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Anonymous

07 Oct 2020

Insurance

How much Early Critical Illness coverage is necessary or recommended?

Looking to get ECI coverage but not sure if it is really necessary and how much should I get.

Discussion (1)

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Hariz Arthur Maloy

07 Oct 2020

Independent Financial Advisor at Promiseland Independent

Hi Anon, the rule of thumb for CI coverage is 5 X Annual Income.

For ECI cover however, I would recommend the first 250k of anyone's portfolio to be ECI (as usually that's the max an insurer would allow). Anything above, get CI.

So if you're making 80k/yr, that's 250k ECI 150k CI as the rule of thumb.

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