facebookWhat are the best Critical Illness + Life Insurance Plans? - Seedly

Anonymous

18 Jul 2020

Insurance

What are the best Critical Illness + Life Insurance Plans?

Hi, can anyone advise on an overall level which insurance plan is the best to cover critical illness as well as Life Insurance on top of it?

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PolicyPal

14 Jul 2020

Official Account at PolicyPal

It is definitely important to have coverage for both. The coverage provided for CI is different from health and life insurance. Life insurance offers a lump-sum payout only when you pass on and this sum is for your dependant. On the other hand, Critical Illness Insurance comes in as they offer a one-time lump-sum payout to cover upon diagnosis of the critical illness.

In a nutshell, life insurance is meant for your dependants while a CI plan is meant to cover the loss of your income and treatment fees.

Most of the time, Life Insurance comes with the option to add on a Critical Illness Rider. We have compiled a list of the best Life Insurance Plan which also includes the possible rider you can add on.

If you are looking for the best recommendation for your situation, get in touch with us for a free discussion.​​​

Hariz Arthur Maloy

12 Jul 2020

Independent Financial Advisor at Promiseland Independent

Hi Anon, I would recommend you speak to an independent financial advisor or a few advisors to get a comparison but I've provided a sample screenshot on a comparison of Whole Life Plans with CI below.

I also have one for multiple claim CI term plans as well with me. (EDIT added)

As a rule of thumb, do get 5 X Annual Income as coverage in the event of critical illness to protect your ability to earn money while ill and I would recommend to get this covered for life.

And there isn't a best plan, just the most suitable with great benefits. My comparison always ends up with Aviva, Manulife, and China Taiping being the top options for Whole Life with CI and Aviva, Manulife, and Tokio Marine, for Multi Pay CI Term plans.​​​

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