Whole Life Insurance
Critical Illness (CI)
Asked 2w ago
I’m currently looking for a whole life insurance with CI rider. Considering between these 2 companies: manulife and aviva. Anybody can share their opinions?
Aviva, Manulife, and China Taiping are my top 3 choices.
But Aviva is in my opinion the superior option by quite some distance.
To note, there are 3 components in a WL policy.
1) Base cover (for life)
2) Additional cover (for a term usually to 70)
3) Cash Value.
The biggest reason for Aviva is because Aviva pays the cash value during the multiplier period, while Manulife (and every other insurer) will eat the cash value if it is lesser than the multiplier/additional cover amount durng the multiplier period.
This could result in tens of thousands or even 6 figures (depending on the size of your base cover) of extra claims if you make claims between the ages of 50-70.
Take a look at the death benefit table of both plans and you can see what I'm saying.
Enhanced IncomeShield Preferred
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