Which Will You Buy?

[GorGor2015sg]

Which Will You buy?

1. 150K Term policy for 20 years
Using Manulife as eg. $42.98 per month

2. 100K Term policy + 100K PA for 20 years
Using Prudential as eg. $29.84 per month + Chartis Enhanced Sapphire PA $11.25 per month = $41.09 per month

Both premium are similar.

Please give reasons on why you would choose the option that you have chosen.

I would like to hear.

Keep discussions civilized.

Thank you.

 

[frenchbriefs]

why not both?
how do these benefit me in anyway?is it some kind of savings policy?

$45 a month seems reasonable considering i already donate $45 to charity every month and its like a form of forced savings.

 

[fitlies]

I'm simplistically assuming the coverage is purely for Death and TPD?

If so, option 1 gives you $3,490 coverage for every dollar spent on premiums while option 2 covers you for $3,351 for each dollar paid. Frugally, I'd go for option 2.

Plus at the same monthly premiums paid, I'd have PA coverage as well.

But really, that's just from a too simplistic perspective. There are other factors that you have to weigh in to make a more considerable decision.

 

[henrylbh]

Depends on your age and whether the premium is level and the risk that you have in mind. If it covers you till above 80, go for it. If I am 30 yo, most likely it's money down the drain.