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Mei

08 Jan 2023

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I have a whole life insurance with ECI rider only. Is it still advisable to take up another whole life to cover CI or should I take term?

30s single no dependent but intending to buy a hdb flat in the near future

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Benjamin Low

06 Feb 2023

Associate Director of Sales at Manulife Financial Advisers

Whether a whole life or term life insurance policy is better for you will depend on your individual needs and circumstances.

Whole life insurance provides lifelong coverage and can build cash value over time, making it a good option if you're looking for both death and ECI coverage, and a long-term savings plan. However, it can also be more expensive than a term life insurance policy.

Term life insurance provides coverage for a set period of time and is generally less expensive than whole life insurance. It can be a good option if you're looking for affordable coverage to protect.

Really depends on the sum assured and what you need.

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Tan Siak Lim

18 Jan 2023

CFP. Director, Financial Advisory Group at Financial Alliance

What is the SA of your current whole life?

Do you need more life long CI coverage?

What is your budget?

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Tony

Edited 09 Jan 2023

Computer Engineering at Nanyang Technological university

ECI covers CI as well. If you mean you want to increase coverage, can consider term as it is cheaper...

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