What is a good term life that complements the AIA TCC plan, and is 3x100k ci cover enuf for me as a fresh grad who just started working? When I get kids do I top up for more coverage? Thank you

Hey Anon, here's a rule of thumb you can follow for amount of coverage you should have.

In the event of death and permanent disability: 10 X your Annual Income

In the event of Critical Illness: 5 X your annual income.

So if you're making 50k a year, you should have 500k in Death Cover and 250k in CI cover.

AIA TCC has a staggered payout schedule and doesn't pay 300k upfront. It pays 100k and then goes on a reset period where after 12 months iirc you can claim again.

So treat it like you have 100k cover only.

Now, all insurance companies have term life plans that you are looking for, but if you'd like a comparison from 7 different insurers, drop me a message on FB and I'll assist you. I'm an IFA rep, so I represent multiple insurers. :)

Hi there,

AIA TCC is a good plan to have. For now you should consider personal accident, hospitalisation plan and whole life plan. The former 2 are relatively low in cost and whole life plan is good to buy early so that you can complete the payment (with limited pay plans) before your next life stage. Yes, you should look at more coverage when you have kids if you are supporting the family, normally you can supplement your whole life plan with term plans to cover. Term plans are low cost and offers good coverage and you can convert term plans to whole life plans without underwriting.

Hope the above clarifies.

As a fresh grad, 300k CI coverage is good enough.

You might want to explore life or term policy that cover about 5 times of your annual income should be fine. The only time that you need to revise your coverage is when you have new liabilities and responsibility (new house, first child etc)