Hello! Would like to get some opinions on WL plans. Thinking of changing from current AIA GP ll to Etiqa Essential Life, mainly due to premiums concern. Any reviews on this?

Hi anon,

I'm reading your previous comments, and I note that you have bought AIA GPP II prior to the 2019 CI defintions change.

Depending on your configuration of the plan, note that AIA GPP II with early CI rider will cover more conditions (43) than Etiqa Essential Life cover (35). Etiqa is far cheaper across the board, no doubt, but is really about basic coverage (the 35 CI, and if you have their early CI rider, then it will have early/intermediate coverage for the 35 CI as well). It's really no-frills, but that isn't necessarily a bad thing.

If you switch, you will definitely be on the 2019 CI definitions, as well as be subjected to a smaller scope of coverage, in exchange for lower premiums. This also assumes your health, etc is ok. Ask yourself if you would be ok with that. And if you are ok with lower premiums, then have you looked at other companies that may have lower premiums, but with similar or better scope of coverage than AIA GPP?

Hi,

There are always new plans in the market every few years, and everytime if you were to switch when there is a new product, you might suffer a loss in the long run.

Buying insurance is a long term commitment and you should really think about the reason why you bought the WL plan in the first place.

But ofc, if after weighing the pros and cons, you feel that it is better for you to change, then you can go ahead. Just remember to think long term for yourself.

What is the difference in terms of the price? Is it huge? If it is, then check what is the differences between the 2 products, the CI conditions covered, the returns from the companies (as WL plans are participating products) etc.​​​