facebookWas thinking to get an AXA death and TPD term insurance with an additional accelerated CI rider or should I get term with a standalone multi claim CI as accelerated CI rider doesn’t have multi claim? - Seedly

Advertisement

Anonymous

29 Jul 2020

Insurance

Was thinking to get an AXA death and TPD term insurance with an additional accelerated CI rider or should I get term with a standalone multi claim CI as accelerated CI rider doesn’t have multi claim?

Discussion (2)

What are your thoughts?

Pang Zhe Liang

Pang Zhe Liang

29 Jul 2020

Level 14·Senior Financial Services Consultant at AIA Singapore Private Limited

It depends on your needs and planning for the future. Generally, a multi-claim critical illness insurance policy will be more expensive as compared to a single-claim policy or rider.

Thus, we will need to look at your existing portfolio, situation, and goals for the long-term. This will help us to optimise your budget and get the correct level of insurance coverage that you need for the long-term.

I share quality content on estate planning and financial planning here.

Jonathan Soh

Jonathan Soh

29 Jul 2020

Level 6·Wealth Manager at Aviva Financial Advisers

Hi there. Which combination you should take up depends on what your focus is on and what your situation is, if you have many dependants etc. I'm guessing you are looking at both death and CI coverage mainly.

My suggestion is to get term and CI separately, as a standalone CI plan will cover early and intermediate stages with multi-claims for both stages. If you have budget constraints then term and accelerated CI will be the best option.

I cover AXA as well aside from 8 other companies. You can have a casual chat with me here if you like to find out more.

Write your thoughts

Advertisement