Dear Mr. Tan Kin Lian
1) I have bought three critical illness policies at different times, more than 10 years ago. Now I wish to cancel one of the policies. Can you tell me which should I surrender – the one I bought the earliest or the latest?
2) How much of sum insured for critical illness is considered sufficient for me?
I suggest that you ask the insurance company to quote the following to you, for each policy.
a) What is the cash value now
b) What is the estimated cash value in 5 years time
c) What is the premium payable for the next 5 years.
You will be able to make a better decision, after the above figures are available. You can read this FAQ to decide on the amount of insurance that you should have.
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- Motor Car Insurance
- Educating the public
- Early repayment of housing loan
- Tax Benefits in Life Insurance Products
- Refund of premium
- Keep your money in CPF Special Account
- Financial contagion
- Keep your existing policy
- Term insurance covers critical illness
- Singapore in the year 2010
- Savings for your child
- Commission on high cost policies
- Insurance agents need to make a living
- Critical illness
- Insuring a child for critical illness
- Selecting a policy to terminate
- Critical illness coverage for a baby
- Need a bank loan for a retail business
- Achiever Policy
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- Mr. Tan, I was about to sign up a long term saving...
- Wrong address won 4D first prize
- Jetstar to Kuala Lumpur
- High cost Investment Linked Policy
- Travelling to Kuala Lumpur and Bahrain
- Near target of 1,000 visitors
- Timing the market
- Expense ratio of investment funds
- Investing in REITS
- Calculating the yield
- ETF and Unit Trust
- Decline in interest rate
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- Financial crisis every 10 years?
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- Greed makes monkey of men
- Financial product with a guaranteed return
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