Critical Illness (CI) - Seedly

Critical Illness (CI)

Pays out when you are diagnosed with any one of 37 critical illness

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Insurance

Term Life Insurance

Early Critical Illness (ECI)

Critical Illness (CI)

This would answer your question. If you only discovered at late stage, Living Care Plus will not pay out. This is unlike private insurance ECI definitions and payout. !
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Insurance

Critical Illness (CI)

Hospitalisation Insurance (H&S)

Stroke patients have possibly zero chance of getting coverage for either health or life insurance. For high blood pressure, you can try Raffles Health Shield for health insurance, and some of the newer CI plans like MyCoreCI from Aviva that would insure someone with that condition.

Early Critical Illness (ECI)

Critical Illness (CI)

Whole Life Insurance

Insurance

To answer your question, you need to look at the total coverage you require. The rule of thumb is around 10 X your Annual Income in the event of Death and 5 X your Annual Income in the event of Illness. Top up accordingly. However, I suggest to skip on the CI coverage provided by the Mindef Aviva Group Term plan as premiums change as you age and their ECI list of conditions covered is not comprehensive.

Whole Life Insurance

Term Life Insurance

Critical Illness (CI)

Insurance

AMA Christopher Tan

Brandan Chen
Brandan Chen, Financial Planner at Manulife Singapore
Level 5. Genius
Answered on 29 Jan 2019
Would encourage you to upgrade your Hospitalisation to minimally Private or Class A ward if you are able to afford it! As for CI, there are 3 main options available: 1) Whole Life Plan 2) Term Plan 3) Multi-Pay CI plan It is also important to look at ECI coverage if you have the budget. In terms of how much to cover, perhaps you can consider covering about 1 - 2 times of your annual Income in ECI and overall 5 times of your annual income in CI. It is best that you sit through with a financial advisor that is able to explain the available options so as to cater to your needs and budget. Alternatively, you may also drop me a PM on facebook https://www.facebook.com/brandan.chen or arrange for a chat with me via the following website: https://brandanchen.manulife.sg/

Early Critical Illness (ECI)

Critical Illness (CI)

Insurance

Critical Illness coverage is designed to be an income replacement so as your income changes, your level of cover will change too. You do not want to be under insured or over insured (as this will cost too much). My recommended level of cover is for 5-7 years times your annual income overall. Of which, 1 year's Annual Income to be specifically allocated to a plan which payout for Early Critical Illnesses & the balance 4-6 years Annual Income to be under Major Critical Illness. Early Critical Illness cover is expensive and as such, you do not want to be over-paying. 1 year's Annual Income is sufficient as treatment is covered by a 100% as charged Medishield Plan & most people who are diagnosed with an Early Critical Illness are back to work within 6 months to 1 year.

Critical Illness (CI)

Salary

Bank Account

Insurance

This is an oddly specific question... Well if you have 500k in assets, I don't think you'll be able to receive assistance.

Hospitalisation Insurance (H&S)

Disability Insurance

Whole Life Insurance

Term Life Insurance

Critical Illness (CI)

Early Critical Illness (ECI)

Savings

Insurance

Yong Kah Hwee
Yong Kah Hwee
Level 6. Master
Updated on 25 Oct 2018
I'm 25, paying $68/month for hospitalisation, term life, ECI, CI, TPD, disability income. Apart from hospitalisation, I am using the MINDEF AVIVA insurance for the rest. As for whether it is a fair amount, you do not need to benchmark with anyone. As long as you are comfortable with the coverage that is provided, you are good to go :)

Term Life Insurance

Whole Life Insurance

Critical Illness (CI)

Early Critical Illness (ECI)

Insurance

Luke Ho
Luke Ho
Level 6. Master
Answered on 19 Oct 2018
There are term plans that cover Eci and Ci alone, where you can opt for a Multipay term or just an ECI term. There wont be a need to call your agent. Look for dread disease or the word critical on your policy document. If its not there, you have neither. https://www.moneymaverickofficial.com/posts/prioritise-early-critical-illness-insurance-life-insurance

Health Insurance

Hospitalisation Insurance (H&S)

Healthcare

Critical Illness (CI)

Endowment Policies

Investment Linked Policies (ILP)

Lifestyle

Insurance

Qinghui Chua
Qinghui Chua
Level 3. Wonderkid
Answered on 17 Jun 2018
Im female, late 20s, single, no kids. Currently have hospitalisation, whole life coverage with riders that cover critical illness and female diseases. I think whole life coverage is something you should get now since it is cheaper, when you are healthy. I hope i will be able to afford the healthcare when i can no longer work. If you have extra, i think getting term insurance on top of whole life will give you better coverage. Ultimately, find a balance between these 2 and make sure you can afford it.