Dear Tan Kin Lian
My agent said that my ILP covers are personal accident, medical card, 36 disease and permanent disability. If I want to buy a separate policy to cover the above, I have to pay a higher premium. Is this true?
REPLY
You can compare the cost of the insurance covers under your ILP with the benchmark premium mentioned in this FAQ:
http://www.tankinlian.com/faq/benchmark.html
You can use the term insurance rates to compare with the death benefit, including permanent disability. The premium to cover 36 critical illness is 1.5 times of the term insurance rates (as a rough guide).
The ILP will probably charge you a rate that increases each year. The benchmark premium shows the level premium for the period. You can add the total premium for the period (say 20 years) to make a comparison.
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