Hi may I check how reliable or safe is it to purchase my 1 year old kid CI insurance from China Taiping? They seems to be really new in the market but their quotes are very competitive!? - Seedly
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Insurance

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Critical Illness (CI)

China Taiping

Anonymous

Asked 2w ago

Hi may I check how reliable or safe is it to purchase my 1 year old kid CI insurance from China Taiping? They seems to be really new in the market but their quotes are very competitive!?

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Hi anon,

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.

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