Critical Illness (CI)
Asked 2w ago
If you are talking about safe as in the payout, then know that you are protected by the Policy Owner's Protection Scheme which guarantees the payout (including riders) up to $500K in the event of the failure of a member of the scheme (i.e. the insurer)
If you are talking about reliable as in whether CTP will pay, then that's a yes if you meet the claim criteria.
However I do understand that there maybe some level of apprehension when it comes to a newer company. This becomes a matter of personal choice in my view. I can somewhat relate to what you are feeling as I have many clients who are also wary and opted for another insurer instead.
Lastly, yes, their quotes are competitive. There are very few permutations whereby CTP isn't the cheapest. However, a CI payout from then does not include the cash bonuses unless it is already more than the additional coverage amount from the multiplier. Thus do take that into account.