Am looking to get a term plan with death, TPD and accident rider for a 29 y/o, what are the best choices?

Hi anon,

Death is death. The definition doesn't change. TPD definitions are also practically similar. So you'll want to go for the insurer with the cheapest premiums. There really isn't too much differentiating the various term plans on the market in terms of definitions.

Certain insurers may have early CI waivers on their term plans (some only have a late stage CI waiver), so if that is a key factor for you, you'd want to take note.

Accident plans are tricky, they cover various conditions and no two plans are exactly alike. Which plan is best depends on what you are looking for.

There are various insurers running promos now on their term plans, and you'd want to check out the premiums with an IFA who can provide you the majority of quotations from the market.

The most important thing is to get the amount of coverage you need at this juncture in life, which an advisor can help you work through the maths.

Before we attempt to give you the best advice, it will be good to know your needs and planning for the long-term. This is because term insurance coverage will stop after a stipulate period of time - and this may or may not be favourable to you.

Generally for death coverage, choose a reputable insurance company that provides a reasonable rate of premium and efficient after-sales service, e.g. for claim.

For Total & Permanent Disability, you may wish to identify between coverage till age 65 (by industry's standard) or till age 70. Like death coverage, most reputable insurance companies work fine.

For accident coverage, if you are looking at medical reimbursement for injuries, then you may wish to consider solutions from AIA Singapore. This is because it provides a reasonable amount of coverage for the price. Moreover, all my clients are satisfied with the claim efficiency as a whole.

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