Exclusion of critical illness

Mr Tan 
I intend to purchase a level term insurance for S$400,000. I am 40 years old and have diabetes type II but well under controlled till now. 


My agent informed me that due to my medical condition, he can propose a term insurance but without critical illness coverage. I would like to know whether this is fair for them to exclude Critical illness out of term insurance. 


REPLY
You should ask them to explain what is the "exclusion of critical illness coverage". Does it mean that the term insurance does not pay for death by heart attack, cancer? It does not make sense to have a term insurance policy with these exclusions. Due to your medical condition, it may be necessary for you to pay a loading, i.e. a higher premium rate, but you should get the full cover in the event of death during the term.

Read the FAQs in www.tankinlian.com (Ask Mr. Tan)