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Loh Tat Tian
05 Apr 2019
Founder at PolicyWoke (We Buy Insurance Policies)
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It depends on your needs.
I however gotten Whole Life policy when I first started work around the same age as I was looking at policies that provide some returns upon surrender after holding for at least 35 years.
Eventually I gotten Term Life policy via MINDEF insured under AVIVA in my 30s. Premium for 500K was relatively cheap as compared to others in market despite the rates would increase following your age increases.
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Hariz Arthur Maloy
27 Mar 2019
Independent Financial Advisor at Promiseland Independent
I'm a big believer that it's never term vs whole life. But how much term and how much whole life.
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I have whole life for 1-2 year annual income coverage, and a term for 5 years annual income which include CI.
I do the base WL, and a term top up for high liabilities (between age 30 to 55, where your kids etc are still depending on you).
For your case, it depends on your situation.