10 Year Term Life Insurance Policy in Singapore
The thought of your demise is definitely not a pleasant one. However, if you’re not insured, your death might leave your family struggling for the rest of their lives. A term life insurance policy helps you secure your family members financially even in your absence. An appropriate life insurance policy can make the life of your loves ones easy and hassle-free.
Top 10 Year Term Life Insurance Policies in Singapore:
- AIA Secure Term Plus (II)
AVIVA MyProtector-Term Plan
- You’re covered in the event of terminal illness and death.
- A minimum premium amount of S$22 is applicable for individuals aged 16 years and above.
- For juveniles aged between 0 and 15, it is mandatory to have critical illness coverage for this life insurance plan.
- Your premium amount is fixed for the entire tenure of your policy.
- Irrespective of your health, your coverage can be renewed up to age of 101 years.
AXA Term Protector / AXA Term Protector Prime
- Your minimum sum assured coverage amount starts from S$100,000.
- In case you die or get diagnosed with terminal illness, you are eligible to get a lump sum amount.
- This policy offers you Guaranteed Renewable Option (GRO). With this convenient feature, your basic policy can be renewed automatically every 5 or 10 years. Renewal doesn’t require any additional medical underwriting.
- This policy offers you Guaranteed Convertibility Option (GCO). With this feature, you can convert your basic policy to a Whole Life Policy or a new endowment plan without any new medical underwriting.
- This policy offers you Guaranteed Issuance Option (GIO). When your life’s important milestones are achieved, you can increase the coverage of your basic policy.
- Your coverage age can go up to the age of 50, 55, 60, 65, 70, 75 or 99 years.
- Only when you have opted for a coverage term of 5, 10 or 15 years, you are entitled for a lump sum amount.
- Towards the end of your policy term, there will be an automatic renewal of your policy. This renewal does not require any medical checkup or medical underwriting.
- The currency of your protection will be of your choice. The currency options include – SGD, EUR, GBP or AUD. Your protection as well as the premium payment will be of the same currency.
- The policy offers you multiple optional riders in order to enhance your coverage. The options include:
- Advance Total and Permanent Disability Payout
- Advance Critical Illness Payout
- DisabilityCash Benefit
- Critical Illness Plus Benefit
- Personal Accident Benefit
- Critical Illness PremiumEraser
- Payer PremiumEraser
- Premium Waiver
- Guaranteed Survival Payout
Great Eastern Flexi Term
- 99 years is the maximum coverage age.
- Minimum sum assured for AXA Life Insurance Term Protector is S$100,000.
- Minimum sum assured for AXA Term Protector Prime is S$2 million.
- The Flexi Term covers Total and Permanent Disability (TPD), death, critical and terminal illness.
- TPD coverage is applicable for the entire policy term. When you are more than 5 years old, you are entitled for the TPD coverage.
- You can opt to get covered for up to the age of 85 years.
- Every 5 years, guaranteed renewal is assured to you. In addition to renewal, you can also convert your policy into an endowment plan, investment-linked or a whole life plan.
- The policy term for this policy starts from 6 years.
- For the complete policy period, you’ll pay the same premium amount.
- For death and terminal illness, S$500,000 is the minimum amount assured.
- Permanent residents of Singapore and non-Singapore citizens are eligible for this term life insurance policy .
- This plan has two currency options - USD and SGD.
- With this policy, you can opt to get covered until you are 100 years old.
- You can increase your sum assured death coverage amount up to 2 times. This feature is applicable only for the Singapore dollar plan.
- You can choose to get covered up to 85 years.
- Your coverage amount will be paid to you in the event of your death or when you are diagnosed with a terminal illness.
- When you opt for a policy term of 5 to 10 years, your policy will be renewed automatically for the initial cover period you’ve signed up for. The renewal will take place irrespective of your health condition.
- You have the option to convert your ManuProtect Term policy into any regular-premium life insurance policy. When you do the conversion, your sum assured will be the same amount offered to you before you turn 65 years old.
Every individual’s insurance needs and requirements vary. Hence, before finalising on a 10 year term life insurance policy, read and understand the terms and conditions of the policy clearly. Choose a policy that is suitable for accomplishing the financial goals of you and your family.