If TruMatch and Term E-book give different recommendation, what to follow?
15 Nov, 2021 by Archie
The Beshak Term Insurance E-book suggests not taking riders, and choosing more comprehensive protection plans. But the TruMatch report suggests taking the same riders. What advice should I consider?
Thanks for asking this question.
The eBook is a general recommendation, education for people across personas.
TruMatch is more personalized for each community member.
So TruMatch will always take precedence over eBook.
With regard to the Critical Illness recommendation, we have had our own learning curve. The suggestion with regard to standalone Critical Illness policy is the perfect approach for sure, but we realized after many interactions with community members like you that there are multiple practical constraints (the difficulty of going through buying another insurance policy, medical tests, very expensive over the lifetime of the product, etc.) in subscribing to the "perfect cover" that standalone product offers - many end up not buying/ delaying a critical illness cover altogether.
On the other hand, a rider (although less comprehensive) at least ensures that an important task gets done. We have hence decided to recommend the rider as a practical and effective solution. This has been explained in detail in our Critical Illness eBook: Best Strategies to buy Critical Illness Insurance Policy | Compare Riders Vs Standalone Critical Illness (beshak.org) - covering comparisons across general and life insurance products.
Long story short: Given that getting a standalone critical illness is an arduous task for many of us (So many haven't even bought the mandatory health or life covers) - we recommend people go with a rider, which may not be a perfect solution, but will work in most cases, where it needs to work. Except for the very rare amongst us, who will take the pain to buy a standalone.
Hope this explains.