Hi all, may i know which whole life insurance policy is the cheapest or best for age 31 yr old guy this yr, non- smoker and no health issues. Let me know guys on yours views of whole life insurances

Hi anon,

There isn't a universal answer as to which plan is the 'best' or cheapest as it depends on many factors, such as your premium term, base sum assured, multiplier amount, amount of CI vs ECI cover, multiplier duration, etc. All these factors will impact price.

I do believe you mean a coverage of $300K sum assured after the multiplier with full early critical illness, but correct me if I am wrong.

Statistically speaking, I see most of my clients choose Aviva/China Taiping/Etiqa when it comes to price, and features wise, Aviva and China Taiping are head to head. I do distribute most insurers short of GE and Pru.

Having said that, China Taiping withdrew their life plan in March this year, but will re-launch it tomorrow, and the same goes for all other insurers since RBC-2 requirements and the revised PI requirements kick in tomorrow.

So, I'd wait and see what the market has tomorrow before I can comment further.

Depending on your gender and multiplier option, it depends. High chance that Aviva is the winner.