Friday, October 16, 2015

Rider to cover critical illness and early detection

Hi Mr. Tan
Is it necessary for me to buy the rider to cover critical illness and early detection together with the term insurance policy?
There is a small risk of critical illness during the 25 years of the policy, but it should be very small. If you buy the rider, make sure that you are paying a fair premium. Ask three insurance companies to provide a quotation for the term insurance and the rider, and make your decision based on the quotation.
Get an independent financial adviser to source for the quotation for you and pay him or her a fee for this work.


Anonymous said...

Early CI is a scam..Consult your doctor and they will tell you early detection is so difficult and very often it is the end stage of the desease that is detected. Don't be conned by insurance agents and their companies. Insurance companies know that it is very lucrative to scam the public because of their kiasi mentality and they use the agents to push and scare them, especially the woman agents.
Insurers are not Santa clause and they know how to make money out of the fear from the public especailly the woman folks, this is unethical.
Usually they pay so called 'victims' of early stage cancer to testify and sell to the public. They even use doctors who are willing to say and sell if they are paid well. All of these people are dishonest.
Don't fall into this fear trap.

Anonymous said...

Visit lah. Why ask insurance agents? You want to be conned, then go ahead. They are useless salesmen and women whose only interest is the commission. They don't add value to you but their own pocket. They are incompetent and yet they dare to call themselves 'financial consultant'. it is an insult to the real consultant.

simple said...

Mr Tan, I bought a $50k Cancer protection insurance about 30 years ago which can be claimed upon certification of an ocurrence. The premium is about $700 per annum. I'm 67 years old. To date it is still in the money above breakeven point (excluding opportunity interest cost)

Q: Is it worthwhile to continue with this insurance?
Is it benficial to switch this to, say, a critical illness insurance with
multiple illness cover?

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