Last Updated on May 24, 2022 by Parentology
Term plan insurances are flexible for coverage and premium years, low cost and versatile to include the various rider benefits available. They are also widely used in many scenarios to protect against life and death as well as critical illness.
China Taiping’s i-Protect Term plan aims to do just that, with the various riders it has including critical illness from early to advance stage coverage.
Features At a Glance for China Taiping i-Protect Term Plan
Flexible Policy Coverage Term
Have the option to choose your coverage until 65, 75 as well as 85 years old, or take up the coverage and choose from 11 to 40 years of coverage duration.
Yearly Renewable Term is Guaranteed
With the 5 and 10 year premium term option, they will be yearly renewed automatically and this coverage is until 85 years old, regardless of health condition. However, premiums will be revised based on the age at the end of 5 or 10 years.
Choose to convert your China Taiping term plan to a life plan should your needs change. This is to cater to our ever changing needs in life as we age over the years. This can be done without any further medical underwriting.
Comprehensive Early Critical Illness
China Taiping has one of the most competitive and comprehensive early critical illness coverage around with a total of 161 covered conditions from early to intermediate to advance stage critical illness, along with the special conditions.
The optional riders add on supplementary coverage to further make the plan comprehensive to cater to your concerns:
With a total of 161 covered conditions from early to intermediate to advance stage critical illness, along with the special conditions, you can be assured that the EarlyCare rider is certainly one of the more comprehensive critical illness condition rider available in the market.
The critical illnesses across early, intermediate to advance stage cover 149 of them. Additionally, there are 12 special conditions covered:
|Breast Reconstructive Surgery following a Mastectomy||Osteoporosis|
|Chronic Adrenal Insufficiency||Pheochromocytoma|
|Chronic Relapsing Pancreatitis||Severe Crohn’s Disease|
|Dengue Haemorrhagic Fever||Severe Rheumatoid Arthritis|
|Diabetic Complications||Severe Ulcerative Colitis|
|Hysterectomy due to Cancer||Wilson’s Disease|
Source: China Taiping
This rider covers up to 55 advance stage critical illness, beyond the 37 critical illness listed by the LIA (Life Insurance Association). This includes blindness, deafness, burn, kidney failure, heart attack, stroke as well as major cancer.
In the event of TPD (Total and Permanent Disability), receive a lump sum payout that can be equivalent to the main sum assured.
How China Taiping i-Protect Term Plan Works
Source: China Taiping
China Taiping’s i-Protect Term Plan is Suitable For:
- Comprehensive death, tpd and critical illness coverage with competitive premiums
- Extensive list of critical illnesses from early, intermediate to advance stage including special conditions, with a total of 161 conditions covered.
- 5 and 10 year renewable term are guaranteed and without medical underwriting
- Option to change to a whole life plan without medical underwriting to suit changes
Conclusion for China Taiping i-Protect Term Plan
China Taiping’s suite of protection coverages are one of the more competitive plans in the market. As with all term life insurance plans, the suitability of this plan for you will largely depend on your needs and expectations. There are many term insurance plans in the market with many strong Insurers. Which one suits your financial planning for yourself and your family the most?
We work with professional Advisors from Financial Advisory firms to provide unbiased recommendations and advices to find you and your family the most suitable coverage based only on your needs and concerns.
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