FWD Big 3 Critical Illness - should I add riders for neurological and additional heart conditions?

Hi, I'm planning to get this as a sort of gap / hedge in my CI portfolio as it seems simple enough. Can anyone shed light on whether it's worthwhile to add the riders? Seems like major illnesses, esp stroke & heart attacks do end up creating neurological and other heart conditions (this is probably more of a medical discussion).

I would also be getting a CI plan from Manulife / Aviva / AIA / TM - would those already cover the conditions in the riders?

Discussion (2)

What are your thoughts?

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Jonathan Soh

13 Aug 2020

Wealth Manager at Aviva Financial Advisers

Hi there. In my opinion if you add the riders, you might as well as put your money into the other insurers' CI plans instead. FWD's Big 3 CI plan is worth it because of how cheap it is. It is value for money for the amount of payout you get for one diagnosis, but if you add anymore premiums into it, then it becomes more similar to the other CI plans in the market.

Yes neurological and heart disorders are all covered in the CI plans from the major insurers. Critical illnesses can have complications, relapses and lead to other forms of diseases and that's why the other CI plans in the market payout multiple times across different CIs.

My recommendation will be to just get the basic Big 3 plan and focus the rest on a multipay CI plan.

You can reach me here to find out more. I cover 9 major insurers including Manulife, Aviva, TM, etc.

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Samuel Don Oh

11 Aug 2020

Hey there!

You are right. It is possible for, say for example, a heart attack to have a neurological effect on the brain due to the deprivation of oxygen to the brain. This may lead to increased risk of certain conditions like dementia etc.

Ultimately, whether to add on a rider or which plan to get will depend on your objectives and budget. If you are looking for comprehensive coverage, there are many plans out there. Plans like AIA Power Critical Cover do cover pre-early conditions and neurological conditions like Severe Dementia etc and offer a multi-pay benefit. Whether the conditions covered in a standalone CI plan overlaps with those of a rider will require some cross-comparison.

Do seek out a licensed financial advisor to find out more! All the best!
Financial planning is an integral part of life. You can reach me here to find out more.

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