Critical Illness

Hi anon,

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Just going to be brief here: I feel Aviva's MPCI is a good plan, and $100K SA will be $300K in the event of a late CI; I guess your main worry seems to be the ease of claim which ties in to the definition of the CI, as well as the claims process and the Doctor's statement.

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What I can say for sure is that if you meet the medical definition of the CI as laid out by the policy, there should be no reason that the claim is denied. Hopefully that will allay some of your doubts/fears. This applies to any insurer. A valid claim should not be denied.

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As for the other points you put forth; between Manu RCC and TM MC, TM will pay $300K in the event of late CI, but RCC pays it only for 6 specified late CI. Both have a relapse benefit for cancer though. I wouldn't worry about the stability of TM, insurers operate under very strict guidelines/regulations laid forth by MAS

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AXA Super Criticare is very cheap, in fact, by far the cheapest typically, but my main concern is that in a late CI, it only pays 100% of your SA. Usually in late CI you'll probably need more financial resources. So it doesn't quite cut it for me.

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None of this is meant to be advice as I don't know your specific situation, I am just stating my own opinion. Personally if I were in the market for a Multipay plan, SingLife/Aviva's offering stands out to me, assuming I don't have one already. The key thing to note is that you have one already, and thus adding on another becomes a bit more complex (since there are more variables to consider).

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There's nothing wrong with adding on a bit more of MPCI IV again, but you might just want a lower sum assured and till an earlier age; exact parameters will depend on your needs. This is assuming you end up coming to that decision in the end.

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I'd suggest speaking with an independent advisor if you need tailored advice. Good luck!

Hi, it seems a little bit of an overkill to get that much ECI coverage. Is there a specific reason why you are getting standalone CI policies? The general rule of thumb for cover is 1-2 years of income for ECI, 5 years for CI and 10 years for death/tpd/ti. Of course this is just a guideline and getting someone to do a needs based analysis for you would be more accurate but with this guideline, you should consider if you are getting too much ECI coverage? Considering you already have a multipay CI plan, is it necessary to get another multipay plan since those are expensive?

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Do consider than CI cover is not meant to pay for your treatment (unless for very specific cases) and most of the time, your hospitalisation plan would take care of the treatment cost. The CI payout is meant to replace your loss of income. If that is the case, I would recommend you just take the extra cash that you earn now to invest and generate passive income so that it will replace your income if you do get any CI.

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However, if you are adamant on getting another CI plan, you can refer to the link below. I think they have done a good job comparing.

https://www.singsaver.com.sg/blog/best-critical...