I just started working last year, female, non-smoker, early-twenties. I currently only have health insurance. Am considering getting life + CI/ECI coverage too. Should I get whole life + CI/ECI rider?

Hi Anon,

In terms of coverage, definitely consider getting a whole life with CI and ECI coverage. Personally I do think this is the best value because it is a holistic coverage as compared to just getting a CI/ ECI coverage only.

In terms of cost, I think it depends on your budget and also the sum assured you are looking at. Cause sum assured will affect the cost. There are now limited pay options meaning you can choose how long you would pay the premiums of the policy for, and the policy will provide you coverage for the whole of life.

Hey there!

Good on you for planning your insurance coverage at that age!

It depends a lot on your budget as of now. Whole life + CI/ECI coverage can be a pinch at the present moment compared to you getting a term plan and a standalone CI plan. Of course, Whole Life+CI/ECI coverage offer limited premium payment mode to allow you to be insured for life. So think of it as a 3-in-1 packaged solution.

Of course, standalone CI plans offer multi-pay options covering relapses etc. So it really depends on your needs and budget then. Term plans in general are also more affordable (relative to Whole Life) and can be converted to life plans at some point (but do check the T&C). This allows you the option of getting coverage now according to your budget and when your finances pick up, you can convert it to Whole Life later on.

Do check with a trusted agent to explore your options. All the best!

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