Should one buy life insurance or term life insurance? And why? Is NtuC vivocare100 a life insurance or term life insurance? - Seedly
 

Coffee Meets Investing

Asked by Anonymous

Asked on 07 Jul 2018

Should one buy life insurance or term life insurance? And why? Is NtuC vivocare100 a life insurance or term life insurance?

0

Answers (1)

Sort By

Most Upvote

  • Most Upvote
  • Most Recent
Loh Tat Tian
Loh Tat Tian
Level 8. Wizard
Answered on 07 Jul 2018

Vivocare 100, (taken from this website https://www.sgmoneymatters.com/ntuc-vivocare/ ), is a whole life participating (means you participate in their funds) which Focus on ECI coverage. So it is a whole life insurance with limited paying premium.

One should assess your financial health (including budget allowed) before taking whole life or term life, though one option may be superior to the other depending on your age and requirement of coverage.

Whole life coverage are mainly for ECI/CI (due to the longer coverage period for the same premium) compared to Term Life.

Term Life is a lot cheaper but focus most of the time coverage 65 and below (since premiums after 65 increases disproportionately)

https://blog.seedly.sg/term-life-or-whole-life-insurance-which-get/ for more information.

0 comments

0