I’m looking to purchase term life insurance for myself. Currently looking at AXA and Tokio Marine term life with eci rider, which company is better?

Tokio Marine Term Assure II is a popular term life insurance plan for those looking for affordable coverage. The policy terms range from 5 years up to age 85. Coverage includes death, TPD, and terminal illnesses.

AXA Term Protector is suited for families with young children as the entry age is lower - as young as 1 year old. It also offers an option for a single premium. However, do note that coverage for TPD not in the basic coverage.

Both policies offer an early CI rider option.

We have provided a detailed comparison of the top 7 term life insurance policies (Including both of these policies). Do check it out.​​​

Hi anon,

What are you comparing them on? If it is premiums, then we need to look at them from the perspective that both are term plans with ECI rider.

Assuming the sum assured, covered duration, covered conditions and T&Cs are the same, then you can go with the cheaper option in general. These are what you need to consider for something this straightforward.

However, you may want to consider a limited payment life plan with a multiplier, especially if you intend to have your term plan covers you till age of 70 or thereabouts; a life plan with a minimum benefit multiplier may actually be cheaper or equivalent in total premiums, and you benefit from retaining ECI cover into your retirement years. This is due to the high cost of early CI coupled with the fact that you need to pay the plan every single year.