Questions to ask ourselves on Early Critical Illness Coverage

Hi anon,

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Sorry to be the bearer of bad news, but I note that you mentioned that you have cysts, it is very likely that the area that has cysts will have exclusions imposed (e.g. if it is a breast cyst, you will have exclusions for breast cancer coverage). I personally have yet to see a cyst that did not lead to an exclusion of some sort.

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The only plan I know of that has coverage even if the person has cysts (and even then, only for 3 speciifc areas) is a WL plan, but that is probably not what you are looking for.

Multipay CI generally covers you for multiple CI conditions and sometimes even a relapse CI condition. This provides a more comprehensive coverage as you can claim it multiple times. However, it is sure to be more expensive. You will need to determine for yourself if it is necessary based on your budget.

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Whether to get a standalone policy or rider attach to a term, again, it depends on your budget and how much are you currently covered. If you are not covered much for death/tpd/ti, you might want to get the term life insurance.

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Whether it is multipay or not, you should still get at least 1 ECI policy (generally it is attached to the term).

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You must understand that CI insurance covers your loss of income. Your hospitalization plan covers your treatment. Therefore, if you can invest and generate a sizable amount of money to be self-sustaining, My opinion is that multipay is not absolutely necessary.

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Ultimately, it will be better for you to work with a trusted financial planner who can advise you on this. Only by understanding your overall financial situation, it is difficult to advise.