My agent help me to review my policy and say coverage too low. I am now consider to buy a new plan or upgrade existing plan.

What will make a different between upgrade new plan and buy a new plan?

Currently I have LIFE /TPD 50K and CIBR 50K

upgrade to LIFE/TPD 150K and CIBR 150K + Medical Card

or buy new LIFE/TPD 100K and CIBR 100K + Medical card.

Which one is better?

a. In term of saving on Insurance cost?
b. In term of saving on distribution cost?
c. In term of Premium?
d. other benefit/disadvantage?

Assume if I buy new plan from some company and same product but maybe add rider.

Thanks.
Chee

Thanks for all for the reply.
My policy only 3 years. ILP, so it is upgradable.
My agent judge coverage might not enough based on my annual income and family commitment.
And there are no medical card.
He already quote me a comprehensive (include life, tpd, mc,36ci, waiver). But when I look on basic plan, it is same as what I have with other agent. Only different is the rider and sum assured.
That is the reason I am wonder should I go for new plan or upgrade my existing.
But if allocation will be same for top up premium for upgrade and new. Then, I should opt for new plan.
There shouldn't be problem to claim both policy for life/tpd/36ci/waiver/pa.

I have no plan to cancel my existing policy even I go for new plan.

This post has been edited by fussychee: Mar 29 2014, 01:14 PM