Term Life Insurance
Asked by Anonymous
Asked on 08 Jul 2019
Looking to buy a term Life Insurance and checked few online.
Any recommendation for below criteria?
1) Age:35; looking for coverage till 60 year for 1 millions with option to have critical Illness Coverage and permanent disability.
2) I am a foreigner so looking for any policy which covers overseas as well
3) any with promotion to get discount on first premium
Top Contributor (Sep)
Based on 1) you are looking at coverage for a fixed period of time, in this case a term plan would suit you better. Critical illness and permanent disability can be added via riders 2) The policies are generally global in coverage so that's not an issue 3) Yes, one of the insurers is having a promotion now on the premiums (20% perpetual) so I suggest if you have been looking at getting your coverage, now is a good time.
I represent multiple insurers and can quote from them and compare for you to get you the most cost effective coverage. Drop me an email at [email protected] and we can converse there.
08 Jul 2019
You should check this website. Do look for Term Direct Purchase Insurance ("DPI") http://www.comparefirst.sg/wap/homeEvent.action As you already know what you want, you can by pass insurance agents and purchase your term insurance plan at a very cheap price. A 35 year old male, non-smoker can get a $1,000,000 Sum Assured with Critical Illness and Total Permanent Disability cover til the age of 65 at approximately $2,800 per annum.
There is one slight issue though, the maximum sum assured is $400,000. So you just have to buy 3 policies ($400,000 x2 and $200,000 x1) if you want to get the $1,000,000 sum assured.
These policies come with the optional CI and TPD cover that you are looking for as well. Also, no worries for being a foreigner, these cover anywhere in the world.
I think your question might be best suited if you manage to secure an appointment with an insurance agent (someone preferably within your circle of friends) or worst case, raise a request with the main insurers in the market - Great Eastern, Prudential, Aviva etc.
Also good to have at least 2 opinions from different insurers so you form your own pov.