Which insurer offers the cheapest or most value for money term plan?

I would suggest trying out with MoneyOwl (https://www.moneyowl.com.sg/). You can also easily compare between different insurance policy quotes that they sell using their online calculator.

You get 50% commission rebate for all insurance policies you get. Right now I believe they also have a promotion such that if you are an NTUC member as well, you get up to 60% of commission rebate.

P/S: I am not from or sponsored by MoneyOwl btw. I personally also got some of my insurance policies from them and really liked the idea of a commission rebate, as well as their service.

Cheers.

- Jeffrey (jeffreyleezq.com)​​​

Hi anon,

Direct term plans do not cover ECI in general; I have yet to find a company that does. Direct term plans may cover CI but the scope of coverage is limited to 30 CI and not the standard list of 37 in LIA's 2019 list.

In general, I cannot comment which insurer is the cheapest or most value for money; as we don't know your gender, age, amount of coverage needed, smoking status, or how long you need the coverage for. There are some insurers that come to mind of course, as they are generally cheaper. If you need CI coverage and your current coverage is not even 10% of your annual income, then you are quite under insured.

CI alone might be sufficient, but consider that if you are diagnosed at the early state, early CI coverage will give you a lump sum payout, which provides options so that you can take time off to focus on recovery and treatment instead of having to juggle both work and recovery, which can be quite taxing on you.