Term Life Insurance
Get to know the basics of term life insurance with MoneySmart and find out about the different types of plans available to make better decisions for you and your loved ones.
What You Should Know About Buying Term Life Insurance
Learning how life insurance works, and whether term or whole life insurance is suitable for you really depends on your financial stability, and the lump-sum payout amount required for you (and your spouse or children).
Coverage period needed
While most term and whole life insurance plans cover death and total permanent disability (TPD), the coverage period differs; the latter covers a whole lifetime.
Sum assured and cash value
If you’re getting a life insurance plan for more than just protection, endowment plans or investment-linked plans may be more apt to get greater returns.
As endowment plans and investment-linked plans offer wider coverage and longer periods of coverage, the premiums are much more than those of term insurance.
Safeguard your family's future with term insurance. Get it today!
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Looking for something else?
Head over to our guides on health insurance and life insurance