Coffee Meets Investing
Asked by Anonymous
Asked 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.