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? - Seedly

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Asked by Anonymous

Asked on 09 Apr 2019

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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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
Loh Tat Tian

16 Apr 2019

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