NTUC VivoCare

[mk2rick]

Hello,

I'm planning to get NTUC VivoCare Whole Life plan soon. To me i think it provides me with the best coverage per dollar, huge draw being that they will pay out 3X the sum assured if I die before the age of 65.

Anyone got any strong criticisms of this plan? Or know of any serious draw backs from this plan?

Cheers!

 

[mk2rick]

Yeah, I am aware that unlike other whole life plans, for vivo care, you cannot exactly cash out the bonus $$$ am i right to say so?

 

[PruCorgi]

I think he means can cash out, just that there's less compared to other whole life plans. It takes longer to break even.

 

[mk2rick]

Thanks for the replies.

Any other firms out there got a similar product? I know manulife has some 2.4x payout plan, but that is payment for LIFE. And they dont have early CI coverage as well.

VivoCare the most cost efficient of them all?

 

[MaoZeDuo]

Thanks for the replies.

Any other firms out there got a similar product? I know manulife has some 2.4x payout plan, but that is payment for LIFE. And they dont have early CI coverage as well.

VivoCare the most cost efficient of them all?

Yup manulife oso hab. But 2.4x only applies to entry age 30 and below. Different multipliers for age above 30. Multipliers last till age 65. Same thing applies, 2.4x will not effect if there is a reduced paid up. And yes payment for life.

There is another life plan where u can choose to pay for a limited period and cover for life. Got 2x multiplier, accidental death benefit, and guaranteed insurability option for another participating plan at certain life stage events. But definitely cost more than the former.

What do u mean by early CI coverage leh?

Cost efficient ornot must compare BI to BI liao wor.

 

[mk2rick]

Early CI means if you tio early stage critical illness, can withdraw 50% of sum assured first.

But that will reduce your initial sum assured to the remaining 50%. So if you sway sway pass away b4 age 65, its only 50% X 3 rather than 100% X 3 payout.

I am more or less certain of this vivo care already. Combined with my current Aviva SAF grp term, it should be adequate to cover me.

 

[MaoZeDuo]

Early CI means if you tio early stage critical illness, can withdraw 50% of sum assured first.

But that will reduce your initial sum assured to the remaining 50%. So if you sway sway pass away b4 age 65, its only 50% X 3 rather than 100% X 3 payout.

I am more or less certain of this vivo care already. Combined with my current Aviva SAF grp term, it should be adequate to cover me.

I see. In the form of rider u meant?

Saf grp term pretty popular ah...

 

[kuro]

Hello,

I'm planning to get NTUC VivoCare Whole Life plan soon. To me i think it provides me with the best coverage per dollar, huge draw being that they will pay out 3X the sum assured if I die before the age of 65.

Anyone got any strong criticisms of this plan? Or know of any serious draw backs from this plan?

Cheers!

Have you looked at AXA Life Exentials? 3X sum assured for death, 6X Accident death and accelerated CI too.

 

[mk2rick]

Any insurance gurus know any drawbacks to this AXA Exentials? Seems like a pretty good deal too..

 

[FP_IFA]

Can also look at TM Legacy Plus + Early Care Rider if early CI cover is something you want to have.

 

[stjoe1]

Can enlighten what do you mean by item no. 2?

Thanks

Talk about 2 not so nice things about Vivocare.

1. Lower cash value than vivolife as the focus is more about protection than accumulate cash. In general, take about 25 years to 'break even'.

2. Anytime you do a paid up on the policy, you lose the 3x death sum assured.

Other than that, this remains my top selling plan for protection. Hope this helps.

 

[adidas168]

Whenever you do a paid up on a policy, the sum assured will be pro-rated depending on when the paid up is done.

For example if you buy a 20 years limited premium plan of sum assured $100k, the death benefit is $300k if the claim is made before age 65.

Supposing you decided to a paid up on year 10, the sum assured will be pro-rated to $x. The $300k death cover will also be gone.

Hope this answer.

Hi,

Does paid up mean you cash out the bonus?

 

[adidas168]

No. That's called bonus encashment. Nothing to do with paid-up.

So what does paid up means?

 

[tanjhj]

So far i checked. NTUC insurance usually have the best value for money in most of their policy. the two companies that used to pay better are asialife and hancock are all taken over and now their cash value and breakeven time are as pathethic as Aia and Pru and Manulife. GE has also degraded over the years. some of them cant even BREAKEVEN in ones life time..

i was comparing the among the insurance companies and made this conclusion. Also lots of FA or independents dun like to sell NTUC insurance which i later realise is because NTUC paid the least commission to them, usually 50% or less. which explains why their premium are lower and cash value are higher (faster break even).

 

[Aerial86]

So far i checked. NTUC insurance usually have the best value for money in most of their policy. the two companies that used to pay better are asialife and hancock are all taken over and now their cash value and breakeven time are as pathethic as Aia and Pru and Manulife. GE has also degraded over the years. some of them cant even BREAKEVEN in ones life time..

i was comparing the among the insurance companies and made this conclusion. Also lots of FA or independents dun like to sell NTUC insurance which i later realise is because NTUC paid the least commission to them, usually 50% or less. which explains why their premium are lower and cash value are higher (faster break even).

Hmm I wonder where did you get all these "facts". I'm in this industry and I don't even know of whatever you've said. In fact, none of what you've said is true. Especially the one about asia life, which is now Tokio Marine, who have been holding the best cash value track record over the last 65yrs.

Maybe you could share with all of us here the source where you get these "facts" so that all of us here can benefit from it if it is really justifiable.

 

[RockyHero]

Hmm I wonder where did you get all these "facts". I'm in this industry and I don't even know of whatever you've said. In fact, none of what you've said is true. Especially the one about asia life, which is now Tokio Marine, who have been holding the best cash value track record over the last 65yrs.

Maybe you could share with all of us here the source where you get these "facts" so that all of us here can benefit from it if it is really justifiable.

Hi i second that, TM Asia is the only insurer to not reduce their bonuses for the past 50 years.