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Best Whole Life Insurance Companies – 8 Best Term Life Insurance Plans in Singapore (2022 Edition) Full information and descriptions of the Best Term Life Insurance Plans in Singapore as of 2022.

Provides a comprehensive list of the best term life insurance plans and policies that offer the best value for money.

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Term life insurance plans offer the best value for money because they do not generate a surrender value in future years. Therefore, it is a great option for those who need insurance but are having trouble budgeting for financial planning.

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There may also be changes in living circumstances that require increased coverage due to additional financial responsibilities you or your dependents have assumed.

Although term life plans are generally not designed to provide protection for your entire life, they can be part of your financial portfolio to compensate for lost income due to unforeseen life circumstances.

How did we come up with this list of the 8 best term life insurance plans in Singapore?

As with all insurance companies in Singapore, term life insurance policies have their own product benefits and unique benefits.

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We considered the following criteria when reviewing the 8 Best Term Life Insurance Plans in Singapore (2021 Edition):

Note: This review of the 8 best term life insurance plans in Singapore is not in any order of preference or priority.

NTUC Income TermLife Solitaire brings you the highest insurance coverage and the lowest premiums of all term life insurance plans in Singapore.

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Based on the premiums payable and its coverage determination, NTUC Income TermLife Solitaire should handily beat all other peers when it comes to serious term life insurance.

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Mary, 33, purchased NTUC Income TermLife Solitaire to protect herself against death and total and permanent disability.

She opts for term insurance up to age 65 with a term insurance of S$500,000 for death and TPD.

Mary pays annual premiums of S$438.45 for the next 31 years until she turns 64 to enjoy her cover.

When Mary turns 65, Mary’s coverage expires for a total premium of $13,591.95.

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Most critical illness plans on the market stop coverage after a claim is made, but AXA Super CritiCare does not. One of the cheapest multiple premium critical illness insurance plans in Singapore, Super CritiCare covers up to 6 critical illnesses and all stages of recurrent critical illness claims (600% of the policy maximum)

John, age 30, buys AXA Super CritiCare to protect himself against all stages of the critical illness plan and critical illness plan.

He opted for a S$100,000 policy with a term of up to 70 years. John can make up to 6 critical illness claims, plus a recurring critical illness claim of S$600,000.

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John pays an annual premium of S$975 until he turns 70, and his annual premium will not increase as he ages.

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When he turns 70, John’s insurance will expire with a total premium of S$39,000.

John (male), 30 years old, wants to enroll in AXA Super CritiCare with a basic sum assured of S$100,000 until he is 70 years old.

Aviva MyProtector II Term Plan offers a wide range of coverage terms ranging from 5 or 10 years, 11 years to 85 years or lifetime (up to 99 years). After your Aviva MyProtector II term plan ends, you can extend your coverage up to age 75 with guaranteed renewals.

The policy for renewal will be based on the sum insured, coverage period and the age of the insured at the time of renewal. The policy guarantees renewal only if no claims are made.

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Alvin, 35, purchased the Aviva MyProtector Term Plan II to protect himself from death, terminal illness, and total and permanent disability until the age of 99.

Alvin is eligible for a permanent discount and pays an annual premium of S$2,562.35 to enjoy his cover.

If Alvin lives to age 99, his term life policy will mature and pay a total premium of S$163,987.20.

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Alvin (male), 35, wants to provide financial security for his family after his death. He decides to insure until age 99:

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AXA Term Protector stands out as a flexible life insurance plan that offers a wide range of additional riders at competitive premiums.

Not only can you add passengers individually according to the conditions you wish to obtain, but you can also choose the duration of insurance for each passenger individually.

Alvin, 41, purchased AXA Term Protector with the following add-ons: TPD (up to 70), Early CI and Super CritiCare.

Alvin provides S$500,000 coverage for TPD (under 70 years), death and terminal illness, S$200,000 coverage for early stage critical illness, S$100,000 coverage for critical illness (Super CritiCare, 600% of Sum Assured Maximum)

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For his insurance, Alvin pays an annual premium of S$3,513.40 until he turns 70, when his TPD insurance ends. Afterwards, at age 75, Alvin’s annual contribution will be reduced to S$3,413.40.

Alvin (male), 41, wants $500,000 of death and total permanent disability coverage. He also wants to get critical illness insurance and critical illness insurance earlier.

With AXA Term Protector and riders that can be attached to cover the above, Alvin will pay the following premiums:

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With simplified underwriting, Prudential PRUvital Cover is a regular premium term plan that provides coverage even if you are diagnosed with:

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Protective coatings are notoriously difficult to obtain under existing conditions. Plus, rising healthcare costs can put financial strain on you and your family should unforeseen events occur.

Extend your basic PRUVital coverage with riders to cover total disability and the following 5 selected critical illnesses:

Mary, 30, is already ill. She purchased the Prudential PRUVital Cover to protect herself from death, total and permanent disability (TPD) and critical illness.

For death and total and permanent disability only, her annual premium is S$2,175. But since Mary wants to be covered for 5 critical illnesses, she will pay annual premiums of S$4,827 for the next 40 years.

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When Mary turns 70, Mary’s term life policy will expire with a total premium of S$193,080.

Mary (female), 30, with existing problems, wants to make sure that her family and dependents are not financially harmed in the event of her death. It is also considering lump sum coverage for a certain critical illness.

AIA Secure Flexi Term allows you to convert your policy to any available AIA life insurance plan without any medical certificates.

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Regardless of your health status, the plan can be converted into an AIA-provided savings, investment-linked policy or whole life plan up to age 70.

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You can cover the AIA Secure Flexi Term policy due to the highlighted benefits featured in our other reviews. Options include but are not limited to:

Jack, 32, purchased the AIA Secure Flexi Term until the age of 75 to protect himself against death, total and permanent disability, and critical illness.

He opted for the S$1,000,000 death and total and permanent disability (up to age 70) and S$500,000 critical illness coverage.

Between the ages of 32 and 70, Jack pays annual contributions of S$3,403.75. Jack’s TPD coverage then ends and at age 75, his annual premium will drop to S$3,263.75.

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At age 75, Jack’s AIA Secure Flexi policy expires with a total premium of S$145,661.25.

Before age 70, Jack can convert his term life policy into a protection plan that builds cash while maintaining protection regardless of his health.

AXA Term Protector, the only term plan on the list mentioned twice, allows you to pay premiums for 15 or 20 years and get long-term coverage until your desired age.

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This allows you to pay your premiums while you earn them, rather than waiting until the policy ends.

Term Vs. Universal Life Insurance: What’s The Difference?

Derrick, 26, bought AXA Term Protector with a 20-year limited premium term. This means Derrick only pays premiums for 20 years, but is covered until age 70.

Derrick elects S$500,000 for death and TPD and S$250,000 for critical illness.

Derricks pays annual premiums of S$1,925 for the next 20 years. He finishes his premiums at age 46 with a total premium of S$38,500.

When Derrick turns 70, the AXA Term Protector policy will expire. There is no term or cash value as this is a term life plan not a whole life plan.

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Derrick (male), 26 years old, wants to pay premiums for only 20 years and be covered until age 70:

Derrick will pay his premiums until age 46 and get coverage until age 70.

Its coating will last

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