Disability income insurance

Hi Mr Tan,

I've indeed learnt a lot about financial planning via your blog. Thank you very much for your valuable advice to all the readers.

Is it advisable to have critical illness coverage against the 30 major illness or is it more important to buy disability income insurance?

REPLY

Unfortunately, most insurers do not provide disabilty income insurance on competitive terms.

So, you should buy a critical illness cover. I think that $50,000 is sufficient. The insurance agent will try to get you to buy more, especially a whole life policy.

Try to ask them to give you a critical illness policy that stops at 60. Beyond 60, you have sufficient savings (by saving through an investment fund, to take care of your medical needs.

Read the FAQ in my website, www.tankinlian.com/faq