facebookI'm making decision for ECI plans. I am trying to weigh between Aviva MMPCI $780/mth till 75 and a whole life paying 25 years around $1.7-1.8k/mth from several insurers. Should I BTIR or just buy a whole life plan? - Seedly

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Anonymous

21 Jul 2020

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Insurance

I'm making decision for ECI plans. I am trying to weigh between Aviva MMPCI $780/mth till 75 and a whole life paying 25 years around $1.7-1.8k/mth from several insurers. Should I BTIR or just buy a whole life plan?

Been reading many articles/answers here but still a dilemma. And I need to really spot a investment that will make BTIR works, versus the cash value for whole life. Is multipay more ex than single pay?

  • 32YO, Non-smoker, no dependant, currently 50K CI covered
  • only liability to foresee is buying resale HDB in 3 years time
  • with no dependant (no kids), TPD/Death benefit not so relevant right?
  • Looking at 150k Coverage: Aviva MMCI $50K (3x Multiplier to make 150k CI coverage), whole life 150k

Discussion (8)

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Hi anon, do you mean $780/year for your aviva multipay coverage of $50k based sum assured with 300% for late stage critical illness? Because $780/month for that coverage seems abit too costly?

BTIR rarely works. Limited whole life BTIR IRR begets you 5% in the long term.

Do your numbers and decide if you want automation or DIY.

Duane Cheng

Duane Cheng

18 Jul 2020

Financial Consultant at Prudential Assurance Company Singapore

Hi there,

It is a very common question when deciding what kind of coverage you would want to procee...

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