upon illness
crisis waiver waive the premium.

 

[ucandoit]

i thing to add... i think your quote seems wrong. If you have critical illness for 500k, you will not be able to add on a crisis waiver for 250k.

critical illness payout pays lump sum upon illness
crisis waiver waive the premium.

hi,

The term does not include the CI payout cos the CI payout requirements is quite stringent.
The $20+ includes TPD and waiver of premiums in the event of CI.

thats why i split the cost up to let people decide on the coverage.
hope that helps

 

[FP_IFA]

Thanks FP_IFA

Isn't aviva cheaper than pruterm in this case? Should i get aviva instead?

Any TM agents here to share their plans? Would like to know more about it.

Thanks.

The premium for Aviva SAF CI Cover (it does cover 30 CIs) is not level so it might not be cheaper in the later part. But the thing to note here is I think there is currently a discount on Pruterm Vantage and the discount is only on first year premium. You thus need to check with your agent if the quote given to you is the first year price or the price you need to pay subsequently from 2nd year onwards.

The other thing you need to check is if the Pru Crisis Care a CI accelerator rider or a totally different CI cover rider.

 

[Aerial86]

The premium for Aviva SAF CI Cover (it does cover 30 CIs) is not level so it might not be cheaper in the later part. But the thing to note here is I think there is currently a discount on Pruterm Vantage and the discount is only on first year premium. You thus need to check with your agent if the quote given to you is the first year price or the price you need to pay subsequently from 2nd year onwards.

The other thing you need to check is if the Pru Crisis Care a CI accelerator rider or a totally different CI cover rider.

My apologies. I mistook the CI Cover for LivingCare Plus which is an Early CI Coverage..

 

[FP_IFA]

My apologies. I mistook the CI Cover for LivingCare Plus which is an Early CI Coverage..

Yeah their Early CI cover range is very limited at the moment.