Asked by Cherie Julianne Tan

Which insurance company offers Limited-Pay Term Life Insurance?

Just recalled that I once came across a comment for one of my articles that we are able to get a LIMITED-PAY term insurance. Hearing limited-pay term insurance had definitely piqued my interest, especially since now I have just started working and would like to protect myself more! Please share more with me, thanks!!

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  • Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Feb)

    378 Answers, 632 Upvotes
    Answered on 17 Oct 2018

    AXA Term Protector is the only one.

    Here's proof.

    You can pay throughout or pay for 15 or 20 years.

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    • Cherie Julianne Tan
      Thank you, Hariz! Would you consider this place to be pricey?
      17 Oct 2018
    • Hariz Arthur Maloy
      TM would be cheapest for 500k Term to 65 for Female Age 25 Non Smoker @ 325/month. Most term plans for the above scenario would cost between 13k to 15k over 40 years. So if you squeeze it within 20 years, expect to pay 700+/mth. If cashflow is not a problem, then paying it off quickly would mean less headache on how to pay premiums in your late 50s and 60s because employment is not a guarantee. But cash is king and TVM would tell you that stretching your payments would make more sense for you.
      17 Oct 2018
  • Cheng You Yi
    Cheng You Yi
    7 Answers, 13 Upvotes
    Answered on 17 Oct 2018

    Believe it was AXA

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  • Bryant Chua
    Bryant Chua
    2 Answers, 2 Upvotes
    Answered on 17 Oct 2018

    Hi Cherie,

    most term life insurance are paid yearly for the term that you choose. It still provides for a life coverage for the stated number of years that you are looking for. Limited pay would be more for the Whole Life insurance, paying for a 10/12 years and getting coverage for life. However, limited pay are usually more expensive as the cost of insurance are squeezed into those few years instead of spreading it out.

    Hope this helps!

    Do drop me a PM if you have more queries

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    • Cherie Julianne Tan
      Hey Bryant! Thanks for your reply :) The others have helped me find out which company offers limited pay term life, you can look into it if you are interested in it too! :)
      17 Oct 2018