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 term life insurance policies offered in Singapore?

Main Highlights:

  • Lump sum pay-out
  • Portable
  • Inexpensive
  • Ability to cancel or reduce pay-out sum at any time.
  • Ability to increase pay-out sums when circumstances require it, like taking on a mortgage, investment loan or having a child.

Term life insurance plans in Singapore a financial safety net for their families when unforeseen happen. A term life insurance plan gives you the flexibility to select the term duration and amount of coverage (i.e., $1m for 20 years). It can be amended or modified as you progress throughout your life. 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 at Diot-Siaci Asia 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 pay-out in the event that death or terminal illness occurs within the contract term in Singapore. In addition, there is the added flexibility of increasing protection against a critical illness and/or a permanent disability to complement the term life coverage. This can be done by purchasing an added extra or a ‘rider’ to your current term life insurance plan in Singapore.

Have questions about riders, such as critical illness insurance in Singapore? Simply drop us your details, and we can help you with them.

PROCURING TERM LIFE INSURANCE FROM DIOT-SIACI ASIA

Term life insurance policies in Singapore do not accumulate any cash value and are classified as a pure protection tool. This means there is no surrender value to the policy, making premiums highly affordable. You can also purchase expat-based term life insurance plans that follow you into your next overseas posting.

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 understand your term life insurance options and ensure you have the coverage you need.

FREE GUIDE: CRITICAL ILLNESS AND TERM LIFE INSURANCE IN SINGAPORE