Premium differs because of the benefit included as well as the term of the coverage.

For Critical Illness, there are few category.
An accelerated CI will be cheaper than a non-accelerated CI, what does it mean by accelerated? - the payout will deplete the basic sum assure of the Death/TPD main plan.

Meaning if you had 300k Death & CI coverage (Accelerated), once a payout of 300k CI is paid, the plan terminates as there is no more payout for the basic plan upon death anymore.

Whereas for a non-accelerated CI plan, if you've done a claim for the 300k CI, and upon death, you'll get another 300k payout as well, total of 600k.

Hence the premium you're paying extra is for the additional benefit.

Another thing I've mentioned earlier which is the term of coverage. Certain agents will try to reduce the tenure of coverage in order to stay competitive in their premium or to portray a cheaper premium but in fact, your policy will last shorter as well which makes you require to pay more in the future if you wish to extend your coverage to a longer tenure.

Premiums are not guaranteed as the cost of insurance is not fixed, the insurance company may notify you the need to do top up in the future by serving you a notice.

I guess your statement proved my point where the other one is a shorter tenure.

For a auto-renewal basis, you may be required to pay more at the later stage. Something you may want to take note on. - Are you comfortable to pay a higher premium when you're much older or would you prefer to pay a slightly higher now and enjoy a lower premium when you're older?

Yes, you can say so (until any repricing)

No one knows, it will definitely be a step up or atleast 50% more because by then, your cost of insurance would have increased due to your age + you start from near 0 cash value.

Which means the insurance company will adjust their cost of insurance on the basic plan or critical illness rider if there is a need to.

This will impact your policy term as the cost to maintain the policy had increased thus you may need to do a top up in order to maintain the same tenure.

hi Batusai, few factors that determine the premium.

1. What is the coverage term? 70? 80? 90?
2. With the quoted premium, what is the sustainability age of both policies?
3. What are the risk of funds chosen?
4. For the CI, what is the detailed coverage? For eg, does it payout based on critical illness stages, does it payout multiple times? Also will the CI payout cancel off the life insurance amount, for eg: once 300k CI payout, there is no more 300k life insurance payout.

If you want a more certain answer, you can show some of the plan details (cross of any PnC details).