Asked by Anonymous

Should I terminate Aviva Group Term Life ($280k) & Personal Accident ($100k) or should I increase the coverage? As I am going to MR 3yrs time will this plan still cover what I did outside NS?

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  • Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Apr)

    Level 7. Grand Master
    Answered on 09 Apr 2019

    It covers until you're 70.

    It's the cheapest term plan available. So I'd recommend to get more if you need the coverage.

    However you should still get coverage for Critical Illness from a private plan instead of group due to limits and limited conditions covered.

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    • Loh Tat Tian
      CI cost makes sense for age 30/35 and below. Beyond that, it's better to get a level term from a private insurer from what I have calculated before, after accounting for time value of money
      16 Apr 2019