I have a whole life plan from young (about 23years now) but i have to pay $600+ yearly and the coverage is $25k for death and $15k for CI. I need to pay this for life. Is this plan still competitive?

In terms of claims, GE and Aviva both first pay a lump sum of 3 months benefit upon the diagnosis of 1 ADL and the premiums are subsequently waived off through the term.

As for claiming under 2 ADLs, the lump sum will pay as well On top of the monthly benefit after the usual 90 day waiting period.

It is always a good idea to upgrade as most people aren't usually prepared for long term disability. Sure, we may have critical illness pay outs here and there but eventually it may run out as well.

Hi Anon,

It is difficult to give accurate advice because of the lack of details, but there are some critical questions you can ask yourself to make a decision:

• What is the increase in cash value every year? Is it more or less than the annual premium?

• How much death and CI coverage do I need? Including this Whole Life plan, what is my shortfall/surplus?

• What is the purpose of this Whole Life plan? Why am I looking for competitive Whole Life plans?

Hope that these questions will point you in a clearer direction to make a choice :)