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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.

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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.


Premiums payable

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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