Should I go for Aviva multipay or Manulife ready complete care for CI coverage?

Hi anon,

Interestingly I am advising a client between these two plans currently.

Basically both plans will allow multiple claims, but there are some differences which I would like to point out, besides the claim structure (which differ between each plan), and this is definitely not the exhaustive list of differences between the two plans.

For Aviva, the first layer of claim has no waiting period (you can claim twice here), and the premiums are waived after claiming from layer two (this is build into the plan). For Manulife, there's a waiting period of 12 months (based on claim date) between the layers, but you can add an early CI premium waiver in ordrer to waive the premiums

For Manulife, there are additional payouts for cancer only, whereas for Aviva, the additional payouts for layer 3 and 4 can be for recurrent heart attack, recurrent stroke, or re-diagnosed cancer. Waiting period for Aviva is based on date of diagnosis.

As you can see there is almost no apple to apple comparison between the plans and it may be just as well. As the premiums between them are generally competitive, you could do what Hariz suggested and split your coverage equally between both plans.

Firstly, we need to know your needs. In addition to getting insurance coverage, you need to be comfortable with the terms for payout, e.g. definition for relapse, subsequent claim, number of covered conditions.

By far, all my clients prefer to have critical illness coverage with a broader definition for payout, as compared to one with complicated terms and conditions. This is because all my clients prefer to focus on recovery, rather than to fight the technical jargons. Hence, this may be an area that you wish to look into as well.

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