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Updated December 2021

Best Life Insurance

Compare and read real user reviews on Life Insurance in Singapore

21 Products Found

    Most Popular
    Most ReviewedHighest RatingA-Z
    FWD Term Life Plus Insurance (Renewable Term)

    $1,500,000

    MAX SUM ASSURED

    5 years

    PREMIUM TERM

    Death, Terminal Illness

    COVERAGE

    FWD Term Life Plus Life Insurance (Fixed Term)

    $1,500,000

    MAX SUM ASSURED

    5 years or up to age 70

    PREMIUM TERM

    Death, Terminal Illness

    COVERAGE

    Lim Boon Tat

    "The Term Life Plus FWD insurance policy is easily one of the..." 14mth ago

    Tiq DIRECT - Etiqa Term Life Insurance (Renewable Term)

    $400,000

    MAX SUM ASSURED

    5 years

    PREMIUM TERM

    Death

    COVERAGE

    Tiq DIRECT - Etiqa Term Life Insurance (Fixed Term)

    $400,000

    MAX SUM ASSURED

    20 years or up to age 65

    PREMIUM TERM

    Death

    COVERAGE

    M

    "[Purchase Process] I was comparing on CompareFirst website and found their price competitive..." 11mth ago

    AIA Secure Flexi Term Life Insurance (Renewable Term)

    $1,000,000

    MAX SUM ASSURED

    5, 10, 20 or 30 years

    PREMIUM TERM

    Death, Terminal Illness and Terminal Cancer

    COVERAGE

    AIA Secure Flexi Term Life Insurance (Fixed Term)

    $1,000,000

    MAX SUM ASSURED

    Up to age 65, 75 or 100

    PREMIUM TERM

    Death, Terminal Illness and Terminal Cancer

    COVERAGE

    Chloe Ng

    "Term life insurance, also known as pure life insurance, is a type..." 2mth ago

    AIA DIRECT – AIA Term Cover Life Insurance (Renewable Term)

    $400,000

    MAX SUM ASSURED

    5 years

    PREMIUM TERM

    Death, Terminal Illness and TPD

    COVERAGE

    AIA DIRECT – AIA Term Cover Life Insurance (Fixed Term)

    $400,000

    MAX SUM ASSURED

    20 years or up to age 65

    PREMIUM TERM

    Death, Terminal Illness and TPD

    COVERAGE

    AVIVA DIRECT - Aviva Term Life Insurance (Renewable Term)

    $400,000

    MAX SUM ASSURED

    5 years

    PREMIUM TERM

    Death, Terminal Illness and TPD

    COVERAGE

    AVIVA DIRECT - Aviva Term Life Insurance (Fixed Term)

    $400,000

    MAX SUM ASSURED

    20 years or up to age 65

    PREMIUM TERM

    Death, Terminal Illness and TPD

    COVERAGE

    AVIVA MyProtector - Term Plan II Life Insurance (Renewable Term)

    $250,000

    MAX SUM ASSURED

    5, 10 years

    PREMIUM TERM

    Death and Terminal Illness

    COVERAGE

    AVIVA MyProtector - Term Plan II Life Insurance (Fixed Term)

    $250,000

    MAX SUM ASSURED

    11 years or up to age 85

    PREMIUM TERM

    Death and Terminal Illness

    COVERAGE

    AXA DIRECT - Term Lite Life Insurance Plan (Renewable Term)

    $400,000

    MAX SUM ASSURED

    5 years

    PREMIUM TERM

    Death and Terminal Illness

    COVERAGE

    AXA DIRECT - Term Lite Life Insurance (Fixed Term)

    $400,000

    MAX SUM ASSURED

    20 years or up to age 65

    PREMIUM TERM

    Death and Terminal Illness

    COVERAGE

    AXA Term Protector Life Insurance (Renewable Term)

    $2,000,000

    MAX SUM ASSURED

    5, 10, 15, 20, 25, 30 years

    PREMIUM TERM

    Death, Terminal Illness and TPD

    COVERAGE

    AXA Term Protector Life Insurance (Fixed Term)

    $2,000,000

    MAX SUM ASSURED

    15 years or up to age 99

    PREMIUM TERM

    Death, Terminal Illness and TPD

    COVERAGE

    $400,000

    MAX SUM ASSURED

    5 years, up to age 80

    PREMIUM TERM

    Death, Terminal Illness and TPD

    COVERAGE

    Renewable

    TERM RENEWABILITY

    $400,000

    MAX SUM ASSURED

    20 years or up to age 65

    PREMIUM TERM

    Death, Terminal Illness and TPD

    COVERAGE

    Fixed

    TERM RENEWABILITY

    Disclaimer: Products with a "Visit Site" button pay to access additional features

    Seedly's Product Comparison Page Listing Guidelines
    For Life Insurance products to be listed on Seedly's Product Comparison Page, they have to fulfil the following criteria:

    • Policies protected under the Policy Owners’ Protection (PPF) Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC)
    • Term Life insurance only
    • No payouts at end of policy term if no claims were paid during the period

    What is Life Insurance – Is it worth it?

