It depends on your needs and how we plan for your future at a reasonable rate of premium. In order to do so, we will break it down into two parts:
Firstly, one of the most important things to do is to have a complete understanding of your existing insurance portfolio. Through this process, it allows us to understand the coverage that we have, any financial gap, as well as to find out whether we are overpaying for our insurance policies. I have highlighted the rest of the reasons here: https://www.blog.pzl.sg/why-every-client-needs-...
Secondly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-pers...
As a general guideline, you will need 5x annual income for your critical illness coverage. Besides, healthcare and life insurance should hover between 10% 20% of your annual income.
After we are done with the first two steps, it allows us to understand your financial gaps and the reasonable amount of money to be used for your insurance coverage. While AIA Power Critical Cover may seem expensive, we have to spend some time to understand whether it is value for money.
For instance, it is the only plan with coverage for pre-early conditions, e.g. Thyroid Dysfunction (Hyperthyroidism, Hypothyroidism), Type 2 Diabetes Mellitus, Benign Tumour (suspected malignancy) requiring surgical excision to specified organs.
Furthermore, the Power Reset feature fully restores the coverage after 12 months from the last claim. As a result, the insured can make multiple claims of up to 500% of the insured amount.
Moreover, the Power Relapse feature allows the insured to claim twice for the same critical illness after 24 months from the last claim.
Most importantly, an imperative point that is often overlooked is the definition for claim. All things considered, most consumers will prefer to go with a plan with a broader definition for payout. This is especially important as not every insurer adopt the same definition for the medical condition. (Yes, every insurer will issue payout when definition are met. But whether it is practical to fulfil the definition or not, that is a separate topic.)
Finally, there is exclusive partnership with Medix and WhiteCoat to help you when the need for professional second advice arise. Also, you may integrate the plan with AIA Vitality for discount of up to 15% every year over time.
All in all, I have highlighted some of the key points that you should understand about yourself and to look out for when comparing AIA Power Critical Cover against similar plans in the market. In any case, it is all about planning for your future and you do not need to overspend on a single plan to fulfil your insurance needs.
Feel free to drop me a text if you are keen to find out how I do comprehensive financial planning for my clients without overspending on insurance premium.
Here is everything about me and what I do best.
It depends on your needs and how we plan for your future at a reasonable rate of premium. In order to do so, we will break it down into two parts:
Firstly, one of the most important things to do is to have a complete understanding of your existing insurance portfolio. Through this process, it allows us to understand the coverage that we have, any financial gap, as well as to find out whether we are overpaying for our insurance policies. I have highlighted the rest of the reasons here: https://www.blog.pzl.sg/why-every-client-needs-...
Secondly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-pers...
As a general guideline, you will need 5x annual income for your critical illness coverage. Besides, healthcare and life insurance should hover between 10% 20% of your annual income.
After we are done with the first two steps, it allows us to understand your financial gaps and the reasonable amount of money to be used for your insurance coverage. While AIA Power Critical Cover may seem expensive, we have to spend some time to understand whether it is value for money.
For instance, it is the only plan with coverage for pre-early conditions, e.g. Thyroid Dysfunction (Hyperthyroidism, Hypothyroidism), Type 2 Diabetes Mellitus, Benign Tumour (suspected malignancy) requiring surgical excision to specified organs.
Furthermore, the Power Reset feature fully restores the coverage after 12 months from the last claim. As a result, the insured can make multiple claims of up to 500% of the insured amount.
Moreover, the Power Relapse feature allows the insured to claim twice for the same critical illness after 24 months from the last claim.
Most importantly, an imperative point that is often overlooked is the definition for claim. All things considered, most consumers will prefer to go with a plan with a broader definition for payout. This is especially important as not every insurer adopt the same definition for the medical condition. (Yes, every insurer will issue payout when definition are met. But whether it is practical to fulfil the definition or not, that is a separate topic.)
Finally, there is exclusive partnership with Medix and WhiteCoat to help you when the need for professional second advice arise. Also, you may integrate the plan with AIA Vitality for discount of up to 15% every year over time.
All in all, I have highlighted some of the key points that you should understand about yourself and to look out for when comparing AIA Power Critical Cover against similar plans in the market. In any case, it is all about planning for your future and you do not need to overspend on a single plan to fulfil your insurance needs.
Feel free to drop me a text if you are keen to find out how I do comprehensive financial planning for my clients without overspending on insurance premium.
Here is everything about me and what I do best.