facebookIf wish to cover term till 65.is mindef plan the best option in term of premium. any cons? - Seedly

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Anonymous

01 Nov 2022

Insurance

If wish to cover term till 65.is mindef plan the best option in term of premium. any cons?

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If you are only looking for life and TPD coverage, it is the cheapest. however do note that its a group policy, so you cannot nominate your beneficiaries as you like, it can only be paid out based on the default intestacy laws, also its subjected to change in the future. If cost isnt the only factor, then you could check out a personal term plan where premiums are fixed and you can nominate whoever. Refer to this comparison chart: https://plannerbee.co/best-term-life-insurance-...

You may compare and contrast the MINDEF plans with other plans in the market at https://www.comparefirst.sg

It is one of the cheaper ones when your young, but the increase in premium accelerates much faster a...

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