    “Funerals aren’t for the dead, they are for the living”

    Remember this quote from The Fault in Our Stars?

    Now, Replace funerals with Life Insurance and repeat the phrase.

    Indeed, Life Insurance is designed to protect your family members who may depend on you for financial support in times of unfortunate events that may threaten your livelihood. Generally, it acts as a long-term financial safety net that provides compensation to your family members.

    Hence, if you are the sole provider/ breadwinner of your family, or that you have dependents counting on you, it is extremely advisable for you to get it.

    Which type of life insurance is better: Term vs Whole Life Insurance

    With so many types of life insurance out there, it is no wonder that Singaporeans tend to avoid having a conversation about it for convenience sake. While it may appear daunting when it comes to choose the best life insurance for your needs, the importance getting covered should not be underestimated.

    There are 2 main categories of products:

    • Term Insurance – Sometimes called unbundled products as they provide you with protection coverage for a fixed period of time without any investment feature.
    • Bundled products – Refers to whole life and endowment policies as well as investment-linked policies as these provide for protection and investment.

    Here’s a comparison between the type of Life Insurance Plan that you can possibly buy:

    Term Life

    Purpose: For Protection Safeguard

    Coverage: Cases of Death, Terminal Illness and total/permanent disability

    Period of Coverage: Variable or up to a certain age

    Guaranteed Death Benefit: Yes, Sum Assured

    Guaranteed Cash Value @ End: NIL

    Premiums: Regular Term

    Surrender Penalties: NIL

    Whole Life (Endowment)

    Purpose: For Protection Safeguard & Savings

    Coverage: Cases of Death, Terminal Illness and total/permanent disability

    Period of Coverage: For Entire Life

    Guaranteed Death Benefit: Yes, Sum Assured

    Guaranteed Cash Value @ End: Yes, Savings with interest earned

    Premiums: Regular Term

    Surrender Penalties: Cash Value

    Whole Life (Investment-Linked)

    Purpose: For Protection Safeguard & Investment Returns

    Coverage: Cases of Death, Terminal Illness and total/permanent disability

    Period of Coverage: For Entire Life

    Guaranteed Death Benefit: Yes, Sum Assured

    Guaranteed Cash Value @ End: Yes, Earnings/ Losses from Investments

    Premiums: Regular Term/ Single Lump Sum

    Surrender Penalties: Cash Value

    Whole Life (Universal Life)

    Purpose: For Protection Safeguard & savings in a flexible manner

    Coverage: Cases of Death, Terminal Illness and total/permanent disability

    Period of Coverage: For Entire Life

    Guaranteed Death Benefit: Yes, Sum Assured

    Guaranteed Cash Value @ End: Yes, Earnings/ Losses from Investments

    Premiums: Variable by the User

    Surrender Penalties: Cash Value

    Now that we have a clearer view about what are the differences between term and whole life insurance. But, between the 2, which is better?

    There isn’t a definite right or wrong, but more of which is suitable. We have compared the key points and summarised the pros and cons for you.

    Term Life

    Best Suited for Students with low budget and Young Adults that just entered the work force

    Advantages:

    • Cheaper Premiums per month/year

    Disadvantages:

    • Once the Plan expires after the fixed period of time and that you have yet to make any claims, you would not receive anything at the end of it.

    Whole Life

    Best Suited for Children and Working Adults

    Advantages:

    • Covers for your entire life
    • You can choose to either save or invest part of your premium, thereby potentially increasing your returns
    • Cash value returns

    Disadvantages:

    • Much more expensive
    • Investments can go either way – it’s a risk to take.

    When is the best time to buy a Life

    Insurance?

    NOW! There is no hard and fast rule to determine the best time to buy. In fact, the younger and healthier are when you purchase a life insurance, the less premium you have to pay and the higher coverage you will enjoy. Furthermore, you get insured earlier, so you won’t have to fret about what happens to your family when you suddenly pass away.

    Which Best Life Insurance Plan To Get? How Much Coverage Do I Get?

    So, how much coverage of term life or whole life insurance do you need?

    To determine which plan is suitable, you can consider the following areas:

    1.       Purpose of having the insurance in determining the type of Life Insurance

    2.       Your health/ pre-existing illness/ lifestyle habits/smoking status

    3.       Your income relative to your dependents

    Alternatively, a quick guide to determining how much coverage you should use would be 5 times of your yearly income.

    Furthermore, you can consider getting short term endowment plans.

    Tools To Help You Choose The Best Life Insurance For You

    To help Singaporeans make smarter personal finance decision, here are some tools to help you:

    If you'd like more information you can

    Check out our article(s) which will help you to pick out the best life insurance:

    If you have questions about which life insurance to get after reading our Real User Reviews, why not ask our community of experts and experienced members at Seedly QnA? Best of all, you can even ask your questions anonymously if you're really, really shy!