- Min. Death and TI Coverage
- S$20,000
- Critical Illness Coverage
- Add on
- TPD Payout Limit
- S$6,500,000
- Monthly Premium
- S$161


Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. All life insurance products featured on this page will involve an independent financial advisory firm called PromiseLand. This third-party company will be reaching out to you directly regarding your enquiries. The details you see on our site may be different from others. Some content may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored are based on objective analysis. All financial products and services are presented without warranty.
The purpose of life insurance is to protect you and your family's financial stability in the event you are diagnosed with total permanent disability, terminal illness, or even when you pass on.
Types of Life Insurance | Benefit | Who Is It For |
---|---|---|
Whole Life Insurance | Offers you a lump-sum payout in the event of disability, terminal illness, critical illness (depends on your choice of plan), and death, with possible cash returns – for your entire life. | Young adults, professionals, and homeowners |
Term Life Insurance | Offers you and your family a lump-sum payout in case you are disabled, terminally ill, critically ill (optional), or in the event of your death – up to a certain age only, e.g. 75 years old. | Fresh graduates, first-time insurance buyers, and first-jobbers |
Universal Life Insurance | Often offered to high net-worth individuals, a Universal Life insurance plan offers you the usual whole life death benefits – although with the flexibility to change your sum assured and premiums anytime, and the premiums you pay can be investment-linked. | High and ultra-high net-worth individuals considering legacy planning |
So, you've heard of people buying term life insurance, and others buying whole life insurance (commonly referred to as life insurance in short) – but what are the similarities and differences between term and whole life insurance?
What is whole life insurance? Is it a good investment? What are the pros and cons of whole life insurance plans? Whole vs term life insurance is one of those never-ending arguments – you're either a whole life insurance type of person, or you're a term insurance person. Universal life insurance? Forget it, those people won't be reading this page. Below, we list out the advantages and disadvantages of a whole life insurance plan: