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Anonymous
If the sum has been paid for early stage CI, the payout would have reduced by the sum paid. If I base this on the 3-5 years coverage sum, the 3x would be sufficient.
If 100k, then should I also add a CI rider to a term plan to meet the coverage sum as I would still have a gap?
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Duane Cheng
27 Jul 2020
Financial Consultant at Prudential Assurance Company Singapore
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Hi there,
Depending on your plan design, it can be either of. By original definition, your CI would be 300% of the SA, while ECI payout would be 100% of the SA. If there is a ECI claim then a CI claim, it would be 100 + 200 = 300%.
By default, multipay CI plans are term plans meant to supplement existing policies. For example, WLP + Term you will get 2 payouts, while you still ensure coverage for yourself going forward. You can fill the gap using a CI rider, to cover your income in the event of CI as well. Its hard to say, as we do not know what is your existing coverage.
I do hope i was able to address your queries!