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Anonymous

26 Sep 2020

∙

This is about critical illness coverage?

Option A: whole life plan with ECI rider

Option B: standalone ECI plan

Which one is better for someone who just started working?

Possible to recommend good plan for either option A or B?

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Hariz Arthur Maloy

26 Sep 2020

Independent Financial Advisor at Promiseland Independent

Hi Anon, I'd consider a little bit of both.

Assume you're making 50k/yr. The recommended amount of cover would be $250k (5 X Annual Income).

I would probably do a $200k ($100k X 2) Limited Pay WL + $50k Standalone ECI/Multi Claim Term plan.

This way you get strong lifetime cover plus possible multiple payouts should you be unfortunate to have multiple claims.

My choices for the top WL policies are Aviva, China Taiping, and Manulife and for Standalone ECI/Multi Claim policies would also be Aviva, Manulife, and possibly Singlife.

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