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Does anyone have any opinions, thoughs, feednack or experience on ETIQA's Term Life insurance? To be specific, i am referring to this: tps://www.tiq.com.sg/product/term-life-insurance/
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I already have GE Superhealth P and the MINDEF Group Insurance. Would it make sense to take up a term plan or should I go for LIFE insurance?
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Pang Zhe Liang
21 Mar 2023
Lead of Research & Solutions at Havend Pte Ltd
Unfortunately, there isn't a model answer as to whether you should choose a term insurance policy or a whole life insurance policy. This is because there are multiple points for consideration, e.g. What is your purpose, how long do you need the coverage for, what is your budget, and the list goes on.
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After knowing more about you and why you need insurance coverage, it becomes easier to ascertain whether term or whole life insurance is more suitable for you.
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Meanwhile, if you want a general comparison between the two, here is a post that I have written: Term vs Whole Life Insurance Singapore
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Finally, I am not sure what type of feedback you are looking for with regards to the mentioned term insurance policy. But what we can do is to compare the benefits and cost against similar products in the market so that we can have a better understanding of the product's value to that end.
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Tiq ePROTECT Term Life Insurance (Renewable Term)
$2,000,000
MAX SUM ASSURED
5 years
PREMIUM TERM
Death
COVERAGE
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Just max out your MINDEF group?