When comparing aviva term plan with, 100k ECI OR 100k Multipay, it seems like it's cheaper to get multipay. But why is it so?

Hi anon,

Are you referring to Aviva's MyProtector Term plan with the early CI rider? If this is the case, this early CI rider is an additional rider. Thus, any payout from this rider would still leave you with $100K to claim in the event of death. Theoretically you could claim $200K (from early CI and death)

Whereas Aviva's Multipay pays very minimal benefits in the event of death. We also need to understand that the chance of recurrent CI is low (although not zero), so it is possible that you may not claim a second time before the plan ends. (You might claim $100K, for example, and then pass on, receving the death benefit of $5K. The total payout is lesser in this case.)

Ultimately it does depend on your current age as well as how long you intend to get the cover till, since the premiums are priced based on mortality.