I am interested in buying a limited life insurance for 20 years and currently looking at Star Assure, AVIVA MyWholeLifePlan III and Manulife LifeReady Plus. Any reviews on them? - Seedly
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Life Insurance

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AVIVA MyWholeLifePlan

Anonymous

Asked on 18 Jul 2020

I am interested in buying a limited life insurance for 20 years and currently looking at Star Assure, AVIVA MyWholeLifePlan III and Manulife LifeReady Plus. Any reviews on them?

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Hi anon,

You could probably find reviews on Google, but I will give you my take on these plans in general, highlighting key points.

Star Assure:

  • Has a Major Impact Benefit for CI and Advanced Restoration Benefit for early CI

  • Unable to have full early CI payout

  • Payout is higher of either basic Sum Assure plus bonuses, or multiplier amount

Life Ready Plus:

  • If you are healthy, Health Advantage offers a small discount

  • Covers the most conditions

  • Payout is higher of either basic Sum Assure plus bonuses, or multiplier amount

MyWholeLifePlan III:

  • Flexible Multiplier duration; can reach up to age 80

  • Able to add multipay CI as a rider

  • Payout includes bonuses on top of multiplier

Premiums wise I generally tend to find that Aviva and Manulife are more competitive than NTUC, although Aviva tends to have a slight edge. But this depends on factors such as how much coverage you are getting, your age, the ratio of early CI to late CI coverage, etc.

As your question is quite general I can only give a broad overview. Speak to an independent financial consultant in order to get something suitable for yourself.

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Jonathan Soh
Jonathan Soh, Wealth Manager at Aviva Financial Advisers
Level 6. Master
Answered on 21 Jul 2020

Hi there. To put it simply, the differences between the 3 are minimal. You'll do well getting any one of them. I cover NTUC, Aviva and Manulife and I've done life insurance comparisons for my clients before for diferent ages. Summary is always the same - each insurer offers their own pros and cons.

If you wish to find out in-depth about any of the 3 products do hit me up here for a casual chat. Fyi, there are also promotions ongoing for life insurance for the 3 companies that are ending soon.

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Hi there,

If you are looking for reviews in general, for the different said policies in the market, its hard to find conclusive and unbiased information in the different postings.

The gist of the policies mentioned, that they are all whole life policies. The difference is between in how the policies are constructed, and how the premiums are aggregated with relation to the companies risk standpoint.

As a consumer, i would focus primarily on the cost-benefit aspect, with regards to the premiums and coverage. This so that i can allocate my effectively allocate my resources.

I do hope i was able to answer your queries. Have a great week ahead!

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