Hey there!
It really depends on why you're getting a multipay CI rider. It will be okay to top up that coverage in terms of amount. Of course, the general guideline is 5x of your annual income but this may be different if you have dependents eg. children since you will need higher coverage with differing life stages and all this has to be planned in terms of your Budget.
Ultimately, it's good to top up some CI coverage with a multipay CI plan using your CI rider as a foundation since it's likely your CI rider is an accelerating rider, ie. It will decrease your death benefit. This means if it's a 100% acceleration, you will have zero death benefit after your CI payout and your plan will close.
There are many options for you in terms of multipay CI. Some even cover pre-early conditions eg. AIA Power Critical Cover.
Do consult a licensed financial advisor to explore your options. All the best!
Financial planning is an integral part of life. You can reach me here to find out more.
Hey there!
It really depends on why you're getting a multipay CI rider. It will be okay to top up that coverage in terms of amount. Of course, the general guideline is 5x of your annual income but this may be different if you have dependents eg. children since you will need higher coverage with differing life stages and all this has to be planned in terms of your Budget.
Ultimately, it's good to top up some CI coverage with a multipay CI plan using your CI rider as a foundation since it's likely your CI rider is an accelerating rider, ie. It will decrease your death benefit. This means if it's a 100% acceleration, you will have zero death benefit after your CI payout and your plan will close.
There are many options for you in terms of multipay CI. Some even cover pre-early conditions eg. AIA Power Critical Cover.
Do consult a licensed financial advisor to explore your options. All the best!
Financial planning is an integral part of life. You can reach me here to find out more.