Term Life

China Taiping i-Protect: Comprehensive Protection for Your Loved Ones

In today's unpredictable world, ensuring the financial security of your loved ones is more important than ever. Did you know that according to a recent study, 1 in 5 Singaporeans are underinsured , leaving their families vulnerable in case of unexpected events? This is where China Taiping's i-Protect comes in - a versatile term life insurance plan designed to provide maximum protection at an affordable premium. Whether you're looking for income replacement or want to leave a legacy for your family, i-Protect offers a robust solution tailored to your needs.

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What is China Taiping i-Protect?

i-Protect is a term life insurance plan that offers comprehensive coverage against death and terminal illness . It's designed to be flexible, affordable, and adaptable to your changing needs over time. With i-Protect, you can ensure that your loved ones are financially secure, even if the unexpected happens.

Key Features That Set i-Protect Apart

Flexible Policy Terms

  • Choose coverage from 11 to 40 years

  • Or select coverage until age 65, 75, or 85

  • 5 or 10-year renewable options available

Guaranteed Renewal

  • For 5 or 10-year terms, automatic renewal until age 85

  • Renewal regardless of health condition

Convertibility Option

  • Convert to another China Taiping life insurance plan

  • No additional medical underwriting required

  • Available until age 65

Optional Riders for Enhanced Protection

  • Add coverage for disability and critical illnesses

  • Protect against up to 149 covered conditions

Why compare China Taiping i-Protect with other Term Life options through Whatins?

Traditional Approach

  • Limited term length options from one insurer
  • May push longer terms than needed

Whatins Advantage

  • Compare term lengths across multiple insurers
  • See how different term life insurance periods affect premiums
  • Understand renewal options across insurers
  • See competing term length justifications and determine which one is best for you

In summary: If you want more control and multiple suggestions, then Whatins is the way to go.

What Does i-Protect Cover?

Death Benefit

A lump sum payout to your beneficiaries in the event of your passing.

Terminal Illness Benefit

Advance payout of the death benefit if you're diagnosed with a terminal illness.

Optional Riders for Comprehensive Coverage

DisabilityCare Rider

  • Provides a lump sum benefit upon diagnosis of Total and Permanent Disability (TPD)

  • Helps cover loss of income and additional care expenses

AdvancedCare Rider

  • Pays out a lump sum upon diagnosis of any of 55 covered advanced stage critical illnesses

  • Includes conditions like major cancer, stroke, heart attack, and kidney failure

EarlyCare Rider

  • Covers 149 conditions at Early, Intermediate, and Advanced stages

  • Includes 12 Special Conditions such as Breast Reconstructive Surgery, Chronic Adrenal Insufficiency, and Severe Rheumatoid Arthritis

  • Provides early financial support for treatment and recovery

How Much Coverage Can You Get?

The coverage amount for i-Protect is flexible and can be tailored to your needs. Here are some important points to note:

  • The base plan (death and terminal illness coverage) can be customized based on your requirements
  • For the DisabilityCare Rider, there's an overall Total and Permanent Disability (TPD) limit of S$5,000,000 per life , inclusive of all insurance with China Taiping and other insurers
  • For critical illness coverage:
  • Maximum payout for early and intermediate stages of the same critical illness: S$350,000
  • Maximum overall critical illness benefit: S$3 million (inclusive of all insurance with China Taiping and other insurers)
  • For Special Conditions under the EarlyCare Rider:
  • Maximum payout of S$25,000 per condition
  • Up to 5 claims allowed

Real-Life Scenario: How i-Protect Works

Let's look at an example to understand how i-Protect can provide comprehensive protection throughout your life:

Meet David, a 35-year-old sole breadwinner who wants to protect his family against disability and critical illnesses. He chooses i-Protect with coverage until age 85 and adds the following:

  • i-Protect base plan: S$1 million
  • DisabilityCare Rider: S$500,000
  • EarlyCare Rider: S$200,000 (Annual Premium: S$3,958.40)

Here's how the policy supports David through various life events:

Age 50: David is diagnosed with Diabetes (a Special Condition)

  • Receives S$25,000 payout from EarlyCare Rider
  • His sum assured remains intact

Age 55: David suffers an intermediate stage Heart Attack

  • Receives S$200,000 from EarlyCare Rider (rider terminates)
  • i-Protect's sum assured reduces to S$800,000

Age 60: David's Heart Attack progresses to advanced stage, causing inability to work

  • Receives S$500,000 from DisabilityCare Rider (rider terminates)
  • i-Protect's sum assured reduces to S$300,000

Age 70: David passes away due to another Heart Attack

  • i-Protect pays out remaining S$300,000 death benefit
  • Policy terminates

Total Payout: S$1,025,000

This scenario demonstrates how i-Protect and its riders provide crucial financial support throughout various health challenges, ultimately leaving a legacy for David's loved ones.

Pros and Cons of i-Protect

Pros

  • Flexible policy terms to suit different needs and budgets

  • Guaranteed renewal option (for 5 and 10-year terms)

  • Convertibility option without medical underwriting

  • Comprehensive coverage with optional riders

  • Coverage for a wide range of critical illnesses and special conditions

Cons

  • Premiums may increase upon renewal (for 5 and 10-year terms)

  • Convertibility option only available until age 65

  • Some coverage limits apply, especially for TPD and critical illnesses

Frequently Asked Questions

Can I change my coverage amount later?

You should check with China Taiping about options for increasing or decreasing your coverage after purchase.

What happens if I miss a premium payment?

There's usually a grace period for premium payments. Check your policy documents or ask your agent for details.

Is there a waiting period before the coverage starts?

Typically, coverage begins once your policy is in force, but there may be waiting periods for certain benefits or conditions.

Can I add riders to my policy later?

This depends on China Taiping's policies. It's best to discuss this with your financial adviser.

What's not covered by this plan?

Like most insurance policies, there are exclusions. Common exclusions often include self-inflicted injuries or pre-existing conditions not disclosed during application.

Conclusion

China Taiping's i-Protect offers a comprehensive and flexible solution for those looking to secure their family's financial future. With its adaptable policy terms, guaranteed renewal options, and wide range of coverage through optional riders, i-Protect can be tailored to meet your specific protection needs.

However, as with any financial decision, it's important to carefully consider your personal circumstances, long-term goals, and budget before committing to a policy. While i-Protect offers robust protection, it's essential to understand the terms, conditions, and any limitations of the policy.

Remember, the best insurance plan is one that provides peace of mind and fits seamlessly into your overall financial strategy. If you're considering i-Protect or any other term life insurance plan, it's always wise to consult with a qualified financial adviser who can provide personalized recommendations based on your unique situation.

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