facebookI have the Axa Shield A integrated shield plan. Should I still get the Aviva Term life insurance and which riders should I add? - Seedly

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Anonymous

17 Jun 2020

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Insurance

I have the Axa Shield A integrated shield plan. Should I still get the Aviva Term life insurance and which riders should I add?

This is group insurance provided by MHA.

Discussion (1)

What are your thoughts?

Elijah Lee

Elijah Lee

17 Jun 2020

Level 18Β·Independent Financial Advisor at Phillip Securities (Jurong East)

Hi anon,

The Aviva MHA group term policy is cost effective when it comes to death/TPD coverage. However, the costs for CI cover step up with each age band. In terms of cost, it might not be so cost efficient.

A better question to ask is: Do I need death/TPD cover? Do I need CI cover?

You need to note that for death/TPD coverage, there are limitations for a group policy. If you need death/TPD cover due to liabilities or dependents, it will probably be better to get a personal policy that's more customized for your coverage needs and duration of cover.

For CI coverage, it will generally be more cost effective with a personal policy, and it is important to have CI cover to protect your income if you are working. However, without further details about your profile, it will be difficult to give a more detailed analysis.

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