Hi Mr. Tan,
I got 2 different quotations for 30-year level term insurance covering death, terminal illness, and total permanent disability, sum assured S$400k.
Company X: S$752/year
Company Y: S$628/year
I asked the agent why Company Y is 20% more expensive. She said that it is easier to make claims under Company X. Is this true? Is it worthwhile paying the higher premium to make easier claims?
REPLY:
Do not believe the agent from Company X. Do not pay 20% more. The claim process should be the same.
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