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 Insurance Talk V2, Anything and everything about insurance

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echoesian
post May 12 2014, 04:38 PM

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How much is "enough" for a life insurance?
echoesian
post May 12 2014, 05:06 PM

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Nowadays especially when age is growing older... the whole life insurance premium is super expensive a lot of peoples are going to those investment linked insurance.. what is the cons of having big sum insured with cheaper premium ?
echoesian
post May 13 2014, 12:08 AM

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QUOTE(roystevenung @ May 12 2014, 11:47 PM)
First off, is there a reason to have huge sum insured, especially at older age? Life/CI is meant for income replacement during our working career while we work towards our retirement.

Upon retired, most of us working people will lose the medical benefit and had to rely on their own personal medical card.

Big sum insured with cheaper premium at older age does not exists in insurance context since insurance goes up by age based on the mortality rate.
SoS?
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Yes it is available, those plan are called investment linked plan which do not have higher bonus compared to whole life insurance plan. Comparing with the same amount of sum insured, I would need to pay double or even triple the premium for a whole life insurance.

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