Asked on 30 May 2018
I agree with Gabriel. Consider adding rider to your current policy. But if the plan doesn't allow, you can consider a standalong early CI plan with no cash value.
But if you want something limited pay, then you can consider having a whole life with early CI.
I'll drop you my email [email protected] if you need a second quotation!
Check if you can add on a CI rider on your existing policies. It is much better in terms of trying to claim and also save you money.
You might also want to evaluate if you really need 2 life policies that you currently hold.
Similar thoughts with both Gabriels.
Option 1: add on a rider to your existing WL plan.
Pros: Limited pay, Lifetime coverage
Cons: More expensive compared to Term, Sum assured of your existing plan will decrease if you make a claim
Option 2: Stand alone CI plans
Pros: Cheaper, May allow for multiple claims
Cons: Pay till you do not want coverage
As a rule of thumb, you should cover ~10x your annual income for Death & Diability, and ~4-5x your annual income for CI (including ECI)