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Anonymous

23 Sep 2022

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I am looking around for term cover till 65. should i look at 5/10 renewable term or go for term that cover till 65?what are the pros and cons i should consider?

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Jasmine Tan

29 Sep 2022

MDRT Senior Financial Consultant at Prudential Assurance Company Singapore

Would not recommend to purchase a renewable one because theres alot of cons to it.

1) Health affected might not be able to purchase

2) Increase priced as you age

3) Insurance can change the coverage, benefits and price as and when they want.

Basically there is no reason for you to purchase a rewnewable unless you do not intend to have a long term coverage, maybe just want a higher coverage to cover your importance life stage (e.g during mortage loan, kids education period).

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Tan Siak Lim

26 Sep 2022

CFP. Director, Financial Advisory Group at Financial Alliance

Usually the term to 65 will be cheaper when you consider the total premium.

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Cherie

23 Sep 2022

First question on the duration of term

Think about the purpose of coverage. if its for something ...

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