Early payout critical illness policy

Dear Mr. Tan
What are your views about the early payout critical illness policy that has been advertised by Great Eastern. Is it necessary to have this insurance?

REPLY
It covers some of the important risks in life, but you have to observe the following points:

• Take the cover for not more than 20 years
• Compare the premium rates offered by three companies for the same cover
• Read the policy wordings to make sure that you understand the cover, i.e. do not rely on the explanation of the insurance agent.

I like to make a comparison of the premium rates for the following ages - 20, 25, 30, 35, 40, 45 - separately for males and females, and for terms of  5, 10, 15 and 20 years. Please get me the premium rates for this cover charged by different insurance companies. I will prepare the comparison for those that contributed to this research and for FISCA members,.