Should I get a early cancer term insurance plan with Citibank or AIA? - Seedly
 

Insurance

Term Life Insurance

Early Critical Illness (ECI)

Asked by Anonymous

Asked on 25 Apr 2019

Should I get a early cancer term insurance plan with Citibank or AIA?

Just received a call from Citibank about an early cancer term insurance plan with AIA. I have a chronic kidney disease and was denied life insurance with Great Eastern previously.

Plan is only for cancer. Does not require medical checkup, and will not need a submission of medical report. Only prerequisite is that you have not had cancer before.

1) $40/mth: Singapore only. Early stage payout =12k, Late stage payout =80k

2) $66/mth: Covers anywhere. Early stage payout =45k, Late stage payout =150k

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Assuming the policies offer the same coverage for the same premium, always get from an insurance company. This is becos there will be someone servicing you if you get from insurance company, but not from the bank.

Of course there is likelihood that your insurance agent is irresponsible or he/she may leave the company, but at least you still get higher chance of being serviced after purchaing the plan.

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James Agape
James Agape

3d ago

No one can guarantee that he/she will stay on with the Company for long-term. Nowadays, with the help of technology, even if the FC is not representing his/her previous company, he/she can still service that client, it is whether he/she wants to offer such service.
James Agape
James Agape
Level 2. Rookie
Answered 4d ago

Since you have chronic kidney disease and was denied life insurance, despite the non-medical checkup of the early cancer term insurance plan with AIA, most likely they won't payout in the event of an early cancer because it is considered as pre-existing condition. It will be stated in the policy document of the AIA plan that pre-existing condition will not be covered.

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William Ng
William Ng
Level 4. Prodigy
Updated on 07 Jun 2019

I would choose to get that from insurance company instead of getting from bank.

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HB Tan
HB Tan

25 Apr 2019

But the policies will be underwritten by an insurance company. The bank is just helping to sell.
James Agape
James Agape

4d ago

You do a comparison by meeting both the Financial Consultant and the Relationship Manager, to see who will do a proper planning for you or just trying to sell you something.