Questions about early critical illness.

[zetken]

Hi, May i ask if let say i have a life insurance covering 200k for death, TPD, CI and early CI.

I know early critical illness is a rider to life insurance. if i claim early critical illness, will my death, TPD, CI still exist?

Thanks!

 

[dendii]

It depends entirely on what kind of policy it is. Whether accelerated or not. Which plan are you having?

If you are talking about whole life insurance in general, than once you claim the full amount of your sum assured, the plan will be terminated.

However, if your whole life ECI pay outs only 25-50% of your sum assured, than you can claim the remaining still.

 

[zetken]

still considering for now. just heard from prudential is claim early CI then whole policy gone. so i was wondering if it is same as AIA and others.

 

[zetken]

It depends entirely on what kind of policy it is. Whether accelerated or not. Which plan are you having?

If you are talking about whole life insurance in general, than once you claim the full amount of your sum assured, the plan will be terminated.

However, if your whole life ECI pay outs only 25-50% of your sum assured, than you can claim the remaining still.

i see. thanks now i understand.

Btw is there any policy where i can claim for early CI yet the sum assured for death, tpd, ci still remains?

 

[dendii]

Generally no. The same applies for all insurance companies. There are some whole life though that allows you to add ECI riders which does not affected the death, tpd benefits.

But from my knowledge, AIA doesnt have such type of riders.

i see. thanks now i understand.

Btw is there any policy where i can claim for early CI yet the sum assured for death, tpd, ci still remains?

 

[zetken]

Generally no. The same applies for all insurance companies.

But are you referring to whole life or term policy?

I see! okay. i was referring to whole life. Is term policy working differently?

 

[dendii]

Well there are also term plans that allows you to add riders that does not affect the main plan of death and tpd coverage.

The more recent ones are multiple paying CI plans, which allows you to claim a number of times for ECI, and if the condition digress to CI, you can claim somemore.

If you are talking about whole life, I know Aviva’s whole life allows you to add ECI rider that does not affect the sum assured of death and tpd.

I see! okay. i was referring to whole life. Is term policy working differently?

 

[mSnooze]

Yup, the more recently launched plans for whole life allows you to claim early CI portion without affecting your base sum assure, from those multipay CIs.

One way is to get a Whole Life, plus a standalone ECI plan,
or a term plan, plus a standalone ECI plan, which will solve your concern.

 

[zetken]

i see. Thank you guys! you guys are very helpful.