Choice of term or personal accident insurance

Dear Mr. Tan,
I have read your blog and website. Your articles are really helpful to individual investors at the grassroots.

I have term life and personal accident policy. You mentioned that it's reasonable to have sum assumed 5 to 10 times of annual income. Does this ceiling apply to life and personal accident respectively or separately? Should the aggregate sum assumed be taken to make up the ceiling?

REPLY
If you can afford the premium, you should buy term insurance for the target sum of 5 to 10 years of salary. Term insurance covers death from accidents and illness.

If you with to reduce the cost, you can insure the target sum partly by term insurance and partly by accident.

You should get the quotation of the cost and make your decision based on the figures.