Any thoughts about Singlife's standalone CI insurance?

Hi anon,

In general, all multi pay plans are different in terms of payout structure and benefits, and hence it is important to understand all options and features first before you make a decision based on what is important to you.

This link has a quick write up on some of the multipay plans available:

https://www.businesstimes.com.sg/opinion/naviga...

It is important to note the key features of the Singlife plan (besides price), for example:

• You can only claim up to 3 times. So if it was severe stage CI as the first claim, it's 100% of the sum assured still.

• Your premiums continue to be payable unless you have claimed all 3 times.

For a quick comparison, a similar coverage for you from another insurer would cost $1662. However

• Your first claim, if it is a severe stage CI, will be 300% immediately

• Premiums will be waived on severe stage CI claim for the rest of the policy duration

Thus, you can see that the features are very different, and for some people it may or may not justify the added cost.

I'd recommend you speak to an advisor to understand the key features of the plans so that you can choose the one that suits you. There is no 'better' plan, but rather, the most 'suitable' plan for your needs.