What is the difference between getting another WL plan with multipay ECI/CI vs standalone multipay CI? I'm in my mid-20s and already have a WL plan with accelerated Cl rider of 150k until 65.?

Hi there. A standalone CI plan will be much more comprehensive than a CI rider. The former paying multiple times and the latter paying just once.

If you are in your mid-20s it's definitely advisable to get yourself covered well for CI while your health is likely to be in good shape, so I will recommend you to take up a standalone CI plan. However since you already have a CI rider's coverage, your standalone CI plan can minus off a fraction of the coverage you have from the rider.

The amount you should cover yourself depends on your income/expenses and your budget, but generally speaking 100k coverage will be considered basic.

You can reach me here to find out more. I cover 9 major insurers, a few of which have the best CI plans in the market.

Hey there!

Whether to get a multi-pay CI or whole life plan will largely depend on your objectives. In general, accelerated CI riders will reduce your death benefit and if it's a 100% acceleration, your plan will terminate upon payout of CI diagnosis (do check T&Cs, different plans may work differently) and there will not be a death benefit.

A multi-pay CI plan, of course, offers multiple claims for relapses, different CI occurrences etc. Some even cover pre-early conditions eg. AIA Power Critical Cover and allow for multiple claims for special conditions like osteoporosis etc. They also typically come with a premium waiver rider option that basically waives off your premiums upon diagnosis of CI to ensure you're covered.

In general, the multi-pay CI can help top up the coverage needed. A good CI coverage in total will be approximately 5x of your annual income to cover for the time off work needed to recuperate.

Do consult a licensed financial consultant to evaluate your objectives and needs. All the best!
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