What life + CI policies should I be considering? What are the pros and cons of each?

Hi Tan,

I think every insurer has products that will meet your needs, and for most life plans, they are all participating policies, meaning there is an investment component in the poilcy, so I don't think that component can be removed.

Based on the recommended guideline of 5x your annual income for CI coverage, I think that would be a more crucial factor rather than just budget, though budgeting is also definitelty important.

Do note that premiums are very affected by your profile as well, meaning age, occupation, gender, etc. so it might be better to have more details or have a meet up so that there can be better planning done for you

Hi,

As you have mentioned you are specifically looking for a life plan with CI cover, we're probably looking at a limited payment life plan.

Most, if not all, life plans will have an investment component which forms the cash value of the policy. Hence you will have to accept that this cash value component will exist if you want a Life Plan with CI cover.

However, instead of focusing on your budget and duration you wish to pay, first consider how much CI cover you need. Then, based on that, you can see if a limited payment life plan may suit your budget. If not, you might want to take up a term plan first.

Without more details such as your profile, smoking status, date of birth, etc, I won't be able to calculate the amount of CI cover that might suit you. As an independent financial advisor, I am able to offer a comparison and products from multiple insurers, but can't do so with insufficient detail.​​​