I am a 27 years old male here looking for a critical illness insurance before its definition changes after 26th Aug 2020. Can you give some good plans to consider?

Most insurers will have similar if not, the same CI products. Stick to a consultant you enjoy working with. There are some insurers who have changed the definitons ahead of schedule. Clarify before proceeding.

Hi Wei Ming,

If the way you define a good CI plan as a plan that pays out as long as CI happens, then there isn't really a "good" or "bad" plan. I see all plans as good plans, just whether they are suitable for you or not.

What you should ask yourself are questions such as:

Would you prefer to claim multiple times on multiple occasions?

Do you want something permanent or temporary?

Would you like a higher coverage such as a multiplier kind of policy (which are more popular nowadays) to cover you until your last working age?

Would you prefer to pay your premiums in a shorter amount of time or would you be comfortable paying for it even after you have retired?

How much budget and CI protection would you need based on your current situation? (Liabilities to take care of, annual income etc)

Find an advisor that you are comfortable with who you can connect with they are likely the ones to help you process your claims or assist you when you need them. Premium wise, some companies are cheaper, some are slighlty more expensive but generally they don't vary as much. The CI definitions are regulated by LIA so they don't really differ greatly. ​​​