China Life Term Guardian Term Plan Review

China Life Term Guardian Term Plan Review
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Last Updated on by Tree of Wealth

When it comes to non-participating term insurance, China Life’s Term Guardian is a plain vanilla term plan that comes on a regular premium basis.

It covers for death, TPD (Total Permanent Disability) as well as Terminal illness. There are no Critical Illness riders available for early, intermediate and advance stages.

Coverage period is until age 65 maximum, shorter than most insurer.

Features At a Glance for China Life Term Guardian

Level Premium Throughout

The premium that you choose will remain the same throughout the coverage term and not increase.

3 Policy Terms Available

Policy Term

Description

5-year renewable term

Renewable at the end of each 5-year policy term for another 5 years, for coverage up to age 84, subject to maximum renewable age of age 79.
20-year term

20 years

Term up to age 64 (last birthday)

Up to age 65

Source: China Life

How China Life Term Guardian Works

 

China Life Term Guardian How it Works 1

China Life Term Guardian How it Works 1
source: China Life

Riders Available

China Life Enhanced Payer Benefit Rider

In the event of diagnosis of the 36 CIs (Critical Illnesses), death and TPD (total and permanent disability) all future premiums for the main plan and its attaching riders will be waived to the Payer of the plan.

China Life Payer Benefit Rider

In the event of diagnosis terminal illness, death and TPD (total and permanent disability) all future premiums for the main plan and its attaching riders will be waived to the Payer of the plan.

China Life Premium Waiver Rider

In the event of diagnosis of the 36 CIs (Critical Illnesses), all future premiums for the main plan and its attaching riders will be waived to the Payer of the plan.

What we don’t like about The China Life Term Guardian Term Plan

  • Coverage until maximum age 65 only
  • Very limited, only 3 Coverage Terms
  • No CI riders available
  • No early CI riders available

Conclusion for the China Life Term Guardian Term Plan Review

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 you the most?

To find the most suitable coverage, simply fill in the form below and our friendly licensed FA advisor will get in touch with you. Based on your needs, a custom made solution will be adjusted only addressing your concerns.

No obligations, no hidden fees. All advice are of no charges.

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