Hi. I have a whole life insurance and hospital plan (with exclusion for stomach). Recently, I found out that I had a fibroadenoma around my chest area. Is there a need to buy more CI plans?

Hi anon,

If the rider for your whole life insurance plan fully accelerates the sum assured, then yes, if you make a claim, the plan ends.

However, you should get more CI cover only if your needs change and you need more coverage. If you do indeed need more coverage due to changes in expenses, life stage events, etc, then you will want to apply for CI cover. You can consider doing a prelim underwriting first, or a parallel submission to multiple insurers to see which insurer is has the most favourable terms.

However, I will caution that chances are low that they will still cover breast cancer. As an example, I had a client with a benign lump on her thyroid, and she was excluded all early till late thyroid cancer coverage after the underwriting, except for the last company which only excluded early thyroid cancer but was willing to cover late stage. She went with the last company. Don't lose hope. There might still be a chance.

It really depends on what kind of CI policy you're holding on to. Moreover, "need" to buy also depends on how much coverage you currently have and your outstanding liabilities (inc. family support).

Unforutnately, it may be rather challenging to take up more with a medical condition. Getting past the underwriter would be rather difficult. The company may or may not accept you, and if they do it may come with exclusions on certain conditions Or additional premium may be added. Which is why we always encourage people to get it while they're younger and healthier!