Friday, January 25, 2008

Living Benefit

Hi Mr Tan,

I currently have the Living Policy and an IncomeShield policy. I am planning to cancel the living policy and get a pesonal accident insurance and i-term from NTUC Income. I understand that i-term does not provide coverage for critical illness. May I know if there is any affordable insurance for critical illness?

REPLY

You can buy the Living Benefit under the Family Insurance plan. It is similar to Term insurance, but covers critical illness as well.

You can ask their business center to give you a quote, and compare it with the benchmark premium shown here:

http://www.tankinlian.com/faq/choice.html
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1 comment:

Anonymous said...

Make sure that you have enough coverage, after all that is the purpose of protection, to cover enough so that your assets will not be affected and also that you can continue to have a stream of income to tide you over the period of your illness.
If you buy Living Policy , can you afford enough? If you are rich, yes.It is about 3-5 times your annual salary by rule of thumb.
Most people can't afford and insurance agents never bother to tell you or care for you that you have enough so long they can earn high commission even from a small policy like living policy.
Term Living Benefit should be the right product. Remember you don't need to cover for whole life if that is your concern; till 65 is enough. Whole life is insurance agents' concern because they get high commission.

January 26, 2008 11:32 AM

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