Whether you’re the household’s breadwinner, or you have mature aged parents that rely on you for financial support, having Life Insurance could be the difference between your loved ones struggling to make ends meet, and your family’s financial security should you become critically ill and unable to work, or god forbid, if you died unexpectedly.
1. Family protection for loved ones:
Life Insurance is designed to protect your loved ones from the financial impact of your death or illness. Costs such as school fees, mortgage repayments, rent, vehicles, retirement, as well as future college and wedding expenses would be covered. Life Insurance provides the financial security your family had before you were unable to provide for them.
2. Mortgage Repayment:
How would you or your family afford the repayments on your home if either you or your spouse were unable to work due to developing a critical illness or a severe disability? What if the major income to your household were to stop suddenly as a result of the death of you or your partner? Decreasing Term Life Insurance can provide peace of mind as it can be used for the purpose of mortgage payment protection since both the amount and the term of the mortgage are fixed.
3. Affordability of Term Life Insurance
Term Life Insurance policies in Singapore do not accumulate any cash value and are classified as a pure protection tool. This means that there is no surrender value to the policy, allowing for premiums to be highly affordable. You can also purchase expat-based Term Life Insurance plans that will follow you into your next overseas posting as well.
To speak with a qualified Life Insurance advisor, please phone +65 6401 9201 or click here to submit an enquiry.