52. Have only hospital plan and careshield. Am considering life plan (CI), 12 yrs premium. Should I enter at this age? And what other insurances should I consider as well?

Hi anon,

​

It sounds like you are looking for whole of life CI coverage here, in which case a limited payment life plan may be the best option. Term plans that cover CI (yes, there are such plans) require you to keep paying as long as you haven't claimed, meaning that you would be paying well into your retirement if you take a term CI plan till 85 or 99. This may not be something that you want.

​

I don't know what amount of coverage you are looking at however, and I don't know what your premiums are in relation to your salary. But I will say that covering yourself while healthy is probably the best decision you can make, regardless of age. Don't wait until something happens.

​

You'd want to consider a term plan as well to cover death/TPD if you have liabilities or dependents, if not, also remember to upgrade your careshield life coverage with a supplement plan. This is what I gather from your question, as there isn't a lot of detail for me to work with.

​

Please have a chat with an independent financial advisor if you require more tailored advice, as well as to see the options available for you across multiple insurers.

Hi, I would suggest having basic protection plans for yourself such as an accident and term plan. A life plan can be quite costly for your age group. Covering as many CI conditions would be ideal, as this allows you to be well protected.

​

If you would like to discuss it in detail, I would love to connect with you!
https://www.instagram.com/thefinancialrab/
linktr.ee/thefinancialrab