Advertisement
Anonymous
As insurance I do have hospitalisation insurance with NTUC class B ward. I am considering getting a critical illness plan for myself but not sure which are the best plan. Term or whole life plan? Which indivdial term and/or whole life plan is the best? Is there a stand alone plan. Would appreciate if you have other advice.
3
Discussion (3)
Learn how to style your text
Brandan Chen
29 Jan 2019
Financial Planner at Manulife Singapore
Reply
Save
Josh Tan Jian Liang
29 Jan 2019
Co-founder https://theastuteparent.com at Promiseland Independent Pte Ltd
The most important thing that impacts you the most is to get a coverage now.
Data suggest that by insuring at a younger age, you get to save on total premiums.
New wholelife plans these days provide very good coverage to premium. You can check on AVIVA Mywholelife Plan II and Manulife LifeReady.
When you get a wholelife plan, it is because you find logic with the idea of "pre-paying" for your insurance. Some plans allow you to complete payment within 10years. Having less premiums to pay when you are pass 50years old is a form of planning.
There are standalone critical illness plans.
AVIVA Mymultipay CI
AIA Triple Critical Cover
TM Multicare
Manulife ReadyCompleteCare
Prutriple Protect
Hope this info helps. Again the most important thing that impacts you the most is to get a coverage now.
Reply
Save
You should consider upgrading your basic plan to the preferred plan along with the assist rider. Hav...
Read 1 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Posts
Advertisement
Would encourage you to upgrade your Hospitalisation to minimally Private or Class A ward if you are able to afford it!
As for CI, there are 3 main options available:
1) Whole Life Plan
2) Term Plan
3) Multi-Pay CI plan
It is also important to look at ECI coverage if you have the budget.
In terms of how much to cover, perhaps you can consider covering about 1 - 2 times of your annual Income in ECI and overall 5 times of your annual income in CI.
It is best that you sit through with a financial advisor that is able to explain the available options so as to cater to your needs and budget.
Alternatively, you may also drop me a PM on facebook https://www.facebook.com/brandan.chen or arrange for a chat with me via the following website: https://brandanchen.manulife.sg/