Term Life Insurance in Singapore

Term Life Insurance

Term Life Insurance policies in Singapore cover you in the event of permanent disabilities or death. What are some of the aspects covered in life term insurance policies offered in Singapore?
Main Highlights:
• Lump sum payout
• Portable
• Inexpensive
• Ability to Cancel or reduce payout sum at any time.

Term Life insurance plans offer expats in Singapore a financial safety net for their families in case the unforeseen should happen. A Term Life insurance plan gives you the flexibility to select the term duration and amount of coverage (i.e.: $5m for 20 Years), and can be amended or modified during as you progress through the different phases during your stay in Singapore and all through your life. For expats in Singapore, this can provide essential security in times of uncertainty and transitional periods.

Unsure about your coverage when it comes to term life insurance? Call our team in Singapore to have a discussion.

How Do Term Life Insurance Policies Work in Singapore?

Term Life insurance premiums are generally paid monthly or annually, in return for a guaranteed lump sum payout in the event that death or terminal illness occurs within the contract term in Singapore. There is the added flexibility of increasing protection against a critical illness and/or a permanent disability to complement the term life cover. This can be done by purchasing an added extra or a ‘rider’ that is in addition to your current Term Life Insurance plan in Singapore.

Have questions? Simply drop us your details and we can help you with them.

Procuring Term Life Insurance | Expat Insurance Singapore

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.

It is generally advised that these plans are purchased when young. This ensures lower premiums for life. Give our team in Singapore a call today to discuss this further.

Send us a message and we can help you to understand your Term Life Insurance options and make sure you have the cover you need.


Free Guide: Critical Illness and Term Life Insurance in Singapore

Frequently Asked Question About Term Life Insurance

What is the difference between term and whole life insurance?

Term life insurance covers you for a fixed period of time based on your chosen policy, which is usually 10 to 30 years. On the other hand, whole life insurance provides lifelong coverage. For expats in Singapore, term life insurance is recommended as it is less expensive and offers more flexibility throughout your life stages. To find out which is more suitable for you, feel free to reach out to the experts at Expat Insurance.

At what age should I get term life insurance?

The younger you are, the lower the premiums for term life insurance will be. As such, it is advisable to buy term life insurance plans while you are young, especially if you have young children or ageing parents who are financially dependent on you.

Where can I purchase term life insurance in Singapore?

If you are looking to buy term life insurance or simply keen to learn more, drop us your details and let us help. Our experienced brokers are dedicated to understanding your needs and connecting you to suitable insurance providers.


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