Early Critical Illness (ECI) - Seedly

Early Critical Illness (ECI)

Pays out when you are diagnosed early 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

Term Life Insurance

Early Critical Illness (ECI)

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.

Early Critical Illness (ECI)

Firstly, the Aviva living care plus is from the MINDEF group term policy. It's not a private policy. The living care plus only covers 10 early Critical illness conditions. It's non comprehensive and premium increases with age band. Getting a private ECI cover that covers 90-120 conditions is wayyyy better and premiums stay level. The Prudential one you mentioned is one of them. But if you'd like a comparison between other insurers as well, I can provide that.

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.

Comparison

Early Critical Illness (ECI)

Insurance

Yang Yang David
Yang Yang David
Level 2. Rookie
Answered on 16 Jan 2019
CCA premium is comparable to Supreme Early multiplier although it is a term plan. (I think GE should revise this rate) One thing to note regarding CCA is that it provides very little death benefit. My recommendation is SEM. Two highlights of Supreme Early Multiplier: full premium waiver upon diagosis any stage of CI and double payout for accidental TPD. SEM is poistioned as protection plan. Please ignore the surrender value. (This applies to all the multiplier whole life plan in the market.) 4 times multiplier to 65 years old is an optimized combination which provides the most value of money. of course you may go for 70 yrs if premium differs not that much of your age. Hopefully it may help.

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.

Early Critical Illness (ECI)

Financial Planners

Term Life Insurance

Insurance

Brandan Chen
Brandan Chen, Financial Planner at Manulife Singapore
Level 5. Genius
Answered on 13 Nov 2018
Mindef Group Term is good for temporary coverage as you procure other private insurance that may be more suitable for you when your budget increases. Like what Hariz mentioned, Group Term is great for Death and Disability coverage. You may also consider getting the rider for CI if you only require such protection till 65. As for ECI, it only covers 10 conditions which may not be adequate. It would be advisable to look at getting your own personal insurance when it comes to ECI coverage. For example, Manulife's ECI covers 105 Different conditions across early, intermediate and late stages. Having said so, there is no one size fits all to financial planning, and it all boils down to needs and budget. Speak to a trusted financial advisor that can answer your questions! You may always drop me a PM on facebook www.facebook.com/brandan.chen should you want to know more

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 :)

Early Critical Illness (ECI)

Family

Savings

Insurance

Hey Anon, I run SG Woman Insurance, and this is something we've been working on for the last few months now. I would suggest getting a multi pay CI plan as it covers all stages of illness and also in the event of relapse which is something Breast Cancer has a habit of doing. We also advocate going for a yearly screening for Pap Smear, Urine and blood test, and pelvic and breast examination, plus getting the HPV vaccine as soon as you can. We have insurance plans that allow you to claim a free yearly screening as well. You may contact me or drop my page a message. I'm an IFA and we can show a comparison of the available options in the market.

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