Currently single and unsure of future kids, no medical condition, single parent dependent, take-home about $2.2K per month. Should I really take up the combo for Early Critical Illness (ECI)?

Hi there,

Based on your income of 2.2k/monthly your coverage amounts should be:

Death, Disability and Terminal Illness: $264,000 (10 Years of Income)

Critical Illnesses: $132,000 (5 Years of Income)

Early Stage Critical Illnesses : $26.400 to $79.200 (1-3 Years of Income)

Based on the proposal you were given it exceeds some of your current day needs and has shortfalls in certain areas of your ideal coverage. Using a figure of $360k of annual income, is currently 60% more than your current drawn income, which is not a usual practice unless you specifically requested for a $360k coverage.

Terminating policies to take up a new one is not advisable and should be avoided if possible, since you will be the one paying the difference in costs. If you are open, you can contact me for a consult to get a better quotation that better suits your needs at this point.

Hope i was able to answer your queries to your satisfaction!​​​

Might I ask what is your sum assured for all of the above plans? You have left that out.

You can use the calculator here to have a good guideline for your insurance needs:

https://www.aaronleow.com/insurance-requirement...

The premiums look affordable based on your take-home pay.

You have to remember to pay 3 additional months for the term plan when you do a switch. There is a 3 month waiting period for critical illness for all new insurance plans.

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