Isit advisable to get a whole life plan(CI + ECI) with a low sum assured of $100K and add on term in future for higher coverage?

Hey there!

Yes, you will be able to claim for both. If you are looking for limited pay for your early working years, then yes, whole life plan will work well for you. You can choose to top it up either with a term plan and/or a standalone muti-pay CI plan in the future. It comes down to the objectives of your plans.

Your whole life plan allows you whole life coverage which acts as a base, whereas your term plan will be there to hedge against a liability with its high coverage while your standalone CI plan will help to top up your CI coverage since it's highly likely your CI rider is, by default, an accelerating rider, ie. it will reduce your death benefit. Ultimately, your needs will evolve along the way with changing life stages eg. marriage with kids, housing etc.

However, do note that if you are getting multiple of the same plan, you may want to check if there is a total effective cap to the claims you can get from both of the same plan.

Financial planning is an integral part of life. You can reach me here to find out more.

https://www.aaronleow.com/insurance-requirement...

You can use the above calculator for tabulation of insurance and premium guidelines.

Most would get both to receive a cost-efficient structure for insurance needs.

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