How does the SAFRA Essential Term & Living Care by NTUC Income compare with the rest of the insurance?

My parents have no insurance apart from hospitalisation plan. They are 50 (dad) and 48 (mom). I have been looking around for good and cheap coverage for them and came across this insurance on Safra's page. My dad is an ORD personnel. Is this a good insurance to get for them? Meaning I need to sign up SAFRA membership for both of them before applying for the insurance.

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Tan Li Xing

03 Jan 2020

Financial Consultant at Prudential Assurance Company (Singapore)

Hi Anon,

It looks like there is sufficient coverage as a term insurance, however, the term only lasts till 70 years old. Personally I would encourage you to look at something that covers maybe till 85 to 100 years old for term or a whole of life policy. Why I would suggest that it's because the average mortality age for Singaporeans is 85-86 years old, so it would be safer to plan with that age in mind.

If you don't mind sharing more, maybe there is something that can be looked into and maybe come up with something that is feasible for your dad & mom and you are comfortable with.

You can reach out at http://tiny.cc/coffeebreak

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