facebookI’ve just gotten a whole life insurance policy from GE. Payable for 20 years that covers me till death. With CI&ECI at $180k coverage. ? - Seedly

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Anonymous

18 Apr 2019

Insurance

I’ve just gotten a whole life insurance policy from GE. Payable for 20 years that covers me till death. With CI&ECI at $180k coverage. ?

Will getting Aviva NSman plan for additional death,CI&ECI be complimentary to my plan? My current GE plan is about 6% of my annual income. I have PA and Hosp covered as well.

Discussion (1)

What are your thoughts?

Hariz Arthur Maloy

Hariz Arthur Maloy

25 Feb 2019

Level 15·Independent Financial Advisor at Promiseland Independent

To answer your question, you need to look at the total coverage you require.

The rule of thumb is around 10 X your Annual Income in the event of Death and 5 X your Annual Income in the event of Illness.

Top up accordingly. However, I suggest to skip on the CI coverage provided by the Mindef Aviva Group Term plan as premiums change as you age and their ECI list of conditions covered is not comprehensive.

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