What are the differences between NTUC's VivoLife350 and Manulife LifeReady Plus (3X Multiplier)?

Hi Lai Wah,

Firstly, the options for the multiplier amounts differ, as you may have guessed from the plan name, VivoLife's multiplier is 3.5 times that of the basic sum assured. Other options include 1.2 times and 1.8 times. Manulife offers 1,2,3,4,5 times of the basic sum assured.

By adding the riders, you will get early critical coverage. Vivolife itself already has 40 late stage CI coverage build into the main plan and hence you won't need to add any rider for late stage CI, only early stage CI require the Early Protect Accelerator. For LifeReady Plus, the Early Critical Care Rider covers early, intermediate and late stage CI. The main plan itself does not have any CI coverage, only death and TPD.

I'd recommend that you consider all options on the table as other insurers can be also very competitive both on coverage and on pricing, before you commit to a policy. Contact an Independent Financial Advisor if you wish to get a list of options available to you for early CI cover.

Hi Ha Lai Wah

Both these plans cover ECI with the rider attached. Coverage wordings on the ECI has strong similarities so both are good.

The NTUC's VivoLife350 has a lower starting amount for ECI as compared to the manulife LifeReady Plus. The maximum cap you can purchase is also higher at $350,000 (vs $250k under LifeReady Plus) if you want that level of early CI coverage.

The Manulife LifeReady Plus can do at a 5X multiplier if you want to reduce premium outlay at expense of surrender value. There is a guaranteed insurability option to add on more coverage at certain stages. If you happen to be planning for kid, this plan is also a top suggestion of ours. More here: https://www.theastuteparent.com/2018/08/whole-l...

Speak to a qualified IFA or contact me at [email protected] if you've further queries.