Looking to get Term Insurance with TPD, CI and might get ECI. I'm deciding between AXA or Aviva?

Hello, depending on your age and term horizon you will need the coverage for, we noticed that there are cost savings in getting a wholelife plan with ECI rider. Check out this comaprison table https://plannerbee.co/best-life-insurance/

Hi anon,

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Most term plans are generally similar when it comes to death/TPD so it's really a case of the cheapest plan being the most cost effective.

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However, once you add riders like early CI into the picture, things will differ, so depending on your needs, this may not be a clear cut case of the cheapest insurer being the best. Early CI definitions and scope of coverage differ from insurer to insurer so you will need to examine closely before .

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You must know that the payout from your policy is protected by the policy owner's protection scheme. (More information here: https://www.sdic.org.sg/public ) In summary, your payout is guaranteed by MAS (up to certain limits), even in the unlikely event of the failure of an insurer. So if you are not buying more than the limit, you are already protected by MAS.

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The ability of an insurer to pay out claims is not solely dependent on the credit rating of the insurer. You need to consider the Capital Adequacy Ratio as well (which is a measure of how 'prepared' the insurer is to pay potential claims).

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So in summary, if you are adding ECI into the equation, you'll want to consider the insurers based on the following (not in any order)

1. Price
2. Scope of coverage for ECI
3. Credit rating
4. Capital Adequacy Ratio