I plan to get Great Complex Flexi Living protect by GE for a 5yo child. If my base amt is 30k and I add a rider(covers eci&ci) of 170k till she is 100yo. Does it make any sense?

Hi anon,

Getting CI/ECI coverage for a child is a good move largely because it locks insurability in right at the start.

Generally for parents looking to get some coverage for their children, a limited payment plan would work best as you can still afford the premiums during your working years. So 20 years would probably be a good choice for premium term, or even 15 or 10 (some of my clients who are parents have opted for such)

I do not know what premiums you are being quoted, but you can consider looking at other insurers for their versions of limited payment whole life plans. There are many insurers out there that offer such products and generally I find that Aviva/China Taiping/Manulife tend to be more competitive in terms of scope of coverage vs cost.

I'd typically take a $100K base for the child and add a x2 multiplier to boost the coverage to $200K till 70 at least, the cash value of the plan will ensure that the drop off in coverage after 70 will not be too steep. The ratio between early CI and CI is up to you, and I typically will do a 50/50 split if it's a budget concern.