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Etiqa Essential Critical Secure caught my attention with monthly cash payout upon diagnosis of any of the 36 covered severe stage critical illness. 1% of original sum insured of $100,000 and we are looking at $1,000 per month for up 200% of the original sum insured.
With soaring medical inflation, the expense of healthcare will steadily rise. Although hospitalization schemes may defray some medical expenses, the loss of income due to inability to work remains a concern. Thankfully, Etiqa Essential Critical Secure provides accessible and thorough coverage up to age 100, allowing you to concentrate on recuperation without fretting over exorbitant medical bills or everyday expenditures.
Some things to note. This review post will get dated. And the product might not be available for new subscriptions at some point. Hopefully this serves as reference for future policyholders who have forgotten what they have taken up.
There can be shifts in planning narratives over time. For example, limited premium tenures gain popularity over the years because people are less confident of their future earning capacity or sustainability of income levels. Regular payout features gained popularity when more and more people are in tune with the FIRE (Financial independence retire early) movement. An extended period of low interest rates brought down insurance products’ returns yield for policy holders, but now in a rising interest rates environment, things are set to change.
Products get better over time too. It is possible to cover critical illnesses with standalone plans up to age 100 for example. Some products come with new features not seen before in the past.
Etiqa Essential Critical Secure may or may not fit into your financial plans. Understand that there is no best plan for all time, but there is a method to objectively facilitate your decisions. Read more about it here.
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