Understand those whole life, term life and personal accident plans are covered around 65 to 70 yr old. When time goes by premium increases?

If your whole life is limited pay for like 20 years, you can just keep it forever until you pass away.

1) Depends on the insurance plan you have, some will terminate and some will have guaranteed renewability.

2) Usually cash value plans are whole life, ILP and endowments. The others like personal accident will not have cash value.

3) That is why retirement planning is important to ensure that by the time you are 65, you should only require integrated shield plans as usually other insurance plan is to protect you and your dependants from loss of income when you cant work or pass away. No one including you should be relying on your income when you reach 65 unless you have special situations.

Every question that you ask, really depends on a lot of factors. I will need to list them down for easier reference.

1) What is your age? The older you are, the higher the premium cost will be. For Life Plans, the sweet spot for a cheap insurance will be about age 30 or below. For Critial illness, its should be below age 35.

Whole life Plans (to be tagged with Critical Illness) with limited pay are better in general for longevity (as long as you have no claim). Term CI is 100% better if you have a claim.

2) Mindef Aviva has Group Term Life, Group Accident, and Group CI / ECI. They are term plans, so naturally they have no cash value. Previouly, I remember they give rebate when the claim experience is a lot lower.

3) For self protection after 65, it will all fall onto your hospitalisation plan, and also your investment (to self-insure). Since you have no income, you should not need to have a CI (except for alternative medicine/treatment), since CI is for income replacement. Though, some people bought whole life to insure the CI event. There are some intangibles like cab fare and better food that is not factored into the hospitalisation plans.