| Quote: | | | Originally Posted by Leocravensky | | | | |
| If you have life insurance, why wouldnt you have TPD coverage? TPD is bundle with life insurance's Sum Assured.
I must admit, the future protector seems to be a good plan as inflation is taken into consideration.
But extracted from http://www.axa-wm.com.sg/products/pr...protector.html
*Once indexation is activated, the sum assured and premiums will increase automatically at each policy year according to the increase in the prevailing Consumer Price Index (CPI) or at a fixed rate of 5%, whichever is higher.
Is this 5% or higher feasible? Another factor will be the premium cost?
Also are you looking at any returns? Term insurance has no cash value should it reaches the end of the term or should you discontinue but it is very cheap no doubt. | |
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Hi,
Probably I never state clearly. Currently as of now, I do not have any life insurance policy. I only have a personal accident policy from AIA, Group Term SAF Insurance from Aviva and a H&S policy from NTUC Income. Therefore, I am trying to get a policy that covers me TPD and CI as the main coverage requirement as I believe that death coverage is sufficiently covered.
Yeah, i read about the increase in premiums for AXA's Future Protector plan. That's why I would like to find out more first before deciding which would be a better deal for me. As it seems, Future Protector is a term policy.
I have spoken to an adviser from GE, and she recommended to me FlexiLife 20 and SupremeLife. SupremeLife seems like a better deal but it's an ILP policy, which I am a little skeptical about it.
I have spoken to an adviser from Prudential too, and her recommendation was PruLife and PPA. Prulife is a whole life policy and PPA is an ILP.
For me, I would like to keep insurance and investment seperate but I don't know, it seems that I am slowly being "brainwashed" into thinking that ILPs are not a bad product after all! haha
Both advisers claim that ILPs would work better for younger people( I am currently 21 years old).
Cash value is good but not that important factor to me. To me, the main objective of getting an insurance policy is the protection, not monetary gains. So I guess that if there's a cash value, it would be an added bonus. Therefore, I am still comparing the pros and cons of term and whole life policies.
It's a big headache...haha
